BAA EBITDA up 12% in 1H2011

UK's BAA revenue up 12% - financial highlights for the six months ended 30-Jun-2011:

• Revenue: GBP1074 million, +12.1% year-on-year;
  • Aeronautical: GBP587.9 million, +15.9%;
    • London Heathrow: GBP528.7 million, +17.5%;
    • London Stansted: GBP59.2 million, +3.3%;
  • Retail: GBP246.7 million, +14.2%;
  • Other: GBP239.3 million, +2.2%;
• EBITDA: GBP533.1 million, +12.3%;
• Adjusted EBITDA: GBP510.5 million, +27.1%;
  • London Heathrow: GBP471.3 million, +28.2%;
  • London Stansted: GBP39.2 million, +15.3%;
• Profit (loss) before tax: (GBP249.2 million), compared to a loss of GBP279.7 million in p-c-p;
• Capital expenditure: GBP431.1 million;
• Net debt: GBP10,128 million;
• Passenger numbers: 41.4 million, +7.1%;
  • London Heathrow: 32.9 million, +9.1%;
  • London Stansted: 8.5 million, +0.2%;
• Net retail income per passenger: GBP5.59, +7.6%. [more]

BAA: "The Group has continued the strong operational and financial performance seen since the beginning of 2011. As a result, the Group continues to expect turnover and Adjusted EBITDA for 2011 as a whole to be consistent with the forecasts set out in the investor report issued in June 2011 at GBP2.3 billion and GBP1.12 billion respectively," Company statement. Source: BAA, 27-Jul-2011.