GATWICK AIRPORT LIMITED RESULTS FOR THE YEAR ENDED 31 MARCH 2014
|
|
- Julius Campbell
- 5 years ago
- Views:
Transcription
1 GATWICK AIRPORT LIMITED RESULTS FOR THE YEAR ENDED 31 MARCH 2014
2 OPERATIONAL AND FINANCIAL PERFORMANCE HIGHLIGHTS TRAFFIC GROWTH EBITDA GROWTH PROFIT FOR THE YEAR CAPITAL EXPENDITURE RAB* SENIOR NET DEBT* SENIOR RAR * + 4.8% % 58m 201m 2,499m 1,595m 0.64x Record passengers of 35.9m driven by significant growth in existing airlines Increased airport efficiencies through ACDM55 with A380 and Dreamliner services operating daily Q5 investment programme of 1.2 billion completed delivering airport transformation Bond issuance of 350 million completed and new bank facility for next 5 years Contracts and Commitments framework adopted by the CAA Shortlisted by the Airports Commission for a new runway in the South East * All figures are for the year ended 31 March 2014 except RAB, Senior Net Debt and Senior RAR which are shown as at 31 March
3 OUR AMBITION & STRATEGY, CONSISTENTLY APPLIED
4 HELP OUR AIRLINES GROW easyjet traffic increased by 6.7% in the year, new business routes to Paris, Strasbourg and Brussels from March 2014 plus acquisition of Flybe slots, with 60 based aircraft for summer 2014 New airlines and routes, long & short-haul, business & leisure Introduction of BA hand baggage only fares and route specific marketing increased load factors, 11 th long haul aircraft in summer 2014, representing 14% of traffic Norwegian Air traffic increased in 2014 by 66.6%, 6 aircraft based at Gatwick including a Dreamliner from Summer 2014 with new routes to North America Turkish Airlines expanded service to both Istanbul airports, frequency 4 per day from April x777 aircraft daily with additional seat capacity (increase of 25%) to Dubai, daily A380 service commenced in March 2014 Vietnam Airlines offers only direct flight from the UK to Vietnam with increased frequencies Flynas new low cost carrier operating London to Saudi Arabia 4
5 CONSISTENTLY HIGH SERVICE AND SATISFACTION LEVELS Service Quality Remains the Best in the London System 100% 90% 80% 70% 60% 50% % Measures Failed % Measures Passed Change of ownership 08/09 09/10 10/11 11/12 12/13 13/14 During 2013/14 the Company passed 415 out of 420 SQR measures with a pass rate of 99% Security Clearance Beats Targets for Fourth Year Running Significant Improvements Independently Recognised Benchmarking Q LGW Avg Benchmarking Q LGW Avg Source: The Airport Service Quality (ASQ) - an independent survey run under the auspices of Airports Council International (ACI) Sustained Passenger Ratings at Near 12/13 Record Levels North Terminal Average <5 min South Terminal Average <5 min Target 100% 95% 90% 85% 4.3 Overall QSM Average % 75% Change of ownership 4.0 Change of ownership 08/09 09/10 10/11 11/12 12/13 13/14 08/09 09/10 10/11 11/12 12/13 13/
6 DELIVERING AIRPORT TRANSFORMATION PROGRAMME Major airport transformation programme delivered Operational redesign using Six Sigma/Lean Techniques 201m investment in 2013/14 1.2bn total investment in 6 years of Q5+1 Projects completed during Q5+1 New baggage systems for both terminals ( 90m) South Terminal IDL and Walkthrough Duty Free ( 64m) Main runway and taxiway resurfacing ( 50m) South Terminal security ( 47m) Pier 5 Phase 1 reconfiguration ( 45m) ACDM55 airfield capacity and operations projects ( 8m) A380 pier service ( 6m) Q5+1 Capital Expenditure ( m) Investment programme for the 7 year period beyond March 2014 developed and being consulted upon, with a number of key projects already commenced Pier 1 redevelopment ( 183m) North Terminal check-in, security and IDL ( 102m) Pier 5 phase 2 reconfiguration ( 37m) /09 09/10 10/11 11/12 12/13 13/14 6
7 GATWICK RETAIL DEVELOPMENT HIGHLIGHTS FOR FINANCIAL YEAR 2013/14 South Terminal IDL project completed on time & on budget 144 retail outlets across the airport campus 82% of departing passengers made a retail or food & beverage purchase 33 new units opened during the year 21 refurbishments were also completed 3 International awards were won EVER IMPROVING CUSTOMER SATISFACTION Customer satisfaction is at an all time high across both terminals 87.2% of our passengers rated the selection of food & beverage outlets as excellent or good at the end of Q % gave the same ratings to the selection of retail outlets Gatwick is ranked No. 1 for its provision of restaurant facilities in the ASQ survey which benchmarks Gatwick against 23 major European Airports 7
8 GROWTH THROUGH ADDITIONAL TRAFFIC Gatwick s most limiting resource enhanced by ACDM55 55 runway movements an hour declared and taken up for Summer 2014 compared to 53 in Summer 2013 Drive for 58 runway movements an hour 2012/ /14 Change % ATMs (k) % Seats per ATM % Load factors 82.6% 83.0% 0.4% pts Passengers (m) % 8
9 Rolling Annual Total (millions) CONTINUED TREND OF STEADY TRAFFIC GROWTH 40 Passengers Rolling Annual Total /09 09/10 10/11 11/12 12/13 13/14 Moving Average Total Recent growth +4.8% in 2013/14 Full year 2013/14 was 35.9m passengers Latest traffic forecasts +5.8% forecast growth for 2014/15 Growing to 38.0m passengers in 2014/15 9
