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DAA's core profits edge up 1pc in 13

Wednesday, May 07 14:47:50

The Dublin Airport Authority (DAA) today posted core profits or earnings before interest, taxes, depreciation, and amortisation (EBITDA) that increased by 1pc to E161 million during 2013.

Group profit after tax excluding exceptionals declined by 33pc to E28 million, while post-exceptional after-tax profits increased by 100pc to E38 million.

The Annual Report said that turnover fell 6pc last year to E501 million, partly on the back of its withdrawal from Russia and Ukraine, its chief executive, Kevin Toland said.

Net debt fell by 9pc to E614 million.

Last year was the Group's first as an operator of two Irish airports - Dublin and Cork - and passenger numbers at the Republic of Ireland's two largest aviation gateways increased by 5pc to more than 22.4 million during the year.

Group chairman, Padraig O Riordain, said that this was the Group's strongest overall performance in passenger growth since 2007, but the 4pc decline in traffic in Cork Airport remains a concern.

Dublin Airport remains the main gateway for Ireland, accounting for 82pc of international traffic to and from the Irish State last year.

Passenger numbers at Dublin Airport increased by almost 6pc to 20.2 million last year - the first year of more than 20 million passengers since 2009 - and strongly outpacing passenger growth at EU airports as a whole which increased by just 1pc in 2013.

Contrary to the trend in Dublin, passenger numbers at Cork Airport declined by almost 4pc last year to about 2.3 million, due in part to a significant rationalisation in services to Central Europe.