Highlights1 Aug 2025 07:18
IAG H1 results 2025
Strong first half of 2025: robust demand delivering good earnings growth, margin progression and
strong returns to shareholders
Revenue growth in the first half of 8.0% to €15,906 million, reflecting strong demand for our network and brands
• Operating profit before exceptional items in H1 2025 increased by 43.5% to €1,878 million, driven by revenue, fuel and foreign
exchange benefits
• Q2 operating profit before exceptional items increased by 35.4% to €1,680 million
• Transformation programme delivering a better customer experience and supported a 2.9 pts increase in operating margin to 11.8%
in the first half
• Strong balance sheet gives flexibility in capital allocation: net leverage of 0.7x and gross leverage of 2.0x, supported by significant
free cash flow
• Creating value for our shareholders
• Adjusted Earnings per share growth of 69.9%
• €1.5 billion of cash returns to shareholders in 2025 through dividends and buybacks, announced to date