At or for nine months ended 30 September | 2014 | 2013(1) | Change (%) |
(figures in £m unless otherwise stated) |
| ||
Revenue | 1,986 | 1,836 | 8.2 |
Adjusted EBITDA (2) | 1,172 | 1,043 | 12.4 |
Cash generated from operations | 1,112 | 1,002 | 11.0 |
Adjusted pre-tax profit (3) | 194 | 219 | (11.4) |
Pre-tax profit | 58 | 266 | n.m |
| |||
Heathrow (SP) Limited consolidated net debt(4) | 11,762 | 11,264 | 4.4 |
Heathrow Finance plc consolidated net debt(4) | 12,517 | 12,025 | 4.1 |
Regulatory Asset Base(4) | 14,844 | 14,585 | 1.8 |
| |||
Passengers (m) (5) | 55.7 | 54.8 | 1.5 |
Net retail income per passenger (5) | £6.34 | £6.24 | 1.7 |
For notes (1) to (5) see Definitions and notes in notes to editors.
John Holland-Kaye, Chief Executive Officer of Heathrow, said:
“Heathrow continues to deliver against key targets, with more passengers than ever choosing to use Heathrow and record passenger satisfaction numbers at the UK’s only hub airport. We successfully completed the transition of 26 airlines into Terminal 2: The Queen’s Terminal, with over 40,000 passengers enjoying the world class facility every day.
With the Airports Commission launching its national consultation on airport capacity expansion imminently, Heathrow expansion is increasingly being seen as not only the best option to keep Britain at the heart of the global economy, but also as politically deliverable, with growing support from local communities, politicians and businesses across the UK.”
Definitions and notes
(1) Heathrow only data, with the exception of Adjusted pre-tax profit and Pre-tax profit which include discontinued operations
(2) Adjusted EBITDA is earnings before interest, tax, depreciation and amortisation and exceptional items
(3) Adjusted pre-tax profit is before exceptional items, gains/losses on disposals and fair value adjustments
(4) 2013 net debt and RAB figures at 31 December 2013. Nominal net debt excluding intra-group loans and including inflation-linked accretion
(5) Changes in passengers and net retail income per passenger are calculated using unrounded passenger data
