Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q1 2021 Earnings Presentation
33 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, April 2021
Slide 1: First Quarter 2021 Results
FIRST QUARTER 2021 RESULTS April 2021 Grupo Aeroportuario Del Centro Norte, S.A.B. de C.V. 1
Slide 2: Forward-looking information and statements
This presentation may contain forward-looking information and statements Forward-looking statements are statements that are not historical facts. These statements are only predictions based on our current information and expectations and projections about future events. Forward-looking statements ma
Slide 3: About the Company: Who we are
ABOUT Who we are ABOUT • More than 800 employees committed to providing THE COMPANY aeronautical, commercial and real state services of excellence to our passengers and clients. T H E C O M PA N Y Our Businesses • 13 Airports in the central-north region of Mexico, serving 11 million passengers in 20
Slide 4: Company Overview
Company Overview Value Proposition | Historical Performance | Corporate Governance & Shareholders Structure | Sustainability | COVID-19 Impact Aeronautical Business (AR) Passenger Traffic & Top Routes 1Q21 | Passenger Traffic | Airline Participation 1Q21 | Aeronautical Revenue 1Q21 Non-Aeronautical
Slide 5: Value Proposition
Company Overview Value Proposition Cost and Commitment to Solid regulatory Constant value expenses safety, security framework generation efficiency and sustainability High potential Sustained Visibility on Successful and diversified passenger growth aeronautical commercial and portfolio of tariffs d
Slide 6: Historical Performance
Company Overview Historical Performance CAGR 2012-LTM Mar21 Aeronautical Revenues Non-Aeronautical Revenues Passenger Traffic (million) PAX -3.4% Revenues¹ 2.7% Adjusted EBITDA 3.8% % Adj. EBITDA2 All figures in millions, including passenger traffic. ¹ Represents the sum of aeronautical and non-aero
Slide 7: Corporate Governance & Shareholder Structure
Company Overview Corporate Governance & 14.7% Shareholder Structure SETA 14.7% 1 Shares Management Team *2018 Ricardo Dueñas Chief Executive Officer *2018 *2004 *2001 *2018 *2018 Ruffo Pérez Pliego Chief Financial Officer Adriana Díaz Galindo General Counsel 85.3% Héctor Cortés Chief Commercial Offi
Slide 8: Sustainability
Company Overview Sustainability Awards Medio Environmental Quality Certification awarded by PROFEPA for 12 airports Environmental In 2020, 78% of OMA’s energy provided by wind-generated energy (10-year PPA since 2019) Ambiente Solar park in Zacatecas airport. 45% of total airport consumption i
Slide 9: COVID-19 Impact - Measures Implemented
Company Overview COVID-19 Impact - Measures Implemented Measures related to Aeronautical and Commercial Clients Proactive management of aeronautical portfolio of clients to negotiate deferrals and prevent accrual of past due balances. Discounts and deferrals programs for commercial clients, with
Slide 10: Passenger Flows and Top Routes 1Q21
Aeronautical Business Passenger Flows and Top Routes 1Q21 Total PAX Domestic PAX International PAX Top Routes* MTY – MEX (-53%) 01 1,232 1,087 MTY - CUN (+17%) 02 CUL - TIJ (-8%) 03 145 CUU - MEX (-30%) 04 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb
Slide 11: Passenger Traffic
Aeronautical Business Passenger Traffic HIGHLIGHTS PASSENGER GROWTH PASSENGER SHARE (%) YoY 1Q21 Passenger Growth by type of airport 1Q21 Border CJS -28% Cities 10% Tourist 15% 1Q21 Millions ∆% CUU -30% Total PAX 3.0 -37.8 TRC -38% REX -29% Regional CUL -26% DGO -37% 33% Domestic 2.7 -35.4 MTY -41%
