Bankinter | The State budgets include estimates for the results of the big state-owned companies. One of them is Aena, for which the NAP forecast is for 380 million euros in 2022 and 650 million in 2023.
Bankinter analyst team’s opinion:
Bad news. The estimates for 2023 are below our own for NAP of 787 million euros. It’s probably a conservative figure, but once again it shows the company’s vulnerability in the face of high inflation. Tariffs will not increase at least until 2026, while inflation will bring a significant rise in costs. We maintain our Neutral stance.
