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 — Q4 2015 Earnings Presentation
22 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Mar 1, 2016
Slide 1: OMA Announces Fourth Quarter and Full Year 2015 Results
OMA Announces Fourth Quarter and Full Year 2015 Operating and Financial Results Monterrey, Mexico, February 29, 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 fourth qua
Slide 2: The principal results of the fourth quarter
The principal results of the fourth quarter include: § Total terminal passenger traffic increased 11.3% to 4.4 million in 4Q15. Domestic traffic increased 11.6%; international traffic increased 9.5%. Volaris, Interjet, VivaAerobus, and TAR contributed the most to traffic growth. § Twenty new routes
Slide 3: OMA Contact Information
OMA Contact Information “(Chief Financial Officer Investor Relations \ Media Relations Vicsaly Torres Ruiz $52 (81) 8625 4300 Luis Emmanuel Camacho Thierry Manuel Paola Fernéndez +52 (81) 8625 4308, $52 (81) 8625 4334 +#52(81) 8625 4300 ecamacho@oma.aero mdeleon@oma.aero pfernander@oma.aero Laury Fr
Slide 4: Total passenger traffic increased
Total passenger traffic increased 11.3% (+444,489 passengers). Of total passenger traffic, 86.8% was domestic, and 13.2% was international. Commercial aviation accounted for 98.0% of passenger traffic. Monterrey generated 49.3% of passenger traffic, Culiacán 9.1%, and Chihuahua 6.6%. Domestic passen
Slide 5: International passenger traffic
International passenger traffic increased 9.5%. Six airports increased international traffic. Monterrey (+15.3%; +44,440 passengers) had the largest increase as a result of traffic growth on its Miami, New York, and Chicago routes. During the quarter, four international routes opened, and no routes
Slide 6: Detail of Commercial initiatives Implemented
Detail of Commercial initiatives Implemented Airport ‘Ciudad Judrez, Chihuahua, and Toren Acapulco, Monterey, San Luis, Teron, and Zihuatanejo ‘Acapulco, Chihuahua, Monterey, San Luis Potosi, and Tampico Culiacan, Monterrey, and Zacatecas Monterey Type Passenger Senices Bank Senices Advertising Rest
Slide 7: Non-aeronautical revenues increased
Non-aeronautical revenues increased 32.4% to Ps. 330 million, and they increased their share to 29.0% of the sum of aeronautical and non-aeronautical revenues. The increase reflected ongoing commercial initiatives and the strengthening of diversification activities. The Monterrey Airport contributed
Slide 8: Commercial activities contributed
Commercial activities contributed an additional Ps. 9 million (+6.6%). The line items that had the largest variations were: · Parking revenues (+17.6%; +Ps. 7 million), principally as a result of higher passenger volumes and customer service and promotion initiatives in Monterrey. · Restaurant reven
Slide 9: The maintenance provision was a credit
The maintenance provision was a credit, as a result of the reduction in the corresponding liability, as a result of the definition of the amounts required in the 2016-2020 Master Development Plans for the thirteen airports. Construction costs are equal to construction revenues and do not contribute
Slide 10: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA increased 39.6% to Ps. 651 million, as a result of the Company’s continuing initiatives to increase revenues and control costs and expenses. The Adjusted EBITDA margin rose 531 basis points to 57.2%. (See Notes to the Financial Information for add
Slide 11: Financing Expense
Financing Expense Financing expense decreased from 4Q14 levels to Ps. 57 million. This was the result of increased interest income, an exchange gain resulting from lower USD exposure, as compared to an exchange loss in 4Q14, and a gain in the calculation of the present value of the maintenance provi
Slide 12: MDP and Strategic Investment Expenditures
MDP and Strategic Investment Expenditures Total investment expenditures were Ps. 196 million including MDP projects and strategic investments. [4] Expenditures under the MDP included improvements to concession assets (Ps. 92 million), various smaller accounts (Ps. 2 million), and major maintenance (
Slide 13: Debt
Debt As of December 31, 2015, total debt was Ps. 4,713 million and net debt was Ps. 2,047 million. The ratio of net debt to Adjusted EBITDA was 0.84. Of total debt, 95% was denominated in Mexican pesos, and 5% in U.S. dollars.
Slide 14: Derivative Financial Instruments
Derivative Financial Instruments As of the date of this report, OMA has no derivatives exposure.
Slide 15: 2016 Outlook
2016 Outlook OMA estimates that total passenger traffic growth for 2016 will be between 6% and 8%. The growth in aeronautical revenues is estimated to be between 22% and 24%, and non-aeronautical revenues are expected to increase between 13% and 15%. The Adjusted EBITDA margin is expected to be betw
Slide 16: Passenger Traffic
Grupo Aeroportuario del Centro Norte, S.AB. de C.V. Passenger Traffic (Terminal Passengers - Excludes Transit Passengers) Total Passengers 4o14 4015 Var sama 42m15 Var ‘Acapulco 166, 155 164,508 11.0 631,570 730,382 156 Ciudad Juarez 211,631 230,327 88 768,028 863,760 123 Culiacan 338,123, 396,470 1
Slide 17: Consolidated Balance Sheet
‘Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (Thousands of Pesos) ‘As ofDec.31, As of Dec.31, evar 2014 2016 Dectbidect4 Fasete Current Assets Cash and Cash Equivalents 2,808,149 2,685,641 1 ‘Trade Accounts Receivable - Net 319890 312,081 24) Recoverable Taxes 152827 187.713 32 Other Curren
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) 4a 4015 sami tami5 Var Fevenues Aeronautical Revenues e48.1e7 soge99 24S «2832867303319 198 Non-Aerenautical Revenues 24940233008 324 b8g.683—TtTTSS1 A ‘Aeronautical Revenues + Non A
Slide 19: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de CV. Unaudited Consolidated Cash Flow Statement (Thousands of Fesos) As of December 31, 2014 2015 evar. ‘Operating Activities Consolidated Net Income 1926961 1,296,697 204 Income Tax ze «812110 ~=~=«CO Doubtful Accounts Provision 1.206 (1.21) na Items i
Slide 20: Statement of Changes in Stockholders' Equity
‘Grupo Aeroportuario del Centro Norte, SAB. de CV. Unaudited Statement of Changes in Stockholders" Equity ‘As of December 31,2014 (Thousand Pesos) Additional ‘Share Non- Total Mumber of Capitalstock Paidtn Retained Repurchase Labor Controlling Stockholder's Shares Nominal Capital___Earnings Reserve
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 4Q4 4015 ama 12M15.——_Cutiacin 4g4 4g 241215 Total Passengers Tae 2155.9 1S BAT. Total Passengers BET 3965 3077 DS Total Revenues 420,672 554,681 1,564,653 1,9
Slide 22: Analyst Coverage
Company Actimer Casa de Bolsa, Mauricio Areliano / Ramén Ortiz Bank of America Mertll Lynch Sara Detfim Banorte DE José Espitia Barclays Bank PLC Pablo Monsivais, BBVA Bancomer Mauricio Hemadndez Prida Cctigroup Stephen Trent Credit Suisse Felipe Vinagre Deutsche Bank Daniela Najar Goldman Sachs Mar
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