10 TRAFFIC GROWTH IN A COMPETITIVE MARKET GATWICK HEATHROW STANSTED LUTON Last 12 months +4.8% Last 12 months +3.0% Last 12 months +2.9% Last 12 months +1.0% 6.0% 5.0% 4.0% 5.3% 4.3% 4.3% 4.5% 3.0% 2.0% 1.0% 0.0% 1.3% 1.2% 1.7% 1.8% 1.8% 1.3% 1.8% 0.3% 0.9% 1.3% -1.0% -2.0% -0.9% -3.0% -4.0% -5.0% -4.4% 6 mths to Mar 14 6 mths to Sep 13 6 mths to Mar 13 6 mths to Sep 12 Targeted business development efforts have resulted in increased volumes Market remains competitive with growth opportunities being distributed across rival airports 10
11 SOLID FINANCIAL PERFORMANCE DELIVERING EBITDA TARGET m YEAR ENDED 31 MARCH 2013 YEAR ENDED 31 MARCH 2014 CHANGE Passengers (m) % Turnover % Operating costs (excl depreciation and amortisation) (311.8) (334.3) 7.2% EBITDA (pre-exceptionals) % Depreciation (110.7) (112.4) 1.5% EBIT (pre-exceptionals) % Capital expenditure (11.3)% Net debt* 1, , % RAB* 2, , % *Net debt and RAB are shown as at 31 March 2013 and Includes a 15.6m reduction due to a capital expenditure trigger payment in the year ended 31 March
12 10.2% INCREASE IN TURNOVER REFLECTING TRAFFIC GROWTH AND HIGHER SPEND PER PASSENGER Aeronautical revenues increased by 11.2%, due to a increase in the allowable yield and 4.8% rise in passengers 15.6m reduction in 2013 due to a capital expenditure trigger Turnover analysis TOTAL 538.9m +10.2% 593.7m Net retail income per passenger increased by 4.2% to 3.72 Flagship WDF store open for a full year 33 new retail units opened this year % Net car parking revenue per passenger % increased by 10.6% to 1.35 New premium products, improved % 65.6 website and online marketing % Aeronautical Retail Car parking Other income 12
13 7.2% INCREASE IN COSTS TO SUPPORT SERVICE LEVELS AND REGULATORY AND AIRPORTS COMMISSION WORK Staff costs increase driven by Increase in security staff to support service levels and increased passenger volumes First year of 2 year pay deal for all staff Pension costs up 2.5m Increased bonus payments reflecting improvements in business performance General expenses reflects Increased consultancy cost to support Q6 regulatory work Increased R2 marketing and consultancy costs Additional car parks costs to drive revenue per passenger growth Utilities costs remained flat due to energy saving programmes and the mild winter offsetting changes in prices Operating costs analysis TOTAL 311.8m +7.2% 334.3m % % % Maintenance + IT +11.8% General + Other Expenses Rates + Utilities Staff Costs (net) Note: operating costs excluding depreciation and amortisation 13
14 NET DEBT 31 MARCH 2013 TO 31 MARCH 2014 m 1, , , , , , (274.2) (322.4) (25.1) 1, , , , ,100.0 Opening Capital expenditure Net interest Cash flow from ops Restricted payments Bond issuance Repayment of bank debt Other Closing 14
15 BANK FACILITIES REFINANCED AND TRANSITION TO TRANSFER RAB DEBT MATURITY PROFILE REDUCES REFINANCING RISK 1,550m Class A Bonds Maturities m Bank Facilities March 2019 TRANSITION TO TRANSFER RAB Transfer date 1 April 2014 Relevant Multiple 11.1 STRONG LIQUIDITY POSITION TO FUND ONGOING CAPITAL INVESTMENT PROGRAMME Annual cash flow from operations 274m for the year ended 31 March 2014 Undrawn bank commitments 300m as at 31 March 2014 Restricted payment proposed 125m during 2014/2015 FINANCIAL RATIO YEAR ENDED 31 MARCH 2014 HISTORIC YEAR ENDED 31 MARCH 2014 TRANSFER DATE YEAR ENDING 31 MARCH 2015 YEAR ENDING 31 MARCH 2016 YEAR ENDING 31 MARCH 2017 Cash flow (per covenant) 225.3m 224.2m 227.2m 247.6m 250.8m Total interest (net) 71.5m 71.5m 77.4m 82.0m 89.2m Senior ICR ( trigger <1.50x) 3.15x 3.13x 2.94x 3.02x 2.81x Senior Net Debt (per covenant) 1,595.2m 1,595.2m 1,733.0m 1,766.2m 1,830.6m RAB 2,498.6m 2,622.4m 2,857.6m 3,151.3m 3,426.1m Senior RAR (trigger >0.70x) 0.64x 0.61x 0.61x 0.56x 0.53x 15
16 REGULATORY UPDATE Contracts & Commitments framework backed by a licence from 1 April Price Limitation on gross core yield from airport charges: RPI+1.0% p.a. Based on published tariff over 7 years Limitation on net blended yield from airport charges: RPI+0% p.a. Based on published tariff less contract discounts Measured over 7 year term prices may be lower / higher than price path in a given year Represents the yield actually received by Gatwick CAA price monitoring: fair price benchmark using traditional RAB-based building block approach: Net blended yield of RPI-1.6% p.a. Assumed a WACC of 5.7% and significantly higher traffic forecasts Forms part of the monitoring regime and is therefore a benchmark, not a licence price cap Service Based on Q5 service quality regime, but with two additional measures Outbound baggage system performance Security queues <30mins any measurement period on a day Service rebates remain up to 7% of airport charges in aggregate but no bonuses are available Other Terms Investment & consultation commitment Minimum capex requirements - 100m p.a. average with no capital expenditure triggers Information commitment - no separate regulatory accounts Operational and financial resilience commitments No RAB 16
