Airports Company South Africa (ACSA) has delivered a record net profit of R1.1 billion, and remains one of the few state-owned entities that are profitable while also declaring dividends. <\/p>\n\n\n\n
ACSA operates South Africa\u2019s largest airports, including O.R. Tambo and Cape Town International Airport. <\/p>\n\n\n\n
Around 75% of the total is owned by the government, with the Public Investment Corporation (PIC), five empowerment investors, and a staff share incentive scheme owning the rest. <\/p>\n\n\n\n
The rise in net profit for the year ended 31 March 2025 is over double the R472 million achieved a year earlier. <\/p>\n\n\n\n
The SOE\u2019s revenue grew by 13% to R7.9 billion (2023\/24: R7 billion), underpinned by improved performances from its aeronautical and non-aeronautical streams, with the latter contributing 49% to revenue.<\/p>\n\n\n\n
EBITDA rose to R2.9 billion and net profit climbed to R1.1 billion, driven by disciplined cost management and strengthened internal controls. <\/p>\n\n\n\n
Capital expenditure rose to R861 million (2023\/24: R568 million), with the SOE expanding airport infrastructure supporting long-term growth.<\/p>\n\n\n\n
The company\u2019s balance sheet remains strong, with total assets of R32 billion, a net debt-to-capitalisation ratio of 8% and liquid assets of R3.4 billion at the year-end.<\/p>\n\n\n\n
With this in mind, 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. <\/p>\n\n\n\n
Although the total dividends declined from the 2023\/24\u2019s total of R815 million, there was a notable rise in the R47 million in dividends for ordinary shares, with the rest used for preference shares. <\/p>\n\n\n\n
Preference shareholders are paid a predetermined amount of dividends, while ordinary shareholders are compensated with varying amounts of dividends each year.<\/p>\n\n\n\n
The group said the increase in ordinary dividends reflects ACSA\u2019s stronger balance sheet and improving capacity to deliver value to shareholders. <\/p>\n\n\n\n
This makes ACSA one of the few SOEs that deliver returns to the government. Many other entities have received bailouts\/capital investments but have yet to deliver returns to the state. <\/p>\n\n\n\n
From 2019 to 2024, South Africa\u2019s total bailouts reached R282.600 billion, with Eskom receiving the lion’s share. In return, only Safcol declared a dividend of R1 million. <\/p>\n\n\n\n