Q1 2024 RESULTS
BOLOGNA, MAY 15TH 2024
HIGHLIGHTS
Q1 2024
FINANCIALS
2024 KEY UPDATES
GROUP HIGHLIGHTS
2 | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
3
EUROPEAN TRAFFIC TREND IN Q1 2024
Mar24 vs | YTD Mar24 vs | ||||
European Traffic | YTD | YTD | |||
trend | Mar23 | Mar19 | Mar23 | Mar19 | |
Total passengers | 10.2% | (1.5%) | 10.2% | (1.3%) | |
EU airports | 12.3% | (0.8%) | 11.2% | (1.1%) | |
EU+ airports | 11.5% | (1.4%) | 10.9% | (1.8%) | |
Non EU+ airports | 2.8% | (2.1%) | 6.5% | 2.0% | |
International pax | 11.7% | 2.7% | 11.5% | 2.6% | |
Domestic pax | 5.6% | (13.2%) | 6.3% | (11.8%) | |
Freight | 7.6% | (5.0%) | 10.9% | (3.7%) | |
Movements | 6.2% | (8.0%) | 6.4% | (9.1%) |
According to ACI Europe, traffic volumes show an increasing trend (+10.2% vs YTD Mar23) despite being affected by seasonal demand and winter flight schedules in the first months of the year. Thus, the recovery benefits from the resilient demand, but is still affected by the disruptions related to macroeconomic and geopolitical concerns.
The trend is led by international passengers, whom grew by 11.5% year-on-year, with a milder increase in domestic volumes (+6.3%). The gradual recovery is the result of most Asian/Pacific countries easing restrictions for external travel on the back of strong pent-updemand. The best performing markets in the EU+ area in Q1 2024 were Albania (+64%), Kazakhstan (+40%) and Uzbekistan (+39%). Worst performing were Israel (-55%), Russia (-16%) and Armenia (-2%).
Source: ACI Europe. | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
4
TRAFFIC TREND OF MAIN ITALIAN AIRPORTS IN Q1 2024
TRAFFIC IN ITALY: +12.4% vs Q1 2023
Italian airports recorded 40 million passengers in Q1 2024, an increase compared to 2023 (+4.4 million pax,
+12.4%), showing a fast pace increase led by international traffic (+16.8% vs Q1 2023), which is growing faster than domestic traffic (+4.5% vs Q1 2023).
Strong recovery in traffic volumes recorded by Rome Fiumicino, Milan Malpensa and Milan Linate.
In Q1 2024, Bologna is the eighth Italian airport with a market share of 4.9%.
Source: Assaeroporti, Aeroporti2030. | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
BLQ TRAFFIC PERFORMANCE IN Q1 2024
In Q1 2024 total passengers were 1,949,775, +8.1% vs 2023, with 15,789
movements (+5.9% vs 2023).
+8.1% vs Q1 2023
+7.6% vs Jan23 | +7.2% vs Feb23 | +9.4% vs Mar23 |
5 | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
HIGHLIGHTS
Q1 2024
FINANCIALS
2024 KEY UPDATES
Q1 2024
FINANCIALS
6 | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
Q1 2024 KEY HIGHLIGHTS:
EBITDA INCREASED BY MORE THAN 50% IN Q1 2024 VS Q1 2023
In Q1 2024 passengers increased by 8.1% vs 2023 and movements increased by 5.9% compared to 2023.
Low cost traffic shows an increase compared to 2023 (+4.6%), and legacy traffic shows a steeper recovery (+15.0%) thanks to both higher movements and load factor. The different trends resulted in a slight decrease of the low cost share from 65.6% in Q1 2023 to 63.5% in Q1 2024.
Q1 2024 revenues increased by 9.6% vs Q1 2023, thanks to all income items despite lower construction revenues. Adj. revenues (*) rose by 17.8% vs 2023.
Aeronautical revenues increased by 22.1% when compared to 2023 due to the traffic growth and lower incentive per passenger after contract renewal.
