Southeast China airports review – untrammelled growth in four cities in 1Q10

The main airports serving three of China’s largest cities in the southeast (Guangzhou, Xiamen and Shenzhen) plus Shanghai have made public their financial highlights for the 12 months ended 31-Dec-2009 and the three months ended 31-Mar-2010. With the exception of Xiamen, which itself recorded some healthy revenue growth and net profit, these airports demonstrated that China continues to lead the way out of the recession in the first quarter of 2010. Airport managers will be wary, though, of costs increasing typically by up to 10% in each period in some cases. All the airports are listed domestically on the Shanghai and Shenzhen Stock Exchanges. [1910 words]

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This report contains the following subheadings:

• Going to make you a Star
• First Special Economic Zone
• Tungsten City

This report contains the following charts and tables:

• China country map
• Shanghai International Airport Co financial highlights: Three months ended 31-Mar-2010 (according to the Chinese accounting standard, USD million)
• Shanghai International Airport Co financial highlights: 12 months ended 31-Dec-2009 (according to the Chinese accounting standard, USD millions)
• Guangzhou Baiyun International Airport financial highlights: Three months ended 31-Mar-2010 (according to the Chinese accounting standard, USD million)
• Guangzhou Baiyun International Airport financial highlights: 12 months ended 31-Dec-2009 (according to the Chinese accounting standard, USD millions)
• Shenzhen Airport financial highlights: Three months ended 31-Mar-2010 (according to the Chinese accounting standard, USD millions)
• Shenzhen Airport financial highlights: 12 months ended 31-Dec-2009 (according to the Chinese accounting standard, USD millions)
• Xiamen Gaoqi Airport financial highlights: Three months ended 31-Mar-2010 (according to the Chinese accounting standard, USD millions)
• Xiamen Gaoqi Airport financial highlights: 12 months ended 31-Dec-2009 (according to the Chinese accounting standard, USD millions)
• Guangzhou, Shanghai, Shenzhen and Xiamen airports’ revenue: 1Q2009 to 1Q2010
• Guangzhou, Shanghai, Shenzhen and Xiamen airports’ net profit margin: 1Q2009 to 1Q2010