(Alliance News) - Toscana Aeroporti Spa reported Tuesday that it ended 2023 with revenues of EUR123.3 million compared to EUR90.4 million in 2022.

Specifically, operating revenues were EUR101.6 million, up 32 percent from EUR76.8 million in 2022. In detail, aviation revenues stood at EUR78.1 million, showing an increase of 31% compared to EUR59.5 million in 2022, due to the increased traffic handled and the positive second instance ruling mentioned above.

Non-aviation revenues, in relation to the increase in passenger traffic recorded, reached EUR36.9 million, showing a 20 percent increase from EUR30.7 million in 2022. Other revenues of EUR6.7 million grew by 7.8 percent, mainly due to the activities of the subsidiary Toscana Aeroporti Costruzioni Srl. Revenues from construction services, directly related to the investments made, were EUR15.0 million, up 103% from EUR7.4 million in 2022.

Ebitda rose to EUR41.7 million, doubling the 2022 figure of EUR20.9 million, and operating income rose to EUR26.2 million from EUR7.2 million in the previous year.

Pre-tax profit, up to EUR19.4 million from EUR3.1 million a year earlier, and net income, up to EUR12.6 million from EUR4.7 million in 2022, also did well.

As of December 31, 2023, net financial debt amounted to EUR79.6 million, down from EUR85.7 million in the previous year. This reduction occurred mainly due to the fact that cash flows generated by operating activities, fully returned to pre-pandemic levels, were more than capacious to support infrastructure investments and the distribution of dividends for the period.

In 2023, the Tuscan Airport System carried 8.2 million passengers, registering a 22 percent increase over 2022 and a 99 percent recovery over 2019. Florence Airport recorded its own historical record by exceeding 3 million passengers a passenger traffic growth continued in 2024. In the first two months of the year, the Tuscan Airport System recorded a total of more than 903,000 passengers, showing a 12 percent increase over the same period in 2023.

Toscana Aeroporti's stock closed Tuesday up 2.5 percent at EUR12.30 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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