Aena closed the first quarter of 2025 with a profit of 301.3 million euros

Aena’s net profit for the first quarter of 2025 was €301.3 million, which represents an increase from €261 million in the same period of the previous year. The gross operating profit was €643.6 million, with a margin of 48.6%. In comparison to 2024 (€581.1 million), this figure indicates a 10.8% increase.

The total consolidated revenue for the first quarter of 2025 was €1,325.6 million, a 7.5% increase from the same period in the previous year. Aeronautical revenue was €683.6 million, while commercial revenue was €441.1 million.

The Brazilian Airports Block (BOAB) consolidation generates €46.8 million in revenue and €25.7 million in EBITDA. The Aena Group (Spain, London-Luton, and Aena Brazil) expanded its passenger traffic to 78.3 million, a 4.9% increase from 2024.

The number of passengers at Spanish airports increased by 4.7%, reaching 63.6 million. The timing of Easter, which occurred in March last year and April this year, as well as the fact that last year was a leap year, has an impact on the comparative figures with the same period in 2024.

Investments

The investment, which totalled 203.1 million euros between January and March 2025, was primarily directed towards the enhancement of operational safety and airport facilities.

In the first quarter of 2025, Aena Group’s OPEX, which encompasses procurement, personnel, and other operating expenses, increased to €691.9 million from €659.9 million in the same period of 2024. The evolution of these expenses is indicative of the group’s personnel expenses (+10.7%) and the Spanish network’s expenses for items such as electricity (+22.4%), maintenance (+9.5%), and security (+8.3%).

The year-on-year increase in other operating expenses at the Spanish airport network was €17.1 million, which is 4.7% higher than the corresponding period from January to March 2024, excluding the impact of energy. The consolidated group’s net financial debt-to-EBITDA ratio decreased to 1.37 times from €5,498 million for the full year 2024, as the Aena Group’s consolidated accounting net financial debt stood at €4,886 million.

The first quarter of 2025 saw solid cash generation. The net cash generated from operating activities increased to €820.4 million from €723.7 million in the first quarter of 2024.