Aéroports de Montréal: Strong Performance and Passenger Growth in H1 2023

Aerial view of Montreal Airport.
Photo Credit: Menzies Aviation

ADM Aéroports de Montréal has released its consolidated operating results for the first half of 2023, along with passenger traffic data for YUL Montréal-Trudeau International Airport.

The report highlights significant growth in passenger traffic and improved financial performance for the company.

Aéroports de Montréal H1 2023

Passenger Traffic Surge

YUL Montréal-Trudeau International Airport experienced a remarkable surge in passenger traffic during the second quarter of 2023. The quarter recorded a passenger total of 5.3 million, marking a substantial 32.9% increase compared to the same period in 2022.

Remarkably, this figure represents an astonishing 106.1% of the traffic seen in the corresponding period in 2019, underscoring the rapid recovery of the aviation sector.

The growth trajectory was consistent throughout the quarter, with April at 101.0% of 2019 levels, May soaring to 108.8%, and June maintaining a robust 107.9% of 2019 traffic levels.

The international sector notably contributed to this upswing, reaching an impressive 117.7% of 2019 traffic levels in the second quarter.

Over the first six months of 2023, passenger traffic totaled 9.8 million, reflecting an impressive 57.6% increase over the same period in 2022.

Improved Financial Performance

The financial outlook for ADM also shines brightly. The EBITDA (excess of revenues over expenses before financial expenses, income taxes, depreciation and impairment, and share of results of joint ventures) for the second quarter of 2023 was reported at $104.8 million.

This represents a substantial improvement of $22.9 million when compared to the EBITDA of $81.9 million recorded during the same period in 2022.

For the first half of 2023, EBITDA totaled a robust $193.5 million, indicating an impressive increase of $76.6 million over the EBITDA of $116.9 million for the first six months of 2022.

Forward-Looking Investments

ADM’s commitment to enhancing infrastructure is evident in its significant capital investments. The second quarter of 2023 saw capital investments, net of grants, amounting to $90.7 million.

This represents a notable increase of $50.5 million, or 125.7%, when compared to the corresponding period of 2022.

Over the six months ending on June 30, 2023, capital investments reached $114.1 million, marking a substantial increase of $57.9 million, or 103.0%, when compared to the capital investments of $56.2 million during the same period in 2022.

Worth noting is the support from the Airport Critical Infrastructure Program (ACIP), which contributed grants totaling $43.5 million during the first half of 2023, a significant increase from the $16.3 million received in 2022.

CEO’s Perspective

Philippe Rainville, President and CEO of ADM, expressed pride in the airport’s performance despite the challenges posed by weather conditions and the ongoing pandemic recovery.

Rainville acknowledged the remarkable efforts of the entire airport community, from employees to partner airlines and government agencies.

He emphasized ADM’s commitment to enhancing operational efficiency and passenger experiences through investments in areas such as baggage handling and collaborative initiatives.

Mr Rainville highlighted the commitment to continuous improvement to ensure an exceptional travel experience for passengers during this bustling season.

By Len Varley - Assistant Editor 4 Min Read
4 Min Read
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