Aena Sme Sa · BME:AENA
Aena Sme Sa — FY2023 Earnings Presentation
39 slides from Aena Sme Sa's earnings presentation, Feb 28, 2024
Slide 1: Results Presentation 2023 full year report
Results Presentation 2023 full year report 28 February 2024
Slide 2: Disclaimer
Disclaimer This report presents the most significant data of Aena S.M.E., S.A. and its dependent companies Factors of macroeconomic order, market conditions, regulatory changes, movements in national ("Aena" or "the Company") and its management throughout the year 2023, including the most and intern
Slide 3: Key highlights, Business trends, Financial results, Appendices
1 2 3 4 Key Business Financial Appendices highlights trends results
Slide 4: Key highlights
Key highlights Traffic: Aena Group1 passenger traffic Ordinary operating revenue: €5,039.8m (+€857.7m, +20.5% vs 2022): Aeronautical revenue, increased to 314.1 million (+16.0% vs €2,768.3m (+€400.9m, +16.9%); commercial revenue, €1,534.5m (+€303.9m, +24.7%); real 2022), which implies a recovery of
Slide 5: Key highlights
Key highlights Commercial activity: In 2023, there has been a significant International activity: In increase versus pre-pandemic commercial activity: October and November 2023, Aena took over the • Total sales (passenger expenditure) from commercial management of the activities exceeded 2019 levels
Slide 6: Key highlights
Key highlights 2024 airport charges: On 1 February 2024, the Investment paid: €1,384.3 million. These ESG: Aena has entered the Dow Spanish National Markets and Competition investments focus mainly on improving airport Jones Sustainability World Index Commission (CNMC) issued its Resolution on the f
Slide 7: Key highlights
Key highlights Passengers1 (m): +16.0% Total Revenue (€m): +21.3% +2.3% +14.2% Spanish Network 307.1 314.1 Driven by aeronautical 13.8 270.7 14.7 5,141.8 13.9 revenue (+16.9%), 4,503.3 4,237.5 18.0 16.2 Luton 13.1 commercial revenue (+24.5%) and international Northeast Brazil segment revenue 275.2 2
Slide 8: Key highlights: Performance by business area
Key highlights: Performance by business area Airports1 Airports1 Real estate 2023 Aeronautical Commercial services1 International 2.1% 12.0% 55.6% Total revenue 30.2% €5,141.8m (+21.3%) €2,858.0m (+18.5%) €1,552.0m (+25.2%) €106.7m (+18.9%) €616.7m (+26.9%) 1.8% 12.1% 71.4% 14.3% Total expenses €2,9
Slide 9: Key highlights, Business trends, Financial results, Appendices
1 2 3 4 Key Business Financial Appendices highlights trends results
Slide 10: Traffic data
Traffic data Passengers, aircraft movements and cargo Monthly trend in passenger traffic1 % Change % Change Passengers (m) 2022 Spanish Network 2023 2022 2019 2023/2022 2023/2019 Passengers 283,195,399 243,693,689 16.2% 275,247,387 2.9% Monthly change (%) 2023 Operations 2,403,918 2,216,474 8.5% 2,3
Slide 11: Traffic data
Traffic data Passenger traffic1 by airports Breakdown of passenger traffic1 by markets and groups of airports Total 2023 Europe (excl. Spain) 2023 Airports/ Passengers(1) Change Share % Change % Change Groups(2) (m) (%) (%) Domestic(3) International(3) 1.7% 1.2% 0.2% (27.2% in 2.5% 2019) 3.3% A.S. M
Slide 12: Revenue ratios per passenger
Revenue ratios per passenger1 Aena S.M.E., S.A. 2019 2022 2023 Q1 Q2 Q3 Q4 2019 Q1* Q2* Q3* Q4 2022 Q1 Q2 Q3 Q4 2023 Passengers (m) 52.7 74.7 85.6 61.1 274.2 37.8 66.8 78.9 59.4 242.9 53.6 75.5 86.9 66.4 282.3 Total Revenue (Aeronautical 832.7 1,105.3 1,253.2 968.3 4,159.5 661.2 968.6 1,132.1 922.6
