AENA : Results slightly ahead, with underlying strength in commercial and despite pressure on opex
>Good results based on traffic mix and strong spend per pax - Aena´s Q2 2023 results were slightly ahead of our estimates: revenues and EBITDA 2.7% and 3.3% (or € 35m and € 26m) above respectively. The differences versus our forecasts came from a better performance in the aviation division, due to the positive traffic mix, and a continuation of the strength of the retail spend per passenger. This was despite the upward trend in opex continuing, which we see as a stru...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.
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.
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