Athens International Airport: A landmark in 2023 – Main priority is the implementation of the 33MAP spatial planning plan

A landmark was last year for Athens International Airport (), as it recorded a historical record of passenger traffic combined with a strong recovery in all economic indicators. The management of the AIA presented today (6.3.2024) its economic and business performance for 2023, first announcement of financial results after the Company’s successful admission to the Athens Stock Exchange about a month ago. Regarding passenger traffic and air activities, Ioannis Paraschis, CEO (CEO) of AIA reported that: “In 2023, Athens International Airport traffic reached 28.17 million passengers, scoring a new historical record, surpassing by 10.2% the 2019 levels and 24% the 2022 levels, while European airports’ recovery levels compared to 2019 are still 5 percentage points short on average”. 85% of passengers during 2023 traveled for leisure reasons and 15% for business reasons. The journey for leisure reasons proved after the pandemic, the most durable part of movement in relation to the business trip. Accordingly, 69% of passenger traffic at Athens International Airport in 2023 involved traffic from/to international destinations and 31% domestic traffic. Athens International Airport served in 2023 about 38% of Greece’s total passenger traffic. In 2023, Athens airport was connected with direct scheduled routes with 156 destinations-towns (in 57 countries) served by 66 airlines, while 18 new routes were added. Aircraft movements amounted to 241.605, 13.2% above 2022 and 7.1% above 2019 levels. Passenger traffic allowed AIA to achieve strong growth rates, especially in Europe and the US markets, for which AIA was recognised at the “ROUTES EUROPE 2023” Awards as the top airport in Europe in the category of airports with an annual traffic of over 20 million passengers. As regards non-air activities, on 31 December 2023, the airport had a total of 155 stores, covering more than 13,500 sq.m. within the two airports. As a result of the increase in passenger traffic and the upgrading of the commercial supply of the terminals through the successful strategy “Best of Greece”, with which Greek concepts/brands were introduced with a significant presence in Greece, as well as the positive progress of revenues in car parking and real estate development services, non-air revenues in 2023 amounted to EUR 134.8 million, increasing by 23.2% compared to 2022. For the financial performance of 2023, AIA officials stressed that: Total revenues increased by EUR 126,8 million or 26.6% to EUR 603.7 million in 2023, with air and non-air revenue flows showing significant improvement, mainly due to the increase in passenger traffic by 24% compared to 2022, as well as the dynamic development of revenues from commercial activities. Revenue from air activities amounted to 448.9 million euros, with an increase of 22,2% over the previous year and revenues per passenger of 15,9 euros, while air charges prices remained stable in 2023. The revenues and other revenues from non-air activities amounted to EUR 134,8 million, with an increase of 23,2% compared to 2022 while revenues per passenger of EUR 4.8 were increased by 17,1% compared to 2019, significantly higher than the corresponding increase in passenger traffic. Profit before tax in 2023 amounted to EUR 288.8 million compared to EUR 213.2 million in 2022. Profit after tax in 2023 was 231.5m euros, higher by 63.5m euros than in the previous year. The Company’s Board of Directors intends to propose to the next General Meeting of Shareholders, the distribution of a remaining gross dividend of 0.33 euros per share for the use of 2023. Presenting the development prospects of AIA, the company’s management noted: High levels of passenger traffic were recorded during the first 2 months of 2024 compared to the corresponding period 2023. The main priority of AIA is the implementation of the 33MAP (33 million passengers per year) spatial planning plan, with the aim of increasing the capacity of its facilities. Until the implementation of the 33MAP operational measures and capacity maximisation projects will be implemented. The preparation for the financing of the 33MAP project and other medium-term capital costs for maintaining and optimising capacity is ongoing. In the context of maximising commercial development, the possibility of introducing new concepts into commercial concessions and the field of real estate development is explored. Strengthen human resources and other operational resources to serve high levels of traffic, to ensure the quality of the services provided. Maintaining high profitability and healthy profitability margins (adjusted EBITDA>60%). Start construction of a 35.5MW photovoltaic power park, which will include an 82MWh energy storage system, to achieve the Net Zero target for direct and indirect gas emissions 2 through 2025. SOURCE: RES-BE