Slide 13: Commercial revenue summary
Commercial revenue summary1 Commercial and Real Estate Services Revenue (Millions of euros) Revenue Change 2023/2022 Change 2023/2019 2019 2022 2023 € million % € million % Total business activity 1,315.6 1,334.2 1,580.9 246.6 18.5% 265.3 20.2% Fixed and Variable Rents 1,170.6 1,201.2 1,426.0 224.8
Slide 14: Ordinary commercial revenue
Ordinary commercial revenue1 Business area (Thousands of euros) Revenue Change 2023 2022 € thousand % Duty-Free Shops 411,139 332,928 78,211 23.5% Food and beverage 325,007 243,622 81,385 33.4% Specialty shops 133,835 90,617 43,218 47.7% Car parks 180,191 146,423 33,768 23.1% Car rental 184,669 148,
Slide 15: Fixed and Variable Rents invoiced in the period
Fixed and Variable Rents invoiced in the period1 Fixed and Variable Rents invoiced in the period (Thousands of euros) Business areas Cumulative to September Fourth Quarter Annual total Var. Var. Var. Var. Var. Var. 2019 2022 2023 2019 2022 2023 2019 2022 2023 2023/22 2023/19 2023/22 2023/19 2023/22
Slide 16: Fixed and Variable Rents invoiced per passenger
Fixed and Variable Rents invoiced in the period1 Fixed and Variable Rents invoiced in the period per passenger (euros per passenger) Business areas Cumulative to September Fourth Quarter Annual total Diff. Diff. Diff. Diff. 2023 vs 2022 2023 vs 2019 2019 2022 2023 2019 2022 2023 2019 2022 2023 2023/
Slide 17: Minimum Annual Guaranteed Rent (MAG)
Minimum Annual Guaranteed Rent (MAG)1 Minimum Annual Guaranteed Rent (MAG) (Thousands of euros) Business areas Cumulative to September Fourth Quarter Annual total Var. Var. Var. Var. Var. Var. 2019 2022 2023 2019 2022 2023 2019 2022 2023 2023/22 2023/19 2023/22 2023/19 2023/22 2023/19 Duty-free shop
Slide 18: Minimum Annual Guaranteed Rent (MAG) per passenger
Minimum Annual Guaranteed Rent (MAG)1 Minimum Annual Guaranteed Rent (MAG) per passenger (Euros per passenger) Business areas Cumulative to September Fourth Quarter Annual total Diff. Diff. Diff. Diff. 2023 vs 2022 2023 vs 2019 2019 2022 2023 2019 2022 2023 2019 2022 2023 2023/22 2023/19 2023/22 202
Slide 19: OPEX
OPEX OPEX1 Aena Group (€m): +6.1% Aena (excluding Luton, ANB and 2,090.7 2,218.3 25.4 BOAB) 0.1 The evolution of OPEX reflects: Luton 1,702.0 173.4 204.7 178.2 158.8 159.1 • the effect of increased activity and the full opening of Northeast Brazil terminals and airport spaces; Airport Group (ANB) 1,
Slide 20: Breakdown of Other operating expenses for the Network in Spain
Breakdown of Other operating expenses for the Network in Spain1 million € Cumulative to September Fourth Quarter Annual total 2019 2022 2023 Var. 2023/22 Var. 2023/19 2019 2022 2023 Var. 2023/22 Var. 2023/19 2019 2022 2023 Var. 2023/22 Var. 2023/19 Passengers (m) 214.0 184.2 216.6 32.4 17.6% 2.7 1.3
Slide 21: Cash generated and net financial debt (Aena Group)
Cash generated and net financial debt (Aena Group) Net Cash from Operating Activities (€m): +19.1% Net Financial Debt (€m) Net financial 2.4x 3.00x 2.06x million € 2023 2022 debt/EBITDA1 2019 2022 2023 Gross financial debt 8,586 7,816 +5.0% Cash and cash equivalents (2,363) (1,574) Net Financial Deb
Slide 22: Aena S.M.E., S.A. debt
Aena S.M.E., S.A. debt. Maturity schedule of Aena’s Debt breakdown by type and average long-term debt1 interest rate for the period Fixed 2.20% Average rate 1.04% Total: €7,522.6m | Average life: 6.1 years Variable Debt (€m) % of debt 25% 20% 21.9% 15.6% 10.4% 11.9% 4.6% 7.9% 10.7% 6.3% 2.8% 1.4% 6.
