The airport manager aims for 300 million passengers in 2026
Airport manager Aena foresees a positive evolution of its business in the coming years, which will be reflected in the financial figures. Thus, it plans to recover the gross operating income (Ebitda) of 2019 between 2024 and 2025 and reach 300 million passengers in 2026. It will also resume the dividend in 2023, with the payment of 80% of the benefit to the shareholder.
In the presentation of the Strategic Plan 2022-2026, approved by the Board of Directors on October 25, 2022 and sent this morning to the National Securities Market Commission (CNMV), the company assures that it intends to restore gross operating profit (Ebitda) . of 2019 between 2024 and 2025, reaching a net debt ratio of twice Ebitda by 2026. The Ebitda margin will exceed 55% from 2025.
The total investment in Spain in the period 2022-2026 will be €2,916 million, representing an annual average of €583 million, with a special emphasis on the airport cities of Madrid-Barajas, Barcelona-El Prat or Valencia.
Aena will continue to focus on internationalization following investments in Luton (UK) and several airports in Brazil, with selective purchases abroad to reach the target that international activity will represent 3.5% of Ebitda in 2019 to 15% in 2019 2026.
It maintains its commitment to shareholders and remains at the payout (percentage of earnings allocated to dividend) of 80%. The manager assures that the payment will be calculated on the net profit before the accounting adjustments of the legally required discounts on the rents of the commercial contracts as a result of the covid.
“This measure means an increase of 1.37 euros/share at the next dividend payment, charged to the net profit of 2022,” they indicate in the presentation sent to the CNMV.
The airport operator has also updated the traffic scenarios, placing the recovery of pre-covid-19 levels in 2024. Aena expects to surpass pre-covid traffic in two years and reach 300 million passengers by 2026. In 2019, the company reached 275 million passengers.
The company’s goal is to increase commercial revenue per passenger by at least 12% by 2026 compared to 2019. “All these commitments are ‘at least’, if the good expectations are confirmed, all estimates will be fairly reviewed,” assured Lucena in the presentation to analysts this Wednesday.
The baselines of the company’s strategic plan will focus on the development of its core business, aviation and commercial activities, and growth through diversification, expansion of its international operations and development of airport cities and other adjacent businesses. Sustainability will be the transversal factor of this expected growth.
Source: La Verdad
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