17 17 17
18 18 18
19 EXPANSION AT GATWICK WILL DELIVER TWO WORLD-CLASS GATEWAYS FOR LONDON AND THE UK GATWICK WILL PROVIDE More capacity, more traffic and more routes Greater competition and value for money More convenient access for more people with seat capacity on rail services due to double by 2018 and triple by 2035 Greater economic benefits GATWICK WILL DELIVER THIS Quicker with less disruption At less than half the cost and much lower risk With airport charges of nearly onethird an expanded Heathrow With no need for additional tax payer funding With noise impacts affecting only one twentieth of the people affected by Heathrow 19
20 CONCLUSION Despite the enduring challenges of subdued economic growth, traffic growth has continued through both incumbent and new airlines and routes allowing the airport to achieve record number of passengers. Growth is expected to continue throughout 2014/15 Robust financial performance in line with expectations, reflecting passenger growth, new retail and car parking products delivering increased income per passenger and careful cost management Continued success in service quality measures with Gatwick remaining the best performing London airport Q5 investment programme completed; delivering new, improved and innovative facilities Contracts and Commitments proposal adopted by the CAA tailored offerings to each airline enhancing the customer experience Continuing to make submissions to the Airports Commission supporting Gatwick s unique opportunities in being able to increase airport capacity in the UK Full details of today s announcement at: gatwickairport.com/investor 20
21 DISCLAIMER This material contains certain tables and other statistical analyses (the Statistical Information ) which have been prepared in reliance on publicly available information and may be subject to rounding. Numerous assumptions were used in preparing the Statistical Information, which may or may not be reflected herein. Actual events may differ from those assumed and changes to any assumptions may have a material impact on the position or results shown by the Statistical Information. As such, no assurance can be given as to the Statistical Information s accuracy, appropriateness or completeness in any particular context; nor as to whether the Statistical Information and/or the assumptions upon which it is based reflect present market conditions or future market performance. The Statistical Information should not be construed as either projections or predictions nor should any information herein be relied upon as legal, tax, financial or accounting advice. Gatwick Airport Limited ( GAL ) does not make any representation or warranty as to the accuracy or completeness of the Statistical Information. These materials contain statements that are not purely historical in nature, but are forward-looking statements. These include, among other things, projections, forecasts, estimates of income, yield and return, and future performance targets. These forward-looking statements are based upon certain assumptions, not all of which are stated. Future events are difficult to predict and are beyond GAL s control. Actual future events may differ from those assumed. All forward-looking statements are based on information available on the date hereof and neither GAL nor any of its affiliates or advisers assumes any duty to update any forward-looking statements. Accordingly, there can be no assurance that estimated returns or projections will be realised, that forward-looking statements will materialise or that actual returns or results will not be materially lower that those presented. This material should not be construed as an offer or solicitation to buy or sell any securities, or any interest in any securities, and nothing herein should be construed as a recommendation or advice to invest in any securities. This document has been sent to you in electronic form. You are reminded that documents transmitted via this medium may be altered or changed during the process of electronic transmission and consequently neither GAL nor any person who controls it (nor any director, officer, employee not agent of it or affiliate or adviser of such person) accepts any liability or responsibility whatsoever in respect of the difference between the document sent to you in electronic format and the hard copy version available to you upon request from GAL. Any reference to GAL will include any of its affiliated associated companies and their respective directors, representatives or employees and/or any persons connected with them. 21
22 QUESTIONS
Gatwick Airport Limited. Results for six months ended 30 September 2012
Gatwick Airport Limited Results for six months ended 30 September 2012 28 November 2012 Operational and financial performance Highlights Traffic growth + 1.2% EBITDA + 4.8% Capital expenditure 119.1m Despite
More informationGATWICK AIRPORT LIMITED RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2013
