SPAIN. Airport operator AENA has reported a +12.1% year-on-year increase in commercial revenue in the first nine months of 2017, to €810.7 million.

Duty free revenue was up +9.0%, an increase of €19.7 million, to €237.4 million. Food & beverage revenue climbed +14.3%, representing an additional €17.1 million and a total of €136.7 million.

Click on image to enlarge
Source for all charts: AENA

AENA said its commercial performance was impacted by the effect of the evolution of minimum annual guaranteed (MAG) rents recognised in commercial contracts; the addition of new contracts; and Brexit and the devaluation of the Pound.

Revenue from speciality shops was up +3.8% to €71.5 million, and revenue from car parking increased +8.1% to €99 million. The latter result was linked to an increase in domestic traffic (+6.5%) and to the impact of booking, marketing and loyalty programmes.

Click on image to enlarge

Commercial income represented 26.2% of the total, with revenue across the company up +7.2% to €3,096.3 million. Total EBITDA increased +10.8% to €1,949 million.

Company-wide net profit grew +2.2% to €965.5 million. Excluding extraordinary effects in 2016, AENA said net profit increased +22.1%. The company noted the reversals of provisions for legal proceedings related to expropriation of land at Adolfo Suarez Madrid-Barajas Airport in 2016, which amounted to €204.9 million before tax.

Click on image to enlarge

Click on image to enlarge

Click on image to enlarge

Passenger traffic in Aena’s network in Spain was up +8.3%, to 193.4 million. International traffic represented 71% of the total. Including data from London Luton Airport, AENA’s passenger numbers rose to 205.8 million, a +8.4% increase. London Luton itself handled 12.3 million passengers in the first nine months.

On 13 October, AENA’s Board of Directors appointed Jaime García-Legaz Ponce as Chairman of the Board of Directors and Chief Executive Officer of the company with effect from 16 October, following the resignation of José Manuel Vargas Gómez.

Click on image to enlarge