Non Aeronautical revenues increased by 12% vs 2023 due to a good performance of all sectors. In particular, good results were registered by food & beverage and duty free performance, by parking as a result of the review of commercial strategies, by premium services and by car rental, thanks to a higher presence of rental companies.
In Q1 2024 adj operating costs increased by 4.6% vs 2023 despite lower costs for consumables (i.e. de-icing liquid) and decreasing service costs (i.e. utilities, professional and consulting services, maintenance and security services), mainly due to higher personnel and rental costs.
Investments in infrastructure maintenance and development amounted to €6.2M.
7 | (*) Adjusted revenues do not include extraordinary items and revenues from construction services. | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
Q1 2024 KEY FIGURES
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
PASSENGER
TRAFFIC
ADJ REVENUES
ADJ EBITDA
1,949,775 PAX
1,803,185 PAX | +8.1% |
Q1 2023 | Q1 2024 |
€ 22.6 M | € 26.6 M |
+17.8% | |
Q1 2023 | Q1 2024 |
€ 8.9 M |
+57.4% |
€ 5.6 M |
NET RESULT
Q1 2023 | Q1 2024 | |
+203.1% | € 3.5 M | |
€ 1.2 M | ||
Q1 2023 | Q1 2024 |
8
AEROPORTO G. MARCONI DI BOLOGNA S.p.A.
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
9
Q1 2024 TRAFFIC INSIGHT
Q1 2024 | Q1 2023 | Var % 24/23 | |
Passengers | 1,949,775 | 1,803,185 | 8.1% |
ATM* | 15,789 | 14,916 | 5.9% |
MTOW | 1,111,944 | 1,033,939 | 7.5% |
Cargo | 13,457,459 | 13,413,206 | 0.3% |
PASSENGER BREAKDOWN BY CARRIER | AVIATION KEY METRICS | |||
129 | 131 | |||
0.4% | 0.4% | |||
65.6% | 63.5% | 73 | 74 | |
34.0% | 36.1% | 81.4% | 81.8% | ||||||||||||||||||||
Q1 2023 | Q1 2024 | Q1 2023 | Q1 2024 | ||||||||||||||||||||
Legacy | Low Cost | Other** | Seats Load Factor | Pax/Mov (#) | Avg. Take-Off Weight (tons) | ||||||||||||||||||
AEROPORTO G. MARCONI DI BOLOGNA S.p.A. | |||||||||||||||||||||||
* Air Traffic Movements | |||||||||||||||||||||||
** Other includes charter, general aviation and interlining |
HIGHLIGHTS
Q1 2024 FINANCIALS
2024 KEY UPDATES
Q1 2024 TOTAL REVENUES
EURO THOUSANDS | Q1 2024 | Q1 2023 | VAR % |
Q1 24/23 | |||
Aeronautical Revenues | 14,690 | 12,029 | 22.1% |
Non Aeronautical Revenues | 11,632 | 10,390 | 12.0% |
Revenues for Construction Services* | 3,992 | 5,337 | (25.2%) |
Other Revenues | 303 | 184 | 64.7% |
Revenues | 30,617 | 27,940 | 9.6% |
Revenues adj | 26,625 | 22,603 | 17.8% |
AERONAUTICAL REVENUES: increase compared to 2023 due to a positive effect of higher traffic volumes and lower incentive per passenger.
NON AERONAUTICAL REVENUES:
+12.0% vs 2023 due to a good performance of all sectors. In particular, good results were registered by food & beverage and duty free, by parking as a result of the review of commercial strategies, by premium services and by car rental, thanks to a higher presence of rental companies.
OTHER REVENUES: Q1 2024 results increased by 64.7% due to extraordinary items.
10 | * IFRIC 12 | AEROPORTO G. MARCONI DI BOLOGNA S.p.A. |
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Aeroporto Guglielmo Marconi di Bologna S.p.A. published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 14:27:05 UTC.