23-Feb-2010 1:13 PM

BAA revenue up 8.3%, losses widens in 2009

UK’s BAA revenue up 8.3% - financial/traffic highlights for the 12 months ended 31-Dec-2009:

  • Revenue*: GBP1,978 million, +8.3% year-on-year;
    • Aeronautical: GBP1,093 million, +11.5%;
    • Retail: GBP439.5 million, +4.8%;
    • Other: GBP445.4 million, +4.4%;
  • Adjusted EBITDA*: GBP885.2 million, +17.1%;
  • EBITDA: GBP667.9 million, -7.7%;
  • Loss on disposal of London Gatwick: GBP277.3 million;
  • Profit (loss) before tax: (GBP821.9 million), compared to a loss of GBP324.2 million in the previous corresponding period;
  • Profit (loss) after tax: (GBP684.0 million), compared to a loss of GBP201.1 million in the previous corresponding period;
  • Passenger numbers: 85.9 million, -3.8%;
  • Retail profit per passenger: GBP4.72, +6.1%;
    • London Heathrow: GBP4.93, +6.7%;
    • London Stansted: GBP4.00, +2.0%. [more]

*Excludes London Gatwick

BAA: “BAA made substantial progress in 2009, against a difficult economic backdrop. We sold Gatwick airport, returned to the debt capital markets and our future regulation is clearer. Our operational performance is improving and we will invest more than £1 billion this year to upgrade our airports. Our financial performance remains resilient, especially at Heathrow, which benefits from its position as the UK's only hub airport, higher retail spending by passengers and strong cost control. We expect 2010 to present further economic challenges for the industry as a whole, and we will remain focused on improving our efficiency and the service we offer customers,” Colin Matthews, CEO. Source: BAA, 22-Feb-2010.

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