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In the last five days, Sydney Airportâs (ASX:SYD) stock declined by 0.45 percent as on 1 February 2019. Today (4 February 2019), SYDâs stock tumbled 1.366 percent on February 04, 2019 following the market speculative news on the Productivity Commission draft report which will be published soon. However, the company has not announced any price sensitive information today.
The Productivity Commission is investigating regarding the economic regulation of airport services and related services and in relation to this investigation, the commission is going to release the Productivity Commission draft report on 6 February 2019.
Recently, the Sydney Airport announced Traffic Performance for the December 2018. In December 2018, the Airportâs International passengers increased by 3.7% to 1,611K and the Domestic Passengers decreased by 2.6% as compared to the previous corresponding period. In 2018, around 44.4 million passengers travelled through the Sydney airport which is around 2.5% more than the passengers travelled in 2017. In December 2018, the International passenger traffic increased by 3.7 percent compared to the prior corresponding period (PCP) helping offset a decline in domestic traffic growth.
In the first half of 2018 the Airportâs total revenue grew by 7.9 percent and EBITDA grew 8.1% as compared to the previous corresponding period (PCP).
The airportâs revenue from the Aeronautical division increased by 7 percent in H1 2018 as compared to PCP which reflects 5.2% international passenger growth. The airportâs revenue from the Retail division increased by 8.9 percent after the completion of lease renewals on superior terms for the Airportâs travel essentials contract and a number of T3 leases. The revenue from the Property and car rental division increased by 10.9% in H1 2018 as compared to PCP driven by the new investment in hotels, with both Ibis Budget and Mantra performing well. The revenue from the Car parking and ground transport division increased by 2.1% in H1 2018 as compared to PCP driven by an improved performance in online bookings. Sydney Airport is going to release its full year ended 31 December 2018 on 21 February 2019.
During the first half of 2018, the Airport witnessed strong international passenger growth and delivered positive investor returns. Sydney Airport has reaffirmed the distribution guidance of 37.5 cents per stapled security for 2018 and has also reaffirmed its capital expenditure guidance of up to $1.3-$1.5 billion for the 2018-2021 period with approximately $360-$400 million expected to be invested for the full year 2018.
In the past six months, SYDâs shares decreased by 6.52% as on 1 February 2019. SYDâs shares traded at $6.500 with a market capitalization of circa $14.86 billion as on 4 February 2019 (AEST 4:00 PM). It has 52 weeks high of $7.620 and 52 weeks low of $6.240.
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