Airports Company SA’s ‘best ever’ profit tops R2bn
International departures at local airports grew by 6.1%
AIRPORTS Company South Africa (Acsa), which operates and runs nine airports, said its profit for the year to the end of March had firmed 10.8% to R2 billion, compared with R1.8bn in the previous financial year.
Acsa chief executive Bongani Maseko said yesterday the results were the company’s “best ever”. Revenue surged to R8.6bn from R8.3bn. Revenue from aeronautical sources, including fees charged to airlines, contributed 63% to the total revenue.
Acsa said it wanted to continue to grow revenue from non-aeronautical sources, which include letting retail and office space, advertising and parking.
Debt, primarily in the form of bond issues, was R9bn, compared with R17bn in 2012, the company said.
In December, Acsa announced a 35.5% reduction in airport charges for the 2017/18 financial year. These charges were expected to increase 5.8% in the 2018/19 and 7.4% in 2019/20. “We are happy to report that we have certainty following the tariff reduction. In the next couple of years, we are not going to have results as good as these, but they will be good,” Maseko said.
Acsa reported that 20 million passengers departed from its nine airports in the year to March, compared with 19.4 million the previous year.
Domestic passenger growth was subdued at 2.2%, while international departures grew 6.1%.
“For the first time, Cape Town International Airport reported more than 10 million arriving and departing passengers, with King Shaka International Airport reporting a total of more than 5 million passengers for the first time.”
The government owns a 74.6% stake in Acsa and 20% is held by the Public Investment Corporation. A group of empowerment investors own 4.21% and Acsa’s staff share scheme holds a 1.19% stake.