Ferrovial Plans to Grow its Vertiport Business While Expanding Its Airport Portfolio Beyond the UK

Justin Lee

Singapore

July 23, 2022

1024px Heathrow Airport 014

In its Integrated Annual Report for the year 2021, Ferrovial presented its financial and operating results for the four UK airports it currently manages – Heathrow , Aberdeen, Southampton and Glasgow.

Source: Ferrovial 2021 Integrated Annual Report

At London Heathrow Airport, passenger traffic for the year 2021 was at 19.4 million, a 12.3% decline compared to that generated in the previous year 2020. With most of London Heathrow Airport’s flights being international – even more so with the exit of the UK from the European Union – the airport had been one of the most vulnerable to the impact of the Omnicron variant in Q4 2021, which had resulted in the tightening of international travel restrictions and also set back the recovery that London Heathrow had experienced from the summer of 2021.

Source: Ferrovial 2021 Integrated Annual Report

At the other three UK airports operated by Ferrovial under AGS Airports – Glasgow, Aberdeen and Southampton – total passenger traffic for the year 2021 at 3.5 million was 6.2% higher than that  for the year 2020, where the three airports handled 3.3 million passengers. Year-on-year increases in passenger traffic of 6.6% and 10.5% respectively for Glasgow and Aberdeen Airports offset the 11.2% decline in passenger traffic at Southampton Airport.

Source: Ferrovial 2021 Results Presentation

Despite the decrease in passenger traffic at Heathrow Airport, Heathrow Airport still managed a slight increase in turnover of 3.3% in 2021 to GBP1.2bn, while EBITDA saw a 42.0% increase (like-for-like) to GBP357mn. However, net income and earnings before tax (EBT) saw declines by 18.0% and 22.7% respectively compared to the previous year.

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