Profits of main airport operator in Spain double in first quarter of year thanks to tourism boom

Aena manages 48 Spanish and several international airports, including London-Luton, making a total of 63

Colpisa

Madrid

Wednesday, 1 May 2024 | Updated 02/05/2024 13:28h.

The boom of tourism in Spain has led airport operator Aena to record a net profit of 261 million euros in the first quarter of the year, almost double the 133.6 million it obtained in the same period last year, according to new data.

In the first three months of 2024, Aena obtained a gross operating profit (Ebitda) of 581 million euros, with a margin of 47%, according to its accounts released on Tuesday 30 April. It's a 60% increase compared to 2023 (368.6 million). The consolidation of the Eleven Brazilian Airports Block (BOAB) contributed 44 million euros to Aena's revenues and 25.3 million euros to Ebitda, the Spanish company pointed out.

Passenger traffic

Passenger traffic of the Aena group (Spain, London-Luton and the airports of Northeast Brazil and the eleven airports of the Eleven Airports Block of Brazil) grew to 74.6 million (11.9% more than in 2023). This was mainly driven by the increase in traffic at airports in Spain, where it rose by 13.2% to 60.8 million passengers.

The airport operator's total revenues from January to March grew to 1.23 billion euros, an increase of 20% compared to the first quarter of the previous year. Aeronautical revenues were 632 million euros, 21% more than in 2023. Commercial revenues, supported by a growth in sales from commercial activities, reached 402.2 million, up 19.4% compared to the first quarter in 2023.

The airport operator's consolidated accounting net financial debt stood at 5.79 billion euros, compared to 6.22 billion euros in 2023, decreasing the consolidated group's net financial debt to Ebitda ratio to 1.79 times.

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