Heathrow full year results

Published on : Tuesday, February 19, 2013

Heathrow full year resultsHeathrow (SP) Limited (formerly BAA (SP) Limited) owns Heathrow and Stansted airports. Throughout this document, Heathrow (SP) Limited and its subsidiaries are referred to as the Group.
Record Heathrow passenger satisfaction and passenger numbers 8.1% revenue increase supports 11.6% Adjusted EBITDA growth Heathrow investment increased over 30% to £1.1 billion as Terminal 2 nears completion Completed transformation of financing with over £3 billion in bond issues during 2012 Process for defining Heathrow’s development in next regulatory period reaching key stage Successful £1.5 billion sale of Stansted announced At or for year ended 31 December 2012 Change (%) (figures in £m unless otherwise stated)

(1) Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation and exceptional items
(2) Adjusted pre-tax profit/(loss) is before exceptional items, gains/losses on disposals, impairment charges and fair value adjustments
(3) Nominal net debt excluding intra-group loans and including index-linked accretion
(4) Heathrow Finance plc (formerly BAA (SH) plc) is the parent company of Heathrow (SP) Limited
(5) Changes in passengers and net retail income per passenger are calculated using unrounded data
(6) See section 2.2.2.2 for calculation of net retail income per passenger
Colin Matthews, Chief Executive Officer of Heathrow, said:
“2012 was an historic year for Heathrow. We gave a warm welcome and a smooth journey to thousands of Olympic and Paralympic athletes, and greeted a record 70 million passengers over the twelve months. We also achieved record customer satisfaction levels, with three quarters of people saying they had a ‘very good’ or ‘excellent’ experience at Heathrow. Our capital investment programme continued, with over a billion pounds spent on improving the airport, mainly on the new Terminal 2 which opens next year. We also completed our refinancing programme, successfully issuing another £3 billion of bonds to put us on a stable, long term financial footing.”

 

Source:- Heathrow

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