GATWICK AIRPORT LIMITED RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2013 OPERATIONAL AND FINANCIAL PERFORMANCE HIGHLIGHTS UNDERLYING TRAFFIC GROWTH * EBITDA GROWTH CAPITAL EXPENDITURE RAB** SENIOR NET
More informationGATWICK AIRPORT LIMITED
GATWICK AIRPORT LIMITED Investor briefing CAA Q6 Final Proposals 7 October 2013 AGENDA Introduction Airport Commitments o Price o Service o Other terms CAA licence & monitoring, underpinning the Airport
More informationBAA (SP) Limited Results for six months ended 30 June July 2011
BAA (SP) Limited Results for six months ended 30 June 2011 July 2011 Record Q2 Heathrow traffic Good overall service standards Strong financial results Successful dollar and sterling financings H1 2011
More informationHeathrow (SP) Limited
28 April 2014 Heathrow (SP) Limited Results for three months ended 31 March 2014 Strong operational and financial performance at the outset of the new regulatory period Highest ever passenger satisfaction
More informationHeathrow (SP) Limited
Draft v2.0 10 Feb Heathrow (SP) Limited Results for year ended 31 December 2013 24 February 2014 Strong operational and financial performance in 2013 Passenger satisfaction at record high and over 72 million
More informationBAA s London airports
BAA s London airports Holding company debt BNP Paribas High Yield and Leveraged Finance Conference 10 January 2012 Introduction to BAA group BAA owns six UK airports Heathrow, Stansted, Edinburgh, Glasgow,
More informationGATWICK AIRPORT JOINS VINCI AIRPORTS December 2018
GATWICK AIRPORT JOINS VINCI AIRPORTS December 2018 Asset presentation Gatwick is the 2 nd largest airport in the UK and the 8 th busiest in Europe with 46 mpax Key features 46 mpaxin FY18, in the wealthiest
More informationPerformance monitoring report for 2014/15
Performance monitoring report for 20/15 Date of issue: August 2015 Gatwick Airport Limited Summary Gatwick Airport is performing well for passengers and airlines, and in many aspects is ahead of the performance
More informationHighlights from the Annual Results December 2007
Highlights from the Annual Results December 2007 Disclaimer The information in this document is taken from the BAA 2007 Annual Results ( the Results ) which were published on 11 March 2008 and other public
More informationGATWICK AIRPORT LIMITED REGULATORY ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014
CONTENTS Page Financial Review 1 Performance Report 7 Notes to the Performance Report 8 Financial Review General overview In March 2008 the Civil Aviation Authority ( CAA ) published its price control
More informationSTANSTED AIRPORT LIMITED REGULATORY ACCOUNTS PERFORMANCE REPORT FOR THE YEAR ENDED 31 MARCH Financial Review...1. Performance Report...
PERFORMANCE REPORT CONTENTS Page Financial Review...1 Performance Report...3 Notes to the Performance Report...4 Stansted Regulatory Accounts PERFORMANCE REPORT Financial Review General overview Stansted
More informationIVY HOLDCO LIMITED Report and Unaudited Interim Consolidated Financial Statements for the six months ended 30 September 2014
Report and Interim Consolidated Financial Statements for the six months Company Registration Number 07497036 REPORT AND UNAUDITED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER
More informationGATWICK AIRPORT LIMITED
Report and Interim Financial Statements for the six months Company Registration Number 1991018 REPORT AND UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER CONTENTS Page Business
More information2. Our response follows the structure of the consultation document and covers the following issues in turn:
Virgin Atlantic Airways response to the CAA s consultation on Economic regulation of capacity expansion at Heathrow: policy update and consultation (CAP 1658) Introduction 1. Virgin Atlantic Airways (VAA)
More informationMonarch airlines response to the CAA s review on Gatwick s commitment framework
Monarch airlines response to the CAA s review on Gatwick s commitment framework EXECUTIVE SUMMARY Monarch Airlines Ltd (Monarch) welcome the CAA review of the contract and commitments framework, to ensure
More informationQ3 FY18 Business Highlights
Q3 FY18 RESULTS Q3 FY18 Business Highlights 1 2 3 4 5 6 7 Record passengers 7.1m, record revenues 423m Investing in growth 24% passenger growth in Q3 Disciplined cost management flat ex-fuel CASK Largest
More informationIVY HOLDCO LIMITED Report and Unaudited Condensed Interim Consolidated Financial Statements for the six months ended 30 September 2016
Report and Condensed Interim Consolidated Financial Statements for the Company Registration Number 07497036 REPORT AND UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED
More informationAnalyst and Investor Conference Call Q Ulrik Svensson, CFO and Member of the Executive Board
Analyst and Investor Conference Call Q2 2017 Ulrik Svensson, CFO and Member of the Executive Board Frankfurt, 2 August 2017 Disclaimer The information herein is based on publicly available information.
