Q1 2026 Aena SME SA Earnings Call Transcript
Key Points
- Traffic increased by 3.8% year on year, reaching 81.3 million passengers, with the Spanish network seeing a 3.2% rise.
- Total revenues for Q1 2026 amounted to EUR 1,479.9 million, an increase of EUR 154.3 million.
- EBITDA reached EUR 661 million, increasing by EUR 17.4 million, with a reported EBITDA margin of 44.7%.
- International revenues increased by 57.7%, largely driven by construction revenues recognized under IFRIC 12.
- Net profit after taxes was approximately EUR 330 million, marking a 9.3% increase year on year.
- Operating expenses increased by 17.8%, totaling EUR 850 million, with a significant rise in staff costs by 12.4%.
- Domestic traffic within the Spanish network declined by 1.4% year on year.
- Ryanair reduced passenger volumes by 3.4% year on year, impacting market share.
- The EBITDA margin slightly decreased when extraordinary items were removed, indicating a flattening trend.
- Concerns were raised about potential kerosene shortages and the impact of higher kerosene prices on future operations.
Hello, everyone, and thank you for joining us today for the Aena Q1 2026 results presentation. My name is Sami and I'll be coordinating your call today. (Operator Instructions). I'll now hand over to your host, Carlos, Head of IR, to begin. Please go ahead, Carlos.
Good afternoon, everyone, and welcome to our Q1 2026 results presentation. This is Carlos Gallego speaking, Head of IR. It's a pleasure to be with you today. Our CFO, Ignacio Castejon, will host the call together with me. We are going to cover some of the main topics explained in the results presentation that is already available in the CNMV website, and we'll finish with a Q&A session. (Operator Instructions). Without further ado, I give the floor to Ignacio Castejon. Thank you.
Thank you very much, Carlos. Hello, everyone. Good afternoon, and thank you for joining us today with our Q1 2026 results presentation. I will start
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