Airports Company South Africa (ACSA) has reported a landmark net profit of R1.1 billion for the year ended 31 March 2025 — more than double the R472 million achieved in 2023/24.

By Jarryd Sinovich

This milestone reflects not only financial resilience but also the organisation’s stature as one of South Africa’s best-performing state-owned companies. It reaffirms ACSA’s role as custodian of critical national infrastructure and a key driver of connectivity, competitiveness, and economic growth.

Revenue grew 13% to R7.9 billion (2023/24: R7.0 billion), supported by strong aeronautical and non-aeronautical streams, with the latter now contributing 49% of total revenue. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to R2.9 billion, representing a margin of 37%.

Capital expenditure increased to R861 million (2023/24: R568 million), underlining ACSA’s commitment to renewing and expanding airport infrastructure. The balance sheet remains robust, with R32 billion in total assets, a net debt-to-capitalisation ratio of just 8%, and year-end liquidity of R3.4 billion.

The Board approved payment of R198 million in preference share dividends and R113 million in ordinary dividends, a sharp increase on the R47 million ordinary dividend in 2023/24.

Commenting on the results, CEO Mpumi Mpofu said:

“Our performance this year has been a story of contrasts — strong financial delivery alongside operational headwinds. These challenges demanded commercial discipline, executional rigour, humility and renewed accountability. Importantly, they reinforced our focus on preventative maintenance, targeted infrastructure investment, and improved customer experience.”

Looking ahead, ACSA has committed to a R21.7 billion capital investment pipeline over the next five years, with flagship projects at O.R. Tambo, Cape Town International and other key airports. This will be complemented by innovation and digitisation initiatives, including partnerships with the CSIR and The Innovation Hub to advance predictive maintenance and biometric-enabled passenger journeys.

Mpofu added:

“Our results reflect not only ACSA’s resilience but also South Africa’s aviation recovery. With a clear strategy to Innovate, Grow and Sustain, we are well positioned to enable trade, tourism, and sustainable growth through a modernised aviation sector.”

ACSA will continue to strengthen governance, drive transformation in its supply chain, and embrace renewable energy solutions in line with South Africa’s just energy transition. In doing so, it aims to remain a trusted, future-ready gateway for trade, tourism, and global connectivity — delivering value well beyond the numbers.