Aena expects to earn 2,136.7 million in 2025, a 10.5% increase.
The airport operator expects passenger volume to grow by 1.3% in Spain
BarcelonaSpanish airport operator Aena closed 2025 with a net profit of €2,136.7 million, 10.5% higher than the previous year's €1,934.2 million. According to a company statement, it recorded revenues of €6,379.2 million (+9.5%) and gross operating profit of €3,785 million (+7.8%), with a margin of 59.3%. Ahead of its shareholders' meeting on April 16, and as a result of its policy of 80% pay-out [the percentage of profit that is distributed to shareholders in the form of dividends], Aena will propose distributing a gross dividend of €1.09 per share from the 2025 financial year results, representing an 11.7% increase compared to 2024. Passenger traffic across all airports of the group chaired by Mauricio Lucena Brasil climbed this year to 384.8 million, a 4.2% increase. In the Spanish network (comprising 46 airports and two heliports), volume rose by 3.9% to 321.6 million passengers. Looking ahead to 2026, the company forecasts that total passengers at Spanish airports will grow by 1.3% to 326 million.
By business line, aeronautical revenues reached €3,346.8 million, 4.9% higher than in 2024. Commercial revenues, on the other hand, grew to €1,975.1 million, an increase of 11%, while total sales... In the real estate area, revenues increased by 10.5%, driven by air cargo (+9%) and other assets (+35.5%). Regarding the financial situation, consolidated net financial debt stood at €5,509 million, virtually unchanged compared to 2024. The net debt to EBITDA ratio decreased to 1.46 times, from 1.57 the previous year, while cash flow...
International Activity
At the end of 2025, Aena secured the largest financing deal in Brazil's airport sector: 5.7 billion Brazilian reais to modernize 11 airports. Furthermore, on December 18, 2025, its subsidiary Aena Desarrollo Internacional (ADI) finalized an agreement to acquire 51% of a new holding company that owns and manages 100% of Leeds Bradford Airport and 49% of Newcastle Airport.
Also in 2025 Aena Internacional recorded receipts amounting to 395.3 million euros from the partial repayment of the loan granted to BOAB in 2023, and from dividends, fees, and interest on loans from the companies in which it participates.
