2018 Results Presentation 2018 full year results 27 February 2019 | |
2018 results presentation Disclaimer This report shows the most significant data of Aena S.M.E., S.A. and its subsidiaries (“Aena” or “the Company”) and its management during 2018, including the most significant information on all business areas, the main figures and the lines of action that have guided the management of the Company. The Presentation has been prepared: (i) Only for use during the presentation of the 2018 financial results; accordingly the Presentation does not constitute an offer or invitation: (a) to purchase or subscribe shares, in accordance with the provisions of Law 24/1988 of 28 July (as amended and recast) on the securities market and its enabling regulations; or (b) to purchase, sell, exchange or solicit an offer to purchase, sell or exchange securities, or to request any vote or authorisation, in any other jurisdiction; nor should it be interpreted in this sense. (ii) For informative purposes, given that the information it contains is purely explanatory; to this end, it should be indicated that the information and any opinion or statement made in the Presentation (including the information and statements on forecasts, as defined below) (hereinafter the “Information”) has not been the subject of revision or verification by any independent third party or any auditor of the Company, and certain financial and statistical information of this Presentation is subject to rounding adjustments. Consequently, neither the Company nor its directors, managers, employees, or any of its subsidiaries or other companies in the Company’s group: (a) offers any guarantee, express or implicit, with regard to the impartiality, accuracy, completeness or correctness of the Information. (b) assumes any kind of responsibility, whether for negligence or any other reason, for any damage or loss resulting from any use of the Presentation, its content or any Information it contains. The Presentation contains information and statements on forecasts regarding the Company and its group (the "Information and Statements on Forecasts"); said Information and Statements on Forecasts (which, in general terms, are identified by means of the words 'expects', 'anticipates', ‘foresees', 'considers', 'estimates', ‘hopes', 'determines' or similar expressions, among others) may include statements regarding the expectations or forecasts of the Company, as well as assumptions, estimations or statements about future operations, future results, future economic data and other conditions such as the development of its activities, trends in the activity sector, future capital expenditure and regulatory risks and acquisitions. However, it is important to take into account that the Information and Statements on Forecasts: (i) is not a guarantee of expectations, future results, operations, capital expenditure, prices, margins, foreign exchange rates or other data or events;. (ii) is subject to material and other kinds of uncertainties and risks (including, among others, the risks and uncertainties described in any presentation that the Company might make to Spain’s CNMV (National Securities Commission), changes and other factors that may escape the control of the Company or may be difficult to foresee, which could condition and cause the results to be different (in their entirety or in part) from those contemplated in the Information and Statements on Forecasts. It must also be borne in mind that, except when required by the legislation in force, the Company does not commit to updating the Information and Statements on Forecasts if the facts are not exactly as described, or following any event or circumstance that may take place after the date of the Presentation, even if such events or circumstances make it possible to determine clearly that the Information and Statements on Forecasts will not materialise or make such Information and Statements on Forecasts inexact, incomplete or incorrect. | | 2
2018 results presentation Table of Contents I. Key highlights II. Business trends III. Financial results IV.Outlook for 2019 V. Appendices 3
