Airports Company South Africa (Acsa) has declared dividends to the tune of R816 million comprised of R768m for preference shares and R48m for ordinary shares, marking a significant milestone in the company’s recovery and financial journey.
Acsa yesterday said this achievement placed it among the select few state-owned companies in South Africa that have successfully paid dividends to shareholders, underscoring its robust financial health and strategic management.
“Declaring dividends to our investors is a testament to Acsa’s strong financial performance and our dedication to creating sustainable value. As one of the few State-owned companies to achieve this milestone, we are setting a benchmark for excellence and financial stewardship of state funds,” Acsa said.
“The 2023/24 financial year saw Acsa achieve notable growth in both aeronautical and non-aeronautical revenue streams. The company’s strategic focus on diversifying income sources, enhancing operational efficiency, and investing in infrastructure improvements has paid off, resulting in a solid financial position and the ability to reward investors.”
Last week, Acsa announced that it had reversed its loss-making position in the 2023/24 year to March and anticipated passenger travel through its airports to return to 2019 levels in the current fiscal year.
Acsa reported an 88% recovery level in passengers compared with a global average of 92%. Some 18 million people departed from South Africa’s airports in the reported year, while 228 aircraft landed, a 92% recovery rate.
During the 2023/24 financial year, cash and cash equivalents, excluding short-term investments, increased by R668m to R2.8 billion by 31 March 2024.
This was largely due to cash inflows of R3.6bn generated from aeronautical operations and R272m derived from interest income.
Revenue gained 16% to R7bn, while Acsa reported a profit of R472m, a 201% increase on last year’s loss of R466m.
Looking ahead, Acsa said it remained committed to maintaining its trajectory of growth and financial stability.
The company will continue to explore new opportunities, invest in innovative solutions, and uphold high standards of service to ensure sustained success and value creation for all stakeholders.
BUSINESS REPORT