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BAA year-to-date revenue up 7.6%, EBITDA up 17%

29-Oct-2009 1:51 PM

UK’s BAA revenue up 7.6% - financial highlights for the nine months ended 30-Sep-2009:

  • Revenue: GBP1,846 million, +7.6% year-on-year;
    • Aeronautical: GBP1,013 million, +13.2%;
    • Retail: GBP457.4 million, +1.7%;
    • Other: GBP375.3 million, +1.0%;
  • Adjusted operating costs*: GBP1,041 million, +1.4%;
  • Adjusted EBITDA#: GBP804.6 million, +16.8%;
  • EBITDA: GBP544.1 million, -15.7%;
  • Profit (loss) before tax: (GBP784.7 million), compared to a loss of USD519.5 million in the previous corresponding period;
  • Profit (loss) after tax: (GBP636.3 million), compared to a loss of GBP372.3 million in the previous corresponding period;
  • Passenger numbers: 90.7 million, -5.5%;
    • Heathrow: 49.9 million, -2.3%;
    • Gatwick: 25.4 million, -7.2%;
    • Stansted: 15.5 million, -12.0%;
  • Net retail profit per passenger: GBP4.64, +6.1%. [more]
  • *Before depreciation (GBP387.1 million) and exceptional items (GBP312.1 million)
  • #Before exceptional items

BAA: "We have delivered a good performance in line with expectations for the first nine months of the year, helped by Heathrow's continued resilience, higher retail spending by passengers and tight cost control. Our London airports are strongly cash generative and our debt and underlying interest costs are stable,” Colin Matthews, CEO. Source: BAA, 28-Oct-2009.