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Corporación América Posts Robust H1 2025 Growth and Advances Expansion Pipeline Across Core Markets
Justin Lee
September 20, 2025
Corporación América Airports (CAAP) reported a strong H1 2025 with double-digit passenger growth and higher revenues and EBITDA at the group level, supported by broad-based recoveries across Argentina, Italy, Brazil, Uruguay, Armenia, and Ecuador. The company advanced key expansion and capex initiatives—most notably in Florence, Yerevan, and across its Argentine and Uruguayan networks—while maintaining low leverage and ample liquidity to fund its pipeline.
CAAP delivered a solid first half of 2025, with passenger traffic up 10.4% year over year to 41.1 million. Group revenues excluding construction services rose 16.0% to US$852.3mn (ex-IAS 29), supported by broad-based growth in both aeronautical and commercial activities.
Adjusted EBITDA reached US$331.9mn (ex-IAS 29), up 15.6% versus the prior year, with the Adjusted EBITDA margin (ex-construction service) at 38.3%.
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