BAA adjusted EBITDA up 9% in 1H2012, maintains guidance

UK’s BAA revenue up 8% – financial highlights for six months ended 30-Jun-2012:

• Revenue: GBP1164 million, +8.4% year-on-year;
  • Aeronautical: GBP661.1 million, +12.5%;
    • London Heathrow Airport: GBP599.4 million, +13.4%;
    • London Stansted: GBP61.7 million, +4.2%;
  • Retail: GBP254.0 million, +3.0%;
    • London Heathrow: GBP216.7 million, +4.4%;
    • London Stansted: GBP37.3 million, +4.8%;
• Adjusted EBITDA: GBP555.2 million, +8.8%;
  • London Heathrow: GBP513.5 million;
  • London Stansted: GBP38.7 million;
• EBITDA: GBP422.6 million, -19.1%;
• Profit on ordinary activities after tax: GBP3.8 million, compared to a loss of GBP130.4 million in p-c-p;
• Passenger numbers: 41.8 million, +0.8%;
  • London Heathrow: 33.6 million, +2.2%;
  • London Stansted: 8.2 million, -4.5%;
• Net passenger revenue per passenger: GBP5.72, +2.4%;
  • London Heathrow: GBP6.10, +2.1%;
  • London Stansted: GBP4.16, +1.4%;
• Total assets: GBP13,153 million, +1.4%;
• Cash at bank and in hand: GBP4.3 million, +65.4%;
• Total  liabilities: GBP13,348 million, +7.0%. [more – original PR]

BAA: “The Group has continued its strong operational and financial performance since the beginning of 2012. As a result, it expects turnover and Adjusted EBITDA for 2012 as a whole to be consistent with the forecasts set out in the investor report issued in June 2012 at approximately GBP2.5 billion and GBP1.27 billion respectively.” Source: Company statement, 25-Jul-2012.

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