20-Feb-2013 4:12 PM

Ferrovial reports highlights for airport assets for 2012

Spain's Ferrovial reported (19-Feb-2013) the following highlights for its UK's Heathrow Airport Holdings (HAH) asset during 2012:

  • HAH increased revenues by 4.8% in 2012 to GBP2646 million pounds. EBITDA expanded by 5.3%, to GBP1355 million. This was due mainly to positive traffic performance at Heathrow, which increased by 0.9% with respect to 2011, to a record 70 million passengers. Occupancy also reached a record 75.6% in 2012. There was a notable increase in long-haul traffic on routes to and from North America and Brazil, as well as the Middle and Far East. Overall, HAH handled 99.7 million passengers in 2012.
  • Scottish airport also performed well, with traffic up 8.3% at Aberdeen, while EBITDA increased by 12.1%.
  • Began paying quarterly dividends for the first time since its acquisition in 2006. The company distributed GBP240 million in 2012. That figure is expected to increase slightly in 2013.

Ferrovial also completed the sale of Edinburgh Airport to Global Infrastructure Partners for GBP807 million, a figure of 16.7 times 2011 EBITDA. The funds were used to pay down bank debt at the non-regulated airports. In Jan-2013, HAH announced the sale of London Stansted International Airport to Manchester Airport Group for GBP1.5 billion, a figure that exceeded market expectations. The transaction is scheduled to be completed in late Feb-2013. [more – original PR]

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