Heathrow Airport has released its 1st quarter results highlighting key accomplishments which include growth in revenue and earnings, and a new airline customer.
- Revenue Growth 3.2% to £642 Million
- EBIDTA up 7.3% to £367 compared to Q1 2015
- Retail Revenue £136 Million, up 10.6% compared to Q1 2015
- Aeronautical Revenue £389 Million, up 1.8% compared to Q1 2015
- Garuda Indonesia launched 5-times-weekly service direct to Jakarta
- Oman Air purchased new slots for a second daily service to Muscat
Garuda Indonesia launches direct flights to Jakarta from Heathrow. Source: Heathrow Airport
“It’s been a fantastic start to 2016 and Heathrow is performing strongly on all fronts. Our colleagues are delivering excellent value for our passengers – better service at a lower cost,” said Heathrow Chief Executive Officer John Holland-Kaye.
Adding, “At a time of uncertainty about Britain’s place in the world, families and businesses are counting on the Prime Minister to secure Britain’s long term future. An expanded Heathrow will be an economic powerhouse, a global symbol of a confident, outward looking Britain. Let’s make it happen.”
Heathrow also signed a partnership with Hong Kong International Airport which will help the two hubs collaborate on innovation and service.
The airport also points out its critical role supporting British industry reporting that, “independent analysis shows that a number of routes from Heathrow, Britain’s biggest port, are already full for freight.”
Heathrow Q1 By the Numbers
| At or for three months ended 31 March | 2016 | 2015 | Change (%) |
| (£m unless otherwise stated) | |||
| Revenue | 642 | 622 | 3.2 |
| EBITDA(1) | 367 | 342 | 7.3 |
| Cash generated from operations | 332 | 316 | 5.1 |
| Cash flow after investment and interest(2) | (27) | (53) | n.m |
| Pre-tax profit(3) | 23 | 19 | 21.1 |
| Heathrow (SP) Limited consolidated net debt(4) | 11,884 | 11,745 | 1.2 |
| Heathrow Finance plc consolidated net debt(4) | 12,785 | 12,670 | 0.9 |
| Regulatory Asset Base(4) | 14,911 | 14,921 | (0.1) |
| Passengers (m)(5) | 16.8 | 16.4 | 2.6 |
| Retail revenue per passenger (£) (5) | 8.10 | 7.52 | 7.7 |
Featured Image: Source, Heathrow Airport