Mozambique Airports Company Shows a Profit

By MOZTIMES

Maputo (MOZTIMES) - After many years of running at a loss, the publicly owned Mozambique Airports company (AdM), finally showed a profit in 2025.

The company posted net earnings of 637 million meticais (about 10 million US dollars, at the current exchange rate).

According to the 2025 annual report and accounts, cited by the Portuguese news agency, Lusa, AdM, which manages around 20 airports and airfields, ended the financial year reversing several consecutive years of losses, which had reached 1.53 billion meticais (about 16 million dollars) in 2024.

The AdM Board claims that the company’s results have improved because of the restructuring of the debt owed by Mozambique Airlines (LAM). This allowed operating results to move from a negative balance of 583 million meticais in 2024 to a positive result of 1.19 billion meticais in 2025.

Deloitte, the company’s auditor, declared that the Institute for the Management of State Holdings (IGEPE) carried out a debt-offsetting operation in 2025 involving AdM’s claims on LAM and the airport operator’s debts to the State and other public entities, amounting to 3.78 billion meticais.

According to the audit opinion, the operation enabled the reversal of previously recognised impairments amounting to 2.48 billion meticais, thereby contributing to the improvement in AdM’s results.

Despite this return to profitability, Deloitte pointed to a “material uncertainty” regarding the company’s continued operation. As of 31 December 2025, AdM had negative equity of 857 million meticais and current liabilities exceeded current assets.

AdM’s turnover fell to 2.85 billion meticais, according to the Board’s report, which notes that the figure was 23% below target and 5% lower than in 2024.

Aeronautical revenues, the company’s main source of income, totalled 2.57 billion meticais, a decrease of 6.7% compared with the previous year, while non-aeronautical revenues increased by 10% to 290 million meticais.

Mozambican airports handled 1,863,772 passengers in 2025, down 9.3% from the 2,055,435 recorded in 2024. The number of aircraft movements fell by 10.9% to 54,495 operations.

Cargo handled totalled 7,842 tonnes, 28.4% less than in 2024, while mail traffic fell by 43.5% to 275 tonnes. In contrast, overflights through Mozambique’s airspace increased by 10.6% to 32,901.

Financially, AdM’s income and gains reached 5.85 billion meticais, an increase of 67%, while expenses and losses rose by 12.2% to 5.45 billion meticais.

AdM chairperson Amélia Muendane told reporters that 2025 had been “particularly challenging for the aviation sector”, owing to the macroeconomic environment, geopolitical developments, instability in the country following post-election rioting in late 2024 and early 2025, and the security situation in the northern province of Cabo Delgado, where a jihadist insurgency has been under way since 2017. (MT)

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