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Heathrow SP Ltd on Friday said it upped its earnings forecast for 2022 as demand is recovering to pre-Covid levels.
Heathrow SP owns Heathrow Airport through its indirect subsidiary, Heathrow Airport Ltd. The company said it forecasts adjusted earning before interest, tax, depreciation, and amortisation to be £1.67 billion, up from its forecast of £1.40 billion in June.
Heathrow said this reflects higher revenue as demand has recovered. This is up from an adjusted Ebitda of £384 million in 2021, and compares to £1.92 billion in 2019.
For 2022, Heathrow expects traffic to be 61.4 million. This is over 75% of 2019 levels, which recorded 80.9 million passengers travelling through the airport in the year.
The forecast is at the upper end of the 60 million to 62 million guidance the company published in its third quarter results for the three months that ended September 30. In June, Heathrow said it expected 54.4 million passengers over the year.
Looking ahead, Heathrow expects adjusted Ebitda to increase by 4% to £1.75 million in 2023, and 67.2 million passengers are predicted for the year, which it said represents recovery to 83% of 2019 levels.
By Jaskeet Briah, Alliance News reporter
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