Estimates to end 2023 with around 280 million passengers in Spain, a recovery of 102% of 2019 traffic

The airport manager Aena registered a net profit of 1,139 million euros in the first nine months of the year (with financial extraordinary items), which is 71.3% more than what was registered in the same period of 2022 (664.7 million euros ), and a figure similar to that registered in 2019 (1,114.2 million euros), as reported by the company to the National Securities Market Commission (CNMV) this Thursday.

Total consolidated revenues increased by 19.9% ​​compared to 2022, to 3,779.1 million euros and total sales from commercial activities already exceed pre-pandemic levels by 15.6%.

Between January and September of this year, the company obtained a gross operating result (Ebitda) of 2,113.6 million euros, with a margin of 55.9%. This figure represents a growth of 38.8% compared to the same period in 2022 (1,522.2 million), although it remains slightly lower than that of 2019 (2,136.7 million).

When 2023 ends, Aena estimates to achieve a consolidated Ebitda of more than 2,700 million euros with an Ebitda margin of more than 56%.

Aena Group traffic (Spain, London-Luton and the airports in Northeast Brazil) grows by 17.4% until September compared to the first nine months of 2022, up to 240 million passengers, which implies a 100% recovery .8% of pre-pandemic traffic.

At Aena airports in Spain, traffic in the first nine months of the year has reached 216.6 million passengers, which represents an increase of 17.6% compared to the same period last year and is equivalent to 101. 3% of traffic between January and September 2019.

Based on these results, Aena estimates to close 2023 with around 280 million passengers in Spain, which will be equivalent to a recovery of 102% of 2019 traffic, within the range expected for 2023 (94%-104% of 2019 traffic ).

COMMERCIAL ACTIVITY EXCEEDS THAT OF 2019, WITH AN INCREASE OF 24%.

Total consolidated revenue between January and September 2023 increased to 3,779.1 million euros, which represents an increase of 19.9% ​​compared to the same period of the previous year.

Aeronautical revenues were 2,114 million euros, 16.2% more than in 2022. For its part, commercial income, with sales from commercial activities exceeding 2019 levels, reached 1,134.6 million euros, an increase of 23.7% compared to the same period in 2022.

Thus, total sales from commercial activities exceeded 2019 levels by 15.6%, and income from fixed and variable rents billed and collected in the period exceeded 2019 figures by 21.4%.

"The regulated business, however, has been partially slowed down by the fact that airport rates have not recovered the sharp increases in costs of providing airport services from 2022," explains the manager.

The group's consolidated accounting net financial debt stood at 6,364.8 million euros, compared to 6,242.9 million euros in 2022, reducing the ratio of net financial debt to Ebitda of the consolidated group to 2.38 times, compared to 3 times as of December 31, 2022.

During these nine months there has been solid cash generation. Thus, the net cash generated by operating activities has reached 1,904.2 million euros compared to 1,558.3 ​​million in the same period of 2022.

The investment paid between January and September 2023 amounted to 1,203.3 million euros. These investments have focused on improving the facilities and operational safety of the airports and include 611.9 million euros for the mandatory payments for the concession of the Block of Eleven Airports in Brazil.

For its part, the group's operating expenses, which include expenses for supplies, personnel and other operating expenses, amount to 1,646.5 million euros in the first nine months of 2023, compared to the 1,566.5 million corresponding to the same period. period of 2022. The evolution of these expenses reflects the greater activity and operations of the group's terminals and open airport spaces, according to Aena.

Regarding other operating expenses, the reduction in electricity expenditure in Spain stands out, which was 113.5 million euros (51.5% less than in the first nine months of 2022). Excluding the impact of energy, the year-on-year increase in other operating expenses in the Spanish airport network has been 83.8 million euros, 12.3% more than from January to September 2022, in a context of greater airport activity.

MANAGEMENT OF THREE BRAZILIAN AIRPORTS BEGINS.

In the international arena, Aena, through its subsidiary Aena Desarrollo Internacional, already operates three of the 11 airports of the new BOAB group (Block of Eleven Brazilian Airports). These are the Congonhas-Sao Paulo, Campo Grande and Uberlandia 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 eleven airports is the largest international operation in the history of Aena, which, under the Aena Brasil brand, has managed six other airports in the Northeast of the country since 2020.