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Aena SME S.A. ADR (OTCPK:ANYYY) Q3 2025 Earnings Call October 29, 2025 8:00 AM EDT Company Participants Carlos Gallego Maurici Betriu - Chairman & CEO Ignacio Hernandez - Chief Financial Officer Conference Call Participants Cristian Nedelcu - UBS Investment Bank, Research Division Tobias Prohme Elodie Rall - JPMorgan Chase & Co, Research Division Nicolò Pessina - Mediobanca - Banca di credito finanziario S.p.A.
Spanish stocks have emerged as a standout performer in 2025, with the IBEX 35 index climbing nearly 30% year-to-date – outpacing major European and US benchmarks. The rally has been backed by robust economic growth, resilience corporate earnings, and favorable macroeconomic backdrop.
Aena SME S.A. ADR (OTCPK:ANYYY) Q2 2025 Earnings Conference Call July 30, 2025 7:00 AM ET Company Participants Carlos Gallego - Head, IR Ignacio Castejón Hernández - CFO Maurici Lucena Betriu - Chairman & CEO Conference Call Participants Andrew Lobbenberg - Barclays Bank PLC Cristian Nedelcu - UBS Investment Bank Dario Maglione - BNP Paribas Exane Elodie Yvonne Daniele Rall - JPMorgan Chase & Co Graham Hunt - Jefferies LLC José Manuel Arroyas - Banco Santander, S.A.
Aena remains a compelling investment, benefiting from Spain's booming tourism and near-monopoly on airport infrastructure, driving strong organic growth and steady dividends. Solid H1 2025 results highlight 9.1% revenue growth with attractive operating margins and robust passenger/cargo traffic, while commercial operations are delivering high-margin upside. A major €7 billion CAPEX cycle will expand the airport capacity by up to 18% by 2031, supporting long-term passenger and earnings growth, especially after fee hikes just got approved.
Aena S.M.E., S.A. (OTCPK:ANYYY) Q1 2025 Results Conference Call April 30, 2025 8:00 AM ET Company Participants Carlos Gallego - Head, Investor Relations Ignacio Castejon - Chief Financial Officer Maurici Lucena - Chairman and Chief Executive Officer Conference Call Participants Luis Prieto - Kepler Capital Cristian Nedelcu - UBS Graham Hunt - Jefferies Elodie Rall - JPMorgan Andrew Lobbenberg - Barclays Jose Arroyas - Santander Operator Ladies and gentlemen, thank you for standing by.
Aena's 2024 revenues grew 13.3% to €5.83 billion, driven by 8.5% passenger traffic growth and double-digit growth in all business segments. EBITDA margins expanded to 60.2%, with total EBITDA growing 16.1% to €3.5 billion, indicating strong operational efficiency. Despite macroeconomic and geopolitical risks, Aena's geographical diversification and continued air travel demand present significant growth opportunities.
Aena S.M.E., S.A. (OTCPK:ANYYY) Q4 2024 Earnings Call February 26, 2025 7:00 AM ET Company Participants Carlos Gallego - Head, Investor Relations Maurici Lucena - Chairman and Chief Executive Officer Ignacio Castejon - Chief Financial Officer Conference Call Participants Cristian Nedelcu - UBS Luis Prieto - Kepler Capital Elodie Rall - JPMorgan Andrew Lobbenberg - Barclays Dario Maglione - BNP Paribas Marcin Wojtal - Bank of America José Arroyas - Santander Carlos Gallego Good afternoon, everyone and welcome to our 2024 Results Presentation.
Aena S.M.E., S.A. (OTCPK:ANYYY) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET Company Participants Carlos Gallego - Head, Investor Relations Maurici Lucena - Chairman & Chief Executive Officer Ignacio Castejon - Chief Financial Officer Conference Call Participants Graham Hunt - Jefferies Elodie Rall - JPMorgan Chase & Co Sathish Sivakumar - Citigroup Inc. Andrew Lobbenberg - Barclays Marcin Wojtal - Bank of America Harishankar Ramamoorthy - Deutsche Bank Dario Maglione - BNP Paribas Exane Operator Thank you for standing by.
I'm maintaining a buy rating for Aena with an increased FY2024 price target of $256.76, representing 15% upside. Aena's strong first half results and expected third quarter growth are driven by higher passenger volumes and increased revenue per passenger. Risks include macroeconomic changes, airline bankruptcies, and regional pressures, while opportunities lie in continued air travel demand and improved commercial revenues.
Aena S.M.E., S.A. (OTCPK:ANYYY) Q2 2024 Earnings Conference Call July 31, 2024 7:00 AM ET Company Participants Carlos Gallego - Head, Investor Relations Maurici Lucena - Chairman & Chief Executive Officer Ignacio Castejón - Chief Financial Officer Conference Call Participants Cristian Nedelcu - UBS Graham Hunt - Jefferies Elodie Rall - JPMorgan Sathish Sivakumar - Citigroup Andrew Lobbenberg - Barclays Dario Maglione - BNP Paribas José Arroyas - Santander Fernando Lafuente - Alantra Victor Acitores - Bernstein Marcin Wojtal - Bank of America Nicolas Mora - Morgan Stanley Operator Thank you for standing by.
