Heathrow adjusted EBITDA up 23% in 2013, expects continued growth in 2014; traffic strong

UK's Heathrow (SP) Ltd revenue up 11% - financial highlights for 2013:

• Revenue: GBP2474 million, +11.3% year-on-year;
• • Aeronautical: GBP1523 million, +19.0%;
  • Retail: GBP487 million, +5.9%;
  • • Car parking: GBP91 million, +11.0%;
    • Duty and tax free: GBP126 million, +3.3%;
    • Airside specialist shops: GBP96 million, +4.3%;
    • Bureaux de change: GBP45 million, +2.3%;
    • Catering: GBP39 million, +2.6%;
• Adjusted EBITDA: GBP1421 million, +23.1%;
• Passenger numbers: 72.3 million, +3.4%;
• Aeronautical revenue per passenger: GBP21.06, +15.1%;
• Net retail income per passenger: GBP6.37, +2.6%;
• Total assets: GBP13,585 million;
• Cash at bank and in hand: GBP19 million;
• Total liabilities: GBP13,937 million. [more - original PR]

Heathrow: "Heathrow expects continued growth in revenue, Adjusted EBITDA and operating cash flow in 2014, primarily driven by higher passenger traffic, increased aeronautical charges and operating efficiencies, which in combination will mitigate costs related to operating an additional terminal once Terminal 2 opens. Traffic momentum in early 2014 has remained strong and the incremental change to the tariff formula for the regulatory period beginning 1 April 2014, recently announced by the CAA, does not materially impact previously published 2014 forecasts." Source: Company statement, 24-Feb-2014.