MONTRÉAL, July 30, 2018 /CNW Telbec/ – Aéroports de Montréal (ADM) today announced its financial results as of June 30, 2018, showing continued strong growth in passenger traffic and a 21.3% increase in EBITDA (earnings before interest, taxes, depreciation and amortization) in the second quarter of 2018 compared to the same period in 2017.
Highlights – passengers
- Montréal-Trudeau welcomed 4.8 million passengers in the second quarter of 2018 and a total of 9.2 million passengers in the first six months of the year. This represents increases of 7.1% and 7.0%, respectively, over the corresponding periods of 2017.
Financial results at a glance
- EBITDA was $83.7 million in the second quarter of 2018, up $14.7 million from the corresponding period in 2017. For the six months ended June 30, 2018, EBITDA amounted to $149.1 million, an increase of $19.5 million (+ 15.0%). Like many other companies, ADM considers EBITDA to be the best indicator of its financial performance.
- ADM’s capital investments totalled $62.0 million during the second quarter of 2018 and $86.3 million in the first six months of 2018. These investments were financed by cash flows from operating activities.
- Consolidated revenues were $159.3 million in the second quarter of 2018, an increase of $19.6 million (+14.0%). Consolidated revenues as of June 30, 2018 increased by 10.9%, from $274.9 million to $304.8 million. This increase is mainly attributable to the increase in passenger traffic and the rise in AIF as of April 1, 2018.
- Operating expenses for the quarter were $48.5 million, an increase of $2.8 million (+6.1%). For the six months ended June 30, 2018, operating expenses increased by 7.5%, from $95.1 million to $102.2 million. This difference is mainly due to increases in operating expenses related to winter conditions, investments to ensure better fluidity of the passenger process, and the implementation of security measures since April 2017.
“Aéroports de Montréal’s management is highly satisfied with these excellent financial results,” said Philippe Rainville, President and Chief Executive Officer of ADM. “Combined with the growth in passenger traffic, they show that Montréal-Trudeau is consolidating its position as a major hub for air traffic. I want to thank all ADM employees who are contributing every day to achieving these results. We are fortunate to have such a dynamic team working tirelessly to provide Montrealers with an airport and air service they can be proud of.”
All information about these financial results is available online.