BAA EBITDA up 9% in 2010

UK's BAA revenue up 5% - financial* highlights for the 12 months ended 31-Dec-2010:

• Revenue: GBP2074 million, +4.9% year-on-year;
  • Aeronautical: GBP1115 million, +2.0%;
    • London Heathrow: GBP991.3 million, +3.2%;
    • London Stansted: GBP123.7 million, -6.3%;
  • Retail: GBP476.3 million, +8.4%;
• Adjusted EBITDA: GBP966.9 million, +9.2%;
• Operating cashflow: GBP918.5 million, +14.5%;
• Passenger numbers: 84.3 million, -1.8%;
  • London Heathrow: 65.7 million, -0.2%;
  • London Stansted: 18.6 million, -7.0%;
• Net assets: GBP635.9 million, -23.0%. [more]

*For continuing operations (excluding London Gatwick)

BAA: "In 2011, we expect to deliver a strong increase in profits and cash flow, enabling us to make further investments in improving facilities and further strengthening our financial position," Colin Matthews, CEO. Source: BAA, 22-Feb-2011.

BAA: "The Group expects the recovery in underlying passenger traffic in 2010 to continue in 2011. 2011 is also expected to see higher aeronautical tariffs, particularly at Heathrow, and further improvements in retail income. Traffic trends in the early weeks of 2011 have been consistent with the Group's expectations and therefore at this stage of the year the outlook for financial performance in 2011 remains consistent with [previous] guidance," Company statement. Source: BAA, 22-Feb-2011.