Latest news with #TAVAirports
Yahoo
01-08-2025
- Business
- Yahoo
Aeroports de Paris SA (AEOXF) (H1 2025) Earnings Call Highlights: Strong Revenue Growth Amid FX ...
Release Date: July 31, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Revenue increased by nearly 10% to 3.2 billion, demonstrating strong operational performance. Traffic growth was observed with a 4.5% increase in Paris and 3.9% at TAV airports. Strategic progress was made with industrial projects in Paris, particularly at Charles de Gaulle Airport. A new partnership with Air France, Connect France, was launched to reinforce CDG's position as a global hub. The company confirmed its 2025 financial outlook, maintaining a positive long-term trajectory. Negative Points Net income was significantly impacted by non-cash FX effects amounting to 104 million and a temporary increase in taxation in France. There was a slowdown in luxury retail sales due to currency appreciation against the US and Chinese currencies. The net debt to recurring EBITDA ratio remains high at 4 times, despite slight improvement. Traffic at Turkish airports evolved at a more moderate pace, affected by geopolitical tensions. The company faces challenges from non-European hubs benefiting from favorable tax and regulatory environments. Q & A Highlights Warning! GuruFocus has detected 5 Warning Sign with AEOXF. Q: Could you provide a ballpark expectation for the regulated return this year, and does it include the excess corporate tax rate? Also, any preliminary conclusions on CapEx limits in Paris? A: We don't disclose our regulated return strategy currently. We aim for convergence between regulated and actual returns in the next economic regulation agreement. Regarding CapEx, we anticipate higher investments but haven't finalized the sequence. The 60% dividend payout ratio is manageable and confirmed for 2026, but it's too early to comment beyond that. Our focus is on stabilizing the long-term economic balance and creating value for stakeholders. - Philippe Pascal, Chairman and CEO Q: Can you explain the 164 million swing in net income and what to expect for H2, particularly in depreciation? Also, does the 3 DPS floor indicate where dividends will land this year? A: The 164 million swing is mainly due to non-cash FX impacts and increased depreciation from past investments. We expect continued volatility in FX rates, affecting net income. The 3 DPS floor is set to ensure stable dividends despite FX volatility, but predicting exact figures is challenging. - Cristel de Rovi, CFO Q: What are you seeing in terms of spend per passenger in Paris retail, and can you provide details on the percentage of total spend by US and Chinese passengers? A: Spend per passenger is in line with guidance, with strong performance in North America and Africa. US passengers account for 13% and Chinese passengers for 10% of total spend. We continue to optimize commercial spaces and enhance digitalization to improve performance. - Philippe Pascal, Chairman and CEO Q: Can you discuss the performance and future prospects of your new acquisitions, PS and PEG, and your confidence in Antalya's value creation? A: PS and PEG align with our strategy to enhance luxury services and retail performance. We aim to create a unique global product and leverage high-contributing passengers. Antalya's fundamentals remain strong despite FX impacts, and we are confident in its long-term value creation. - Philippe Pascal, Chairman and CEO Q: How confident are you in the timeline for the economic regulation agreement, and will your CapEx plan increase airport capacity in Paris? A: We are confident in the timeline due to alignment with stakeholders on traffic forecasts and industrial plans. Our CapEx plan focuses on optimizing current infrastructure and developing capacity as needed, ensuring value creation and revenue growth. - Philippe Pascal, Chairman and CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Zawya
22-04-2025
- Business
- Zawya
Kuwait cancels operation, maintenance tender for airport terminal 2
Kuwait Civil Aviation Authority has cancelled the operation and maintenance tender for Kuwait International Airport Terminal 2, TAV Airports has said. The company had submitted a bid on 23 June 2024, the Turkish airport operator and service company said. In November 2023, the Arabic language daily Alqabas reported that Kuwait had allocated nearly 886 million Kuwaiti dinars ($2.9 billion) for 20 large projects, including airport expansions, for fiscal 2023-2024. The 20 projects include Kuwait's airport expansion at a cost of around KWD158 million ($522 million), of which around 19 percent has been spent, the report said. (Writing by P Deol; Editing by Anoop Menon) (
