IAG raises its operating profit forecasts to an annual average of 7.200 million between 2019 and 2023
MadridUpdated:
The IAG air group, to which Iberia belongs, has annually planned an operating result (ebitdar) of7,200 million euros on average during the period 2019-2023, which represents an improvement of 10.7% compared to the forecast of 6,500 million announced for the period 2018-2022, as reported by the company in a statement sent to the National Securities Market Commission (CNMV).
In 2017, International Airlines Group (IAG), to which also British Airways, Vueling and Aer Lingus belong, has achieved an ebitdar (gross operating profit before costs for the rental of the fleet) of 5,087 million euros.
On the occasion of the celebration of its Capital Markets Day, IAG has raised its net investment objective, which goes from 2,100 to 2,600 million euros per year. The airline group has alsorevised upward capacity growth(measured in seat-kilometers) up to 2023 to 6%, one point more than the 5% of annual average fixed for the period 2018-2022.
On the other hand, has maintained its earnings per share forecasts (12%), operating profit margin (between 12 and 15%), return on capital invested (15%), free cash flow for the shareholder (2,500 million euros) and financial leverage at the level of "investment grade".
