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International Airlines Group (IAG) closed the 2024 exercise with gains of 2,732 million euros, 2.9% more that the previous year, when he won 2,655 million. The company, which brings together airlines such as Iberia, British Airways, Vueling and Aer Lingus, achieved improve your profitability In a year marked by the recovery of demand and cost optimization, although it was weighed for extraordinary expenses.
Los Total income amounted to 32,100 million of euros, which represents an increase in 9% Regarding the 29,453 million obtained in 2023. The exploitation benefit grew by 22.1% to 4,283 million, compared to the 3,507 million of the previous year. This improvement occurred despite Impact of certain exceptional gameswhich included costs associated with the restructuring of employees in the Handling subsidiary in Iberia, which cost him 160 million euros; as well as the termination of the Air Europa purchase agreement, so it had to pay another 50 million to the Hidalgo.
KEYS OF THE RESULTS
- Net Record benefit: 2,732 million euros (+2.9% compared to 2023, when it earned 2,655 million)
- Operating benefit: It rises 22.1% to 4,283 million (3,507 million in 2023).
- Exploitation benefit Before exceptional: it rises by 26.7%, to 4,443 million (3,507 million in 2023)
- Income: 9% to 33,932 million grows (31,110 million in 2023)
- Passenger income: 9.5% to 28,274 million grows (25,810 million in 2023)
- Bills: 7.2% to 27,817 million grow (25,946 million in 2023)
- Financial debt: 18.7%falls to 7,517 million (9,245 million in 2023)
- Complementary dividend of 0.06 euros per share that adds to the ordinary of 0.03 euros per title
- Shares repurchase for 1,000 million
In terms of financial efficiency, IAG reinforced its liquidity positionreaching 13,362 million euros at the end of the year, a figure exceeding 11,624 million registered in 2023. Likewise, the Net debt of the group was reduced to 7,517 million euroscompared to 9,245 million of the previous year, which is an improvement in the net debt ratio/Ebitda before exceptional items, which stood at 1.1 times, reflecting a solid ability to disappoint.
With everything in his favor, the air group has agreed to pay a Complementary dividend of 0.06 euros By title, which will triple the value of the ordinary dividend, set at 0.03 euros last August, the first after the pandemic. In total, it will be located in 0.09 euros per sharewhich represents a total value of 435 million euros.
The group has announced a Actions repurchase program for a maximum amount of 1,000 million of euros to be implemented for the next 12 months, with which he will try to even raise the value of his shares and indirect compensation to his shareholders. The details about this coach will be published soon, once the current program ends this Friday, valued at 350 million and was announced in November.
Another of the highlights of IAG's results in 2024 was the exploitation margin before exceptional items, which passed 11.9% in 2023 to 13.8% In 2024. This advance was supported by a combination of factors, including the optimization of capacity, with greater efficiency in the allocation of routes and frequencies; a rigorous cost control, with special emphasis on the reduction of unit expenses; or a context of robust demand, with high occupancy levels in the main airlines of the group.
Capacity growth
Nivel Operative, IAG its capacity increased by 6.3% interannual, reaching 343,253 million seat-kilometer (AKO), compared to 323,111 million 2023. The increase in the offer was accompanied by a Improvement in passenger income-Kilometer transported (PKT), which grew by 3.1%, to 8.24 cents per kilometer.
In terms of cost efficiency, the group managed to reduce its unit costs by 2.6% excluding fuel, up to 5.84 cents per AKO, reflecting the synergies obtained through spending optimization programs.
A fourth solid trimester
The results of the last quarter of the year confirm the strength of IAG financial performance in 2024. Between October and December, the group generated some Income of 8,047 million euroswith a growth of 11.4% compared to the same period of 2023.
He Quarterly Exploitation benefit amounted to 961 millionwhich represents an increase of 91.4 % compared to the 502 million of the fourth quarter of the previous year. At the net level, the result was 392 million, 22.2 % below 504 million 2023, due to tax factors and the accounting of extraordinary items.
The capacity in the last quarter was 84,320 million AKO, 4.3 % more than in the same 2023 period, with unit costs excluding the fuel of 6.15 cents per AKO, which represents a slight reduction of 4.8 %.
Perspectives for 2025
Facing 2025, IAG plans to continue with its profitable growth strategy, supported by the optimization of its route network and cost containment. The company will also continue advancing in the Modernization of your fleetwith the incorporation of more efficient aircraft in fuel consumption and with lower emissions.
Among the challenges of the next year, the company must manage the impact of macroeconomic factors such as the evolution of fuel prices and volatility in financial markets. Likewise, competition in the sector is expected to remain intense, with low -cost airlines and traditional operators reinforcing their positions on strategic routes.