More informationPerformance monitoring report for first half of 2016
Performance monitoring report for first half of 2016 Gatwick Airport Limited 1. Introduction Date of issue: 5 December 2016 This report provides an update on performance at Gatwick in the first half of
More informationHeathrow (SP) Limited and Heathrow Finance plc. Investor Report
Heathrow (SP) Limited and Heathrow Finance plc Investor Report 27 June 2017 Important notice This Investor Report does not contain or constitute an offer to sell or issue or a solicitation of an offer
More informationBAA s regulated airports Investor Report. Issued on 26 June 2012
BAA s regulated airports Investor Report Issued on 26 June 2012 Important notice This Investor Report (other than Appendix 5) is being distributed by BAA Airports Limited (as Security Group Agent ) on
More informationPerformance monitoring report 2017/18
Performance monitoring report /18 Gatwick Airport Limited 1. Introduction Date of issue: 20 July 2018 This report provides an update on performance at Gatwick in the financial year /18, ending 31 March
More informationEconomic regulation: A review of Gatwick Airport Limited s commitments framework
Economic regulation: A review of Gatwick Airport Limited s commitments framework GAL S RESPONSE TO CAA CONSULTATION CAP 1387 Purpose DATE OF ISSUE: 18 APRIL 2016 This paper provides the response from Gatwick
More informationGATWICK AIRPORT LIMITED REGULATORY ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2010
CONTENTS Page Financial review 1 Performance Report 5 Notes to the Performance Report 6 Financial review General overview During the year ended 31 March 2010, Airport Limited ( the Company ) underwent
More informationInformation meeting. Jean-Cyril Spinetta Chairman and CEO
Information meeting Jean-Cyril Spinetta Chairman and CEO Forward-looking statements The information herein contains forward-looking statements about Air France-KLM and its business. These forward-looking
More informationSTRATEGIC INVESTMENT IN MANCHESTER AIRPORT
Report To: EXECUTIVE CABINET Date: 7 February 2018 Cabinet Deputy/Reporting Officer: Subject: Report Summary: Cllr Bill Fairfoull Executive Member (Finance & Performance) Tom Wilkinson, Assistant Director
More informationGATWICK AIRPORT LIMITED
Report and Interim Financial Statements for the six months Company Registration Number 1991018 REPORT AND UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER CONTENTS Page Business
More informationAEROFLOT ANNOUNCES FY 2017 IFRS FINANCIAL RESULTS
AEROFLOT ANNOUNCES FY 2017 IFRS FINANCIAL RESULTS Moscow, 1 March 2018 Aeroflot Group ( the Group, Moscow Exchange ticker: AFLT) today publishes its audited financial statements in accordance with International
More informationPerformance monitoring report for first half of 2015
Performance monitoring report for first half of 2015 Gatwick Airport Limited 1. Introduction Date of issue: 11 November 2015 This report provides an update on performance at Gatwick in the first half of
More informationCebu Air, Inc. 2Q2014 Results of Operation
Cebu Air, Inc. 2Q2014 Results of Operation 1 Disclaimer This information provided in this presentation is provided only for your reference. Such information has not been independently verified and, as
More informationFor personal use only
ASX and Media Release QANTAS DELIVERS RECORD FIRST HALF PROFIT, INVESTS IN AIRCRAFT AND TRAINING Sydney, 22 February 2018 Underlying Profit Before Tax: $976 million (up 15%) Record results for Qantas Domestic,
More informationInterim Management Report First Half Results 2010/11. October 29, 2010
Interim Management Report First Half Results 2010/11 October 29, 2010 Disclaimer Certain information included in these statements is forward-looking and involves risks and uncertainties that could cause
More informationQ3 FY 14 IMS Analyst & Investor presentation. 3 months to 30 June 2014
Q3 FY 14 IMS Analyst & Investor presentation 3 months to 30 June 2014 24 July 2014 1 1 Continued solid performance 1. Drive demand, conversion and yields across Europe Passenger numbers up by 9.4%; load
More informationFirstGroup plc South Western
FirstGroup plc South Western Rail franchise award Monday 27 March 2017 Overview Delighted to be selected by the Department for Transport (DfT) to operate the South Western franchise for at least seven
More informationFY 2018 RESULTS BOLOGNA, MARCH 15 TH 2019
RESULTS BOLOGNA, MARCH 15 TH GROUP 2 BOLOGNA S AIRPORT MAIN CHARACTERISTICS 8.5 MILLION PAX 76.8% INTERNATIONAL PAX THE HIGHEST CONNECTIVITY GROWTH IN EU 2004-2014 +984% ACI Europe 2014 Airport Industry
More informationGreater Toronto Airports Authority Chad MacLean, Treasurer. BMO Capital Markets 2018 Infrastructure & Utilities Conference February 8, 2018
Greater Toronto Airports Authority Chad MacLean, Treasurer BMO Capital Markets 2018 Infrastructure & Utilities Conference February 8, 2018 Greater Toronto Airports Authority Chad MacLean, Treasurer BMO
More informationeasyjet response to CAA Q6 Gatwick final proposals
easyjet response to CAA Q6 Gatwick final proposals Summary easyjet does not support the proposals set out by the CAA, as they are not in the interests of our passengers. The proposals will unreasonably
More informationPerformance monitoring report for the second half of 2015/16
Performance monitoring report for the second half of 2015/16 Gatwick Airport Limited 1. Introduction DATE OF ISSUE: 7 JUNE 2016 This report provides an update on performance at Gatwick in the second half
More information2017 results: REVENUE up to million (+1.6%), NET PROFIT FOR THE PERIOD 1 shows significant increase to million (+12.
