daa delivers strong operational Performance in 2025 Amid Cost Pressures and an evolving regulatory and planning environment

daa, the global airport and travel retail group and operator of Dublin and Cork airports, has reported a strong operational performance for the year ended December 31, 2025. This reflects strong passenger demand, ongoing infrastructure investment and a focus on safe and reliable operations, despite rising costs and external uncertainty.

In 2025, 39.9 million passengers travelled through Dublin and Cork airports, the busiest year on record, while the daa Group delivered turnover of €1.18 billion, EBITDA of €401 million and profit after tax of €230 million. The daa Board has recommended a dividend of €66 million to the State in respect of the 2025 financial year, bringing total dividends paid since 2024 to €165 million.

These results supported €272 million of capital investment during the year, focused on improving the passenger experience, key airfield and aircraft stand upgrades, the installation of new C3 scanners at terminals 1 and 2 at Dublin Airport, the start of construction on a new mezzanine floor to incorporate a new passenger screening area and lounge at Cork Airport, and advancing sustainability across the Group’s Irish and international operations.

Operational performance
Dublin and Cork airports each recorded their busiest year ever, managing record passenger volumes while continuing to deliver high service standards.

• Dublin Airport welcomed 36.4 million passengers in 2025, a 5% increase on the previous year, supported by a smooth and efficient security experience, with 98% of passengers clearing security in under 20 minutes. The airport also recorded its fourth consecutive year of improved punctuality and achieved its highest‑ever passenger satisfaction scores.
• Cork Airport welcomed an unprecedented 3.5 million passengers, a 13% increase on 2024, marking its busiest year since opening in 1961. The airport continued to deliver high punctuality and customer satisfaction and progressed major terminal, security and baggage investments under its €200 million multi-year capital development programme.

Internationally, daa International supported record passenger volumes at King Abdulaziz International Airport in Jeddah and the successful opening and growth of Red Sea International Airport, while Aer Rianta International (ARI) delivered strong revenue growth across its global travel retail portfolio.

While passenger volumes and revenues increased during the year, the financial outturn reflected  inflation-driven cost pressures across labour, energy and construction, together with ongoing, geopolitical uncertainty and the requirement to invest in long-term infrastructure within a constrained regulatory and planning framework.

Basil Geoghegan, Chair of daa, said:
“These results not only underscore but also highlight daa’s crucial role in sustaining economic growth, tourism, trade and connectivity. We successfully translated strong passenger growth at our airports into a solid financial performance, helping to fund investment in our ambitious plans for the future and return a significant dividend to the State. A continuing issue is the challenge posed by operating in multiple, and at times, conflicting regulatory regimes, which impacts our ability to meet the objectives we are set by our shareholder and provide for Ireland’s growing connectivity needs. The most immediate short-term constraint, the 32 million annual passenger cap, has been recognised by government and we welcome its commitment to address the cap by introducing legislation in 2026.”

Nick Cole, Deputy Chief Executive Officer of daa, said:
“The team’s priority throughout 2025 was operational reliability,  ensuring we could manage busy periods safely, improve punctuality and deliver a really positive passenger experience, while continuing to invest in our airports. That focus remains as we navigate ongoing regulatory processes and an increasingly uncertain external geopolitical  environment.”

Peter Dunne, Group Chief Financial Officer, said:
“The Group has delivered a solid financial performance, with increased turnover and EBITDA for the year ended December 31, 2025. This builds on the record results achieved in 2023 and 2024, and supports our ongoing investment plans to deliver future capacity and improved service standards across both our domestic and international operations.

“Group profit before exceptionals and fair value movements reduced by €6 million (2%), with increases in turnover and EBITDA generated by the Group from our domestic and international activities being offset by a reduction in interest received primarily due to lower deposit interest rates and an increase in the depreciation charge following sustained capital investment over the last number of years.

