Macquarie Airports

Airport operator, Map Group (ASX:MAP) has announced an increase of 12.1 percent in full year earnings at Sydney Airport. In 2009, EBITDA (Earnings before interest, tax, depreciation and amortisation) was $689.3 million, which rose to $773 million in the financial year ending December 31.

Full-year capital expenditure for Sydney Airport was $136.4 million, which was for two major projects: the international terminal redevelopment and runway safety works.

Airport infrastructure operator, Macquarie Airports (ASX:MAP) have seen a surge in air traffic of 7.2 percent over its portfolio of three airports. Proportionate earnings increased to $323.4 million while EBITDA (earnings before interest tax depreciation and amortisation) was up 15.4 percent compared to the same period last year to $597.5million. Proportionate earnings are consolidated revenue calculated according to its ownership share in each portfolio airport.

The Macquarie Airports (MAP) investors are scheduled to cast their votes today on the internalisation of MAp’s management by severing its tie with Macquarie Group with a payment of $345 million for the management rights as the court ruling went in favour of the meeting to be held today.

The Australian financial service provider Macquarie Group’s (MQG) chances of cutting a lucrative deal while exiting from the Macquarie Airports (MAP) managements took a hit as the Risk Metrics appeared strong against the agreement as it appears there is not much of assurance that debt costs will not shoot high.

Macquarie Airports (MAP) is expected to reduce its annual cost from an average $78 million a year to only $11.5 million after the company went for internationalisation. Macquarie Airports was forced to pay the previous amount to the parent Macquarie Group for the last seven years.

Another Satellite fund of the Macquarie Group, Macquarie Airports (MAP) is most likely to be the next in the line to cut away from the parent company as the group moves forward with its plan to give more focus in the investment banking. On Thursday, Macquarie Airports fund issued a notice for an imminent change and requested for a close down of trading.

Babcock & Brown Power (BBP) was the overall best performing stock taking in a 41.24 percent increase. It was a mixture of road development, asset management, aviation, power, utility infrastructure, and media companies who were among the best performing stocks for the week 27 of 2008 of the Australian sharemarket: ConnectEast Group (CEU), Babcock & Brown (BNB), Macquarie Airports (MAP), Babcock & Brown Power (BBP), Spark Infrastructure (SKI), Seven Network (SEV). These best performing stocks managed gains above 9.61 percent by the end of the trading week.

St. Barbara was the overall worst performing stock taking in a 31.25 percent decrease. Among the worst performing stocks for the week 23 of 2008 of the Australian sharemarket were a mixture of education services, toll road development and management, aviation, metal and mining, property funds management: Transurban Group (TCL), ABC Learning (ABS), Macquarie Airports (MAP), St. Barbara (SBM), APN/UKA European Retail Property (AEZ). These worst performing stocks for week 25 of 2008 recorded losses above 15.38 percent by the end of the trading week.