- 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.”
