The Worlds Leading Airport Company
| Company | BAA Airports Limited |
|---|---|
| Date | 22.02.2012 |
BAA (SP) Limited, the owner of BAA’s two London airports of Heathrow and Stansted, today announces its results for the year ended 31 December 2011.
- Heathrow operating at full capacity as it achieves record annual traffic
- 87.4 million passengers at Heathrow and Stansted with 2% underlying growth at Heathrow
- Strong service performance with highest ever passenger satisfaction at Heathrow
- Revenue up 9.9% reflecting higher tariffs and continued strong retail performance
- Adjusted EBITDA up 17.1% enabling continued significant Heathrow capital investment
- Further increase in profitability and investment anticipated in 2012
- Capital structure strengthened with £3 billion in new financing raised in last 12 months
- New £2 billion Terminal 2 to deliver further state of the art facilities from 2014
|
At or for year ended 31 December (figures in £m unless otherwise stated) |
2011 |
2010 |
Change (%) |
|---|---|---|---|
|
Revenue |
2,280.0 |
2,074.3 |
9.9 |
|
Adjusted EBITDA (1) |
1,132.1 |
966.9 |
17.1 |
|
Cash generated from operations |
1,132.2 |
918.5 |
23.3 |
|
Adjusted pre-tax loss (2) |
(166.7) |
(206.2) |
(19.2) |
|
Pre-tax loss |
(255.8) |
(316.6) |
(19.2) |
|
BAA (SP) Limited consolidated debt (3) |
10,442.6 |
9,921.2 |
5.3 |
|
BAA (SH) plc consolidated net debt (3) (4) |
10,992.2 |
10,401.1 |
5.7 |
|
Regulatory Asset Base |
13,849.7 |
12,776.0 |
8.4 |
|
Passengers (m) (5) |
87.4 |
84.3 |
3.7 |
|
Net retail income per passenger (5) |
£5.58 |
£5.29 |
5.5 |