Business Results in 2017: Significant Rise in Profits of the Flughafen Wien Group Management Board Announces Substantial Upward Revision of Earnings Guidance and Traffic Figures for 2018 2017 results:
More informationTabcorp 2011 full year results
16 August 2011 Tabcorp 2011 full year results Highlights including demerged Casinos business Reported Net Profit After Tax (NPAT) $534.8 million, up 13.9% (includes oneoff demerger impacts) Normalised
More informationAuckland International Airport FY19 Interim Results: Positive start to year as airport progresses anchor infrastructure projects
Media Release 22 February 2019 Auckland International Airport FY19 Interim Results: Positive start to year as airport progresses anchor infrastructure projects Auckland Airport today announced its financial
More informationSeminario internacional sobre gestiόn privada de aeropuertos
Seminario internacional sobre gestiόn privada de aeropuertos Madrid K CHEONG Head of Economic Regulation Civil Aviation Authority United Kingdom Slide 1 UK privatisation entering a new phase of Economic
More informationParques Reunidos Corporate Presentation March 2016
Parques Reunidos Corporate Presentation March 216 Disclaimer The information contained in this presentation (the Presentation ), including but not limited to forward-looking statements, is provided as
More informationHalf Year F1 Results. November 4, 2015
Half Year F1 Results November 4, 2015 F17 Q1 Results 20 JULY 2016 Q1 BUSINESS HIGHLIGHTS Passenger growth of 18% to 5.8m pax on 17% seat growth Record underlying profit of 38.6m (+14%) despite Easter effect
More informationH RESULTS BOLOGNA, SEPTEMBER 4 TH 2017
H1 RESULTS BOLOGNA, SEPTEMBER 4 TH H1 GROUP 2 GROUP OVERVIEW STRONG GROWTH TRACK RECORD AND MOMENTUM STRATEGIC LOCATION AND WEALTHY CATCHMENT AREA H1 Among top 50 airports in Europe # 7 airport in Italy
More informationMedia Release. Qantas Group Full Year 2017 Financial Result 1. Sydney, 25 August 2017
Media Release Qantas Group Full Year 2017 Financial Result 1 Sydney, 25 August 2017 Underlying Profit Before Tax: $1,401 million (second highest in Qantas history) Statutory Profit Before Tax: $1,181 million
More informationQANTAS HALF YEAR 2015 FINANCIAL RESULTS 1
QANTAS HALF YEAR 2015 FINANCIAL RESULTS 1 Key points: Underlying Profit Before Tax: $367 million Statutory Profit After Tax: $206 million Transformation benefits: $374 million Comparable unit cost reduction:
More information2006 Interim Results. 03 May 2006
2006 Interim Results 03 May 2006 1 Unlocking our potential Strong foundation Powerful business model Great brand Strong market presence and scale The key to the future Building a strong leadership team
More informationQuarter Interim Management Statement. 28 July 2010
Quarter 3 2010 Interim Management Statement 28 July 2010 Week 4 priorities and initial impressions Priorities: Engage with staff, shareholders, customers and key suppliers Mitigation plan for recent operational
More informationCrown Resorts Limited
Crown Resorts Limited 2015 Full Year Results Presentation 13 August 2015 1 Crown Resorts Limited Results Overview Crown Resorts Limited (Crown) performance: Overall, the results for Crown s portfolio of
More informationCrown Limited Full Year. Results Presentation. 25 August 2011
Crown Limited 2011 Full Year Results Presentation 25 August 2011 1 Crown Limited Overview Normalised 1 NPAT up 18.0% to $340.3 million, Reported NPAT $335.9 million, up 14.9% Australian casinos performance:
More informationManaging through disruption
28 July 2016 Third quarter results for the three months ended 30 June 2016 Managing through disruption 3 months ended Like-for-like (ii) m (unless otherwise stated) Change 30 June 2016 30 June 2015 change
More informationGATWICK AIRPORT LIMITED
Annual Report and Financial Statements for the year ended 31 March 2017 Company Registration Number 1991018 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 CONTENTS Page Officers
More informationMarch 4, Investor Conference
March 4, 2014 Investor Conference Disclaimer This Investor Presentation is provided for your general information and convenience only, is current only as of its date and does not constitute an offer to
More information2012 Result. Mika Vehviläinen CEO
2012 Result Mika Vehviläinen CEO 1 Agenda Market environment in Q4 Business performance and strategy execution Outlook Financials 2 Market Environment According to IATA, Global air travel continues to
More informationCROWN ANNOUNCES 2010 FULL YEAR RESULTS
ASX / MEDIA RELEASE FOR IMMEDIATE RELEASE 26 August 2010 CROWN ANNOUNCES 2010 FULL YEAR RESULTS MELBOURNE: Crown Limited (ASX: CWN) today announced its results for the full year ended 30 June 2010: Normalised
More informationeasyjet response to CAA consultation on Gatwick airport market power
easyjet response to CAA consultation on Gatwick airport market power Introduction easyjet welcomes the work that the CAA has put in to analysing Gatwick s market power. The CAA has made significant progress
More informationKERRIE MATHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER. Macquarie Conference 4 MAY 2016
KERRIE MATHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER Macquarie Conference 4 MAY 2016 Disclaimer General securities warning This presentation has been prepared by Sydney Airport Limited (ACN 165
More informationEconomic regulation: A review of Gatwick Airport Limited s commitments framework
Consumers and Markets Group Economic regulation: A review of Gatwick Airport Limited s commitments framework Update CAP 1437 Published by the Civil Aviation Authority, 2016 Civil Aviation Authority, Aviation
More informationTRBUSINESS. It was also driven by an increase of long-haul destinations, and expanded short haul networks.
