
Aena SME S.A. ADR (ANYYY) Q4 2025 Earnings Call Transcript
Aena SME S.A. ADR (ANYYY) Q4 2025 Earnings Call Transcript
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Aena SME S.A. ADR (ANYYY) Q4 2025 Earnings Call Transcript

Aena S.M.E., S.A. (OTC: ANYYY - Get Free Report) was up 0.9% during trading on Thursday. The stock traded as high as $16.15 and last traded at $16.04. Approximately 43,443 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 35,077 shares. The stock had previously closed at $15.89.

Aena S.M.E., S.A. (OTC: ANYYY - Get Free Report)'s share price dropped 0.4% during mid-day trading on Friday. The stock traded as low as $13.4740 and last traded at $13.58. Approximately 18,970 shares changed hands during trading, a decline of 71% from the average daily volume of 65,338 shares. The stock had previously closed at

Aena S.M.E., S.A. (OTC: ANYYY - Get Free Report)'s stock price was down 0.4% during trading on Wednesday. The company traded as low as $13.50 and last traded at $13.63. Approximately 140,344 shares traded hands during trading, an increase of 116% from the average daily volume of 65,018 shares. The stock had previously closed at

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.

Citi downgraded Aena to Neutral from Buy with a price target of EUR 210, down from EUR 220. The firm cites concerns of traffic growth and flat tariffs for the downgrade. It believes European airports with tariff and regulatory stability will outperform in 2025 as Citi expects traffic growth will start to moderate.

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.

Share price increased by over 26% since Q2 earnings, driven by strong fundamentals, despite headwinds like increased operational expenses and the Barcelona-El Prat airport expansion suspension. Operating expenses increased 6% YoY due to inflation, with significant increases in staff costs, mobility services, and maintenance, alongside €462 million in capex. Despite headwinds, Aena achieved a 17.7% revenue growth and a 33.1% net income increase in H1 2024, with a reduced net debt/EBITDA ratio and strong EBITDA margins.

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 owns all major airports in Spain, benefiting from the country's booming tourism industry, with additional concessions in Brazil and a small stake in Grupo Aeroportuario del Pacifico. Aena has seen significant revenue growth, recovering from pre-pandemic levels, and increasing non-regulated income from airport retail and services. The company is expanding its international presence, while maintaining low operational costs and leading in sustainability efforts.

Growth stocks are some of the best bets you can make in the market due to the momentum in their business. Growth showcases strong demand and execution, and the market will happily slap a higher and higher premium for this growth as long as it is there.

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 passenger traffic through its Spanish airports in 2023 rebounded to 102.9% of 2019 levels. Management expects passenger traffic through its Spanish airports to rise further in 2024, 2025, and 2026. I rate Aena as a 'Buy' and I would hold it as 'equal weight' in a diversified portfolio given the expected passenger traffic growth and forward PE ratio of 13.99 for 2024.