Athens International Airport reports 15.7% rise in profit on record passenger numbers (updated)

Athens International Airport

24/02/2025 08:59

(Adds details about passenger traffic in paragraph 2, CEO quote
in paragraph 3, context in paragraphs 4-5, outlook in paragraph
6, dividend in paragraph 8)
       Feb 24 (Reuters) - Athens International Airport (AIA)
reported a 15.7% rise in its full-year adjusted core profit on
Monday, boosted by record levels of traffic that reached 31.9
million passengers. 
    Traffic surged 13.1% from 2023 levels, with double-digit
growth in most months, far exceeding historical long-term
averages, AIA said. 
        "Based on the strong traffic performance, we have
decided to accelerate the expansion of our facilities," Chief
Executive Yiannis Paraschis said in a statement, adding that the
airport aims to deliver capacity to serve 40 million passengers
per year by 2032. 
  
         Greece set a new record by collecting 21.7 billion
euros in revenues from tourism last year, breaking the previous
record of 20.6 billion euros in 2023, data from the country's
central bank, the Bank of Greece, showed. 
        Tourism is a key economic driver for Greece as it
accounts for more than a quarter of its economic output.
  
        For 2025 the airport sees passenger traffic growth at
mid-single digits and a single-digit growth in the long term.
  
    Greece's busiest airport's adjusted earnings before
interest, tax, depreciation and amortisation (EBITDA) came in at
424.8 million euros ($445.28 million) for the twelve months
ended December 31, up from 367.2 million reported in 2023. 
    It also said it will propose the distribution of 100% of net
profit of FY 2024, corresponding to a gross dividend of around
0.78 euros per share. 
    
($1 = 0.9540 euros)

 (Reporting by Antonis Pothitos; Editing by Louise Heavens)
 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))