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28 November 2012
(Gatwick Airport Limited (“the Company”) is the owner and operator of Gatwick Airport (“Gatwick”))Gatwick Airport delivers a robust financial performance, driven by passenger growth and operational excellence despite the economic headwinds· Turnover up 3.6% to £325.8 million· EBITDA up 4.8% to £172.0 million · Robust financial performance reflects passenger growth, increased income per passenger and closely managed costs· Investment programme delivering new, improved and innovative facilities, on schedule and on budget· Continued growth in short haul markets into Europe together with new long haul carriers to Asian markets contributing to London’s connectivity to the Far East· Continuous improvement in operational performance, delivering great customer service, as reflected in record passenger ratings
(£m) unless stated
Six months ended 30 September
Six months ended 30 September
Passengers (in millions)
Regulatory Asset Base2
1. Earnings before interest, tax, depreciation and amortisation2 The Company’s net debt and Regulatory Asset Base are shown as at 31 March 2012. Stewart Wingate, Chief Executive Officer of Gatwick Airport, said:
“These strong half year results come at the same time as Gatwick’s enters its fourth year under new ownership. In that time we have focused on growth and delivering greater passenger choice, convenience, better customer service and, crucially, more connections for both business and leisure travellers.
“Three years of competition has seen Gatwick grow its European short haul business, whilst also opening up new routes to key markets in Russia, China, Vietnam and Korea. We have seen passenger growth throughout this period and our quality standards are today unparalleled.
“This proves passengers are best served by allowing airports to compete. It is why we recently announced our plans to explore second runway options as we believe growth at Gatwick is the best option for increasing connectivity for the next generation.
“Over the next three years we will continue to transform the airport, maximising the opportunities in the short-haul market whilst stepping up our efforts to attract airlines that serve markets of strategic importance to the UK.”
For further information, please contact:
Visit www.gatwickairport.com/investor to download a copy of our Directors’ Report and Unaudited Interim Financial Statements for the 6 months to 30 September 2012
t: + 44 (0) 1293 505000
About London Gatwick
Gatwick Airport is the UK’s second largest airport and the most efficient single-runway airport in the world. It serves more than 200 destinations in 90 countries for more than 38 million passengers a year on short and long-haul point-to-point services. It is also a major economic driver for the South-East region, generating around 21,000 on-airport jobs and a further 10,000 jobs through related activities. The airport is 28 miles south of London with excellent public transport links, including the Gatwick Express. Gatwick Airport is owned by a group of international investment funds, of which Global Infrastructure Partners is the largest shareholder.
In its December 2013 interim report, the Airports Commission included London Gatwick and Heathrow on its shortlist of potential locations for a new runway in the UK. Expansion at Gatwick will best meet the UK’s aviation needs for the future, can provide the greatest economic boost with the least environmental impact, and a new runway can be operational by 2025. For further information, see: www.gatwickobviously.com
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