TIDM79IU
RNS Number : 5110C
Gatwick Funding Limited
18 June 2019
Gatwick Funding Limited
18 June 2019
Issuer: Gatwick Funding Limited
Date: 18 June 2019
Gatwick Funding Limited (the "Issuer")
a company incorporated in Jersey (registered number 107376)
Results publication - Gatwick Funding Limited and Gatwick
Airport Limited
The Issuer today publishes its Directors' Report and financial
statements for the year ended 31 March 2019.
The Issuer's parent, Gatwick Airport Limited ("Gatwick"), today
publishes its Annual Report and financial statements for the year
ended 31 March 2019.
Gatwick Airport Limited's parent, Ivy Holdco Limited, today
publishes its Annual Report and financial statements for the year
ended 31 March 2019.
The Directors' Report and financial statements for Gatwick
Funding Limited, Annual Report and financial statements for Gatwick
Airport Limited and Ivy Holdco Limited are available on Gatwick's
website at www.gatwickairport.com/investor
Gatwick Airport Annual Results: Successful year of growing
global connections and passenger numbers
London Gatwick financial results for the year ending 31(st)
March 2019
-- Gatwick grows to 46.4m passengers, including an extra 1.1m long-haul passengers
-- New routes, increased frequencies and retail development
drives EBITDA +7.3% while income per passenger grows +4.5% to
GBP17.47
-- Growth balanced by a 7% reduction in the airport's noise footprint
Significant long-haul growth, an increased economic
contribution, more passengers and reduced noise are at the heart of
a successful year for Gatwick as the UK's second largest airport
today announced its financial results for the year ending 31(st)
March 2019.
Gatwick's results point to continued growth and positive
developments across a number of key areas including:
46.4 million passengers and 14.3% long-haul growth
- An additional 1.1 million long-haul passengers travelled
through Gatwick over the last financial year, driving passengers to
46.4 million annually.
- The airport's long-haul growth has been driven by Gatwick's
growing Far East connections which grew 45% compared to last
year.
- Around 1 in 5 airport passengers now travel long-haul to and
from Gatwick as the airport's global connections continue to grow.
China Eastern airlines started flying to Shanghai in December 2018
and Norwegian commenced a new Rio service in March 2019.
Strong financial growth and record levels of capital
investment
- Revenue increased 6.1% to GBP810.8 million. Combined with
careful cost management, this resulted in EBITDA up 7.3% to
GBP441.4 million and a profit after tax +2.9% of GBP208.1
million.
- Income per passenger for the year increased by GBP0.75 (+4.5%) to GBP17.47.
- GBP249.3m of capital investment in the year was spent on
improving passenger facilities and operational performance as
Gatwick continues to enhance its global position. This forms part
of a five-year GBP1.1bn programme to 2023, which will include an
extension to Pier 6 to provide additional aircraft stands to meet
forecast growth, and work on a new mezzanine level in the North
Terminal to accommodate growing passenger demand.
Trade growth with a 11.4% boost to cargo
- Gatwick's growing long-haul networks, which offer increased
aircraft belly-hold capacity, helped Gatwick's cargo tonnage
increase by 11.4% compared to 2018.
- This increasing cargo capacity is providing greater trade
opportunities for businesses exporting through Gatwick.
- Annually GBP7.5 billion in goods trade through Gatwick, with
local businesses 50% more likely to export than the UK
average*.
Sustainable growth matched with a 7% reduction in noise
footprint
- Gatwick's continued growth has been balanced with a reduction
in the number of local residents within the airport's noise
footprint.
- Improved operational procedures and the introduction of new,
quieter aircraft led to a 7% reduction in the size of Gatwick's
noise footprint (54dBA Leq) in 2018 compared to the previous year,
according to Civil Aviation Authority findings**.
- In June 2018, Gatwick became the first airport to secure 'Zero
Waste to Landfill' accreditation from the Carbon Trust and was
recertified as a carbon neutral airport.
Gatwick Airport, Chief Executive Officer, Stewart Wingate
said:
"Today's results underline our ambition to be a thriving global
airport which continues to invest in our passengers and local
communities, while strongly supporting UK plc.
"Over the last year, we have achieved strong passenger growth
matched by a reduction in our local noise footprint; robust
financial results matched by record levels of investment back into
the airport; and growing global connections fuelling increased
trade and tourism opportunities.
"These strong results give us a firm foundation for future
sustainable growth and later this year we look forward to
publishing our final master plan which will help set the long-term
growth and development plan for Gatwick."
In May 2019 London Gatwick announced a new chapter in its
ownership as VINCI Airports completed the purchase of a 50.01%
stake in the airport. Global Infrastructure Partners (GIP) will
continue to manage the remaining 49.99% interest in Gatwick.
For further information please contact
Media enquiries Laura Tattam 07791 621255
Investor enquiries Jeeten Patel 07971 343609
Visit www.gatwickairport.com/investor to download a copy of our
Annual Report and financial statements for the year ended 31 March
2019 and our 31 March 2019 results presentation.
About Gatwick Airport
Gatwick Airport is the UK's second largest airport. It serves
more than 230 destinations in 74 countries for 46 million
passengers a year on short and long-haul point-to-point services.
Gatwick is also a major economic driver and generates around 85,000
jobs nationally, with 24,000 of these located on the airport. The
airport is south of Central London with excellent public transport
links, including the Gatwick Express, and is part of the Oyster
contactless payment network.
Gatwick's 2018 draft master plan sets out proposals for the
airport's ongoing development and sustainable growth. It also
outlines the airport's latest thinking on how it can meet the
increasing demand for air travel and provide Britain with enhanced
global connectivity. A 12-week public consultation closed on 10
January 2019, and a consultation response summary and final master
plan will be published later in 2019.
END
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END
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