Aena S.M.E., S.A. (OTCPK:ANYYY) Q1 2024 Earnings Conference Call April 30, 2024 12:00 PM ET Company Participants Carlos Gallego - Head, Investor Relations Ignacio Castejon - Finance Director Operator Thank you for standing by.
Aena S.M.E., S.A.'s 9M 2023 results showed strong demand growth and value conversion, with traffic growing 17.4% year-over-year and revenues growing nearly 20%. The company's stock is difficult to value, but using the EV/EBITDA for the company median suggests a potential 19% upside with a $196.50 price target. Aena's portfolio, including the São Paulo-Congonhas airport, provides attractive opportunities for value creation, and the stock remains attractive for investment.
Aena S.M.E., S.A. (OTCPK:ANNSF) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET Company Participants Ignacio Hernandez - Finance Director Maurici Lucena - Chairman and Chief Executive Officer Conference Call Participants Elodie Rall - JPMorgan Nicolo Pessina - Mediabanca Aleksandra Arsova - Equita Sathish Sivakumar - Citigroup Christian Nedelcu - UBS Graham Hunt - Jefferies Marcin Wojtal - Bank of America Manish Beria - Societe Generale Dario Maglione - BNP Paribas Luis Prieto - Kepler Filipe Liete - CaixaBank Jose Arroyas - Santander Ignacio Hernandez Good afternoon, everybody, and welcome to our Nine Month Results Presentation for year 2023.
Aena S.M.E., S.A. manages 46 airports in Spain, including popular tourist destinations, and has international exposure in Brazil and the UK. Airports generate revenue through aeronautical and non-aeronautical sources, benefiting from increased flight schedules and passenger spending. Aena's H1 revenues increased by 24.1%, driven by traffic growth, and the company has various growth drivers and expansion plans, making its stock attractive with a 21% upside potential.
Aena S.M.E., S.A. (OTCPK:ANNSF) Q2 2023 Earnings Conference Call July 26, 2023 7:00 AM ET Corporate Participants Ignacio Castejón - Finance Director Maurici Lucena - Chairman and Chief Executive Officer Jose Leo - Chief Financial officer Conference Call Participants Cristian Nedelcu - UBS Group Elodie Rall - JPMorgan Luis Prieto - Kepler Sathish Babu Sivakumar - Citigroup Manish Beria - Societe Generale Marcin Wojtal - Bank of America Graham Hunt - Jefferies Johannes Braun - Stifel Atul Kumar - HSBC Andre Liebenberg - Barclays José Arroyas - Santander Operator Thank you for standing by.
Aena: Expect A 60% EPS Increase By 2026.
Aena S.M.E., S.A. (OTCPK:ANNSF) Q3 2022 Earnings Conference Call October 26, 2022 7:00 AM ET Company Participants Jose Leo - Chief Financial Officer Ignacio Castejón - Finance Director Conference Call Participants Nicolo Pessina - Mediobanca Cristian Nedelcu - UBS Luis Prieto - Kepler Stephanie D'Ath - RBC Elodie Rall - JPMorgan Sathish Sivakumar - Citi Johannes Braun - Stifel Dario Maglione - BNP Paribas Exane Achal Kumar - HSBC José Arroyas - Santander Jose Leo Good afternoon, everybody and welcome to this Third Quarter 2022 Results Presentation.
Spain's Aena on Thursday won the rights to operate the largest block of airports auctioned by Brazil's government for 2.45 billion reais ($471.61 million).
Aena S.M.E., S.A. (OTCPK:ANNSF) Q2 2022 Earnings Conference Call July 27, 2022 7:00 AM ET Company Participants Jose Leo - Chief Financial Officer Maurici Lucena - Chairman & Chief Executive Officer Conference Call Participants Cristian Nedelcu - UBS Nicolo Pessina - Mediobanca Elodie Rall - JPMorgan Luis Prieto - Kepler José Arroyas - Santander Bank Stephanie D'Ath - Bank of Capital Dario Maglione - BNP Paribas Exane Marcin Wojtal - Bank of America Andrew Lobbenberg - HSBC Nicolas Mora - Morgan Stanley Jose Leo Thank you very much and welcome to this call.
Aena S.M.E., S.A. (OTCPK:ANNSF) Q1 2022 Earnings Conference Call April 27, 2022 7:00 AM ET Company Participants Emilio Rotondo - Deputy Chief Financial Officer Jose Leo – Chief Financial Officer Conference Call Participants Cristian Nedelcu – UBS Nicolo Pessina – Mediobanca Siobhan Lynch – Deutsche Bank Luis Prieto – Kepler Elodie Rall – JPMorgan Johannes Braun – Stifel Sathish Sivakumar – Citigroup Marcin Wojtal – Bank of America Andrew Lobbenberg – HSBC Jose Arroyas – Santander Cristian Nedelcu – UBS Emilio Rotondo Good morning to everybody, and welcome to Aena's First Quarter 2022 Results.