GTAA REPORTS 2025 ANNUAL RESULTS
Earnings before interest and financing costs, and amortization ("EBITDA") decreased during the three months ended March 31, 2025, by 1.0 per cent to $216.9 million, compared to the same period of 2024. Higher revenues associated with the increase in aeronautical and AIF fees were offset by the increase in operating costs (before amortization), for Q1 2025 reflecting investments in the year to support customer experience and prepare GTAA for medium to long term growth in passenger volumes.
Revenue growth of $18.9 million for the three months ended March 31, 2025, is primarily driven by rate and fee increases, offset by a decline in passenger volumes compared to the same period in 2024.
2 Please refer to Non-GAAP Financial Measures at the end of this document for further details.
"We continue to make steady progress on our growth strategy as we build for the future" added Ms. Flint. "Pearson's economic contribution to the region are substantial, and we remain focused on strengthening our connectivity as a global hub airport."
"Our performance in the first quarter has been marginally affected by the operational events in February as well as the current global economic and political landscape," said Deborah Flint, President and CEO. "These pressures have resulted in a 2% decline in total year over year passenger traffic."
TORONTO, May 6, 2025 /CNW/ - The Greater Toronto Airports Authority ("GTAA") today reported its financial and operating results for the three months ended March 31, 2025. Toronto Pearson, Canada's busiest airport, saw a slight decline in its passenger volumes, which decreased 2.0 per cent to 10.7 million in the first quarter of 2025, compared to the same period in 2024. This was due to a slight softening in both the international and domestic sectors, compared to the same period in 2024. February also saw extreme weather conditions, and a five-day runway closure due to a single aircraft incident.
Story Continues
Net income decreased during the three months ended March 31, 2025 by $4.1 million to $69.5 million, compared to the same period of 2024 due to the increase in total expenses being partially offset by increase in revenues.
Free cash flow increased $13.7 million to $130.8 million driven by higher cash flow from operations partially offset by lower receipt of funds under the Airport Critical Infrastructure Program ("ACIP"). Cash flows from operations are used to fund capital expenditures focused on improving facilities and enabling growth, while maintaining quality customer experience.
The GTAA's March 31, 2025 financial results are analyzed in more detail in the GTAA's Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis, each for the three months ended March 31, 2025, which are available at www.torontopearson.com and on SEDAR at www.sedarplus.ca .
Caution Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. This forward-looking information is based on a variety of assumptions and is subject to risks and uncertainties. These statements reflect GTAA Management's current beliefs and are based on information currently available to GTAA Management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward-looking information will not prove to be accurate, that the GTAA's assumptions may not be correct and that actual results may differ materially from such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in the GTAA's securities regulatory filings, including its most recent Annual Information Form and Management's Discussion and Analysis, which can be found on SEDAR at www.sedarplus.ca.
NON-GAAP FINANCIAL MEASURES
Throughout this news release, there are references to the following performance measures which in Management's view are valuable in assessing the economic performance of the GTAA. While these financial measures are not defined by the International Accounting Standards Board and are referred to as non-GAAP measures which may not have any standardized meaning, they are common benchmarks in the industry, and are used by the GTAA in assessing its operating results, including operating profitability, cash flow and investment program.
EBITDA
EBITDA is earnings from operations before interest and financing costs, reversal or impairment of investment property, write-down of property and equipment, and amortization. EBITDA is a commonly used measure of a company's operating performance. This is used to evaluate the GTAA's performance without having to factor in financing and accounting decisions.
Free Cash Flow
Free Cash Flow ("FCF") is cash flows from operating activities per the consolidated statements of cash flows, and ACIP grants received less capital expenditures (property and equipment, investment property, and other) and interest and financing costs paid, net of interest income (excluding non-cash items). FCF is used to assess funds available for debt reduction or future investments within Toronto Pearson.
About Toronto Pearson
The Greater Toronto Airports Authority is the operator of Toronto Pearson International Airport, Canada's largest airport and a vital connector of people, businesses, and goods.
Toronto Pearson has been named "Best Large Airport in North America serving more than 40 million passengers" seven times in the last eight years by Airports Council International, the global trade representative of the world's airports. Toronto Pearson was also recognized in 2025 as one of "Canada's Best Employers" by Forbes.
For our corporate X channel, please visit @PearsonComms. For operational updates and passenger information, please visit @TorontoPearson/@AeroportPearson on X. You can also follow us on Facebook or Instagram.
