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ADM Aéroports de Montréal has released its consolidated operating results for the three- and six-month periods ended June 30, 2019. Since the beginning of the year, YUL Montréal-Trudeau International Airport has welcomed 9.7 million passengers, an increase of 5.7 per cent over the same period last year.
Highlights – passengers
- YUL is continuing to welcome more and more passengers: 5.0 million passengers in the second quarter of 2019 (+5.0 per cent) and 9.7 million in the first half of 2019 (+5.7 per cent).
- All three activity sectors, international, transborder and domestic, contributed to the growth. The increase was especially pronounced on the international side, with the sector posting a 9.8 per cent increase in passenger traffic for the quarter under review and 10.7 per cent in the six-month period.
- With an expanding number of destinations, YUL remains Canada’s most international airport as a proportion of its total passenger traffic (among the country’s largest airports).
- In the second quarter of 2019, commercial air movements at YUL dropped by 2.1 per cent, reflecting an increase in the number of passengers per flight. For the first six months of the year, the decline was 1.2 per cent.
Financial results at a glance:
- EBITDA was $85.4 million in the second quarter of 2019, up $1.5 million, or 1.8 per cent, from the same period in 2018. For the first half of the year, EBITDA totalled $175.0 million, up $25.5 million, or 17.1 per cent, from the same period in 2018.
- Consolidated revenues totalled $170.1 million in the second quarter of 2019, an increase of $10.8 million, or 6.8 per cent, compared to 2018. Total revenues at June 30, 2019, increased by 14.2 per cent to $348.1 million in 2019 from $304.8 million the previous year. This increase is mainly attributable to the increase in passenger traffic, the rate increase of AIFs, as well as to a gain on the disposition of assets.
- Operating expenses for the quarter under review were $56.0 million, an increase of $7.7 million, or 15.9 per cent, over the same period in 2018. For the six months ended June 30, 2019, operating expenses increased by $13.4 million, or 13.2 per cent. This variance is mainly attributable to investments to maintain a high level of service for travelers in a context of infrastructure under-capacity as well as to implementation costs related to initiatives to enhance competitiveness.
- The corporation’s capital investments totalled $77.2 million during the second quarter of 2019 and $116.5 million in the first six months of 2019 ($62.0 million and $86.3 million, respectively, in 2018). Investments in YUL and YMX were financed by cash flows from operating activities.
- “The first six months of 2019 show sustained growth in passenger traffic, demonstrating the strength of Montréal-Trudeau as an international hub for air traffic. The management of Aéroports de Montréal wishes to thank its employees and those of the airport community, who contribute every day to achieving these more than satisfactory results, in addition to enhancing the level of service offered to the passengers who visit YUL,” said Philippe Rainville, president and CEO of Aéroports de Montréal.
In recent months, various initiatives have been deployed:
- On July 19, ADM held a ground-breaking ceremony to formally kick off construction work for the future Réseau express métropolitain (REM) station. The first REM metro car will enter the station at YUL in 2023 and will enable users to reach the city centre from the airport in about 20 minutes.
- ADM announced its participation in Known Traveller Digital Identity (KTDI), a pilot project that will allow paperless travel between YUL and Schiphol Airport. The first trip using a digital identity for travelers is scheduled to take place in 2020.
- ADM committed to increasing the proportion of its light electric vehicles to 100 per cent by 2030 by joining the EV100 initiative aimed at helping companies adopt electric vehicles.
- On May 9, ADM launched WebTrak, the flight data system that provides access to flight paths, aircraft types, altitude and noise levels recorded at different noise measurement stations. This initiative provides citizens with greater accessibility to data related to aircraft activity at YUL.