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Business Description: Sydney Airport Limited (SYD, formerly MAp Group) owns and operates Sydney Airport, which is the core component of Australia's transport network. Sydney Airport connects Sydney to 99 destinations including 52 international, 21 domestic interstate and 26 regional destinations with 45 serviced airlines.
Strategy Analysis: SYD is solely focused on Sydney Airport after selling other assets. Focus is on optimising operating performance and upgrading the airport to accommodate passenger growth and maximise revenue opportunities. Key medium-term opportunities involve retail expansion, growing the car park business, catering to rising Asian tourism and using surplus land at the northern end for commercial activities. A longer term plan to split the airport into two airline alliance based precincts is being considered. Distributions will be mostly funded from free cash flow from 2013. Capex is funded from debt.
Sydney Airport reported NPAT of $179.2m for the year ended 31 December 2012. Revenues from ordinary activities were $1,055.3m, up 1.3% from last year. Basic and Diluted EPS was 9.63 cents compared to 6.53 cents last year. Net operating cash flow was $869.8m compared to $857.4m last year. The final dividend declared was 10.0 cents, taking the full year dividend to 21.0 cents compared with 21.0 cents last year.
The Age 18/06/2013 |
A survey of 100 companies with more than 500 employees in Australia found 68 per cent have built a new data centre in the past two years, while 78 per cent plan to further expand or build new ones in the next 24 months.
The Age 18/06/2013 |
A group specialising in financial disputes has called on the corporate regulator to reopen all settlements for Commonwealth Bank planners where fraud has been proven or where they failed to investigate strong allegations of fraud.
The Age 18/06/2013 |
Investors took the knife to diversified property group Lend Lease after it warned that the global construction sector had deteriorated in the past six months, leading to reduced earnings.
The Age 18/06/2013 |
France's Eutelsat Communications and US private equity firm KKR & Co are among the suitors to place first-round bids for Optus' satellite unit, according to overseas reports.
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