Heathrow expects to deliver strong revenue and adjusted EBITDA growth in 2013

UK's Heathrow (SP) Ltd expects (18-Dec-2012) to deliver strong growth in revenue and adjusted EBITDA in 2013. 2012 and 2013 forecasts are as follows:

• 2012 forecast*:
  • Revenue: GBP2464 million;
    • Heathrow only: GBP2223 million;
  • Adjusted EBITDA: GBP1246 million;
    • Heathrow only: GBP1153 million;
  • Cash flow from operations: GBP1193 million;
  • Capital expenditure: GBP1214 million;
  • Passenger numbers: 87.2 million;
    • London Heathrow: 70.1 million, down from previous forecast of 70.9 million;
    • London Stansted: 17.1 million
• 2013 forecast:
  • Revenue: GBP2439 million;
    • Heathrow only: GBP2439 million;
      • Aeronautical: +16.6%;
      • Retail: +5.5%;
  • Adjusted EBITDA: GBP1344 million;
    • Heathrow only: GBP1344 million;
  • Cash flow from operations: GBP1290 million;
  • Capital expenditure: GBP1354 million;
  • Passenger numbers: 70.9 million, +1.2% year-on-year;
  • Net retail income per passenger: +3.8% driven by duty and tax-free and airside specialist shops. [more - original PR]

*Given the sale of Stansted Airport is expected to occur in early 2013, the traffic forecast commentary only addresses Stansted traffic in respect of 2012