Traffic in the Spanish airport network reaches around 120 million passengers, 57.7% higher than in 2020
Gross operating profit (EBITDA) in 2021 was €644.8 million, a decrease of 9.8% compared to 2020
Total consolidated revenue is €2,393.3 million, 6.7% more than in 2020
To date, the estimated amount of rent reduction throughout the life of the commercial activity contracts affected by the Seventh Final Provision of the Spanish Land Transport Act is estimated at €1,300 million, subject to the evolution of traffic
Spain: In 2021, Aena reduced its losses to €60 million, a figure that continues to reflect the impact of the COVID-19 crisis, but represents half of those recorded in 2020, which amounted to €126.8 million.
In 2021, there was a progressive increase in passenger traffic in the Spanish airport network of 57.7% compared to 2020, with a recovery of 43.6% of 2019 traffic. The year 2021 closed with 119,959,671 passengers in the Spanish airport network, with a growth in domestic traffic of 54.2%, while international traffic increased by 60.8%. If the data for the London Luton Airport and the six airports of Aeroportos do Nordeste do Brasil are included, the number of passengers amounts to 136.3 million (up 52.7% compared to the same period in 2020), which is equivalent to a recovery of 44.4% of traffic for the same period of 2019.
Total consolidated revenue stood at €2,393.3 million, which is an increase of 6.7% compared to 2020. Aeronautical revenue was €1,332.2 million, 35.1% more than in 2020, while commercial revenue, at €799.2 million, has experienced a decrease of 23.6%.
As a result of the health crisis caused by COVID-19 and the measures adopted by public authorities to deal with it, in January 2021, Aena formulated a discount proposal for the commercial operators of duty-free shops, speciality shops, food and beverage activities, vending machines, financial services and advertising in relation to the Minimum Annual Guaranteed Rent (MAG) in order to adjust the contracts fairly to the situation of the parties, both significantly affected by the pandemic. More than 90 commercial operators accepted Aena’s proposal.
On 3 October, Act 13/2021 entered into force, which in its Seventh Final Provision modifies the lease agreements or assignment of business premises for food and beverage and retail activities that were in force on 14 March 2020 or previously tendered. The total reduction of the Minimum Annual Guaranteed Rents (MAGs) accumulated until 3 October 2021 arising from this amendment amounts to €727 million.
To date, the total reduction in rent over the term of these contracts is estimated at €1,300 million. This amount is subject to the evolution of traffic.
Aena will continue to defend the interests of all its shareholders, including the State Administration—that is, the Spanish taxpayers.
EBITDA and cash generation
In 2021, gross operating profit (EBITDA) was €644.8 million, which represents a decrease of 9.8% compared to 2020, including €32 million for the consolidation of London Luton and deducting €84.5 million for the consolidation of the Aeroportos do Nordeste do Brasil (Brazil), placing the margin at 26.9% (31.9% in 2020).
In 2021, there was an increase in net cash generated by operating activities of 91.8% up to €280.5 million, compared to €146.2 million in 2020.
The consolidated net financial debt of the Aena Group has increased to €7,446.3 million (including €545.2 million from the consolidation of the net financial debt of London Luton Airport and €11.1 million from ANB), compared to €7,030.9 million at the end of 2020. This represents an increase in the ratio of net financial debt to EBITDA for the consolidated group to 11.5 times, compared to 9.8 times on 31 December 2020.
