- Best results in its history: the company closed 2025 with revenues of €2.264 billion (+2.2%) and EBITDA of €250 million (+12.6%)
- A reflection of its global positioning: more than 80% of revenues already come from outside Spain
- The highest profitability in the industry: its EBITDA operating margin stands at 11.1%, the highest in the sector, with expectations of maintaining double-digit levels in the coming years
- Leader in new business generation: Areas has secured more than €3.1 billion in revenues following the award of 64 contracts across Europe and the Americas over the past eighteen months
- The U.S. is now Areas’ largest market: the recent integration of THS has accelerated growth in the country, which now accounts for 28% of Group revenues and where Areas ranks as the second-largest operator
- 2026 set to be another record year: the expansion of the company’s operating footprint and continued improvements in profitability are expected to drive record revenues of €2.7 billion in 2026 while maintaining EBITDA at industry-leading levels
- World’s third-largest travel hospitality operator: Areas strengthens its international position with more than 2,200 outlets and operations in 11 countries
- Leadership in some of the world’s most visited countries: France (1), Spain and Portugal (1), the U.S. (2), Italy (3), and Mexico and Chile (2), all of which are expected to see traffic growth in 2026–2027
- Further acquisitions under consideration: Areas continues to assess potential acquisitions in strategically important markets
Barcelona, 4 June 2026 – Against a backdrop of sustained growth and from a position of leadership across the six markets in which it operates, Areas is accelerating its development with the ambition of surpassing €3 billion in revenue while maintaining strong profitability levels.
Driven by a roadmap focused on global expansion and operational excellence, the company closed fiscal year 2025 with the strongest results in its history, marked by improved profitability and growth across its key operating indicators. Areas generated global revenues of €2.264 billion, representing an increase of 2.2% compared with the previous year. Reported growth was somewhat lower than underlying business performance due to foreign exchange effects, which impacted revenue growth in the U.S. and Mexico. In addition, the company did not benefit from the full contribution of Spain’s two largest railway stations, which are currently undergoing refurbishment works.
Strong business performance, together with the impact of operational improvements implemented over recent years, significantly enhanced Areas’ profitability. EBITDA reached a record €250 million, up 12.6% year-on-year.
As a result, the company increased its EBITDA operating margin to 11.1%, surpassing the double-digit threshold and achieving the highest margin in the industry. Areas has established itself as the benchmark for profitability within the sector and expects to maintain this position in the years ahead.
The expansion of the company’s operating footprint, combined with the continued improvement in operating margins, is expected to enable Areas to close fiscal year 2026 with record revenues of €2.7 billion while maintaining EBITDA at industry-leading levels. Newly awarded contracts, organic and inorganic growth in the U.S., and potential acquisitions currently under consideration in key markets will further accelerate the company’s progress towards €3 billion in global revenues.
“The 2025 results reflect the strength of our business model and the work carried out over recent years. We have a solid platform for growth, supported by new projects, greater scale in key markets and an increasingly efficient operating model, which will enable us to continue strengthening both our revenues and profitability in the years ahead,” said Óscar Vela, Global CEO of Areas.
More than €3.1 billion in revenues
Over the past eighteen months, the company has been awarded 64 contracts that will generate more than €3.1 billion in guaranteed revenues in the coming years. Approximately 60% of this revenue corresponds to Europe (€1.9 billion), 30% (€940 million) to the U.S. — where the company has also completed the acquisition of THS — and 10% (€297 million) to Latin America.
Across Europe, Areas has strengthened its presence in France, securing new operations at key railway stations such as Paris Austerlitz, Montpellier, Gare de l’Est and Lyon Part-Dieu, as well as in the motorway segment through contracts such as Champs d’Amour Vatan. In Spain, notable wins include the Barcelona–El Prat Airport concession programme — the largest in the airport’s history — where Areas will operate 22 new outlets, as well as the renewal of strategic positions in Palma de Mallorca and Portugal. Areas has also reinforced its leadership at major Italian airports including Rome Fiumicino, Venice and Brindisi.
In the U.S., Areas has secured significant contracts at strategic airports such as Miami and Los Angeles, while further strengthening its motorway business through the extension of concessions such as the Florida Turnpike.
Meanwhile, in Latin America, the company has consolidated its presence through operations at Mexico City International Airport, new openings at Guadalajara Airport, and continued activity at Santiago de Chile Airport.
The U.S. becomes Areas’ largest market following the acquisition of THS
The acquisition of Travel Hospitality Services (THS), completed at the end of 2025, represents a major strategic milestone in the Group’s evolution and has enabled Areas to consolidate its position as the second-largest operator in the U.S. travel hospitality market, significantly strengthening both its presence and competitive positioning.
As a result, the U.S. has become the Group’s largest market, accounting for 28% of total revenues. The integration of THS provides greater geographical diversification and strengthens Areas’ presence at major international airports such as Atlanta, Dallas, Los Angeles and Denver, some of the busiest airports in the world.
Following the transaction, Areas now operates in 27 airports and more than 400 points of sale across the country, while expanding its workforce to nearly 6,000 employees. As a result, the company’s U.S. business has experienced strong growth, generating close to €800 million in revenues.
The acquisition forms part of Areas’ international growth strategy, under which more than 80% of Group revenues already originate outside Spain.
A global, customer-centric model
Areas continues to advance its growth strategy through two major operating platforms — Europe and the Americas — with the objective of consolidating its leadership in Europe while accelerating its presence across the American continent, placing customers at the heart of everything it does.
To support this strategy, the company manages a broad portfolio of international and local franchise brands, alongside proprietary concepts such as Deli&Cia, VyTA, StrEAT, GASTROHUB, Pizza Flor, Sibarium and The Market. Together, these brands offer a diverse range of food and beverage experiences tailored to the needs and preferences of travellers in every location.
This approach is underpinned by the Group’s global scale, reinforcing its position as the world’s third-largest travel hospitality operator, with more than 2,200 outlets across 11 countries and a workforce of over 24,000 employees serving more than 350 million travellers every year across airports, railway stations, motorways, leisure destinations and exhibition venues.
Its strong position in key markets, combined with a proposition tailored to each location, reinforces Areas’ ability to deliver sustainable long-term growth while generating a positive impact.