Spanish airport operator Aena will present the update of its 2022-2026 Strategic Plan today, a document that has already been approved by its board of directors and will maintain the dividend policy, as advanced by its president, Maurici Lucena.
Lucena also announced that he will have “more ambitious goals because those that have been in force since November 2022 have become obsolete sooner than we thought.”
Aena’s dividend policy establishes a ‘pay out’ of 80%. Therefore, it will propose to the Ordinary General Shareholders’ Meeting, which will be held on April 18, the distribution of a dividend of 7.66 gross euro per share charged to the results of the 2023 financial year.
This dividend will benefit both its private and public shareholders since the Government owns 51% of the company, so it will receive 586 million euro.
The plan’s air traffic forecasts contemplated exceeding pre-pandemic levels in 2024 and 300 million passengers in 2025.
Already in 2023, the Aena Group’s passenger traffic (Spain, London-Luton and the airports in Northeast Brazil) grew to 314.1 million (16% more than in 2022), which is equivalent to 102.3% of the 2019 traffic.
Specifically, it estimated that 2022 was going to close with a maximum of 242.2 million passengers at its airports, 2023 with 266 million, 2024 with 287.9 million, compared to 275.2 million in 2019, 2025 with 301.6 million and 2026 with 315.3 million.
It also expected to recover the gross operating profit (Ebitda) of 2019 between 2024 and 2025 and that in 2026 it would reach a net debt ratio equivalent to twice the Ebitda, goals that it has already achieved in 2023.
Ebitda in 2023 was 3,022.6 million euro, with a margin of 58.8%. This figure represents a growth of 45.4% compared to 2022 and 9.3% compared to 2019. Another objective was to place the Ebitda margin above 55% from 2025.
Among the main lines of its activity in this period, Aena focuses on expanding its international business and its priority has been the consolidation and maximization of the value of the international assets it already controls, especially in Brazil.
It has also focused on the development of airport cities and other adjacent businesses, starting with Madrid-Barajas. This is a project that aims to replicate in Barcelona, Malaga, Valencia and Seville. Finally, it has paid attention to the development of its photovoltaic plan with which it hopes to significantly reduce its energy expenditure. To do this, it proposed investing more than 550 million euro in the 2021-2030 Climate Action Plan.
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