The company recovers pre-pandemic Ebitda a year ahead of schedule
Aena recorded a record net profit of 1,630.8 million euros in 2023, 80.9% higher than in 2022, after recording financial extraordinary events, including deposit remuneration in Brazil (36.3 million euros) and exchange rate differences (11.2 million euros).
As highlighted by the company, the profit for 2023 is 13.1% higher than that of 2019, before the outbreak of the pandemic, when it reached 1,442 million euros.
In 2023, Aena obtained a gross operating result (Ebitda) of 3,022.6 million euros, 45.4% more than in 2022 and 9.3% higher than in 2019. In this way, the company recovers its pre-pandemic Ebitda one year ahead of schedule in its 2022-2026 Strategic Plan. Excluding the reversal of the impairment of the Northeast Brazil Airport Group, the EBITDA margin would be 55.8%.
Aena's total revenues increased by 21.3% last year, to 5,141.8 million euros, with an increase of 18.5% in its aeronautical revenues, to 2,858 million euros. For its part, commercial income amounted to 1,552 million euros, 25.2% more than in 2022.
Total sales from commercial activities exceeded 2019 levels by 17.3% and income from fixed and variable rents invoiced and collected in the period increased by 21.8%.
As a result of the 80% pay-out policy, Aena will propose to the ordinary general meeting of shareholders, to be held on April 18, the distribution of a dividend of 7.66 gross euros per share charged to the results for the 2023 financial year, a figure 61.2% higher than that paid in 2022 (4.75 euros gross per title).
This dividend improvement will benefit both its private and public shareholders, since the Government owns 51% of the company.
The group's consolidated accounting net financial debt stood at 6,222 million euros, compared to 6,242.9 in 2022, reducing the ratio of net financial debt to Ebitda of the consolidated group to 2.06 times, compared to 3 times as of 31 December 2022.
There has been strong cash generation. Net cash generated by operating activities reached 2,219.8 million euros compared to 1,863.2 million in 2022.
The OPEX of the airport group, which includes expenses for supplies, personnel and other operating expenses, amounted to 2,218.3 million euros in 2023, compared to 2,090.7 million in 2022. The evolution of these expenses reflects the greater activity and the operations of the group's terminals and open airport spaces.
Regarding other operating expenses, the reduction in electricity expenditure in Spain stands out, which was 121.2 million euros (45.2% less than in 2022). Excluding the impact of energy, the year-on-year increase in other operating expenses in the Spanish airport network was 140.3 million euros, 16% more than in 2022 in a context of greater airport activity.
OVERCOME PRE-PANDEMIC TRAFFIC.
The Aena group's passenger traffic (Spain, London-Luton and the airports in Northeast Brazil) grew in 2023 to 314.1 million, 16% more than in 2022 and the equivalent of 102.3% of 2019 traffic In Spain's airports, the increase reaches 16.2%, up to 283.2 million passengers, and is equivalent to 102.9% in 2019.
In the international arena, Aena, through its subsidiary Aena Desarrollo Internacional, took charge between October and November 2023 of the effective management of the operations of the 11 airports of the new BOAB group (Block of Eleven Brazilian Airports).
Aena became the winner of BOAB in a public auction held in August 2022. The group's 11 airports are located in four states (São Paulo, Mato Grosso do Sul, Minas Gerais and Pará) and the concession has a term of 30 years , with the possibility of five additional years.
This concession of 11 airports is the largest international operation in the history of Aena, which, with the Aena Brasil brand, has managed six other airports in the Northeast of the country since 2020. In this way, Aena manages 20% of the country's traffic.
