AENA reports +12.1% surge in commercial revenue in first nine months of 2017

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.

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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.

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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.

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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.

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