Corporation American Airports (CAAP) has reported a net income (attributable to owners of the parent) was up 42.4% in 2023 to $239.5 million; along with a strong operating income at $540.6 million, up 77.5%. Revenue for the year was held at a stable 1.6% increase from the year prior at $1.4bn. Its full year EPS was at $1.49 per share.
Passenger traffic was up 23.7% from 65.6 million passengers to 81.1 million, which reached 96.4% of 2019 levels.
Its 2023 fourth quarter results saw a sharp rise in its net income at $130.7 million, up from $12.1 million year-on-year (YOY). Its operating income more than trebled from $86.4 million in the fourth quarter of 2022 to $263.6 million in the fourth quarter of 2023. Additionally, its earnings per share were up from eight cents per share in 2022's fourth quarter to 81 cents per share. Its fourth quarter revenue was down slightly at 5.5% to $365 million.
Fourth quarter passenger traffic numbers were up 13.1% YOY to 20.7 million, reaching 99.1% of 2019's fourth quarter numbers.
CAAP CEO Martin Eurnekian said: ""This good performance was underscored by strong momentum across all geographies and reflects our commitment to efficient execution and our ability to leverage the ongoing recovery in travel demand.""
He added: ""We remain focused on the approval processes in Italy and Armenia in connection with significant expansion projects in our airports in Firenze and Yerevan, respectively, which will foster growth and create value for our stakeholders."" CAAP is looking to invest around €400 million ($436.4 million) into its expansion projects.
Full year cargo volume increased 7.9% to 370,200 tonnes, reaching 87.2% of 2019 levels. Fourth quarter cargo volume increased 9.9% to 101,600 tonnes, reaching 88.6% of 2019's fourth quarter levels.
CAAP net income up 40% in 2023
