Aena earned 20 less in 2014 for expropriations and deductions
Aena has closed the year 2014 with a net profit of 479 million euros, down 19.8% in 2013, from the impact of extraordinary; while the comparable net profit amounts to 595 million euros, 70.3% more with respect to 2013 which was 245 million euros. Revenue improved by 8% to 3,165 M €; as reported by this Friday the group to the National Commission for the securities market (CNMV).
Total revenues recorded by Aena in 2014 they increased to 3,165 million euros, representing an increase of 8% in 2013, of which 25.7% correspond to business revenue, both inside and outside the terminals. Has also increased 16.5% your Ebitda or gross operating profit â‚¬ 1,875 million.
Aena highlights that “measures carried out from 2012, both by way of expenses and income, have led to the consolidation of the restructuring of the company and strengthens their profitability, placing the Ebitda margin at 59%, which is among the highest in the sector, an improvement of 23 percentage points from 2011”.
Airport Manager on the other hand, requires that the comparison of earnings with the previous year (20% reduction) is affected, in particular by the provision of a provision corresponding to Adolfo Suarez Madrid-Barajas airport expropriation interest amounting to a net tax of 117 million) held in September 2014, and the fact that in the year 2013 included deductions for investment activated and applied of 246 million euros that reduced taxes by being the first year of entry into the profitability of the company.
Aena also highlights the increase of the generation of box (cash flow (2) ) which reaches 1.3 billion euros, up from 846 million in 2013.
“As a result of the improvement of results of Aena and its reflection in the cash generation has been possible reduction of net financial debt as defined for the purpose of financing contracts to 10.382 million euros compared to 11.332 million euros of 2014”.
Dental sense, the reduction of the debt passed to represent 5.6 times the gross operating in 2014, against 13.7 times of financial debt ratio – Ebitda in 2011.