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FUTURE GENERATION AUSTRALIA LIMITED — Earnings Release 2011
Apr 3, 2011
64916_rns_2011-04-03_98ba4210-7e73-4155-aa73-cfb882e227e5.pdf
Earnings Release
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Hastings Funds Level 16, 90 Collins Street Management Limited Melbourne VIC 3000 Australia ABN 27 058 693 388 T +61 3 8650 3600 AFSL No. 238309 F +61 3 8650 3701 Australian Infrastructure www.hfm.com.au Fund Limited Melbourne, London, San Antonio, Sydney ABN 97 063 935 553
ASX Announcement
Australian Infrastructure Fund (AIX)
Total pages: 2
4 April 2011
AIX airport portfolio continues to achieve growth
Australian Infrastructure Fund (AIX) today reported passenger growth across its airport portfolio for the month ended 28 February 2011, with AIX-weighted passenger numbers increasing 0.3 percent compared with the prior corresponding period of February 2010 (pcp). AIX-weighted passenger numbers have increased by 7.4 percent for the financial year to date as against the same period in the prior financial year.
The Australian airports (comprising 83.5 percent of the AIX portfolio) experienced passenger growth of 0.6 percent. Particularly pleasing was the performance of Perth Airport, which recorded growth on pcp of 7.1 percent.
February is traditionally a seasonally quieter month, particularly for leisure traffic, and this along with the recent natural disasters in Australia and overseas, has had a dampening effect on passenger growth at the other Australian airports in which AIX invests. APAC, through which AIX owns its interest in Melbourne Airport, recorded growth of 2.3 percent, with international growth particularly strong. Meanwhile, Queensland Airports Limited (QAL), through which AIX owns its interests in Gold Coast, Townsville and Mt Isa Airports, recorded negative growth of 5.4 percent. A decline in leisure travel particularly affected Queensland, as interstate and overseas residents appear to be under the impression that the entire State remains damaged after natural disasters earlier this year. Unfortunately, there is a perception that some destinations, such as the Gold Coast, were affected when this was not the case. NT Airports (which comprises 5.6 percent of the AIX portfolio) also recorded negative growth of 4.5 percent, mainly reflecting a decline in leisure travel.
AIX Chief Executive Officer, Jeff Pollock, said: “The natural disasters we have seen, both in Australia and overseas, have affected demand for air travel; however, this is likely to be short-lived and we anticipate continued long term growth into the future.”
The performance of the European Airports (comprising 10.7 percent of the AIX portfolio) continue to reflect the underlying economic conditions in which they operate, with Athens Airport recording negative growth and the two German airports continuing to record strong growth, reflecting the strength of the German economy.
Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.
The table below highlights the year on year February month comparisons:
| Growth (%) | |||
|---|---|---|---|
| AIX Airport | Domestic | International | Total |
| Perth Airport | 7.2 | 7.0 | 7.1 |
| Australia Pacific Airports Corporation1 | (0.2) | 11.5 | 2.3 |
| Queensland Airports Limited2 | (5.5) | 0.5 | (5.8) |
| NT Airports3 | (3.9) | 19.7 | (4.5) |
| Sydney Airport4 | (0.2) | 2.5 | 0.5 |
| Athens Airport | (26.4) | (8.9) | (16.5) |
| Dusseldorf Airport5 | 15.0 | 6.8 | 9.0 |
| Hamburg Airport5 | 4.6 | 7.6 | 6.1 |
| Total weighted by AIX interest | (0.8) | 5.4 | 0.3 |
For further enquiries, please contact:
Jeff Pollock
Chief Executive Officer
Australian Infrastructure Fund Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: [email protected] Website: www.hfm.com.au/aix
Simon Ondaatje Head of Investor Relations
Hastings Funds Management Tel: +61 3 8650 3600 Fax: +61 3 8650 3701 Email: [email protected] Website: www.hfm.com.au/aix
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Jane Frawley Company Secretary Australian Infrastructure Fund
1 Total includes international transits (not shown separately) as reported by Melbourne Airport. 2 Total includes transits (not shown separately) at Gold Coast Airport.
3 Total includes transits (not shown separately) at Darwin International Airport.
4 Total includes domestic-on-carriage (not shown separately) as reported by MAP Airports.
5 International includes transits as reported by ADV German statistics.