Last year Aena earned 1,327.9 million euros, 7.8% more than in 2017, thanks to the positive evolution of the business and a decrease in financial expenses, announced Tuesday the airport manager to the National Securities Market Commission (CNMV).
The gross operating result (EBITDA) was 2,656.6 million, 5.5% more than in the previous year, including 78.7 million from the consolidation of the London Luton Airport and the extraordinary net impact of 19.6 million derived from the interruption of the civil operations of the Murcia San Javier aerodrome.
Excluding this effect, the EBITDA would have reached the figure of 2,676.1 million and would have meant a growth of 6.3%. Total revenues increased by 7.3% last year, to 4,320.2 million, of which 2,852.8 million, or 6% more, corresponded to the aeronautical segment; 1,162.4 million to the commercial, 9.6% more; 238.1 million to the international (201.3 million to Luton airport, 12.1% more), 10.5% more, and 69 million to real estate services, 12.9% more.
The board of directors of Aena will propose to the general meeting of shareholders, to be held in April, the distribution of a gross dividend of 6.93 euros per share charged to the results of 2018, which involves distributing 80% of net profit and that represents an increase of 6.6% compared to the previous year.
Operating expenses (supplies, personnel and others) increased by 6.7% (7.2% excluding Luton) as a result of a higher volume of traffic, the improvement of the quality of services and the increased pressure of costs that is reflected in the new contracts.
The cash flow of the company reached 1,947.7 million, a fall of 3.3%, compared to 2,014.6 million in 2017, which is mainly due to the fact that the tax was recovered that year of companies corresponding to 2015 (110.5 million) since the form of payment of the airlines was changed in 2018, going from prepayment to endorsement (28.4 million).
Excluding both effects, operating cash flow would have increased by 3.8%. Aena's net financial debt stands at 6,654.1 million euros compared to 7,156 million at the end of 2017, bringing the net financial debt / ebitda ratio down from 2.8 times to 2.5 at December 31 of 2018.
Aena expects a growth in passenger volume of 2% for this fiscal year, an estimate that could vary in an environment of 0.5%, after closing 2018 with a total of 280.3 million, 5.8% more, of which 263.8 corresponded to Spanish airports (5.8% more) and 16.6 million to Luton (5% more).
Ryanair was the airline that carried more passengers in 2018 in the Aena network in Spain, with 46.8 million, 6.4% more and a share of 17.8%, followed by Vueling, with 39.4 million, 13.2% more (14.9%), Iberia, with 19.3 million, 10.4% more (7.3%), and Air Euroa, with 17.4 million, 10.9% more (6.6%).