London Gatwick Airport EBITDA up 12% in FY2011

UK's London Gatwick Airport released its FY2011 annual report, outlining the financial highlights for the 12 months ended 31-Mar-2011:

• Revenue: GBB476.3 million, +0.2% year-on-year;
  • Aeronautical: GBP244.3 million, +0.1%;
  • Retail: GBP115.6 million, +0.5%;
  • Car parking: GBP51.7 million, +2.6%;
  • Others: GBP64.7 million, -1.8%;
• EBITDA*: GBP189.4 million, +12.2%;
• Capital investment: GBP211.4 million, +16.5%;
• Net debt: GBP1184 million, +55.2%;
• Passenger numbers: 31.6 million, -2.3%;
• Aircraft movements: 235,738, -3.6%. [more]

*Pre-exceptionals

London Gatwick: "Resilient passenger traffic combined with our relentless focus on cost efficiency helped us achieve solid financial results. We also successfully refinanced the business, enhancing our capital structure and establishing a strong liquidity position. We worked in partnership with the airlines to re-scope our near GBP1 billion capital investment programme, which is now being delivered with greater efficiency and pace. Passengers and airlines are already benefiting from new, modern facilities and we are currently investing around GBP20 million per month," Stewart Wingate, Chief Executive Officer. Source: London Gatwick, 27-Jun-2011.