ADP sees “mild” 2009 profit growth, lower traffic
The operator of Charles de Gaulle and Orly airports also forecast a drop of up to 4.5 percent in 2009 passenger traffic, a day after its main airline customer Air France-KLM (AIRF.PA) announced a further cut in summer seat capacity as the economic downturn slashes demand for air travel.
The group said earnings before interest, tax, depreciation and amortisation (EBITDA) — its most widely monitored profit figure — rose 12 percent to 848.0 million euros in 2008.
Earnings before interest and tax (EBIT) or operating profit rose 12.6 percent to 501.1 million euros on already reported sales of 2.527 billion, up 10.2 percent.
The profit surge came as spending at its recently expanded terminal stores raced ahead of 2008 passenger traffic growth of just 0.8 percent, which ADP said contrasted favourably with traffic falls at most other European airports.
The state-controlled group said restated net income rose 12.6 percent to 271.2 million euros and recommended a dividend of 1.38 euros per share, down from 1.63 euros the previous year — which was boosted by proceeds from the sale of a stake in Beijing airport.
