The gross operating profit beats estimates Aena in … – Investing.com Spain

MADRID (Reuters) – The manager of Spanish airports Aena (MADRID SA (formerly Aena) improved operating results and earnings in 2014 thanks to the recovery in air traffic and rising rents for shops in airports.

In a press release, Aena said Friday that its revenue last year rose 8 percent to 3.165 billion euros and EBITDA , EBITDA, a key factor for the valuation of the company, rose 16.5 percent to € 1,875 million, slightly above the shuffled forecasts (1,850 million euros) for its recent IPO.

The net profit fell 19.8 percent to 479 million euros, by the absence of tax deductions over the previous year and for several expropriations Adolfo Suárez Madrid Barajas Airport.

“No such effects, net profit would have amounted to 595 million,” said the manager.

The group’s net debt, which manages 46 airports in Spain, stood at the end of 2014 at 10.382 million euros from 11.332 million in 2013. Aena said this figure did not include non-recourse debt 344 million euros from London Luton airport.

The airports of Madrid Barajas contributed about 58 percent of gross operating profit, while 22 regional airports and heliports two Spaniards were making a loss.

As for income, growth engine vacation were duty free shops and revenues outside the terminals (parking, etc), which increased more than 15 percent, while the airport charges revenue grew 3.9 percent, less than the increase in passenger numbers in 2014 (+4.5 percent) rate.

Aena went public last February 11 with a starting price of 67 euros. Since then, its shares have risen around 20 percent and its market capitalization is around 12,150 million euros.

On Friday, their titles advanced in early trading 0.6 percent to 81.15 euros

For the coming years, analysts expect stable growth rates, but less strong due to freezing of fares in Spain until 2025.

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