Aena is navigating a period of recovery after the Covid crisis, steering back toward profitability as commercial aviation and tourism rebound. Following two challenging years, the airport operator reported a net profit of 901 million euros in 2022 to the CNMV, signaling a positive turn after the pandemic-era losses.
Controlled with 51% ownership held by the Spanish State through Enaire, the group revised its 2021 accounts to reflect accounting changes that affected how results were calculated. A wave of temporary rent reductions imposed during the pandemic, driven by a legislative shift approved by Congress, contributed to substantial losses in 2021, which rose to 475 million euros, eight times the 60 million previously announced. Over the pandemic two-year period, the group accumulated losses of 602 million euros.
Consolidated revenue reached 4,237 million euros, up 69.3% from the prior year. Aviation revenue, paid by airlines to use airport facilities, rose by 81.5% to 2,418 million euros. Commercial revenue, from store and restaurant rentals within airport premises, increased 37.5% to 1,244 million euros. Gross operating profit, or EBITDA, climbed to 2,079 million euros for the year, a stark improvement from 91 million euros the year before.
improve forecast
The favorable trajectory in Aena’s accounts aligns with a rebound in tourism and travel that accelerated last year. Spanish airports together served approximately 243.7 million passengers, a figure close to twice the level seen in the previous year and approaching pre-pandemic volumes. When including traffic from Luton Airport in London and six Aena Brasil airports, passenger numbers total around 270.7 million, marking an 88.1% recovery relative to pre-Covid figures in 2019.
Under the leadership of Maurici Lucena, the group has revised its expectations for passenger traffic in Spain upward. The recovery target has been raised from the 2019 benchmark of 275 million passengers to a range of 94% to 104% of that level, with the central scenario viewed as the most probable and implying a 99% improvement versus 2019. The latest estimates place passenger traffic at just over 272 million users in the core market.
363 million for the state
Aena confirms its return to dividend distributions as outlined in the new strategic framework. With improved operations and stronger financial results, the board approves a gross dividend of 4.75 euros per share. This translates to an approximate total distribution of 712 million euros to shareholders, of which 363 million euros will accrue to the Spanish State as the principal shareholder.