Teesside-2

[No-More-Bullschit]

Harold, makes my sick to say it but your first paragraph is right on the money. After that mind you go back to the drivel you are known for. If I was looking for investors and they got cold feet because of things they read on social media, I wouldn't want their business and would seek a higher standard of investor

[Harold77]

2022-23 Financials

Over £15m in Revenues. Highest recorded in airports history.
Loss £2.26m

https://www.gazettelive.co.uk/news/t...aging-28215160

[P330]

Better looking results. Ahead of plan too…

Here is the Northern Echo piece.

https://www.thenorthernecho.co.uk/ne...pened-5-years/

No new information here.

[P330]

Malaga ‘when not if’

Malaga is ‘when not if’ and Tenerife up there too. Long haul also gets a mention.

https://www.thenorthernecho.co.uk/ne...malaga-flight/

[N707ZS]

I cannot remember Costa Rica. We definitely had Dominican Republic. So nothing new then.

[highwideandugly]

Facebook in overdrive!

Great results though and just shows what can be achieved if you throw everything available at a project !

Only doubt in my mind..is how so much profit has been made on a monthly basis during the last year?
We are always generally told that real airport revenue comes from ..passengers,duty free,outlets car parks etc?.

so is the spa that vibrant?🤔😀

[globetrotter79]

Originally Posted by P330

Malaga is ‘when not if’ and Tenerife up there too. Long haul also gets a mention.

https://www.thenorthernecho.co.uk/ne...malaga-flight/

Am enjoying the repeat of Houchen's oft-aired phrase "foreign investors don't arrive by bus"..
...the thing is they don't tend to arrive from the Spanish Costas by Ryanair either, do they?!

[SWBKCB]

Originally Posted by globetrotter79

Am enjoying the repeat of Houchen's oft-aired phrase "foreign investors don't arrive by bus"..
...the thing is they don't tend to arrive from the Spanish Costas by Ryanair either, do they?!

Yes - nice to see the return of an old friend!

Bet KLM have cut out the article for use in the next contract negotiations.

[N707ZS]

Presume thats the excitement over for this year. Don't forget next year is election year. Perhaps they are keeping the new routes until then.

[onion]

Am I missing something here?
They announce (and I know its not on Companies House yet) a smaller than projected loss, remember the 10 year turn around expected losses, and as usual people are slamming the place!
Come on what actually gives here? This is good news, it shows they are ahead of where they want to be, admittedly probably slightly down pax wise but defintley ahead of the game profit/loss wise which points to other areas taking the slack.
So why the negativity? Or is it some people have vendettas against the airport, Houchen or both?
If you can't give credit where it is due you shouldn't be throwing stones!

[Gsm1]

Same old story, Same people with nothing positive to say. Things are moving in the right direction. ⬆️

[jorvik]

Think is boils down to the fact that it’s blatant “Quick Look over here” style posts and media output which most people see through. Most who criticise the airport on this forum have been around long enough to see through it, but it captures some folk in the headlights and they lap it up. It’s clear it’s a political football, and the sad side of it all is that the foundations are built on sand. It’s not hard to see the airport isn’t going to go anywhere fast, the lack of routes, and contraction of some, BOJ for example is testament to that. All harps back to the mayor’s favourite man, BoJo, he was the king of the “dead cat”, Quick Look at this, don’t focus on that.

[SWBKCB]

I don't see anybody slamming the place, a bit of fun being poked at the motor mouth mayor who in one breadth says that the investors don't arrive on a bus and then says the route he really wants in Malaga

For the record, I've said on a number of occasions that the strategic direction is correct, diversify the business with non passenger activities such as Draken, Willis and the Business Park and the non-aviation businesses in the terminal, but goodness me this "I've saved the world single handed" shtick gets a bit tiresome - bordering on dishonest - and there have been expensive tactical mistakes along the way.

[Grumpy1]

Anybody understand how the EBITDA reduction actually impacts on the actual trading losses. A curious way of reporting trading results as it has been suggested that accounts have been released but they are not at Companies House so where can we find them please?

[onion]

Originally Posted by Grumpy1

Anybody understand how the EBITDA reduction actually impacts on the actual trading losses. A curious way of reporting trading results as it has been suggested that accounts have been released but they are not at Companies House so where can we find them please?

