The airport expects a 15.22% decline in net profits this year, dropping from €235.9 million to €200 million, with earnings projected to remain at the same level in 2026.
The increase in Capex is driven by an accelerated investment program aimed at expanding AIA’s annual passenger capacity to 40 million by 2032, a target that was initially set for the mid-2030s.
To support this expansion, the airport plans to invest approximately €650 million by 2028, increasing capacity from 26 million to 33 million passengers per year. By 2032, total investments will reach €1.28 billion, ensuring the further expansion to 40 million passengers.
This marks a significant escalation in the airport’s investment plans, effectively doubling the original program, with an additional €630 million allocated over four years.
Looking beyond 2032, further expansion to accommodate 50 million passengers annually will require additional investments estimated to exceed €700 million. To help fund these ambitious projects, AIA’s Board of Directors has decided to propose a four-year optional dividend reinvestment program at the Annual General Meeting scheduled for April 14, 2025.
The initiative will allow eligible shareholders to reinvest part of their dividends into new shares through a Scrip Dividend program, with the total reinvestment amount reaching up to €240 million.
For 2025, based on the 2024 financial results, shareholders will have the option to reinvest up to €100 million, while the remaining €135.9 million in net profits will be distributed in cash dividends.
During the investor call, Paraschis revealed that AIA’s major shareholders, including AviAlliance and Greece’s sovereign wealth fund, the Hellenic Corporation of Assets and Participations (HCAP), have already expressed their support for the Scrip Dividend proposal. Their backing suggests that the initiative is likely to be approved at the upcoming general meeting.
