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BAA reports pre-tax loss in 1Q2010

30-Apr-2010 9:49 AM
BAA (SP) Limited reports (30-Apr-2010) the following financial highlights for the three months ended 31-Mar-2010:
  • Revenue: GBP456.1 million, +5.5% year-on-year;
    • Aeronautical: GBP238.7 million, +2.9%;
    • Retail: GBP103.1 million, +5.6%;
    • Others: GBP114.3 million, +11.4%;
  • Operating costs (adjusted): GBP282 million, +6.9%;
  • EBITDA (adjusted): GBP174.1 million, +3.3%;
  • Underlying EBITDA (adjusted): GBP174.6 million, +18.7%;
  • Pre-tax loss: (GBP195.5 million), compared to a loss of GBP38.2 million in the corresponding period last year;
  • Passenger numbers: 18.6 million, +0.2%. [more]
BAA:"Heathrow and Stansted delivered a resilient financial performance during the first quarter. Operational performance in the quarter was robust despite enhanced security procedures, extreme winter weather and industrial action at our biggest airline customer. Heathrow's traffic continues to perform well and the Group achieved strong growth in net retail income per passenger ... The rest of 2010 continues to present significant financial challenges for the industry as a whole. We currently estimate that the closure of Heathrow and Stansted due to volcanic ash will have a total impact on 2010 Adjusted EBITDA of GBP28 million," Colin Matthews, CEO. Source: BAA, 30-Apr-2010.