Letter from the Executive President
Through various projects, we continue to promote the development of hydrogen storage and transportation solutions. We have also strengthened our position as a supplier of structures for electric vertical Take-Off and Landing (eVTOL) aircraft.
For the sixth consecutive year, I am pleased to present this Non-Financial Information Statement, which enables us to share Aciturri's key achievements during the financial year with all our stakeholders.
This sustainability report has been prepared in accordance with the requirements of the non-financial reporting act and the guidelines of the global reporting initiative (GRI) international standard. The aim is to provide stakeholders with information on our environmental, social, and economic impact in 2024. This year marks our 12th consecutive year as a signatory of the United Nations Global Compact.
As founding members of Clean Aviation, we are committed to developing a sustainable aviation industry. To this end, we continue to promote the creation of hydrogen storage and transport solutions through various projects. We have also consolidated our position as a supplier of structures for vertical take-off and landing electric aircraft.
In a global context marked by prolonged armed conflicts, growing economic uncertainty, and ongoing challenges related to rising costs, purchasing raw materials, and acquiring components, our business project continues to enjoy the trust of its customers and the support of its shareholders. This support is essential for advancing toward our goal of recovering pre-pandemic business volume and achieving the level of performance necessary for ensuring the long-term sustainability of our business project.
"In 2024, we consolidated our commitment to the sustainable aeronautics industry alongside the growth of our two businesses. With Aciturri Aeroengines, we took a further step in its growth and internationalization process by inaugurating the new facilities in Casablanca, Morocco. In the aerostructures business, we reached a firm agreement with Sonaca to create a large European group, a global leader in design, manufacturing, and assembly of aeronautical structures."
According to IATA data, global passenger traffic reached record highs in 2024, growing 10.4% — almost 4 points above the 2019 level. However, despite growing demand, order books, and a gradual recovery, returning to pre-pandemic production rates is delayed.
Despite the complex operating environment, we have practically completed the spin-off of the aerostructures and engine components business units. Both now have autonomous and independent structures, giving them the flexibility to adapt to their respective market needs.
Aciturri Aeroengines took another step forward in its growth and internationalization process by opening new facilities in Casablanca, Morocco. This milestone strengthens the company's technological and industrial capabilities, improving the range of products and services offered to the global market.
In the aerostructures business, we ended the year by reaching a firm agreement with Sonaca to establish a significant European group to lead the global market in aerostructure design, manufacturing, and assembly. This partnership will enable us to address the technological challenges of the near future and participate in new platforms. It will also ensure the long-term sustainability of the industrial project and provide stability for employment.
Ginés Clemente
Chief Executive Officer