Sydney Airport Limited

ASX-listed Sydney Airport (the Group) consists of Sydney Airport Limited (SAL) and Sydney Airport Trust 1 (SAT1). Shares and units in the Group are stapled, quoted and traded on the Australian Securities Exchange as if they were a single security. They consist of one share in SAL and one unit in SAT1. SAL holds a 100% economic interest in Sydney (Kingsford Smith) Airport at 31 December 2020 (2019: 100%).

Australia Stock Exchange: SYD

Profit or Loss

($) 31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Revenue 799,300,000 1,632,400,000 1,577,600,000 1,475,900,000 1,357,400,000 1,222,000,000 1,157,400,000
Cost of Goods Sold -39,300,000 -56,800,000 -64,600,000 -57,500,000 -54,500,000 -47,200,000 -46,900,000
Gross Profit 760,000,000 1,575,600,000 1,513,000,000 1,418,400,000 1,302,900,000 1,174,800,000 1,110,500,000
Operating Costs -572,600,000 -868,100,000 -646,000,000 -607,700,000 -573,700,000 -483,700,000 -488,600,000
Operating Profit 187,400,000 707,500,000 867,000,000 810,700,000 729,200,000 691,100,000 621,900,000
Financing Costs -431,800,000 -420,900,000 -433,500,000 -421,600,000 -409,000,000 -405,000,000 -506,200,000
Profit Before Tax -244,400,000 286,600,000 433,500,000 389,100,000 320,200,000 286,100,000 115,700,000
Income Tax 136,900,000 -71,600,000 -62,500,000 -40,500,000 319,600,000 -5,000,000 -58,500,000
Profit -107,500,000 215,000,000 371,000,000 348,600,000 639,800,000 281,100,000 57,200,000

Balance Sheet

($) 31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Current Assets 1,598,900,000 840,200,000 1,111,800,000 672,000,000 625,700,000 505,400,000 610,900,000
Non-Current Assets 11,253,900,000 11,792,200,000 11,942,400,000 11,651,100,000 11,700,200,000 11,545,600,000 10,717,900,000
Total Assets 12,852,800,000 12,632,400,000 13,054,200,000 12,323,100,000 12,325,900,000 12,051,000,000 11,328,800,000
Current Liabilities 1,074,800,000 1,590,700,000 795,700,000 1,112,700,000 706,200,000 625,800,000 1,098,200,000
Non-Current Liabilities 10,740,100,000 11,795,300,000 12,186,600,000 10,576,500,000 10,532,900,000 10,110,200,000 8,715,700,000
Total Liabilities 11,814,900,000 13,386,000,000 12,982,300,000 11,689,200,000 11,239,100,000 10,736,000,000 9,813,900,000
Total Equity 1,037,900,000 -753,600,000 71,900,000 633,900,000 1,086,800,000 1,315,000,000 1,514,900,000

Cash Flow

($) 31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Cash Flow from Operating Activities 434,300,000 1,370,700,000 1,232,500,000 1,183,200,000 1,087,400,000 1,005,200,000 985,300,000
Cash Flow from Investing Activities -354,300,000 -313,500,000 -402,400,000 -541,100,000 -399,500,000 -863,200,000 -296,400,000
Cash Flow from Financing Activities 370,500,000 -908,400,000 -837,200,000 -624,500,000 -588,900,000 -222,000,000 -685,400,000
Net Change in Cash 450,500,000 148,800,000 -7,100,000 17,600,000 99,000,000 -80,000,000 3,500,000
Cash at Beginning 625,100,000 476,300,000 483,400,000 465,800,000 366,800,000 446,800,000 443,300,000
Exchange Fluctuations 0 0 0 0 0 0 0
Cash at End of Period 1,075,600,000 625,100,000 476,300,000 483,400,000 465,800,000 366,800,000 446,800,000

Profitability

  31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Gross Margin 95.1% 96.5% 95.9% 96.1% 96.0% 96.1% 95.9%
Operating Margin 23.4% 43.3% 55.0% 54.9% 53.7% 56.6% 53.7%
Profit Margin -13.4% 13.2% 23.5% 23.6% 47.1% 23.0% 4.9%

Compare with:

Management Effectiveness

  31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Return on Assets -0.8% 1.7% 2.8% 2.8% 5.2% 2.3% 0.5%
Return on Equity -10.4% -28.5% 516.0% 55.0% 58.9% 21.4% 3.8%
Current Ratio 1.49 0.53 1.40 0.60 0.89 0.81 0.56
Debt to Equity Ratio 11.38 -17.76 180.56 18.44 10.34 8.16 6.48

Compare with:

Valuation

  31 Dec 2020 31 Dec 2019 31 Dec 2018 31 Dec 2017 31 Dec 2016 31 Dec 2015 31 Dec 2014
Share Price ($) 6.41 8.66 6.73 7.05 5.99 6.35 4.71
Shares on Issue 2,698,700,253 2,259,826,439 2,257,079,385 2,253,213,234 2,249,825,201 2,229,467,259 2,216,216,041
Market Capitalisation ($) 17,298,668,622 19,570,096,962 15,190,144,261 15,885,153,300 13,476,452,954 14,157,117,095 10,438,377,553
Revenue per Share ($) 0.30 0.72 0.70 0.66 0.60 0.55 0.52
Earnings per Share ($) -0.04 0.10 0.16 0.15 0.28 0.13 0.03
Dividend per Share ($) 0.16 0.38 0.36 0.32 0.28 0.24 0.22
Dividend Yield 2.5% 4.4% 5.4% 4.6% 4.6% 3.8% 4.6%
Price to Sales Ratio 21.6 12.0 9.6 10.8 9.9 11.6 9.0
Price to Earnings Ratio -160.9 91.0 40.9 45.6 21.1 50.4 182.5
Price to Book Ratio 16.7 -26.0 211.3 25.1 12.4 10.8 6.9

Compare with: