2019 Results Presentation 2019 full year results 26 February 2020 | |
2019 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 2019, 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 financial results for 2019; 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
2019 Results presentation Contents I. Key highlights II. Business trends III. Financial results IV.Airport Group of Northeastern Brazil (ANB) V. 2020 forecasts VI. Appendices 3
2019 Results presentation I. Key highlights Total revenue (€M): +4.2% Passengers (1) (M): +4.6% +8.6% 4,503.3 Luton 293.2 4,320.2 280.3 18,0 16,6 +4.4% Spanish Network 275,2 263,8 2018 2019 2018 2019 Spanish Network Luton EBITDA (2) (€M): +4.1% Net profit (€M): +8.6% Operating Cash Flow (€M): +8,6% EBITDA Net Financial 2.5x 2.3x 1,442.0 61.5% 61.4% margin Debt/EBITDA (3) 1,327.9 FY 2018 FY 2019 2,766.2 2,114.3 2,656.6 1,947.7 2018 2019 2018 2019 2018 2019 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 €7.58 per share (4) out of 2019 profit. This dividend, which implies distributing 80% of the net profit, representing a 9.4% growth. Aena has revised upwards the traffic estimate for 2020, estimating an increase in passenger volume in Spain's airport network of +1.9% (5) . In relation to the airport charges applicable from 1 March 2020, the Board of Directors of Aena S.M.E., S.A. approved the adjusted annual maximum income per passenger (IMAAJ) for 2020 at €10.27 per passenger, which represents a decrease of -1.44% compared with the IMAAJ of 2019 (€10.42 per passenger), according to the CNMC criteria. (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) less Cash and cash equivalents. 4 (4) Calculated as: 80% of the Net profit of the issuer (Aena, SM.E. S.A.) in 2019. (5) Total passengers in the Spanish airport network.
2019 Results presentation Contents I. Key highlights II. Business trends III. Financial results IV.Airport Group of Northeastern Brazil (ANB) V. Outlook for 2020 VI. Appendices 5
2019 Results presentation II. Traffic data Passengers, aircraft movements and cargo Monthly evolution of passenger traffic (1) Passengers (M) Spanish Network 2019 2018 Variation Monthly change (%) 29.5 29.4 Passengers 275,237,801 263,754,357 +4.4% 28.4 28.3 27.3 27.1 30,0 26.2 25.7 24.6 18,0% 24.7 Operations 2,360,957 2,300,307 +2.6% 23.2 23.8 24.3 25,0 16,0% 21.6 Cargo (kg.) 1,068,394,637 1,012,063,745 +5.6% 20.0 19.1 18.3 14,0% 18.2 17.7 20,0 16.6 16.3 17.6 12,0% 15.5 15.3 7.3% 10,0% 15,0 Luton 2019 2018 Variation 8,0% 3.6% 3.7% 10,0 3.4% Passengers 17,999,969 16,581,850 +8.6% 6,0% 7.0% 6.4% 1.5% 5.9% 4,0% Operations 141,481 136,270 +3.8% 5,0 4.5% 4.0% 3.4% 3.4% 2,0% Cargo (kg.) 36,906,000 27,096,000 +36.2% 0,0 0,0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2018 2019 Growth in traffic Breakdown of passenger traffic (1) by markets Passenger traffic (1) by airports and groups of airports 2019 Passengers (1) Var. (%) Share % Var. % Var. Total 2019 Europe (excluding Spain) 2019 Airports/Groups (2) Domestic (3) International (3) (%) M 1,4% 1,3% 0,5% A.S. Madrid-Barajas 61.7 6.6% 22.4% 4.7% 7.3% 2,5% J.T. Barcelona - El Prat 52.7 5.0% 19.1% 4.2% 5.4% 3,0% Rest of Palma de Mallorca 29.7 2.2% 10.8% 6.7% 0.8% 27,2% Europe Canary Islands Group 45.0 -0.6% 16.4% 6.9% -4.9% 31,5% Group I 70.5 6.5% 25.6% 7.9% 6.0% 60,0% 17,6% 31,2% Group II 13.8 1.5% 5.0% 7.0% -6.8% Group III 1.8 17.0% 0.6% 18.7% 4.0% 5,3% TOTAL 275.2 4.4% 100.0% 6.4% 3.5% 9,8% 8,5% Europe (excluding Spain) (1) Total passengers in the Spanish airport network. Spain Latin America/ (2) Canary Islands Group: El Hierro, Fuerteventura, Gran Canaria, La Gomera, La Palma, Lanzarote-César Caribbean Africa Manrique, Tenerife Norte and Tenerife Sur. North America (USA, Group I: Alicante-Elche, Bilbao, Girona, Ibiza, Málaga-Costa del Sol, Menorca, Seville and Valencia. Middle East Canada and Mexico) Group II: A Coruña, Aerop. Int. Murcia Region, Almería, Asturias, FGL Granada-Jaén, Jerez de la Asia Pacific Frontera, Murcia-San Javier, Reus, Santiago, SB-Santander, Vigo and Zaragoza. Group III: Albacete, Algeciras-Heliport, Badajoz, Burgos, Ceuta-Heliport, Córdoba, Huesca-Pirineos, León, Logroño, Madrid-Cuatro Vientos, Melilla, Pamplona, Sabadell, Salamanca, San Sebastián, Son Bonet, Valladolid and Vitoria. 6 (3) Percentages calculated based on commercial traffic.
2019 Results presentation II. Performance by business lines (1) Airports 2019 Aeronautical Commercial Real estate services International 6,0% 1,8% Total 27,8% 64,4% revenue €4,503.3 M +4.2% €270.4 M €1,252.0 M €80.2 M €2,901.1 M (+13.6%) (+7.7%) (+16.3%) (+1.7%) 9,5% 2,6% Total 12,6% expenses 75,3% €2,526.0 M +2.3% €64.8 M €1,902.7 M €319.0 M €239.9 M (+32.5%) (+0.9%) (-2.4%) (+13.5%) 1,1% 3,6% EBITDA 37,3% €2,766.2 M 58,0% +4.1% €1,605.3 M €96.9 M €1,032.8 M €31.2 M (+0.7%) (+17.9%) (+9.5%) (-15.0%) EBITDA EBITDA EBITDA EBITDA EBITDA margin margin margin margin margin 61.4% 82.5% 38.9% 35.8% 55.3% 7 (1) Including Región de Murcia International Airport
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