Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Central North Airport Group — Q1 2015 Earnings Presentation
22 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 23, 2015
Slide 1: OMA Announces First Quarter 2015 Earnings
OMA Announces First Quarter 2015 Earnings Monterrey, Mexico, April 22, 2015 – Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), reported its unaudited, consolidated results for the first quarter of 2015 today. [1] First quarter 2015
Slide 2: First quarter 2015 summary of principal results
§ Total terminal passenger traffic increased 17.5% to 3.8 million in 1Q15. Domestic traffic increased 17.3%; international traffic increased 18.4%. Volaris, Interjet, VivaAerobus, and Grupo Aeroméxico contributed the most to traffic growth, and accounted for 76% of the traffic increase § Eight new r
Slide 3: Contact information
SSS ccc CO SS — 0S yp DB OMA Headquarters: +52. 81.8625.4300 P Chiof Financial Officer: > Investor Relations in USA: José Luis Guerrero Cortés Daniel Wilson / Zemi Communications ilguerrero@oma.aero dbmwilson@zemi.com @® EMPRESA Ext, 308. +1.212.689.9560 RESPONSABLE
Slide 4: Total passenger traffic increased
Total passenger traffic increased 17.5% (+566,440 passengers). Eleven airports recorded growth, with the most significant increases in Monterrey (+26.5%; +374,861 passengers), Acapulco (+21.1%; +34,742), Chihuahua (+15.8%; +31,793), Tampico (+20.3%; +29,301), and Zihuatanejo (+14.5%; +26,943). See A
Slide 5: International passenger traffic
International passenger traffic increased 18.4%. Eight airports increased international traffic. Monterrey (+30.8%; +66,859 passengers) was the largest contributor to growth, with increased traffic on its Houston route. During the quarter, two new international routes opened.
Slide 6: NH Terminal Hotel Operations and Consolidated Financial Results
NH Terminal 2 Hotel Operations The operation of the NH T2 hotel in the Mexico City International Airport continued to strengthen. Revenues rose 3.2%, principally as a result of a 370 basis point increase in the occupancy rate, which reached 78.7%. Consolidated Financial Results Revenues Aeronautical
Slide 7: Aeronautical and non-aeronautical revenues
Monterrey contributed 43.3% of aeronautical revenues, Culiacán, 7.9%, Mazatlán, 7.7%, and Zihuatanejo, 7.4%. Aeronautical revenue per passenger increased 3.0% to Ps. 177.6. Non-aeronautical revenues increased 19.5% to Ps. 239 million, or 26.1% of the sum of aeronautical and non-aeronautical revenues
Slide 8: Non-aeronautical revenues by activity
(PS. Thousands) 4014 1015 %Var Commercial Activities: Parking 33,076 40.629 228 Advertising 17,865 21,996 22.9 Retail 15885 18.617 17.2 Restaurants 12646 15,152 19.8 Car Rentals, 14,394 14,178 ha Passenger Services 2089 8 4.427 111.9 Time Shares & Hote! Promotion 4256 © 4,035 (5.2) ‘Communications a
Slide 9: Costs and Operating Expenses
Costs and Operating Expenses The total cost of airport services and general and administrative expenses , which exclude those related to the hotel, increased 6.2%. The line item that increased most was Other costs and Expenses, principally as a result of expenses related to the Master Development Pl
Slide 10: Maintenance provision, taxes and depreciation
The maintenance provision was unchanged. Construction costs and are equal to construction revenues and do not generate a gain or loss. The airport concession tax increased 22.4% because of the growth in revenues. The technical assistance fee increased 34.8% as a result of growth in EBITDA (see Notes
Slide 11: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA increased 32.5% to Ps. 536 million in 1Q15, as a result of the Company’s initiative to increase revenues and control costs. The Adjusted EBITDA margin rose 530 basis points to 58.6%. (See Notes to the Financial Information for additional discussio
Slide 12: Financing Expense
Financing Expense Financing expense was Ps. 88 million in 1Q15. The increase was principally the result of a higher level of debt, an increase in the exchange loss as a result of the depreciation of the peso, and an increase in the loss on the fair value of the maintenance provision.
Slide 13: MDP and Strategic Investment Expenditures
MDP and Strategic Investment Expenditures Total investment expenditures were Ps. 195 million during 1Q15, including MDP projects and strategic investments. Expenditures under the MDP included improvements to concessioned assets (Ps. 107 million), various smaller accounts (Ps. 7 million), and major m
Slide 14: Debt
Debt As of March 31, 2015, total debt was Ps. 4,721 million and net debt was Ps. 1,628 million. The ratio of net debt to Adjusted EBITDA was 0.81.
Slide 15: Derivative Financial Instruments and Cash Flow Statement
Derivative Financial Instruments As of the date of this report, OMA has no derivatives exposure. Cash Flow Statement For the first quarter of 2015, operating activities generated cash of Ps. 513 million. The increase was principally the result of increased revenues, and increases in long term liabil
Slide 16: Passenger Traffic
Grupo Aeroportuario del Centro Norte, S.AB. de C.V. Passenger Traffic (Temninal Passengers - Excludes Transit Passengers) Total Passengers 1014 1015 %Var Reapulco 164,501 Teas Ma (Ciudad Juarez 171,395 194,642 136 Culiacdn 325,558 314,169 co) (Chihuahua 201,148, 232,941 18.8 Durango 2,907 64,137 m2
Slide 17: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of Pesos) As of March 3tst, evar 2014 2015 Assets Current Assets (Cash and Cash Equivalents 1,532,713 3,092,636 101.8 Trade Accounts Receivable - Net 374,719 432,446 184 Recoverable Taxes 368,982 209
Slide 18: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of Pesos) 4014 1015 %Var Revenues ‘Aeronautical Revenues 585,190 o7s338 21.0 Non-Aeronautical Revenues 198,987 233018185 ‘Aeronautical Revenues + Non-Aeronautical Revenues 758,477 3431 —« 208 C
Slide 19: Unaudited Consolidated Cash Flow Statement
‘Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. ‘Unaudited Consolidated Cash Flow Statement (Thousands of Pesos) ‘As of March 31st, 2014 2015 evar. ‘Operating Activities Consolidated Net Income 257,854 258,118 oa income Tax 75S 7a 8 Doubs Accounts Provision @) 24 a2.s) Items in Results Related
Slide 20: Statement of Changes in Stockholders' Equity
‘Grupo Aeroportuario del Centro Norte, S.A.B. de CV. Unaudited Statement of Changes in Stockholders’ Equity ‘As of March 31, 2014 (Thousand Pesos) ‘Additional Share Non- Total Number of Capital stock Paidin Retained Repurchase Labor Controlling Stoctholder’s, Shares ___Nominal___Capital__Eamings __
Slide 21: Unaudited Operating Results by Airport
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. “Unaudited Operating Results by Airport ‘Thousand Passengers and Thousand Pesos Monterrey sor 1015 Cullacén to14 1015 Total Passengers {aia 4,792.1 Total Passengers 366 aD Total Revenues 308,280 296,374 Total Revenues 72,786 90,970 ‘Aeronautical R
Slide 22: Analyst coverage
Company ‘Actinver Casa de Bolsa Bank of America Mertll Lynch Barclays Bank PLC BBVA Bancomer Citigroup Credit Suisse Deutsche Bank Grupo Bursatil Mexicano (GBM) Grupo Financier Interacciones HSBC Intercam Casa de Bolsa Imex tad BBA JP. Morgan Morgan Stanley ‘Santander Scotiabank Signum Research UBS
Central North Airport Group — Q1 2015 Earnings Presentation on 6ix