Slide 23: Luton
Luton Passengers (m) Revenue (£m) Recovery of 90.0% of Aeronautical revenue 2019 traffic. increased 33.3% to 296.6 18.0 £139.1 million. 226.9 227.3 16.2 Commercial revenue grew 13.1 by 28.1% to £157.5 million. 2019 2022 2023 2019 2022 2023 EBITDA (£m) EBITDA margin 38.5% 40.2% 36.4% 91.3 107.9 87.4
Slide 24: Northeast Brazil Airport Group (ANB)
Northeast Brazil Airport Group (ANB) Passengers (m) Revenue (R$m) Recovery of 106.3% of Aeronautical revenue increased by 2019 traffic, much higher 16.5% to R$323.0m. Commercial 1,129.1 1,179.2 14.7 than the other competitors 13.8 13.9 revenue increased by 11.3% to in Brazil. R$143.0m. Construction
Slide 25: Block of Eleven Airports in Brazil (BOAB)
Block of Eleven Airports in Brazil (BOAB) Main milestones: Congonhas airport obtained operational certification from the regulator (ANAC) in May 2023. Between October and November 2023, Aena took over the management of the operations of the Block of Eleven Airports in Brazil (BOAB). Phase IB o
Slide 26: Key highlights, Business trends, Financial results, Appendices
1 2 3 4 Key Business Financial Appendices highlights trends results
Slide 27: Income statement
Income statement 1 Adjustments among segments. million € 2023 2022 Change €m % Change Ordinary revenue 5,039.8 4,182.2 857.7 20.5% Airports: Aeronautical 2,768.3 2,367.4 400.9 16.9% Airports: Commercial 1,534.5 1,230.5 303.9 24.7% Real estate services 105.5 86.6 18.9 21.8% Región de Murcia Internati
Slide 28: Cash Flow Statement
Cash Flow Statement million € 2023 2022 Change €m % Change Profit/(loss) before tax 2,165.9 1,169.6 996.3 85.2% Depreciation and amortisation 821.2 795.2 Write-off of financial assets 24.3 17.4 Changes in working capital -31.4 92.7 Financial result 97.0 100.1 Impairment of fixed assets -155.0 -37.0
Slide 29: Key highlights, Business trends, Financial results, Appendices
1 2 3 4 Key Business Financial Appendices highlights trends results
Slide 30: Appendix. Other financial information. Key figures. Quarterly trends
Appendix. Other financial information. Key figures. Quarterly trends First Quarter Second Quarter Third Quarter Fourth Quarter Total million € 2023 2022* Change 2023 2022* Change 2023 2022* Change 2023 2022 Change 2023 2022 Change 1 Traffic (thousands of passengers) 60,648.5 43,387.7 39.8% 83,472.5
Slide 31: Appendix. Other financial information. Statement of financial position
Appendix. Other financial information. Statement of financial position million € 2023 2022 million € 2023 2022 Property, plant and equipment 11,984.3 12,096.2 Share capital 1,500.0 1,500.0 Share premium 1,100.9 1,100.9 Intangible assets 1,723.1 806.7 Retained earnings/(losses) 5,104.3 4,190.5 Real e
Slide 32: Appendix. Passenger data by airport groups
Appendix. Passenger data by airport groups1 Traffic 2023 vs 2022 2022 2023 Adolfo Suárez Barcelona-El Prat Palma Canary Islands (m Passengers) Group I Group II2 Group III Aena Madrid-Barajas Josep Tarradellas de Mallorca Group 18.9% 19.9% 8.9% 11.4% 17.7% 18.1% 20.7% 16.2% Passengers 283 244 Total 6
Slide 33: Appendix. Passenger data by airport groups
Appendix. Passenger data by airport groups1 Traffic 2023 vs 2019 2019 2023 Adolfo Suárez Barcelona-El Prat Palma Canary Islands (m Passengers) Group I Group II2 Group III Aena Madrid-Barajas Josep Tarradellas de Mallorca Group -2.5% -5.3% 4.7% 7.6% 10.0% -1.0% 16.4% 2.9% Passengers 275 283 Total 62
Slide 34: Appendix. Traffic information
Appendix. Traffic information Traffic by airline (top 10) Change 2023/2022 Change 2023/2019 Share (%) (1) (1) Passengers Passengers Passengers Carrier % Passengers % Passengers 2023 2022 2019 2023 2022 2019 Ryanair(2) 60,868,830 52,173,208 50,022,160 16.7% 8,695,622 21.7% 10,846,670 21.5% 21.4% 18.2
Slide 35: Appendix. Traffic information
Appendix. Traffic information Traffic by origin/destination (top 15) Change 2023/2022 Change 2023/2019 Share (%) (1) Passengers Passengers Passengers Country % Passengers % Passengers 2023 2022 2019 2023 2022 2019 Spain 93,016,342 82,675,848 85,934,937 12.5% 10,340,494 8.2% 7,081,405 32.8% 33.9% 31.
Slide 36: Appendix: Other shareholdings: Trend in passenger traffic
Appendix: Other shareholdings: Trend in passenger traffic (m) GAP(1) Exceeds 2019 traffic by +31.4%. 56.7 63.5 48.3 2019 2022 2023 Aerocali SACSA +19.6% compared +11.7% compared to 2019 traffic. to 2019 traffic. 7.2 6.4 7.4 6.8 5.8 5.7 2019 2022 2023 2019 2022 2023 1 Includes traffic at Sangster Int
Slide 37: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures In addition to the financial information prepared under the International Financial • amortisation and depreciation accounting expenses that do not entail cash Reporting Standards adopted by the European Union (IFRS-EU), the reported financial outflow, it i
Slide 38: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures 2. Measures of the financial position • Net Financial Debt/EBITDA Ratio: It is calculated as the quotient of the Net Financial Debt divided by the EBITDA for each calculation period. In the event • Net Debt: The Net Debt is the main APM used by Management t
Slide 39: Thank you
Thank you Elige este cierre cuando NO hayas incluido ningún capítulo de sostenibilidad en la presentación. Company committed to the United Nations Sustainable Development Goals (SDGs)