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Toscana Aeroporti S.p.A.
(TYA)
Toscana Aeroporti S.p.A. (TYA) vs. iShares MSCI Italy ETF (EWI)
Toscana Aeroporti S.p.A. Business Overview & Revenue Model
Toscana Aeroporti S.p.A. Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 142.40M | 124.14M | 123.26M | 90.41M | 46.89M |
| Gross Profit | 29.60M | 63.70M | 38.91M | 19.22M | -1.28M |
| EBITDA | 43.05M | 42.03M | 36.27M | 17.34M | 667.00K |
| Net Income | 16.10M | 17.10M | 12.63M | 4.67M | -5.26M |
Balance Sheet | |||||
| Total Assets | 325.01M | 296.15M | 303.86M | 322.94M | 332.04M |
| Cash, Cash Equivalents and Short-Term Investments | 29.61M | 22.80M | 26.54M | 56.07M | 54.15M |
| Total Debt | 101.09M | 91.04M | 104.69M | 139.04M | 149.47M |
| Total Liabilities | 201.09M | 182.32M | 197.36M | 222.19M | 229.41M |
| Stockholders Equity | 123.19M | 112.89M | 105.17M | 99.59M | 101.47M |
Cash Flow | |||||
| Free Cash Flow | 26.93M | 23.45M | 12.56M | 21.33M | -16.01M |
| Operating Cash Flow | 30.61M | 25.05M | 26.38M | 30.43M | -938.00K |
| Investing Cash Flow | -25.25M | -6.75M | -13.92M | -10.42M | -15.67M |
| Financing Cash Flow | 1.70M | -21.89M | -42.10M | -18.39M | -5.59M |
Toscana Aeroporti S.p.A. Technical Analysis
Toscana Aeroporti S.p.A. Peers Comparison
Toscana Aeroporti S.p.A. Corporate Events
Toscana Aeroporti S.p.A., operator of the Florence and Pisa airports, was created from the merger of the local airport management companies and leverages the complementary roles of the two hubs. Florence specializes in business and leisure connections through full-service airlines to major European gateways, while Pisa targets tourism, low-cost and cargo traffic as well as intercontinental flights, underpinning Tuscany’s status as a major travel destination.
The company has released documentation for its 29 April 2026 ordinary shareholders’ meeting, making the notice of call, directors’ explanatory reports, share capital information and proxy forms available via its registered office, a storage mechanism and its website. In line with its articles of association, participation and voting at the meeting will occur exclusively through an appointed representative, excluding physical attendance by individual shareholders and reinforcing a controlled, proxy-based governance process for investors.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.
Toscana Aeroporti has called an ordinary shareholders’ meeting for 29 April 2026 at Florence Airport to approve the 2025 separate financial statements, review the consolidated results, and decide on the allocation of the annual profit. Shareholders will also vote on the remuneration report and renew the Board of Statutory Auditors, including appointments and fees, with attendance restricted to proxy voting via a designated representative, underscoring continued reliance on mediated participation mechanisms.
The company has mandated Computershare S.p.A. as the sole designated representative for all shareholders entitled to vote, who must issue proxies with voting instructions on the agenda items. This centralized proxy structure maintains corporate governance continuity while limiting physical participation, which may streamline decision-making but reduces direct shareholder presence in the meeting proceedings.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.
Toscana Aeroporti reported a historic year in 2025, with the Tuscan Airport System handling 9.8 million passengers, up 8.4% and well above the Italian market average, driven by record volumes at both Pisa and Florence. Operating revenues rose 6.4% to €115.9 million, with aviation and non‑aviation activities both advancing, while EBITDA was broadly stable at €45.9 million and EBIT increased 6.4% to €32.7 million.
Net profit eased to €16.1 million, mainly due to the absence of a 2024 non‑recurring gain, but leverage remained controlled with net financial debt roughly flat at €73.3 million and an improved debt‑to‑equity ratio. The company sharply accelerated capital expenditure to €30.1 million, focusing on Pisa terminal expansion and the Florence Master Plan, and signalled confidence in sustained traffic growth and long‑term value creation by proposing a €7 million dividend and highlighting strong passenger trends in early 2026.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.
Toscana Aeroporti reported its best-ever February, handling 543,000 passengers across Florence and Pisa, up 7.3% year-on-year, driven by a 10.5% rise in international traffic that offset weaker domestic demand. The system surpassed one million passengers in the first two months of 2025, an increase of 5.7%, underscoring continued growth in Tuscany’s air connectivity.
Florence Airport saw February traffic climb 5.4% to 215,000 passengers, with strong international routes such as Paris, London and Barcelona compensating for a double-digit drop in domestic travel. Pisa Airport posted an 8.6% February increase to 328,000 passengers, with both international and domestic traffic growing and routes led by Tirana and London, bringing its two-month total above 600,000 passengers for the first time and reinforcing its role as a regional tourism and logistics gateway.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.
Toscana Aeroporti S.p.A., which manages the complementary Florence and Pisa airports and plays a central role in Tuscany’s tourism and business connectivity, has built its network around full-service European hub connections from Florence and low-cost, cargo and intercontinental traffic through Pisa, positioning the Tuscan system as one of Italy’s leading regional aviation gateways. The company opened 2026 with its strongest January on record, surpassing 500,000 monthly passengers for the first time as traffic reached 505,000, up 4.0% year-on-year, driven by a 7.1% rise in international traffic that offset a 5.1% decline in domestic volumes; Florence posted a 6.6% gain to 215,000 passengers on robust international routes such as Paris, London and Barcelona, while Pisa grew 2.1% to 291,000 passengers with Tirana and London leading demand, underscoring the resilience and growing internationalisation of Tuscany’s air travel market despite weaker domestic flows.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.
Toscana Aeroporti has brought forward the Board of Directors meeting to approve the 2025 draft financial statements and convene the related shareholders’ meeting, rescheduling it from 12 March to 10 March 2026 and updating its 2026 corporate events calendar accordingly on the investor relations section of its website. The minor calendar adjustment underscores the company’s effort to provide timely financial disclosure to investors and other stakeholders, supporting visibility over results and governance processes at a time when its dual‑hub Tuscan airport system plays a strategic role in regional connectivity and tourism flows.
The most recent analyst rating on (IT:TYA) stock is a Buy with a EUR22.50 price target. To see the full list of analyst forecasts on Toscana Aeroporti S.p.A. stock, see the IT:TYA Stock Forecast page.