Report
Ana Arjona-Martinez ...
  • Yan Derocles

AENA : 2022-2026 strategic update: No big announcements, as expected, while operating targets just slightly ahead of our estimates

>Targets a touch above our numbers, mainly due to higher traffic at the mid-point - Yesterday, Aena held an Investors’ Day in Madrid, in which it mainly announced, as expected, an upward revision of its main targets, with the main highlights being: 1/ Traffic at the central scenario: 294m, 300m and 308m passengers expected in 2024, 2025 and 2026 respectively, implying a recovery rate of 107%, 109% or 112% vs 2019 level. 2/ Commercial: revenues +48% 2026-19,...
Underlying
Aena SME SA

Aena SME SA, formerly Aena SA, is a Spain-based company primarily engaged in the airports operation. Its activities are divided into four segments: Airports, which comprises Aeronautical subdivision, responsible for the management of airports, jetways, security, handling, cargo and fuel services, among others, as well as Commercial subdivision, including duty-free and specialty stores, restaurant services, car rental, as well as banking services and advertising; Services outside the terminal, which manages real estate assets, such as parking lots, warehouses and lands; International, which comprises operations of Company's subsidiary, Aena Desarrollo Internacional SA, that invests in other airport owners principally in Mexico, Colombia and the United Kingdom; and Others, encompassing corporate activities. It manages tourism, hub and regional airports, as well as heliports and general aviation areas. Furthermore, its destination range comprises Europe, the Americas, Asia and Africa.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Ana Arjona-Martinez

Yan Derocles

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