SOURCE Greater Toronto Airports Authority
Cision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2025/06/c6897.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
How Wildfires Are Torching The Home Insurance Industry
What happens when the models tell you the world is on fire, and the market listens? In California's most extreme wildfire zones, one in five homes has lost its insurance coverage since 2019 according to a recent wildfire research report. In some ZIP codes, premiums have skyrocketed over 40%. More than 150,000 households are now uninsured—not because they want to be, but because they're uninsurable. And this isn't a future problem. Wildfire season has barely begun, and already over 200 blazes rage across Canada, many completely out of control. This isn't just a climate story. It's a markets story. A systems story. A story of how the first real stress test of climate adaptation is happening—not in the halls of Congress or Parliament, but in your homeowner's insurance renewal letter. Insurers have one job: predict risk, price it, and spread it. And they're good at it—until they're not. When Los Angeles was engulfed in flames in January, insurance companies paid out more than $44 billion in claims. State Farm alone lost $7.6 billion. California's state-subsidized FAIR plan took a $4.8 billion hit. That plan, by the way, is supposed to be the insurer of last resort. It's now the only option left for hundreds of thousands of homeowners—and it's buckling. Insurers saw it coming. Their catastrophe models—backed by more granular data and better forecasting than most public agencies can afford—warned them. They raised premiums, cut policies, and eventually fled entire markets. Since 2018, over 30,000 households in California's high-risk fire zones have had their policies simply not renewed. Many never got a replacement. This isn't a tale of irrational panic. It's a rational response to a mathematically unsustainable situation. You can't underwrite homes in areas where the probability of destruction is not only high—but increasing. You can't make the numbers work when wildfire seasons are longer, fires more intense, and the climate system more volatile. It gets worse. Homeowners who lose private insurance are turning to FAIR plans—state-backed programs originally designed as temporary backstops. In California alone, enrolment has more than doubled since 2020. FAIR plans offer less coverage, higher deductibles, and few protections for personal property. They're expensive, incomplete, and dangerously overstretched. But they're all that's left. And because FAIR plans are funded by assessments on private insurers, every loss they take feeds back into the same system that's already retreating. It's a vicious cycle: more risk, more exits, more burden on the few insurers who remain, which leads to… more exits. Add in one more ingredient: population growth. Incredibly, the number of people moving into high-risk areas is growing faster than those leaving. The share of uninsured households is rising even as more homes are being built in harm's way. The implications for housing markets are profound. Without insurance, homes can't get mortgages. Without mortgages, property values collapse. And when homes burn without coverage—as many will—someone pays. Usually, taxpayers. Governments will step in to purchase destroyed properties or prevent rebuilding in zones now understood as climate sacrifice zones. What we're witnessing is the first collapse of a financial market under the weight of climate risk. Not in theory. In real time. The story in California is now echoing across the continent. FAIR plan enrolments are up 54% in Texas and 39% in Oregon. In the U.S. Southwest, drought has pushed fire risk to ten-year highs across Arizona, New Mexico, and Texas. In Mexico and Canada, spring fire risk is breaking records. Manitoba has already declared a state of emergency as two people have died, with thousands more evacuated. And it's only June. Behind it all is a term climate scientists now use with chilling precision: hydroclimate whiplash. It's a swinging pendulum weather phenomenon of too-much-then-too-little water. Years of heavy rainfall grow dense vegetation. A sudden drought turns that growth into kindling. Add record temperatures, early snowmelt, and wind—and the landscape becomes a fuse waiting for a spark. The data backs it up. Fire Weather Index anomalies across North America show levels of risk unseen in over a decade. More fires will come. More homes will burn. More markets will break. Here's the deeper problem: fires don't just destroy property, they also emit carbon into the atmosphere. In 2023, Canadian wildfires released more carbon than oil & gas, transportation, buildings, or heavy industry. That carbon accelerates climate change. Which raises temperatures. Which increases drought. Which drives more fires. Which, yes, releases more carbon. That's the feedback loop we've entered. And yet, our policies remain reactive, not preventative. Our markets—home insurance, housing, municipal bonds—are starting to price climate risk faster than our politics can respond. We used to think climate change would hit slowly. But wildfire insurance isn't disappearing slowly. It's collapsing now. And it's showing us a hard truth: markets can adapt faster than governments—but not without consequences. When markets exit, people get left behind. What the wildfire crisis reveals is not just the cost of climate change—but the cost of delay. The systems we rely on—insurance, housing, public finance—weren't built for this. And they're beginning to fail. What comes next will depend on whether we treat this collapse as a warning, or as a preview. Disclaimer: I work for Deep Sky, a carbon removals project developer.
