August 4, 2021

Investors punish AENA's new strategic plan

Investors punish AENA's new strategic plan


The promise of more than 1,000 million euros in dividends for next year has not been enough to convince Aena's investors that the strategic plan for the next three years presented by the company today is good enough for them. The company's shares fell by more than 3% as a result of the slowdown in the airport manager's progress that outlines the project. Aena expects an increase in traffic for the next year of 2%, less than half of the 5.5% that this year is expected to advance.

In line with the expected increase in traffic, the company expects a modest increase in revenues of 2.7% to 4,362 million euros. This year, his pressure is to improve his sales by more than 5%. As a result of this income, its gross profits will only increase next year by 0.15% to 2,588 million euros. Its EBITDA margin will also be reduced from 60.9% to 59.3%. As for net profit, Aena expects to advance by 3% to 1,311 million euros.

Despite this moderation in its growth, the company led by Maurici Lucena plans to distribute 80% of its profits among its shareholders over the next three years. In 2019 it will deliver 1.001 million, according to the plan.

To try to boost its growth for the future, Aena will try to provide airports with more capacity – it will invest 2,800 million for this – competitive rates – now the lowest in Europe – and an improvement in the quality levels of the airport. service. In addition, it will try to promote new lines of business through the development of the real estate plans of Barajas and El Prat airports, the international expansion and the redesign of its commercial areas to generate more revenue.

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