Heathrow press releases

20 October, 2016

Results for the nine months ended 30 September 2016

Aircraft

 

  • Continued strong Airport Service Quality score of 4.14 in Q3 reflecting Heathrow’s high service standards. Heathrow is recognised as the leading airport in Europe, receiving for the third time ACI Europe’s ‘Best Major Airport’ award
  • Record 57.3 million passengers used Heathrow in nine months, up 0.7%. Cargo volumes increased 2.1% with Heathrow’s links to fast-growing economies boosting British businesses
  • Strong financial performance with revenue up 1.2% to £2,093 million and Adjusted EBITDA up 4.4% to £1,274 million reflecting lower costs and better value
  • Heathrow outlines ‘Brexit Boost’ plan to connect the UK to growth faster, adding 25,000 additional annual flights from 2021 on existing runways
  • The Scottish Government joins the Welsh Government and DUP in backing an expanded Heathrow. They join a chorus of cross-party politicians backing the project as best for the whole of Britain

 

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

“We are delighted to be named the best major airport in Europe.  Heathrow's passengers are getting better service at lower prices - and record numbers are choosing the UK's hub airport.   The Prime Minister is showing leadership and will decide on the critical national issue of Heathrow expansion in the next few days. 

“Heathrow is the right choice to help make Britain stronger and fairer for everyone – that’s why there is such broad support across the UK from Newquay to Inverness for our plans – and we stand ready to deliver the runway that will keep Britain a confident, outward looking trading nation as soon as we get the greenlight from Government.”

 

At or for nine months ended 30 September  

2016 

2015 

Change (%)

(£m unless otherwise stated)

 

 

 

Revenue

2,093

2,068

1.2 

Adjusted EBITDA(1)

1,274

1,220

4.4 

Cash generated from operations

1,220

1,156

5.5 

Cash flow after investment and interest(2)

255

177

44.1 

Adjusted pre-tax profit(3)

202

182

11.0 

 

 

 

 

Heathrow (SP) Limited consolidated net debt(4)

12,016

11,745

2.3 

Heathrow Finance plc consolidated net debt(4)

12,835

12,670

1.3 

Regulatory Asset Base(4)

15,112

14,921

1.3 

 

 

 

 

Passengers (m)(5)

57.3

56.9

0.7 

Retail revenue per passenger (£)(5)

7.83

7.27

7.7 

Notes 1-5: see page 2

 

The full results are attached.