Milestone year for London Heathrow – financial results and passenger figures

  • Heathrow delivered even better value to a record 75.7 million passengers (+1.0%) in 2016. Passenger charges fell by 1.0% and Heathrow retained its position as Europe’s best hub for the third year running
  • Strong financial performance underpins expansion plans with revenue of £2,807 million (+1.5%) and Adjusted EBITDA of £1,682 million (+4.8%) reflecting continued cost control and strong retail income growth
  • Heathrow continues to deliver for the UK with a 3.0% increase in cargo volumes promoting British trade growth, support for British jobs with a £674 million investment in the airport and new services to Jakarta, San Jose, Santiago and Inverness
  • Heathrow expansion moved into the delivery phase as the Government announced its support for a third runway and launched a 4-month public consultation on a National Policy Statement
  • A more resilient UK economy boosted passenger volumes at the end of 2016, with the trend continuing into the early weeks of 2017

John Holland-Kaye, Chief Executive Officer of Heathrow, said:

“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.”


At or for year ended 31 December 2016  2015 Change (%)
(£m unless otherwise stated)      
Revenue 2,807 2,765 1.5
Adjusted EBITDA(1) 1,682 1,605 4.8
Cash generated from operations 1,652 1,592 3.8
Cash flow after investment and interest(2) 387 361 7.2
Pre-tax profit(3) 267 223 19.7
Heathrow (SP) Limited consolidated net debt(4) 11,908 11,745 1.4
Heathrow Finance plc consolidated net debt(4) 13,005 12,670 2.6
Regulatory Asset Base 15,237 14,921 2.1
Passengers (m)(5) 75.7 75.0 1.0
Retail revenue per passenger (£)(5) 8.09 7.58 6.7

Notes 1-5: see page 2

The full release is available for download :


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.