It can lower the shown losses.
Depreciation may not be accounted for for instance, so in simple terms your asset look more valuable than it is!

It is however a legitimate yardstick that companies use.
The full accounts won't be public until they are put onto companies house.

[highwideandugly]

I still wonder how £15 million in revenues were achieved on the limited passenger/cargo/terminal throughput ?

On another thread someone thinks it’s creative accounting? Advance rents,contracts,promises etc?

[onion]

Originally Posted by highwideandugly

I still wonder how £15 million in revenues were achieved on the limited passenger/cargo/terminal throughput ?

On another thread someone thinks it’s creative accounting? Advance rents,contracts,promises etc?

I'm sure advanced rent contracts and promises can't be shown until the year they are paid.
Sure one of the supermarkets fell foul of that a few years back where they included future payments to them in a set of accounts.

[tigertanaka]

Originally Posted by highwideandugly

I still wonder how £15 million in revenues were achieved on the limited passenger/cargo/terminal throughput ?

On another thread someone thinks it’s creative accounting? Advance rents,contracts,promises etc?

• Look at pre-covid - £7.6m revenues on 138k pax - so £55 per passenger
• Last year had 193k pax - £15m is about £78 a head - an increase of 43% in 3 years, this feels like a big increase but not a ridiculous amount.

Of course not all the revenue is related to passengers but it is one of the key drivers. One would also imagine that Draken would be paying more than in the past and that fuel sales (which were £1.8m 5 years ago) would have been heavily helped by inflation.

Doubt we would get more info in the published accounts but there are strict rules about what companies are allowed to declare as turnover and there is added scrutiny as the airport has a public body as it's majority shareholder.

[Harold77]

Originally Posted by highwideandugly

I still wonder how £15 million in revenues were achieved on the limited passenger/cargo/terminal throughput ?

This is where the need to look over the previous years results.

Year / Revenues / Passengers / Movements
2019-20: £7,745,305 / 139,448 / 16,389
2020-21: £4,812,505 / 14,521 / 11,118
2021-22: £7.686,643 / 83,921 / 20,130
2022-23 £15m plus / 192,283 / 21,360

Take a look at the drop during the first covid year and the second when things were slowly opening up. The second year Revenue is near enough the same as pre covid year, but reduced numbers and nearly 4k extra movements than pre covid.
This is quite telling on how the business has increased in other areas.
So new Draken Hangar rents with extra aircraft, aircraft storage/ parking, aircraft handling, movements, more larger aircraft being handled, cargo, fuel sales increase. Then the increase in terminal facilities so more spending by passengers in the bars/ restaurants, unit rentals, car parking, office block built and occupied by TVCA, other rentals/ ground rents from other users.


Serco International Fire Training Centre
Willis Asset Management
Willis Jet Centre
Draken Europe
AeroSchool
Eden Flight Training
FedEx Express
IAS Medical
Thales Flight Inspection
Ramsdens
Linthorpe at the Airport Pharmacy/ Shop
Fairs Lloyds Travel
Bannantyne Spa
World Duty Free
House of Zana & Rejoy
The Landside Cafe
The Transporter
The Goosepool
Tees Valley Combined Authority Offices
Thai Terminal
1 Goosepool Hotel
Caravan/ Motorhome storage

Plus couple others I can't think off top of my head.


So when you add them all up then you can see where the Revenues have been come from especially with upturn in passenger numbers adding to the figures.

So definitely don't think advance payments could be attributed to the increase.

[pug]

Originally Posted by tigertanaka

• Look at pre-covid - £7.6m revenues on 138k pax - so £55 per passenger
• Last year had 193k pax - £15m is about £78 a head - an increase of 43% in 3 years, this feels like a big increase but not a ridiculous amount.

Of course not all the revenue is related to passengers but it is one of the key drivers. One would also imagine that Draken would be paying more than in the past and that fuel sales (which were £1.8m 5 years ago) would have been heavily helped by inflation.

Doubt we would get more info in the published accounts but there are strict rules about what companies are allowed to declare as turnover and there is added scrutiny as the airport has a public body as it's majority shareholder.

Is there though? I won’t pretend to know the ins and outs of what they are obliged to declare, but it does seem a bit dodgy that when Esken left their shares in the airport were handed to a ‘charitable trust’ that neither provides grants or accepts donations… Does this make the whole thing less susceptible to detailed scrutiny?