Aena commercial revenue +21% in 2023; SPP up ‘across all business lines’

By Luke Barras-hill |

Passenger traffic across Aena’s Spanish airports network rose 16.2% to 283.2m.

Year-on-year commercial revenue gains (+25.2%) outpaced growth in group passenger traffic (+16%) for airport operator Aena in 2023 (see charts* at footer)

Sales from commercial activities totalled €1,552 million/$1,681 million – a 17.3% uplift on 2019 – as the Spanish airport operator’s network, which includes its airports operations across Spain, London Luton and northeast Brazil, handled 314.1 million passengers, show its full-year results released today (28 February).

At its Spanish airports alone, the traffic increased 16.2% to 283.2 million passengers, equivalent to 102.9% of its 2019 traffic level.

Fixed and variable rental income invoiced and collected in 2023 was up 21.8% on 2019.

Total sales per passenger lifted 14% above 2019, with Aena noting this performance was observed ‘across all commercial business lines’.

Aena says it will put out to tender speciality shops equating to 13% of the segment’s turnover this year.

As reported, Aena concluded its fiercely competitive duty free tender – the largest in the world – last year, with Avolta (formerly Dufry) and Lagardère Travel Retail between them picking up the bulk of the concession contracts.

Total revenue at €5,141.8 million

Total revenue broke the €5 billion mark in 2023, as EBITDA grew 45.4% year-on-year to €3,022.6m, exceeding the pre-pandemic (2019) level one year earlier than expected based on the airport operator’s strategic plan 2022-2026.

Net profit totalled €1,630.8m, including extraordinary financial items, compared with €901.5m in 2022.

Consolidated accounting net financial debt for the group stood at €6,222m, compared with €6,242.9m in 2022, while the net financial debt to EBITDA ratio of the consolidated group fell to 2.06, compared with 3.00 as of 31 December 2022.

At its shareholders meeting in April, the company plans to offer an uprated gross dividend on its fiscal 2023 profit for the the benefit of its public and private shareholders.

Recently, Aena made its debut in the renowned Dow Jones Sustainability World Index and remains in the FTSE4Good.

Aena is included in the ‘Europe’s Climate Leaders 2023’ list, compiled by the Financial Times in collaboration with online data portal Statista.

The list includes 500 European companies to have achieved significant reductions in their carbon emissions and are recognised for their climate-related commitments.

*Source: Aena.

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