27-Oct-2011 12:21 PM

BAA EBITDA up 9% in nine months to Sep-2011

UK’s BAA revenue up 10% – financial highlights for the nine months ended 30-Sep-2011:

  • Revenue: GBP1703 million, +10.2% year-on-year;
    • Aeronautical: GBP956.7 million, +14.2%;
    • Retail: GBP385.0 million, +10.0%;
    • Other: GBP361.6 million, +1.0%;
  • Adjusted EBTDA: GBP842.2 million, +17.1%;
  • EBITDA: GBP878.8 million, +9.3%;
  • Passenger numbers: 66.7 million, +4.3%;
  • Retail income per passenger: GBP5.42, +6.2%;
    • London Heathrow: GBP5.76, +6.3%;
    • London Stansted: GBP4.17, +3.2%;
  • Net assets: GBP375.1 million, -41.0% when compared to period ended 31-Dec-2010;
  • Cash at bank and in hand: GBP2.5 million, -59.0% when compared to period ended 31-Dec-2010. [more – original PR]

BAA: “The Group’s trading performance has been consistent with expectations during the first nine months of 2011 and passenger traffic has remained broadly as expected since then. Taken together with the current outlook for the remainder of the year, the Group expects Adjusted EBITDA for 2011 to be consistent with the guidance of GBP1124 million included in the investor report issued in Jun-2011. Prospects for continued strong growth in Adjusted EBITDA in 2012 are supported by the tariff increases taking effect from 01-Apr-2012. The Group will provide more detailed guidance on expected performance for next year in its investor report due to be published in Dec-2011.” Company statement. Source: BAA, 26-Oct-2011.

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