Brisbane Airport Corporation (BAC) has reported a net profit of A$148 million for 2011 despite a year of natural disasters that have significantly impacted on travel and tourism numbers.
The net profit – before tax, un-realised gains and shareholder distributions – of $148 million was 4.2% up from $142 million last year, BAC said.
Figures show that revenue at the gateway grew 7.7% over the year while operating costs grew by 7.2% resulting in EBITDA of $328 million. This was up 7.9% from the $304 million reported in 2010.
Meanwhile, international passenger numbers were up 3.6% on the previous year at 4.2 million, and domestic passengers were up 6% to 15.8 million.
Also in 2011, the airport reported a record of handling more than 20 million passengers in total through its terminals.
Julieanne Alroe, CEO of BAC, said the results had more than exceeded expectations, especially “given the industry as a whole had been greatly impacted by a number of local and global disasters”.
She said: “We saw positive, substantial and stable growth in passenger numbers across both domestic and international markets in the first six months of FY11, with much of this growth a result of additional capacity and new services introduced by our airline partners.
“While the second half of the year was marred with floods, earthquakes, tsunamis and ashclouds, Brisbane Airport remained open and fully operational demonstrating the reliability and durability of our critical infrastructure.”
To keep up with the growing demand, BAC is pushing forward with a multi-million dollar infrastructure programme, which includes a $120 million terminal apron expansion project at both the international and domestic terminals.
According to Alroe, the construction at the international terminal will consist of approximately 65,000sqm of aircraft pavement to provide two extra bays suitable to accommodate A380 aircraft, while an additional 75,000sqm of aircraft pavement will also provide eight more bays - suitable for 737 aircraft – at the domestic terminal, boosting capacity to service future regional growth.
She said: “With 43 million passengers expected to be travelling through the airport by 2028, Brisbane Airport must upgrade its runway system as well as terminals, roads, and other aeronautical facilities to meet this demand.”