Gatwick Airport Limited – Report for the six months ended 30 September 2012

Gatwick Airport delivers a robust financial performance, driven by passenger growth and operational excellence despite the economic headwinds

(Gatwick Airport Limited (“the Company”) is the owner and operator of Gatwick Airport (“Gatwick”))

2012-11-28 — / — 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 September2012 Six months ended 30 September2011 Change
Passengers (in millions) 19.9 19.7 1.2%
Turnover 325.8 314.5 3.6%
EBITDA1 172.0 164.1 4.8%
Capital expenditure 119.1 134.1 -11.2%
Regulatory Asset Base2 2,297.2 2,119.5 8.4%
Net debt2 1,318.2 1,194.7 10.3%

1. Earnings before interest, tax, depreciation and amortisation

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.”

Notes to Editors

For further information, please contact:

Media enquiries Sarah Baranowski 07850 924178
Investor enquiries Jeff Naested 07786 197913

Further information

Visit to download a copy of our Directors’ Report and Unaudited Interim Financial Statements for the 6 months to 30 September 2012


For more information contact:

Gatwick Airport press office

t: + 44 (0) 1293 505000


About Gatwick Airport

Gatwick Airport is the UK’s second largest airport and the busiest single-runway airport in the world. It serves around 200 destinations in 90 countries for around 34 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 23,000 on-airport jobs and a further 13,000 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.

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