The Namibia Airports Company (NAC) recorded total revenue of N$540.2 million for the financial year ending 31 March 2025, representing a 6% increase from N$516.2 million reported in the previous financial year.
According to the NAC 2024/25 Annual Report, the growth was largely supported by aeronautical revenue of N$346.2 million, driven by passenger service fees of N$254 million, landing fees of N$36.8 million and aviation security fees of N$50.5 million, accounting for 64% of total revenue.
Other operating income also strengthened NAC’s financial position during the period. This included percentage-of-turnover agreements amounting to N$7.3 million, complemented by government grant amortisation of N$71.3 million.
“Water and electricity recoveries amounted to N$8.8 million, while sundry income totalled N$1.3 million. In addition, the company recorded fair value gains on investments of N$19.3 million, partially offset by foreign exchange losses of N$1.6 million and asset disposal losses of N$136,900,” the report stated.
Non-aeronautical revenue contributed a further N$112.6 million, generated from premises, car rentals and concession activities.
NAC Chief Executive Officer Bisey /Uirab said the performance was primarily driven by close collaboration with strategic partners, which supported revenue growth.
“By adding our own route development initiatives, we were able to grow our aeronautical revenues by 6%,” /Uirab said.
The company said revenue growth continued steadily from COVID-19 lows through consistent route development efforts and capacity optimisation initiatives across its airport network.
“Despite economic challenges such as inflation and currency depreciation, NAC exceeded its EBITDA budget through N$87.1 million in revenue overperformance and N$24.4 million in cost savings,” the report stated.
Personnel costs amounted to N$231.9 million, representing 42.9% of revenue, while administrative expenses reached N$139.3 million and depreciation and amortisation totalled N$187.5 million. These were partly offset by the N$24.4 million in cost savings, which helped the company exceed its EBITDA target.
Passenger traffic increased to 1,055,641, a 23% rise from 854,808 recorded in the previous year, surpassing the one million passenger mark for the first time since the pandemic and signalling improving financial resilience amid the global aviation recovery.
Flight movements grew at a more moderate rate of 8%, reaching 46,994 for the 2024/25 period. However, this remains below the pre-pandemic peak of 60,288 recorded in 2019, largely due to the cessation of operations by several regional carriers, the report stated.