Slide 12: Airline Participation 1Q21
Aeronautical Business Airline Participation 1Q21 Total PAX 89% 11% 3.0 mm Domestic International Passengers 22.9 mm Passengers American 41% -26% 31% -16% Viva Aerobus 39% -18% Viva Aerobus Airlines Viva Aerobus 26% +142% Volaris 28% -27% Volaris 30% -33% United Airlines 12% -64% Grupo Grupo 22% -33%
Slide 13: Aeronautical Revenues 1Q21
Aeronautical Business Aeronautical Revenues 1Q21 Domestic Passenger Charges Ps.872mm Ps.547mm 63% of Aeronautical Revenue 73% of Total Revenue* International Passenger Charges Aeronautical Revenue per Quarter (Ps.mm) Margen EBITDA Ajustado Trimestral Ps.183mm 21% of Aeronautical Revenue 1,275 Airpor
Slide 14: Non-Aeronautical Revenues 1Q21
Non-Aeronautical Business Non-Aeronautical Revenues 1Q21 Commercial Activities Ps.141mm Ps.318mm 44% of Non-aeronautical Revenue 27% of Total Revenue.* Diversification Activities Non-Aeronautical Revenue per Quarter (Ps.mm) Ps.121mm 38% of Non-aeronautical Revenue 440 318 Complementary 307 230 Activ
Slide 15: Commercial Revenues 1Q21
Non-Aeronautical Business Commercial Revenues 1Q21 PARKING CAR RENTALS RESTAURANTS RETAIL AND DUTY ADVERTISING VIP LOUNGES OTHER FREE COMMERCIAL SERVICES 24% 19% 15% 12% 9% 7% 14% Commercial Commercial Commercial Commercial Commercial Commercial Commercial Revenues Revenues Revenues Revenues Revenue
Slide 16: Diversification Revenues 1Q21
Non-Aeronautical Business Diversification Revenues 1Q21 OMA CARGA NHT2 HILTON GARDEN MTY INDUSTRIAL REAL ESTATE COLLECTION INN PARK 20.1% of NAR 9.0% of NAR | 287 Rooms 2.2% of NAR | 134 Rooms 1.4% of NAR 4.8% of NAR Avg. Room Rate: Avg. Room Rate: +29.9% revenues in 1Q21 Ps.2,049 per night +40.2% r
Slide 17: Historical Non-Aeronautical Revenue Growth
Non-Aeronautical Business Historical Non-Aeronautical Revenue Growth NAR – Commercial/PAX NAR – Diversification/PAX NAR – Complementary/PAX 120 114 106 450 100 18% 19% 400 79 350 74 75 80 71 18% 31% 66 8% 16% 28% 300 60 61 8% 60 55 9% 8% 7% 29% 250 10% 28% 28% 25% 8% 3% 4% 200 3% 40 53% 51% 150 20 6
Slide 18: Highlights 1Q21
Financial Results Highlights 1Q21 Revenues* Adjusted EBITDA** Ps. 1,190mm Ps. 808mm Aeronautical (AR): 72% Non-Aeronautical (NAR): 28% Adjusted EBITDA Margin 67.9% Cost of Services and G&A Adjusted EBITDA Margin per Quarter Ps. 305mm Var vs 1Q21: -15.3% 72.2% 69.6% 67.9% 52.3% Consolidated Net Incom
Slide 19: Cost and Efficiency
Financial Results Cost and Efficiency Cost and expense control has contributed to EBITDA growth CAGR Adj. EBITDA / PAX AR+NAR / PAX Total Op. Costs and Exp./ PAX 1 Cost Control Strategy 440 2012 - LTM Mar21 390 Seek operational leverage 6.3% 340 Energy consumption 290 Development of a culture of sav
Slide 20: Balance Sheet
Financial Results Balance Sheet Strong Financial Position* Low Leverage Ps.Million Net Debt / Adjusted EBITDA 1.0 0.8 0.7 0.7 4,686 0.5 0.5 0.3 0.3 3,159 1,528 Total Debt Cash Net Debt 2014 2015 2016 2017 2018 2019 2020 LTM Mar211 1 Considers capitalized leases since 2019 Debt Profile* Debt Maturiti
Slide 21: Value Distribution
Financial Results Value Distribution Dividend or Capital Reimbursement Dividend Yield** Payout Ratio (million pesos)* Percentage Percentage (1) 2,000 1,600 1,600 1,600 1,400 1,200 1,200 1,200 8.6 0 6.9 2 25 4.4 4.2 4.5 3.9 3.9 4.0 175 - 125 184 147 75 100 117 113 85 75 25 56 2012 2013 2014 2015 2016
Slide 22: Investments 2021-2025
MDP & Maximum Rates Investments 2021-2025 Investments by Airport Total Committed Investment Ps. 11,980mm pesos of Dec 31, 2019 Investments in line with passenger contribution of 2019 Airport % PAX/Total % PMD/Total CUU, 6% 2019 2021-2025 MTY, 56% MTY 48% 56% CJS, 8% CUL 11% 9% CJS 7% 8% CUL, 9% CUU
