ACSA records 11.6% revenue growth in 2025/26

Airports Company South Africa (ACSA) has reported an 11.6% increase in revenue to R8.81 billion for the 2025/26 financial year, up from R7.89 billion in the previous financial year.

The company said its audited results show continued progress under its Innovate, Grow and Sustain strategy, with growth across both core revenue streams.

Aeronautical revenue rose 15.2% to R4.68 billion, up from R4.06 billion in 2025. ACSA attributed the increase to a 1.3% rise in aircraft movements, an 8.5% increase in departing passengers and a 6.5% tariff increase.

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Non-aeronautical revenue, derived mainly from property rental income and parking fees, increased by 7.7% to R4.18 billion, compared with R3.83 billion in the previous period. ACSA attributed this growth largely to improved trading conditions.

“Growth in both our aeronautical and non-aeronautical revenue streams demonstrates the strength of our diversification strategy,” said acting CEO Charles Shilowa.

ACSA said its diversification strategy is intended to reduce the risks associated with sudden shocks to aeronautical revenue while making greater use of existing infrastructure to create value for the company and communities surrounding its airports.

Operating expenditure increased during the year, which ACSA attributed to higher facilities management costs, exchange-rate fluctuations and the effects of global geopolitical issues on supply chains and jet fuel prices.

Employee expenditure also increased within the company’s predicted range. ACSA said this was partly due to annual remuneration increases, enhanced employee benefits, an allocation of R353 million for incentive bonuses and the insourcing of core security operations.

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ACSA also filled critical vacancies to support the implementation of its corporate plan.

Despite these cost pressures, ACSA said stringent cost-management measures helped limit the decline in EBITDA.

Profit before taxation increased to R1.99 billion, compared with R1.81 billion in 2025, while net profit rose to R1.20 billion from R1.14 billion.

“The disciplined implementation of our strategy, supported by the revised Financial Plan introduced during the post-Covid recovery phase, has enabled us to allocate resources effectively while strengthening the long-term sustainability and resilience of the business,” said Shilowa.

ACSA said its strategic direction reflects developments in the aviation industry, including the growing focus on airports as economic, digital and energy hubs rather than solely transport facilities.

The company said airports are increasingly being developed to support property development, logistics, retail, energy infrastructure, data systems and regional economic activity.

Passenger experience is also a focus, with ACSA highlighting self-service options, biometric identity checks, pre-travel digital services and efforts to create more seamless airport journeys.

Infrastructure optimisation and capacity management, including terminal optimisation, real-time analytics and AI-enabled runway and stand allocation, also form part of the company’s strategic focus.

Capital expenditure remains focused on maintaining and improving existing infrastructure. Capex increased to R1.1 billion during the reporting period, compared with R861 million in the previous period.

Total asset value increased by 2.5% to R33.30 billion, driven primarily by an increase in cash on hand, including short-term investments, and fair-value gains in the property portfolio.

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“ACSA’s performance in the 2025/26 financial year clearly demonstrates the significance of our diversified revenue model,” said Shilowa.

“We will therefore continue to focus on growing revenue in both areas of the business and on protecting profitability, strengthening liquidity, reducing leverage and enhancing critical infrastructure.”

He added that ACSA would continue to uphold its standards of governance, transparency and leadership.