Aena reported its financial and operational results for the first quarter of 2023, during which passenger traffic at the group level grew to 60.6 million, representing a recovery of 100.6% compared to the same period in 2019 (and +39.8% vs 2022), while net profits stood at EUR 133.6 million (compared to a loss of EUR 41.7 million in the first quarter of 2022).
Revenues during the first quarter of 2023 reached EUR 1,026.7 million, 34.3% higher than the same period in 2022, while expenses grew by only 5.1%, standing at EUR 856.3 million as a result of the growth in airport activity, although the company also managed to reduce the electric expenditure of its Spanish airports by 44% (EUR 27.5 million). EBITDA was EUR 368.6 million (+153.2%), with a margin of 35.9% on total revenues.
Aeronautical revenues grew by 27.1%, reaching EUR 511.9 million, while commercial revenues increased by 40.4%, with EUR 334.4 million. Total commercial sales were 12.1% higher than in the first quarter of 2019, and revenues from fixed and variable rents grew by 15.8% (with the latter segment showing a growth of 19.1% in duty-free store sales, with EUR 60.18 million).
Aena also highlighted the reduction of consolidated net financial debt, which went from EUR 6,242.9 million in 2022 to EUR 6,149 million in 2023, “reducing the net financial debt to EBITDA ratio of the consolidated group to 2.67 times, compared to 3.00 times as of December 31, 2022”.
On the other hand, investment between January and March grew to EUR 388.5 million, an increase of 50% compared to 2022, which includes EUR 146 million paid to the Brazilian government for the tender won for eleven airports in that country.
Spanish network
The 48 airports that make up Aena’s Spanish network mobilized 53.64 million passengers during the first quarter of 2023, 41.6% more than during the same period in 2022 and 1.6% more than in 2019.
The number of operations grew by 18.6% compared to 2022 and 0.1% versus 2019, reaching 491,344. Cargo reached 251,593 tons, 1.5% more than in 2022 and 0.5% more than in 2019.
European traffic accounted for 54.4% of the total, followed by domestic at 36.1%, Latin America and the Caribbean at 3.9%, North America at 2.1%, Africa at 1.9%, the Middle East at 1.4%, and Asia and others at 0.1%.
Luton and Brazil
At Luton Airport (United Kingdom), 3.3 million passengers were mobilized between January and March 2023, a recovery of 88.9% compared to 2019 levels, with revenues of EUR 60.5 million.
The Nordeste Brasil group mobilized 3.7 million passengers, a recovery of 97.6% compared to 2019. Revenues stood at BRL 390 million (~ EUR 69 million).
