AENA returns to profit after 2 years

AENA, Spain’s main airport operator, is profitable again with a net profit of 163.8 million euros between January and June 2022. The improvement over the same period in the previous year is 147.3%, when it recorded 346.4 million euros in losses.

The company returns to show its balance sheet in green after eight quarters of losses. The last time AENA made a profit was during the first quarter of 2020 – the last quarter before the pandemic – when it made €23.1 million.

Economic results

AENA’s total revenue accounts for a significant portion of the profit: during the period it amounted to €1720.6 million, up 99.4% over the first six months of 2021. Most of the increase was attributed to increased air traffic, with revenue from aircraft movements growing by 192.5% to 1,072.3 million. euro. Meanwhile, income from commercial operations rose 0.3% to 398 million euros. In the second quarter of 2022 the level of business income was reached for the same period in 2019.

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Operating expenses on their part amounted to 1.055 million euros, an increase of 40% over the same period in 2021. This increase reflects, above all, the increase in the price of electricity at airports in the network, which is supposed to reach one year. An increase of 92.3 million euros over the year. To provide the predictability of this element, AENA has been working for years on energy self-sufficiency, and has planned to invest 350 million euros to develop its “PV plan”. By 2026, the 14 airports with the most hours of sunshine in the grid must have solar panels to ensure they are energy self-sufficient.

financial results

Total operating profit Before taxes, it moved from negative territory in the first half of 2021 (58.2 million euros losses) to positive values, with an income of 631.3 million euros. From January to June 2022, there was an increase in operating cash flow to 785.6 million euros, compared to -220.3 million euros in the same period in 2021. AENA’s financial debt decreased by 462 million euros, to 6984.3 million euros.

Operating results

The number of passengers in the first six months of the year increased by 287.7% in Spain to 104.9 million. This figure is equivalent to 82% of traffic in the first half of 2019. The increase is generalized at all airports and in all types of traffic: national traffic increased by 142.6%, while international traffic increased by 469%.

If data from London-Luton Airport and the six airports in Brazil are included, the total number of passengers comes to 117.3 million. AENA Brazil showed a recovery of 38.1%, practically reaching 2019 traffic levels.

future

The AENA Board of Directors approved the quotation in effect for 2023, setting the maximum adjusted annual income per passenger (IMAAJ) at €10.01. This represents a variance of 0.69% compared to the IMAAJ for 2022, from €9.95 per passenger.

In 2023, AENA plans to make investments of €535 million in its Spanish network. As of June 30, works have already been carried out in the amount of €180.6 million.