Skip to main content

How Australia’s biggest airport reported | Sydney Airport (ASX:SYD) Reporting Results

Jessica Amir
February 24, 2021

Sydney Airport (ASX:SYD) reported its full-year 2020 results.

Australia’s biggest airport reported its profit nosedived 136% to a $145.6m annual loss. It comes as traffic numbers fell from a record high in 2019 tumbling 75% in 2020.

What was somewhat pleasing was that despite COVID-19, revenue only fell 51% to $803.7m, as the group continued to act as a gateway for air freight and also repatriated 50% of Aussie passengers returning from overseas.

However, SYD was not able to declare a dividend for the period – as the market expected.

As for SYD’s outlook – it’s cautiously optimistic that travel will begin to recover in 2021.

SYD shares rose 2% to $6.05 after the result.

SYD is a Morgan Stanley and UBS Buy, while it’s a Hold for Citi.

Morning Bell 27 November

Jessica Amir
November 27, 2020

Morning Bell 26 November

Jessica Amir
November 26, 2020

Morning Bell 25 November

Jessica Amir
November 25, 2020

Morning Bell 24 November

Jessica Amir
November 24, 2020

Morning Bell 23 November

Jessica Amir
November 23, 2020

Weekly Wrap 20 November

Jessica Amir
November 20, 2020

Morning Bell 20 November

Jessica Amir
November 20, 2020

Morning Bell 18 November

Jessica Amir
November 18, 2020

Morning Bell 17 November

Jessica Amir
November 17, 2020

Morning Bell 16 November

Jessica Amir
November 16, 2020

Weekly Wrap 13 November

Jessica Amir
November 13, 2020