Yahoo
an hour ago
- Yahoo
Forager requests Quipt Home Medical terminate standstill agreement
Forager said, 'Forager Capital Management, one of the largest shareholders of Quipt Home Medical (QIPT) Corp., requests that Quipt immediately and unequivocally retract its false and misleading statement made in its press release on May 21, 2025 relating to Forager's offer to acquire 100% of Quipt's issued and outstanding common shares at a price of $3.10 per common share. Forager's priority is value crystallization for shareholders and correcting misinformation-not engaging in a public dispute with Quipt. Quipt's characterization of Forager's May 17, 2025 Letter of Intent as 'unsolicited' is disingenuous. Section 9 of the Non-Disclosure and Standstill Agreement entered on February 1, 2025 states that Forager is permitted to make an offer with advance written notice from the Quipt Board of Directors. Forager received an email from the Chairman of the Board of Directors on May 15, 2025 inviting Forager to access additional data so it could make its best offer. Forager determined it had sufficient data to formulate its offer and interpreted the Chairman's email as a good-faith invitation to engage and responded accordingly. Moreover, Forager gave the Board prompt notice pursuant to Section 6 of the Agreement to which Forager never received any objection. Quipt is using Section 9 of the Agreement to paint Forager as a bad actor and to suggest to shareholders that Forager is prohibited from making an offer, while simultaneously using Section 1 to prevent Forager from disclosing relevant, material facts to those same shareholders. Shareholders deserve the opportunity to receive and evaluate all offers that increase shareholder value. Forager requests that Quipt terminate the Agreement. This request is costless and overwhelmingly in the best interest of shareholders.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on QIPT: Disclaimer & DisclosureReport an Issue Quipt Home Medical Receives Acquisition Proposal from Forager Quipt Home Medical confirms receipt of unsolicited acquisition proposal Quipt Home Medical: Hold Rating Amid Growth Challenges and Sector Headwinds Quipt Home Medical Corp's Mixed Earnings Call Analysis Quipt Home Medical price target lowered to $4 from $6 at Benchmark Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
an hour ago
- Associated Press
Aether and City of Burnaby Extend USMEAP for 2025
Burnaby, British Columbia--(Newsfile Corp. - June 5, 2025) - Aether Catalyst Solutions, Inc. (CSE: ATHR) (FSE: 2QZ) ('ATHR' or the 'Company') is pleased to announce the extension of the Urban Small Motors Emissions Abatement Project (USMEAP) with the City of Burnaby for year five. The fourth season of field testing with the City of Burnaby wrapped up with NOx conversion remaining 100% on all units. Usage for several of the mowers was particularly high this season giving us added insights into durability. For year four, the program continued with the same six units equipped with Aether catalysts, highlights of year four of the USMEAP are as follows: Technical Highlights Program Highlights Taylor Procyk, Chief Operating Officer of Aether comments, 'The data generated by this project is crucial as Aether begins to commercialize our catalysts for Small Motors. It gives us a touchstone in discussions with industry manufacturers and supports our technical team as we evaluate configurations and approach Third Party Validation of our technology.' ABOUT THE CITY OF BURNABY: The City of Burnaby is a vibrant city at the geographic centre of Metro Vancouver. It has an amazing natural environment, a strong cultural mosaic and thriving town centres. To meet the aggressive carbon reduction targets established by Burnaby City Council, a framework called This is Climate Action has been developed to guide how the City will put into action its commitment to be 'carbon neutral' (no longer contributing to the carbon emissions that accelerate climate change) by 2050. ABOUT THE COMPANY: Aether Catalyst Solutions, Inc. is focused on providing an order of magnitude cost reduction in automotive catalytic converter catalyst, while meeting, or exceeding government emission standards. Aether is working to quickly advance its technology through rapid screening of new materials directed at enhancing end of life conversion levels after accelerated aging. While Aether's primary focus has been automotive applications, the company is also developing catalysts to address small motors emissions - a significant contributor to urban air pollution. FOR FURTHER INFORMATION PLEASE CONTACT: Aether Catalyst Solutions, Inc. Paul Woodward President Tel: 604 690-3797 The Canadian Securities Exchange ('CSE') or any other securities regulatory authority has not reviewed and does not accept responsibility for the adequacy or accuracy of this management prepared news release. Forward-Looking InformationTo view the source version of this press release, please visit