Slide 23: Investments 2021-2025
MDP & Maximum Rates Investments 2021-2025 Total Committed Investment Ps. 11,980mm pesos of Dec 31, 2019 $2,128 $2,389 Terminal Security, Safety & IT Expansion & Equipment, 12% Refurbishing, 47% Ps. 31 Dec 2019 (Ps.mm) $2,494 $11,980 $2,527 Runways and aprons, 13% $2,442 2021 2022 2023 2024 2025 Tota
Slide 24: Expansion – Tampico Airport
MDP & Maximum Rates Expansion – Tampico Airport MDP 2016 – 2020 Second Half 2021* *Expected start of operations 6,833m2 7,763m2 0.8mm PAX 1.1mm Investment Ps.196 mm Total Area Terminal building, m2 +14% Capacity Commercial spaces, m2 +30% PAX +38% 31
Slide 25: Terminal A Expansion – Monterrey Airport
MDP & Maximum Rates Terminal A Expansion – Monterrey Airport Terminal C Terminal A Terminal B Terminal A: 5.3 CAPACITY Terminal B: 3.4 (million passengers) Total Area 62,297 m2 Terminal C: 3.3 Total: 12.0 28
Slide 26: Terminal A Monterrey: 1st Phase Ps.2,190mm
MDP & Maximum Rates Terminal A - Monterrey Airport Project 1st Phase Ps.2,190mm Expansion of the public áreas and Terminal A and Construction of Wing #1 Wing #1 Terminal C Terminal A Public Area of TA Terminal B CAPACITY (million passengers) *Expected start of operations Terminal A: 5.3 CAPACITY Ter
Slide 27: Terminal A Monterrey: 2nd Phase Ps.1,988mm
MDP & Maximum Rates Terminal A - Monterrey Airport Project 2nd Phase Ps.1,988mm Construction of Wing #2 and Expansion of Both Public and Restricted Areas Wing #1 Wing #2 General Espansion of Terminal A Terminal A Terminal B *Expected start of operations Terminal A: 12.9 91,696 m2 CAPACITY Terminal T
Slide 28: Expansion – Culiacán Airport
MDP & Maximum Rates Expansion – Culiacán Airport 1st Phase: 2024 2nd Phase: 2027 12,128m2 25,520m2 2.1mm PAX 3.9mm Investment Ps.1,025 mm Total Area Terminal building, m2 +110% Capacity Commercial spaces, m2 +122% PAX +86%
Slide 29: Expansion – Ciudad Juárez Airport
MDP & Maximum Rates Expansion – Ciudad Juárez Airport End 2022 6,210m2 12,470m2 0.96mm PAX 1.9mm Investment Ps.959 mm Total Area Terminal building, m2 +101% Capacity Commercial spaces, m2 +94% PAX +111% 29
Slide 30: Maximum Rates
MDP & Maximum Rates Maximum Rates MT Recovery Maximum Tariffs 2020 (2) WEIGHT AVG(1) 99.0% 99.3% 97.8% 94.5% Ps.263 13 AIRPORTS 13 Airports 2017 2018 2019 2020 The maximum rate for each succeeding year through 2020 was adjusted by inflation minus an efficiency factor of 0.70% 1 Weighted average usin
Slide 31: Industry Trends
Outlook and Industry Industry Trends Air Industry has Low Penetration in Mexico* Projected Passenger Traffic CAGR 2017-2037** Flights per capita per year Domestic Traffic, except Mexico-USA 2.7 2.4 4.8% 4.5% 4.6% 3.4% 2.4% 1.0 2.0% 0.5 0.5 0.4 Flights per capita per year % Passenger Traffic CAGR Arg
Slide 32: Airlines Fleets and Available Seats
Outlook and Industry Airlines Fleets Historical Airline Fleets and Available Seats Aircraft 2017 2018 2019 2020 1Q21 131 130 125 119 106 84 84 81 86 87 78 71 77 43 44 31 36 24 10 11 11 11 11 NA 00 0 Available seats* 8.0 8.2 0.6 0.6 0.6 0.6 14.6 15.5 15.7 6.7 18.0 17.8 17.4 10.7 11.9 11.9 12.5 13.8 5
Slide 33: Investor Relations Contact
Chief Financial Officer Ruffo Pérez Pliego del Castillo rperezpliego@oma.aero +52.81.8625.4300 GRUPO AEROPORTUARIO DEL CENTRO NORTE, S.A.B. DE C.V. Investor Relations Luis Emmanuel Camacho Thierry ecamacho@oma.aero +52.81.8625.4308 37
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. — Q1 2021 Earnings Presentation on 6ix