Athens International Airport S.A. (AIA) Earnings Call Transcripts

Athens International Airport S.A.'s Latest Earnings Call - March 26, 2026

Athens International Airport (AIA:GR) reported its fiscal year 2025 results, highlighting a 6.7% increase in passenger traffic to 34 million, driven by an 8.6% rise in international traffic. Revenue grew by 1.5% to EUR 675.6 million, in line with expectations, while adjusted EBITDA reached EUR 394.5 million. The company maintained its dividend policy, proposing a EUR 0.66 per share distribution. Management provided guidance for low single-digit passenger growth in 2026, with flat yield per passenger in Air Activities and some pressure on EBITDA margins due to intensified construction activity.

Reported metrics

Guidance from management

Management expects low single-digit passenger growth for 2026, with flat yield per passenger in Air Activities and an EBITDA margin 100 basis points below the long-term target of 60%. Net income is projected at approximately EUR 200 million.

What management said

Yes. As regards the inflation, as you, of course, correctly said, this is taken into account in the Air Activities segment in the inflation of the Air Activities Capital. So the return is on the inflated equity. And then on the Non-Air Activities, the terminal retail sales are adjusted, of course, you can imagine, according to inflation. Prices are adjusted. Our minimum annual guarantees are also taking into account ...

As regards to the first one, just as a reminder, at this point of time, we have the total estimate of EUR 1.3 billion at 2024 prices for the entire expansion. What we have spent in 2025 was less than EUR 100 million. We say, we keep the guidance of 50% until 2028, and we will have more visibility following the award of the terminal expansion in the second half of the year. So unfortunately, at this point of time, I c...

What analysts pressed on

Analysts expressed concerns about the impact of inflation on Non-Air Activities and the potential effects of geopolitical tensions on Middle East traffic. Questions also focused on the timing and impact of the airport expansion program on Non-Air revenue growth.

Main topics on the call

• Passenger Traffic Growth — Passenger traffic grew by 6.7% in 2025, reaching a record 34 million, with international traffic increasing by 8.6%. Management noted, 'Athens outperformed most of its direct peer group and the wider European airport mar...
• Revenue and Profitability — Total revenue rose by 1.5% to EUR 675.6 million, with Non-Air Activities revenue increasing by 6.5%. Adjusted EBITDA was EUR 394.5 million, reflecting a margin of 58.5%.
• Dividend Proposal — A gross dividend of EUR 0.66 per share was proposed, supported by a strong shareholder participation in the Scrip Dividend Program, which generated EUR 85 million.
• Airport Expansion Program — The EUR 1.3 billion expansion program is progressing, with significant projects like the VIP Terminal and Apron expected to complete by 2027. 'Capital deployment is phased with about 50% of the CapEx expected by 2028.'

Read the full Athens International Airport S.A. transcript (March 26, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 21 Athens International Airport S.A. earnings call transcripts on record, spanning February 19, 2020 to March 26, 2026. Based on this history, Athens International Airport S.A. reports quarterly. The most recent call on file is dated March 26, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AIA

Exchange

ATSE

Country

GR

Sector

Industrials

Industry

Transportation Infrastructure

Calls on record

21

First call

February 19, 2020

Most recent

March 26, 2026

Reporting cadence

quarterly