In 2019 Aena achieved net profit coming to 1,442 million euros, which is 8.6% more than in the previous year. This figure reflects the positive evolution of business and the fall in financial expenses.
Based on these figures, the Board of Directors of Aena has agreed to propose to the Ordinary General Shareholders’ Meeting the distribution of a gross dividend of 7.58 euros per share charged to the results of 2019, which entails 9.4% growth compared to the previous fiscal year. In this regard it should be noted that Aena’s Strategic Plan approved in 2018 includes a shareholder remuneration policy consisting of the distribution as dividends of 80% of the annual individual net profit generated by the company in 2018, 2019 and 2020.
Meanwhile, total consolidated revenue rose to 4,503.3 million euros, representing an increase of 4.2% compared to 2018. Commercial revenue, which accounts for 27.8% of the total, has grown by 7.7% up to 1,252.0 million euros.
Gross operating profit (EBITDA(1)) in 2019 stood at 2,766.2 million euros, 4.1% up compared to the previous fiscal year.
The company’s cash flow(2) comes to 2,114.3 million euros, up by 8.6% compared to 1,947.7 million euros in 2018.
Net financial debt(3) has remained practically the same at 6,672.8 million euros compared to 6,654.1 million euros at the close of 2018. The ratio of net financial debt to EBITDA is down from 2.5 times in 2018 to 2.3 times at 31 December 2019.
The number of passengers using the airports in Aena’s network in Spain in 2019 came to 275.2 million, 4.4% more than in 2018. International traffic has made a significant contribution here at around 69% of the total and rising by 3.5%, while domestic traffic is also up by 6.4%.
When figures for Luton Airport are included, the number of passengers amounts to 293.2 million, 4.6% more than in 2018. In 2019 Luton Airport handled 18 million passengers (an 8.6% increase).
Forecast for 2020
Aena has revised its passenger traffic forecast for 2020 for its airport network in Spain upwards from projected growth of 1.1% to a 1.9% rise.
This traffic estimate does not contemplate a potential impact of the coronavirus on global and European traffic in particular.
The company expects to improve total revenue by approximately 4% up to 4,687 million euros.
- Calculated as Total income minus Total expenses plus Depreciation and amortisation
- Cash flow calculated as adjusted EBITDA – CAPEX – Interest paid – Tax paid.
- Calculated as Current Financial Debt plus Non-current Financial Debt minus Cash and Cash Equivalents