Heathrow press releases

24 April, 2015

Results for the three months ended 31 March 2015

British Airways Boeing 747 400

 

  • Demand to use Heathrow continues to rise, with traffic up 2.0% to 16.4 million passengers. Vietnam Airlines is the latest airline to move its London operations from Gatwick to Heathrow
  • Heathrow delivers a strong first quarter financial performance with revenue increasing 8.0% to £622 million and EBITDA up 7.2% to £342 million
  • Strong global demand to invest in Heathrow, with £850 million of funding raised to date in 2015
  • Heathrow named the ‘Best airport in Western Europe’ by Skytrax for the first time
  • Heathrow announced new measures to boost domestic connectivity and connect the whole of the UK to global growth markets

 

At or for three months ended 31 March

2015 

2014 

Change (%)

(figures in £m unless otherwise stated)

 

 

 

Revenue

622 

576 

8.0 

Adjusted EBITDA(1)

342 

319 

7.2 

Cash generated from operations

316 

317 

(0.3)

Cash flow after investment and interest(2)

(53)

(151)

n.m. 

Pre-tax profit/(loss)

71 

(10)

n.m. 

 

 

 

 

Heathrow (SP) Limited consolidated net debt(3)

11,793 

11,653 

1.2 

Heathrow Finance plc consolidated net debt(3)

12,695 

12,560 

1.1 

Regulatory Asset Base(3)

14,790 

14,860 

(0.5)

 

 

 

 

Passengers (m)(4)

16.4 

16.0 

2.0 

Net retail income per passenger (4)

£6.78 

£6.42 

5.6 

For notes (1) to (4) see Definitions and notes on page 2.

 

John Holland-Kaye, Chief Executive Officer of Heathrow, said:

“Heathrow is a fantastic airport and a great front door for Britain. We’re a business that’s delivering an unrivalled passenger experience in western Europe, we’ve got over 30 airlines knocking on our door waiting to serve the UK’s hub, our world-class shareholders are lined up to privately fund expansion and with an additional runway we will create 40,000 new skilled and well-paid jobs for the local community.

We are ready to deliver the only runway that can connect all of Britain to global growth. All we need is a quick decision, so let’s get on with it.”