“During the year, the Group advanced major projects to enhance the passenger experience and increase operational resilience at both Dublin and Cork airports, spending €272 million on the ongoing capital programme. The sustained profitability delivered by the Group has enabled the Board to propose a dividend to the Irish state of €66 million in respect of the 2025 financial year. This will result in cumulative dividends of €165 million being paid to the State since 2024.”

Key 2025 financial highlights

• Passengers through Dublin and Cork airports: 39.9 million
• Turnover: €1.18 billion
• EBITDA: €401 million
• Profit after tax: €230 million
• Capital investment: €272 million
• Net debt: €640 million
• Recommended dividend to the State: €66 million

Community engagement
Community engagement remained a core focus in 2025. At Dublin Airport, daa continued ongoing engagement with neighbouring communities through structured consultation, targeted community programmes and extensive noise mitigation measures, backed by more than €25 million invested in community initiatives. Commitments included regular sharing of information via the independently chaired Community Liaison and Environmental Working Groups, a dedicated Community Engagement and Noise Monitoring team, and sustained investment in residential and school insulation schemes, voluntary home purchase options, and local funding initiatives such as the daa Community Fund and the €2 million Elevate ’25 school grants.

Recent independent research commissioned across Fingal found improved levels of understanding and confidence among local residents in daa’s engagement approach and the information provided on airport operations. These findings reflect sustained efforts to listen, respond and improve how the airport communicates and engages with its surrounding communities, supported by initiatives such as enhanced noise information tools, regular community newsletters, local school and home visits and direct investment in community and education programmes.

In Cork, the airport’s Community Fund continued to support cultural, sporting, tourism and educational initiatives across the region, reinforcing Cork Airport’s role as a key regional gateway and community partner.

ESG and sustainability
Sustainability and ESG delivery remained a central pillar of daa’s strategy in 2025, with progress made across climate, energy, community and governance.
During the year, daa advanced its commitment to operating its airports more efficiently and sustainably, including continued investment in renewable energy, electrification and energy efficiency projects at both Dublin and Cork airports. Dublin Airport’s on‑site solar farm completed its first full year of operation, while Cork Airport progressed plans for its own solar infrastructure as part of its wider €200 million multi-year capital development programme.

Across the Group, daa continued to reduce carbon emissions from its own operations, expand the use of cleaner energy sources and support airline decarbonisation efforts, including the availability of sustainable aviation fuel. These actions support daa’s near‑term climate goals to achieve a 51% reduction in Scope 1 and 2 carbon emissions by 2030 and form part of its long‑term commitment to achieving net zero operations by 2050. daa has also had its climate targets officially validated by the Science Based Targets initiative (SBTi), confirming they align with the latest climate science and the goals of the Paris Agreement. This validation strengthens daa’s sustainability strategy and provides a clear, science-based roadmap for reducing emissions across our operations.

Looking ahead
daa delivered a strong performance in 2025 in a dynamic external environment. At Dublin Airport, sustained passenger demand underlined the strength of Ireland’s connectivity, alongside continued engagement with government, planners and regulators to secure long‑term clarity on future capacity expansion. This includes the passenger cap, North Runway operational arrangements and daa’s Infrastructure Application, all of which are critical to supporting and future‑proofing investment and growth.

At Cork Airport, the focus remains on delivering daa’s €200 million investment programme to enable sustainable growth, supporting up to five million passengers per annum and strengthening connectivity for the South of Ireland.

Internationally, daa continues to closely monitor geopolitical developments, including the current conflict in the Middle East, with the safety of employees and operational resilience as the overriding priorities. Operations at daa’s airports in Saudi Arabia have continued throughout the period, while activities in Abu Dhabi and Bahrain were temporarily paused, with flight operations now gradually resuming as conditions allow.

The Group’s diversified earnings base, strong liquidity and disciplined financial management continue to underpin resilience and investment capacity. Despite ongoing planning and regulatory challenges, daa entered 2026 with confidence, supported by robust passenger demand and sustained investment in infrastructure, sustainability and customer service.