GATWICK AIRPORT FINANCE PLC
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Cash
£247M
Latest balance sheet
Net assets
-£1.5B
lowest in 3 filed years
Employees
2,779
Average over period
Profit before tax
£338M
Period ending 2025-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-06-30 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £1,130,300,000 | — | £1,132,100,000 | — | |
| Operating profit | £522,000,000 | -£100,000 | £521,300,000 | — | |
| Profit before tax | £414,700,000 | £305,300,000 | £337,800,000 | — | |
| Net profit | £305,700,000 | £305,300,000 | £249,600,000 | — | |
| Cash | £408,000,000 | £19,800,000 | £246,800,000 | — | |
| Total assets less current liabilities | £3,684,000,000 | £1,071,500,000 | £2,918,600,000 | — | |
| Net assets | -£939,900,000 | £622,100,000 | -£1,454,900,000 | — | |
| Equity | -£939,900,000 | £622,100,000 | -£1,454,900,000 | — | |
| Average employees | 2,681 | — | 2,779 | — | |
| Wages | £154,400,000 | — | £167,800,000 | — | |
| Directors' remuneration | £200,000 | — | £200,000 | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 12 months versus 6 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-06-30 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 46.2% | — | 46.0% | |
| Net margin | 27.0% | — | 22.0% | |
| Return on capital employed | 14.2% | -0.0% | 17.9% | |
| Gearing (liabilities / total assets) | 123.3% | 42.2% | 135.3% | |
| Current ratio | 1.49x | 3.79x | 0.44x | |
| Interest cover | 3.01x | -0.01x | 2.32x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- GATWICK AIRPORT FINANCE PLC 2021-03-17 → present
- GATWICK AIRPORT FINANCE LIMITED 2021-03-17 → 2021-03-17
- IVY MIDCO LIMITED 2009-05-01 → 2021-03-17
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“We concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate and that there are no material uncertainties that have been disclosed which we consider to be significant doubt over the Company's ability to continue as a going concern ('the going concern period').”
Group structure
- GATWICK AIRPORT FINANCE PLC · parent
- Ivy Super Holdco Limited 100%
- Ivy Holdco Limited 100%
- Gatwick Airport Limited 100%
- Ivy Bidco Limited 100%
- Gatwick Airport Pension Trustees Limited 100%
- Ivy Property Holdings Limited 100%
Significant events
- “After the reporting date, the Group issued a £300.0m bond in February 2026 with scheduled and legal maturities of 2036 and 2038 respectively. This is a non-adjusting event after the reporting period. No adjustment has been made to the financial statements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
13 active · 19 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| TMF CORPORATE ADMINISTRATION SERVICES LIMITED | Corporate Secretary | 2021-03-17 | — | — |
| CHADWICK, Lucy | Director | 2022-06-29 | Feb 1967 | British |
| FOREST, Benoit Andre | Director | 2025-09-01 | Jun 1984 | French |
| HAVARD, Jerome Mickael Christophe | Director | 2025-09-01 | Jun 1983 | French |
| HIGGINS, David Hartmann, Sir | Director | 2023-11-01 | Nov 1954 | British |
| MATHIEU, Olivier Patrick Jacques | Director | 2019-06-27 | Apr 1973 | French |
| MAUMON DE LONGEVIALLE, Remi Guy Ferdinand | Director | 2019-06-27 | Jun 1984 | French |
| MCGHEE, Michael John | Director | 2009-05-07 | Jun 1956 | British |
| MCMILLAN, David | Director | 2019-06-27 | Sep 1954 | British |
| NOTEBAERT, Nicolas Dominique | Director | 2019-06-27 | Jan 1970 | French |
| SODERBOM, Per Marten | Director | 2019-06-27 | Aug 1975 | Swedish |
| VASCONCELOS DE OLIVEIRA FERNANDES LEITE, Alvaro Alexandre | Director | 2025-09-01 | Feb 1980 | Portuguese |
| WINGATE, Stewart | Director | 2025-09-01 | Oct 1971 | British |
Show 19 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MAWLAW SECRETARIES LIMITED | Corporate Secretary | 2010-02-10 | 2010-12-31 |
| TMF CORPORATE ADMINISTRATION SERVICES LIMITED | Corporate Secretary | 2010-12-31 | 2021-03-17 |
| TRUSEC LIMITED | Corporate Nominee Secretary | 2009-05-01 | 2009-05-07 |
| COLLINSON, Richard Hugh | Director | 2009-05-01 | 2009-05-07 |
| DELOBEL, Eric Marc Jacques | Director | 2020-08-26 | 2023-11-01 |
| DUBOIS, Guillaume | Director | 2023-11-01 | 2025-09-01 |
| GILLESPIE SMITH, Andrew Harvey | Director | 2009-11-27 | 2019-06-27 |
| HIME, James Archie | Director | 2013-01-30 | 2013-09-16 |
| ILEY, Philip Marc | Director | 2019-11-20 | 2022-06-29 |
| KOSKI, Christopher Robert | Director | 2009-11-27 | 2012-10-29 |
| MCCARTHY, John Benedict | Director | 2013-09-25 | 2013-09-25 |
| MCCARTHY, John Benedict | Director | 2013-09-25 | 2019-04-30 |
| MONIR, Nicole Frances | Director | 2009-05-01 | 2009-05-01 |
| MOURAD, Karim | Director | 2019-04-30 | 2019-11-20 |
| MOURAD, Karim | Director | 2009-11-27 | 2012-10-29 |
| SCHMIT, Pierre-Hugues Paul, Louis | Director | 2019-06-27 | 2025-09-01 |
| TROCHU, Benoit | Director | 2019-06-27 | 2019-09-24 |
| WOODBURN, William Alan | Director | 2009-05-07 | 2023-11-01 |
| TRUSEC LIMITED | Corporate Nominee Director | 2009-05-01 | 2009-05-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ivy Super Topco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-12-09 | Active |
Filing timeline
Last 20 of 151 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-16 | AA | accounts | Accounts with accounts type group | |
| 2026-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-18 | AA | accounts | Accounts with accounts type interim | |
| 2025-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-25 | CH01 | officers | Change person director company with change date | |
| 2025-04-25 | AA | accounts | Accounts with accounts type group | |
| 2025-03-26 | AA | accounts | Accounts with accounts type interim | |
| 2024-05-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-17 | AA | accounts | Accounts with accounts type group | |
| 2024-04-17 | CH01 | officers | Change person director company with change date | |
| 2024-04-03 | CH01 | officers | Change person director company with change date | |
| 2024-04-02 | CH01 | officers | Change person director company with change date | |
| 2024-04-02 | CH01 | officers | Change person director company with change date | |
| 2024-04-02 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.