Manchester Airports Group (MAG) which owns Manchester, London Stansted, and East Midlands airports and manages Escape Lounges in the US under its MAG USA arm, says that passenger growth drove an 11.2%
More informationNomura Transport conference Carolyn McCall Chief Executive
Nomura Transport conference Carolyn McCall Chief Executive 1 06-Dec 09-Dec 12-Dec 15-Dec 18-Dec 21-Dec 24-Dec 27-Dec 30-Dec 02-Jan 05-Jan 08-Jan 11-Jan 14-Jan Challenging environment Jet price up 46% in
More informationThank you for participating in the financial results for fiscal 2014.
Thank you for participating in the financial results for fiscal 2014. ANA HOLDINGS strongly believes that safety is the most important principle of our air transportation business. The expansion of slots
More informationFirst Quarter Results August 31 st, 2006
First Quarter Results 2006-07 August 31 st, 2006 Key features of the First Quarter Market context Sustained global economic growth, and a recovery in Europe Average jet fuel price of 691 $/t, up 25% year-on-year
More informationINVESTOR PRESENTATION. Imperial Capital Global Opportunities Conference September 2015
INVESTOR PRESENTATION Imperial Capital Global Opportunities Conference September 2015 Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private
More information9M 2018 RESULTS BOLOGNA, NOVEMBER 15 TH 2018
9M RESULTS BOLOGNA, NOVEMBER 15 TH 9M GROUP 2 BOLOGNA S AIRPORT MAIN CHARACTERISTICS 9M 8.2 MILLION PAX 76.3% INTERNATIONAL PAX THE HIGHEST CONNECTIVITY GROWTH IN EU 2004-2014 +984% ACI Europe 2014 Airport
More informationFlybe: Delivery and Future Direction
Flybe Delivery and Future Direction Making Flybe Fit to Compete Update 23 May 2013 Agenda Context and Introduction Flybe UK - Making Flybe Fit to Compete Flybe Outsourcing Solutions Recap Conclusions and
More informationSAS Q3 2016/
SAS Q3 2016/2017 05.09.2017 A strong summer performance drives result improvements Q3 IN SUMMARY Positives + Currency adjusted passenger revenue up 6.4% + Passengers up by ~300,000 + Ancillary and cargo
More informationWizz Air aims to increase market share with F17 capacity growth of 20% Q3 passenger growth of 20%, Load Factor of 88% (+2.3ppt)
Q3 F17 FINANCIAL RESULTS 1 FEBRUARY 2017 BUSINESS HIGHLIGHTS Current market conditions favour ULCCs Wizz Air aims to increase market share with F17 capacity growth of 20% Q3 passenger growth of 20%, Load
More informationCAA consultation on its Environmental Programme
CAA consultation on its Environmental Programme Response from the Aviation Environment Federation 15.4.14 The Aviation Environment Federation (AEF) is the principal UK NGO concerned exclusively with the
More informationCebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations. cebupacificair.com
Cebu Air, Inc. 4 th Quarter and Full Year 2017 Results of Operations cebupacificair.com Disclaimer The information provided in this presentation is provided only for your reference. Such information has
More informationSydney Airport delivers another year of strong performance and is well positioned for growth
21 February 2018 Sydney Airport delivers another year of strong performance and is well positioned for growth Growth across all businesses with total revenue increasing 8.7% Record passenger numbers of
More informationAIR CANADA REPORTS 2010 THIRD QUARTER RESULTS; Operating Income improved $259 million or 381 per cent from previous year s quarter
AIR CANADA REPORTS 2010 THIRD QUARTER RESULTS; Operating Income improved $259 million or 381 per cent from previous year s quarter MONTRÉAL, November 4, 2010 Air Canada today reported operating income
More informationFirstGroup plc TransPennine Express
FirstGroup plc TransPennine Express Rail franchise award Wednesday 9 December 2015 TransPennine Express awarded to FirstGroup FirstGroup is delighted to be selected by the Department for Transport (DfT)
More informationParques Reunidos Expands to Australia with the Acquisition of Wet n Wild Sydney July 2018
Parques Reunidos Expands to Australia with the Acquisition of Wet n Wild Sydney July 2018 Disclaimer This document does not constitute or form part of any purchase, sales or exchange offer, nor is it an
More informationJAPAN AIRLINES Co., Ltd. Financial Results 1 st Quarter Mar/2017(FY2016) July 29, 2016
JAPAN AIRLINES Co., Ltd. Financial Results Mar/2017(FY2016) July 29, 2016 Today s Topics P.1 P.2 P.13 From the first quarter of this fiscal year, figures for Revenue Passengers Carried, ASK, RPK and Load
More informationCompany Presentation Flughafen Wien AG
Company Presentation Flughafen Wien AG Results for 2010 March/April 2011 2010 At a glance Total revenue: EBITDA: Net profit : after non-controlling interests Passengers: (European average of +4.2%*) EUR
More information2006 Preliminary Results. 7 March 2007
2006 Preliminary Results 7 March 2007 Anthony Rabin 16 Headline numbers 2005 2006 Revenue 4,938m 5,852m +19% Pre-tax profit* 134m 152m +13% Adjusted eps* 24.1p 27.3p +13% Full-year proposed dividend 8.1p
More informationEASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2010
20 January 2011 easyjet Interim Management Statement Page 1 of 5 20 January 2011 EASYJET INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2010 Highlights: Total revenue up by 7.5% to 654
More informationHeathrow Airport. Airport Charges for 2013/14. Consultation Document
