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Investing.com -- Spanish airport operator Aena (BME:AENA) reported June traffic growth of 3.5% year-over-year, showing broad stability compared to the 3.3% growth recorded in May.
This performance came in slightly below planned capacity growth of 3.9% for the month.
Looking ahead, seat capacity for Spain is tracking at 3.9% growth for July and 3.5% for the third quarter, which aligns with the company’s fiscal year 2025 guidance of 3.4% growth.
Aena shares are currently trading at €23.38, with a price target of €21.40, representing potential downside of 8%. The company is trading at 10.9 times expected enterprise value to EBITDA for 2025.
The airport operator is positioned well heading into the second quarter and remains defensive compared to industry peers amid macroeconomic volatility.
The company is also preparing for upcoming DORA III negotiations, which will establish the regulatory framework for its operations.
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