BAA profits up 16.8%
18.12.09
BAA announced nine month profit up 16.8 percent today, and said that it expects 2010 earnings to be £956 million. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) was £804.6 million for the nine months to the end of September on turnover 7.6 percent higher at £1.84 billion.
The airports operator forecast it would make £2.08 billion of revenue and EBITDA of £956 million in 2010, excluding Gatwick airport, which it sold to Global Infrastructure Partners earlier this month.
It expects to make £2.4 billion of revenue in 2009 and adjusted EBITDA of £1.02 billion. Excluding Gatwick, it expects 2009 revenue of £1.96 billion and EBITDA of £863 million. It sees its net debt rising to £9.1 billion in 2010 from roughly £8.6 billion at the end of this year.
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