Heathrow Airport Airport Charges for 2013/14 Consultation Document Date: 26 th October 2012 Prepared by: Heathrow Airport Limited [Page Intentionally Blank] Table of Contents EXECUTIVE SUMMARY... 2 CHAPTER
More informationGroup First Half Account Settlement For FY2007
JAL GroupFirst Half Account Settlement For FY2007 Nov 7 th 2007 Japan Airlines JAL 2007 1 Disclaimer Unless specifically dealing with matters of historical fact, the plans, forecasts and strategies described
More informationSAS Q2 2017/2018 TELECONFERENCE
SAS Q2 2017/2018 TELECONFERENCE 30 May 2018 Earnings as expected despite negative currency effect POSITIVES + Total revenue up MSEK 73 vs. LY + Currency adjusted yield up 0.6% vs. LY + EB-point sale revenue
More informationNorwegian Air Shuttle ASA
Norwegian Air Shuttle ASA Q4 2017 Presentation 15 February 2018 Highlights Q4 2017 Added one 737-800 and two 787-9s to operations Financed the first aircraft with a combination of UKEF and JOLCO Agreed
More informationManagement Presentation. May 2013
Management Presentation May 2013 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively
More informationTerms of Reference: Introduction
Terms of Reference: Assessment of airport-airline engagement on the appropriate scope, design and cost of new runway capacity; and Support in analysing technical responses to the Government s draft NPS
More informationIron Ore Update. Ian Ashby President Iron Ore 6 May 2009
Iron Ore Update Ian Ashby President Iron Ore 6 May 2009 Important Notices Reliance on Third Party Information The views expressed here contain information that have been derived from publicly available
More informationFirst Half 2013 Results. 16 mai 2013
First Half 2013 Results 16 mai 2013 26 July 2013 Results Increasing effects of Transform 2015 Highlights of the First Half A difficult global economic environment Transform 2015 plan roll-out on track
More informationInvestor Relations Update January 25, 2018
General Overview Investor Relations Update Accounting Changes On January 1, 2018, the company adopted two new Accounting Standard Updates: (ASUs): ASU 2014-9: Revenue from Contracts with Customers (the
More informationAVINOR Debt investor presentation November 2017
1 AVINOR Debt investor presentation November 2017 Agenda Key credit highlights Aviation in Norway and Avinor mission Ownership and regulatory structure Business areas Strategy Key projects Financial performance
More informationState of the Aviation Industry
State of the Aviation Industry Presentation to the ACI Airport Economics & Finance 10 th 11 th February London, United Kingdom Laurie N. Price Director of Aviation Strategy Mott MacDonald Aviation Current
More informationVirgin Australia Holdings Limited (ASX: VAH) H1 FY18 Results 1
Virgin Australia Holdings Limited (ASX: VAH) H1 FY18 Results 1 Summary of H1 FY18 Group Outcomes 2 Group Underlying Profit Before Tax of $102.5 million up 142.3% Group Statutory Profit After Tax of $4.4
More informationRESULTS RELEASE 20 August GENTING HONG KONG GROUP ANNOUNCES FIRST HALF RESULTS FOR 2015 Highlights
RESULTS RELEASE 20 August 2015 FOR IMMEDIATE RELEASE INTERNATIONAL GENTING HONG KONG GROUP ANNOUNCES FIRST HALF RESULTS FOR 2015 Highlights The commentary below is prepared based on a comparison of the
More informationM.A.G INTERIM REPORT AND ACCOUNTS. magworld.co.uk. Six months ended 30 September 2013
2013-14 M.A.G INTERIM REPORT AND ACCOUNTS Six months ended 30 September 2013 magworld.co.uk 02 Contents CONTENTS OUR BUSINESS 04 FINANCIAL AND BUSINESS HIGHLIGHTS Chief Executive s review 06 Financial
More informationSlots. The benefits of strategic slot management. Richard Matthews Slot strategy & scheduling manager. 8 th March 2013
Slots The benefits of strategic slot management Richard Matthews Slot strategy & scheduling manager 8 th March 2013 1 Strategy to drive growth and returns Leverage easyjet s cost advantage, leading market
More informationInterim results. 11 May 2010
Interim results 11 May 2010 Introduction Andy Harrison Chief Executive Officer Strong performance despite disruption Improvement in revenue, margins and cash Continued network improvement has driven better
More informationManagement Presentation. March 2016
Management Presentation March 2016 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively
More informationAdjusted net income of $115 million versus an adjusted net loss of $7 million in the second quarter of 2012, an improvement of $122 million
Air Canada Reports Record Second Quarter 2013 Results Highest Adjusted Net Income, Operating Income and EBITDAR Results for Second Quarter in Air Canada s History Adjusted net income of $115 million versus
More informationCorporate Presentation 2015/16 Interim Results
Corporate Presentation 2015/16 Interim Results 24 February 2016 0 Disclaimer The information contained in this presentation is intended solely for your personal reference. Such information is subject to
More informationManagement Presentation. September 2011
Management Presentation September 2011 Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively
More informationNorwegian Air Shuttle ASA
Norwegian Air Shuttle ASA Q1 2018 Presentation 26 April 2018 Highlights Q1 2018 Successfully completed private placement of NOK 1.3 billion Added two 737-800s and six 787-9s to operations Launched interline
More information