2018 results presentation I. Key highlights Total Revenue (€M): +7.3% Passengers (1) (M): +5.8% +5.0% 280.3 Luton 4,320.2 265.0 4,027.6 16.6 15.8 +5.8% Spanish Network 263.8 249.2 2017 2018 2017 2018 Spanish Network Luton EBITDA (2) (€M): +5.5% Net profit (€M): +7.8% Operating Cash Flow (€M): -3.3% EBITDA Net Financial 2.8x 2.5x 61.5% 62.5% Debt/EBITDA (3) margin FY 2017 FY 2018 1,327.9 2,656.6 2,014.6 2,517.4 1,232.0 1,947.7 2017 2018 2017 2018 2017 2018 The Board of Directors of Aena S.M.E., S.A. proposes to the Ordinary General Shareholders Meeting the distribution of a gross dividend of 6.93 euros per share (4) out of 2018 net profit. This dividend, which implies distributing 80% of net profit, representing a 6.6% growth. 4 (1) Total passengers in the Spanish airport network and at Luton airport. Not including traffic at airports of non-consolidated associates. (2) Reported EBITDA (3) Accounting net financial debt calculated as: Total consolidated Financial Debt (current and non-current) minus Cash and cash equivalents. (4) Calculated as: 80% of the Net Profit of the issuer (Aena, SM.E. S.A.) in 2018
2018 results presentation Table of Contents I. Key highlights II. Business trends III. Financial results IV.Outlook for 2019 V. Appendices 5
2018 results presentation II. Traffic data Passengers, aircraft movements and cargo Monthly evolution of passenger traffic (1) Passengers (M) Spanish Network 2018 2017 Variation Monthly change (%) Passengers 263,753,406 249,218,316 +5.8% 28.3 28.4 27.6 30,0 27.4 26.2 25.7 0,2 25.1 Operations 2,300,189 2,174,424 +5.8% 23.8 24.5 24.3 21.6 22.8 25,0 22.4 0,2 21.0 Cargo (kg.) 1,010,873,428 919,913,456 +9.9% 19.1 0,1 17.7 20,0 17.6 17.2 16.6 16.4 0,1 15.5 15.3 14.3 14.0 6.5% 6.9% 7.6% 0,1 15,0 11.0% 6.4% Luton 2018 2017 Variation 0,1 8.7% 9.2% 10,0 Passengers 16,581,850 15,799,219 +5.0% 0,1 2.9% 0,0 Operations 136,270 135,538 +0.5% 5,0 5.1% 4.6% 3.4% 0,0 3.2% Cargo (kg.) 27,096,000 22,061,000 +22.8% 0,0 0,0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2017 2018 Growth in traffic Passenger traffic (1) by airports and groups of airports Breakdown of passenger traffic (1) by markets Passengers (1) Var. Share % Var. % Var. Airports/Groups (2) Total 2018 Europe (excl. Spain) 2018 (M) (%) (%) Domestic International 1.3% 1.2% 0.4% A.S. Madrid-Barajas 57.9 8.4% 21.9% 7.4% 8.8% 2.3% Barcelona - El Prat 50.2 6.1% 19.0% 5.7% 6.2% 2.9% Rest of Palma de Mallorca 29.1 4.0% 11.0% 9.9% 2.2% 27.3% Europe Canary Islands Group 45.3 2.8% 17.2% 15.5% -3.3% 31.2% Group I 66.2 6.0% 25.1% 11.2% 4.1% 61.3% 30.6% 18.4% Group II 13.6 6.5% 5.2% 8.9% 3.1% Group III 1.5 18.2% 0.6% 14.7% 73.4% 5.4% 9.5% TOTAL 263.8 5.8% 100.0% 10.0% 4.1% 8.2% Europe (excl. Spain Latin America/ Spain Caribbean Africa North America (USA, (1) Total passengers in the Spanish airport network. Canada and Mexico) Middle East (2) Group I: Alicante-Elche, Bilbao, Girona, Ibiza, Málaga-Costa del Sol, Menorca, Seville and Valencia. Group II: A Coruña, Almería, Asturias, FGL Granada-Jaén, Jerez de la Frontera, Murcia-San Javier, Asia Pacific Reus, Santiago, SB-Santander, Vigo and Zaragoza. Group III: Albacete, Algeciras-Heliport, Badajoz, Burgos, Ceuta-Heliport, Córdoba, Huesca-Pirineos, Logroño, Madrid-Cuatro Vientos, Melilla, Pamplona, Sabadell, Salamanca, San Sebastián, Son Bonet, 6 Valladolid and Vitoria.
2018 results presentation II. Performance by business lines Airports 2018 Aeronautical Commercial Real estate services International 1.6% 5.5% Total 26.9% revenue 66.0% €4,320.2 M +7.3% €238.1 M €2,852.8 M €1,162.4 M €69.0 M (+10.5%) (+6.0%) (+9.6%) (+12.9%) 2.0% 8.6% Total 13.2% operating 76.3% expenses €2,470.0 M +6.9% €211.3 M €1,885.0 M €326.8 M €48.9 M (+7.9%) (+6.2%) (+11.0%) (+3.9%) 3.1% 1.4% 35.5% EBITDA 60.0% €2,656.6 M +5.5% €1,594.8 M €942.9 M €36.7 M €82.2 M (+3.0%) (+8.0%) (+20.3%) (+27.3%) EBITDA EBITDA EBITDA EBITDA EBITDA margin margin margin margin margin 61.5% 55.9% 81.1% 53.2% 34.5% 7
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