27 FEBRUARY 2017

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Article from BTNews 27 FEBRUARY 2017

Heathrow financial results

The provisional 2016 financial results for Heathrow highlighted a record 75.7m passengers (+1.0%).  It remains Europe’s busiest airport. 

Pre tax profits showed a 19.7% rise from £223m to £267m.  The strong financial performance clearly underpins the expansion plans with revenue of £2,807m (+1.5%) and adjusted EBITDA of £1,682m (+4.8%) reflecting continued cost control and strong retail income growth.

The airport says the resilient UK economy boosted passenger volumes at the end of 2016, the trend continuing into the early weeks of 2017

What is not so obvious is the contribution Heathrow to the export industry in terms of cash value.  Over a over a quarter of the UK’s non-EU exports by value passes through the airport.  Cargo volumes increased 3.0% in 20 16 to 1.54m metric tonnes (2015: 1.50m).

John Holland-Kaye, Chief Executive Officer, noted in his results announcement:

“2016 was a milestone year for Heathrow. I am very proud of what our 76,000 colleagues have achieved.  We gave better service at lower cost to a record number of passengers and helped British businesses across the country trade more with the rest of the world.

“We have started the planning process for expansion and are preparing the skills and the supply chain we will need to build it sustainably and affordably. Heathrow is delivering for Britain.”

 http://www.heathrowairport.com

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