Athens International Airport (AIA) Q3 2024 earnings summary

Executive summary

• Total revenues and other income rose 9.8% year-over-year to €509.0 million, driven by strong air travel demand and commercial activity.

• Passenger traffic reached 24.6 million, up 13.3% compared to the same period in 2023, with both domestic and international segments growing.

• Net profit increased by 3.4% to €195.1 million, reflecting robust operational performance.

Financial highlights

• Adjusted EBITDA grew 16.9% to €339.9 million, with a margin of 66.8%.

• Operating expenses increased 11.5% to €157.8 million, mainly due to higher variable Grant of Rights Fee and increased staffing costs.

• Profit before tax rose 6.7% to €252.2 million year-over-year.

Segment performance

• Air activities revenue increased 8.5% to €387.7 million, led by higher aeronautical charges and ADF income.

• Non-air activities revenue surged 14.2% to €121.3 million, driven by retail concessions and parking services.

• International passenger traffic outpaced domestic, up 16.0% versus 7.3% year-over-year.