Airports Company South Africa (ACSA) is positioning itself as a future-ready airports operator, announcing a R21.7 billion capital investment pipeline focused on digitisation, innovation and infrastructure modernisation over the next five years.
Unveiling its financial results for the year ended 31 March yesterday, ACSA reported a record net profit of R1.1 billion, more than double the R472 million achieved in 2023/24, alongside revenue growth of 13% to R7.9 billion.
Beyond the strong numbers is ACSA’s sharpened strategy to embed technology and innovation at the heart of its operations.
The state-owned company says flagship projects will roll out at OR Tambo International Airport, Cape Town International Airport and key regional hubs, with investments in biometric-enabled passenger journeys, predictive maintenance systems, and aviation research partnerships with the Council for Scientific and Industrial Research and The Innovation Hub.
According to the airports operator, these initiatives are designed to improve passenger flow, minimise service disruptions and enhance customer experience, while driving operational efficiency.
Meanwhile, ACSA’s revenue grew by 13% to R7.9 billion (2023/24: R7 billion), underpinned by strong performance across both aeronautical and non-aeronautical streams, with the latter now contributing 49% of total revenue.
Earnings before interest, tax, depreciation and amortisation rose to R2.9 billion, reflecting a margin of 37%, while net profit climbed to R1.1 billion, driven by disciplined cost management and strengthened internal controls, says the company.
It notes that capital expenditure rose to R861 million (2023/24: R568 million), reaffirming ACSA’s commitment to renewing and expanding airport infrastructure in support of operational excellence and long-term growth.
The company’s balance sheet remains strong, with total assets of R32 billion, a net debt-to-capitalisation ratio of 8%, and liquidity of R3.4 billion at year-end, ensuring substantial coverage for future investments.
In recognition of its strengthened financial position, the ACSA board has approved the payment of R198 million in accrued preference share dividends and declared R113 million in ordinary share dividends for 2024/25.
This marks an improvement from 2023/24, when total dividends amounted to R815 million, comprising R768 million for preference shares and R47 million for ordinary shares.
The year-on-year growth in ordinary dividends reflects not only ACSA’s stronger balance sheet, but also the company’s sustained recovery and renewed capacity to deliver value to shareholders, the company states.
Mixed circumstances
ACSA CEO Mpumi Mpofu says: “Our performance this year has been a story of contrasts: strong financial delivery on one hand, and operational headwinds on the other. It has demanded from us commercial discipline, executional rigour, and also humility and renewed accountability.
“While these challenges were significant, they taught us valuable lessons to focus on preventative maintenance and avoid service disruptions for our stakeholders the airlines and passengers. This we will achieve through continuous improvement, targeted infrastructure investment and enhanced operational readiness and customer experience.
“ACSA’s performance demonstrates disciplined financial management and a successful strategy of revenue and services diversification.”
She adds: “Our financial results are not only a testament to the resilience of ACSA, but also a reflection of South Africa’s broader aviation recovery. With a clear strategy to ‘innovate, grow and sustain’, we are well-positioned to support national priorities, and foster economic growth in trade and tourism through a modernised aviation sector.”
ACSA points out that it is strengthening supply chain governance and transformation to ensure that small, medium and micro enterprises − particularly those owned by women, youth and people with disabilities − benefit from its procurement footprint.
“As a state-owned company, ACSA carries a multi-faceted mandate: to enable trade and tourism, ensure safe and efficient air travel, and support South Africa’s broader economic development and global connectivity,” it states.
“ACSA will continue to build on this momentum, deploying advanced systems, embracing renewable energy solutions and aligning with South Africa’s just energy transition. In doing so, we aim not only to strengthen our resilience and governance, but also to position ACSA as a trusted, sustainable gateway for trade, tourism and global connectivity – driving growth that endures well beyond the numbers,” it concludes.
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