North County Leader

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DAA Profits Up 47 Per Cent

DAA - Dublin Airport AuthorityDAA - Dublin Airport Authority

Profits at airport operator daa increased by 47 per cent to E61 million last year, as commercial revenue from its domestic and international businesses grew by 30 per cent and overall passenger numbers at Dublin and Cork airports increased by 14 per cent.
Turnover at daa increased by 21 per cent to E680 million, driven by record passenger numbers at Dublin Airport and strong growth in commercial and retail revenues both in Ireland and at the Group’s overseas businesses. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) increased by 14 per cent to E206 million.
“daa had a strong year in 2015 with record passenger numbers at Dublin Airport, Cork Airport returning to traffic growth in the fourth quarter of the year, and an excellent performance by our airport retail business ARI,” said daa Chief Executive Kevin Toland while speaking to the County Leader.
Dublin Airport set new passenger records in all major sectors of its business last year. An extra 3.3 million passengers were welcomed with 23 new routes and more capacity on 40 existing services. “Dublin Airport is a key driver for Irish trade and tourism and the benefits of this additional traffic would have been felt throughout the economy,” according to Mr Toland.
“The new runway will be an essential enabler for the Irish economy for many decades to come as it will support up to 31,000 new jobs and E2.2 billion worth of economic activity,” Mr Toland said. “It will allow our existing airline customers to grow and will also help Dublin Airport to attract new airlines to the Irish market.”
Total sales at Dublin and Cork airports, including retail, food and beverage sales by concessionaires, increased by 20 per cent to E273 million last year. An E8 million upgrade to the main retail area at Dublin Airport’s Terminal 1 and growing passenger numbers helped deliver a 28 per cent increase in sales at ARI’s directly managed stores in Ireland, as annual sales in these stores surpassed E100 million for the first time. Average passenger spends at Irish stores operated directly by ARI increased by 12 per cent last year.
The profit generated by ARI’s overseas retail operations and investments increased by 19 per cent to E22 million during the year. Most ARI locations saw double digital increases in sales in 2015 and total managed turnover for ARI was up by 19 per cent. Passenger numbers at Düsseldorf Airport, in which ARI owns a 20 per cent stake, increased by 3 per cent to 22.5 million.
daa has also recently won a major multi-million euro contract to operate a new domestic terminal at Riyadh’s King Khalid International Airport in Saudi Arabia though its daa International arm. The new terminal, which has a capacity of up to 12 million passengers per annum, will open on a phased basis during this year.