Aena SME, S.A. (ANNSF)
OTC PINK OTC PINK Primary Summary
Aena: Europe's Gateway To Long-Term Air Travel Growth
Aena remains a compelling investment, benefiting from Spain's booming tourism and near-monopoly on airport infrastructure, driving strong organic growth and steady dividends. Solid H1 2025 results highlight 9.1% revenue growth with attractive operating margins and robust passenger/cargo traffic, while commercial operations are delivering high-margin upside. A major €7 billion CAPEX cycle will expand the airport capacity by up to 18% by 2031, supporting long-term passenger and earnings growth, especially after fee hikes just got approved.
Aena Stock: A Spanish And Brazilian Airport Operator To Buy
Aena's 2024 revenues grew 13.3% to €5.83 billion, driven by 8.5% passenger traffic growth and double-digit growth in all business segments. EBITDA margins expanded to 60.2%, with total EBITDA growing 16.1% to €3.5 billion, indicating strong operational efficiency. Despite macroeconomic and geopolitical risks, Aena's geographical diversification and continued air travel demand present significant growth opportunities.
Can Aena Stock Continue To Outperform?
I'm maintaining a buy rating for Aena with an increased FY2024 price target of $256.76, representing 15% upside. Aena's strong first half results and expected third quarter growth are driven by higher passenger volumes and increased revenue per passenger. Risks include macroeconomic changes, airline bankruptcies, and regional pressures, while opportunities lie in continued air travel demand and improved commercial revenues.
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Aena SME, S.A. Profile
| Passenger Airlines Industry | Industrials Sector | Mr. Maurici Lucena Betriu CEO | OTC PINK Exchange | ES0105046009 ISIN |
| ES Country | 9,511 Employees | 23 Apr 2025 Last Dividend | 20 Jun 2025 Last Split | - IPO Date |
Overview
Aena S.M.E., S.A., alongside its subsidiaries, plays a critical role in the operation, maintenance, management, and administration of airport infrastructures and heliports. Its operational footprint spans Spain, Brazil, the United Kingdom, Mexico, and Colombia, positioning it as a significant entity in the global aviation industry. The company’s activities are segmented into four main categories: Airports, Real Estate Services, International, and SCAIRM. Originally known as Aena, S.A., the company underwent a rebranding to Aena S.M.E., S.A. in April 2017, underlining its evolution and expanded scope of services. Founded in 2010 and headquartered in Madrid, Spain, Aena S.M.E., S.A. operates as a subsidiary of Entidad Pública Empresarial ENAIRE, highlighting its strategic alignment with Spain's national air navigation services provider.
Products and Services
- Airport Operations
- Real Estate Services
- Commercial Leasing
- Parking Management
This core service involves the comprehensive management and operation of airport facilities, ensuring smooth, efficient, and secure operations for passengers, airlines, and other stakeholders. Aena S.M.E., S.A. extends beyond basic airport operations to include meticulous maintenance and administrative services that contribute to the overall functionality and safety of airport infrastructures.
Under its real estate services, Aena S.M.E., S.A. leverages the vast spaces within and around airport terminals. The company engages in leasing activities for commercial spaces such as office buildings, warehouses, hangars, and cargo storage facilities. These are offered to a diverse clientele that includes airlines, air cargo operators, handling agents, and other airport service providers, facilitating a broad range of aviation-related activities.
Aena manages and leases areas within airport terminals for various commercial purposes. This includes duty-free shops, specialty shops, and food and beverage establishments. Furthermore, the company provides space for financial services, luggage wrapping services, vending machines, and more. This diversification into commercial operations and advertising underscores Aena's approach to maximising the commercial potential of airport terminals.
The company operates a comprehensive network of parking lots catering to the needs of travelers and visitors. By providing accessible and secure parking solutions, Aena S.M.E., S.A. enhances the overall airport experience, demonstrating its commitment to customer service and convenience.
Contact Information
