Corporacion America Airports Sa · NYSE:CAAP

Corporacion America Airports Sa — Q1 2024 Earnings Presentation

21 slides from Corporacion America Airports Sa's earnings presentation, May 23, 2024

  1. Slide 1: First Quarter 2024 Earnings Call Presentation

    First Quarter 2024 Earnings Call Presentation

  2. Slide 2: Disclaimer and Forward-Looking Statement

    First Quarter 2024 Disclaimer and Forward-Looking Statement Statements relating to our future plans, projections, events or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include all statements that are

  3. Slide 3: Positive start to the year; delivered $163 M in Adjusted EBITDA in 1Q24

    First Quarter 2024 Positive start to the year; delivered $163 M in ► Passenger traffic (PAX) up 2.6% YoY or 4.3% Adjusted EBITDA in 1Q24 when adjusting for the discontinuation of Natal airport concession ► 1Q24 Revenues up 12% YoY and above PAX growth o Revenue per PAX up 10% YoY Passenger Cargo Rev

  4. Slide 4: Passenger traffic ex Natal up 4% YoY, fueled by Uruguay, Italy and Argentina

    First Quarter 2024 Passenger traffic ex Natal up 4% YoY, fueled by strong performance in Uruguay, Italy and Argentina Monthly Passenger traffic Passenger Traffic by Country (in millions) (In millions) 8.0 12.0 11.1 1Q24: 19.0m 10.8 10.3 1Q23: 18.5m 10.0 7.5 8.0 7.0 6.0 5.0 6.5 4.2 3.9 4.0 6.0 2.0 1.

  5. Slide 5: Cargo volumes up 3% YoY driven by Armenia and Ecuador

    First Quarter 2024 Cargo volumes up 3% YoY mainly driven by strong growth in Armenia and Ecuador Monthly Cargo Volume Cargo Volume by Country 45.0 (in Thousand Tons) (in Thousand Tons) 60.0 56.1 40.0 50.0 43.6 44.2 35.0 40.0 30.0 30.0 23.5 20.0 16.0 15.4 25.0 11.3 9.3 9.0 10.0 7.9 7.2 6.4 7.0 6.9 3.

  6. Slide 6: Revenue growth of +12% YoY outperforming PAX growth

    First Quarter 2024 Revenue growth of +12% YoY and outperforming PAX growth, driven by continued expansion of Aeronautical revenues Revenue by type – vs 1Q23 (ex-IFRIC12; in US$ million) +12% ► Total Revenues ex-IFRIC12 up 12% YoY and above growth in PAX o Aeronautical revenues up 19% YoY, mainly dri

  7. Slide 7: Costs & expenses in line with higher activity and below revenue growth

    First Quarter 2024 Costs & expenses in line with higher activity and below revenue growth Total Costs and Expenses – vs 1Q23 (ex-IFRIC; in US$ million) +9% ► Total Costs and Expenses ex-IFRIC12 up 9% YoY, below revenue growth of 12%. Main drivers were: o Higher Salaries in Argentina as well as highe

  8. Slide 8: Adjusted EBITDA growth above PAX and margin expansion in all countries, except Ecuador

    First Quarter 2024 Adjusted EBITDA growth above PAX and margin expansion in all countries, except Ecuador Adjusted EBITDA – vs 1Q23 (ex-IFRIC; in US$ million) Adjusted EBITDA Margin Ex- IFRIC12 42% 40% Argentina As Reported +$14 million +16% ► Adj. EBITDA Ex-IFRIC12 up 16% YoY to $163M, above 2.6% g

  9. Slide 9: Total liquidity position up 19% vs. 2023 year end

    First Quarter 2024 Total liquidity position up 19% vs. 2023 year end; positive operating cash flow across most of the operating subsidiaries Cash Provided by Operating Activities: $165 M ► Total liquidity position increased to $545M as of March 31, 2024, from $458M as of year end 2023 ► Cash Used in

  10. Slide 10: Strong financial position and healthy debt maturity profile; net leverage 1.2x

    First Quarter 2024 Strong financial position and healthy debt maturity profile; further improvement in net leverage ratio to a record low of 1.2x Debt Maturity Profile (1) Total Liquidity (interest and principal payments) Total Debt Breakdown by Country Position (Mar 31, 2024; US$ Million) (Mar 31,

  11. Slide 11: Closing Remarks

    Closing Remarks

  12. Slide 12: First Quarter 2024 closing remarks

    First Quarter 2024 ► Positive start to the year with revenues outpacing passenger traffic growth ► Revenue per PAX at $20.6, up 10% YoY ► EBITDA ex-IFRIC12 up 16% YoY with margin expanding 1.5 pp reflecting higher operating leverage ► Strong balance sheet and debt maturity profile with net leverage

  13. Slide 13: Questions & Answers

    : = = ‘ . az! " —— =o ome. + ae “te ae | = are — ag es er Te - = lt Te — oe Questions & Answers

  14. Slide 14: Exhibits: Business and Financial Review of Key Countries of Operations

    Exhibits: Business and Financial Review of Key Countries of Operations

  15. Slide 15: Argentina: Strong International Passenger traffic growth supported margin expansion

    First Quarter 2024 Argentina: Strong International Passenger traffic growth supported Adjusted EBITDA margin expansion, despite lower Duty Free and Cargo revenues and higher inflation than devaluation Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IF

  16. Slide 16: Italy: Passenger traffic growth of 14% YoY; Adjusted EBITDA margin expansion

    First Quarter 2024 Italy: Passenger traffic growth of 14% YoY; Adjusted EBITDA margin expansion of 7.5 p.p driven by strong traffic and revenue growth Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in US$ million) (e

  17. Slide 17: Brazil: Traffic impacted by airline constraints; margin expansion

    First Quarter 2024 Brazil: Traffic remained impacted by financial and aircraft constraints in some local airlines. Adjusted EBITDA margin expansion driven by strong commercial revenue growth Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million)

  18. Slide 18: Uruguay: Passenger traffic growth of 29%

    First Quarter 2024 Uruguay: Passenger traffic growth of 29% boosted by new routes and frequencies in the quarter. Strong Adjusted EBITDA growth and margin expansion driven by traffic growth, tariff adjustments and higher commercial revenues Passenger traffic Net Revenue by type Total Cost and Expens

  19. Slide 19: Armenia: Adjusted EBITDA growth and margin expansion

    First Quarter 2024 Armenia: Adjusted EBITDA growth and margin expansion despite slight topline and passenger traffic decline; lower cost of fuel linked to lower fuel revenues Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-I

  20. Slide 20: Ecuador: Domestic traffic affected by exit of local carrier

    First Quarter 2024 Ecuador: Domestic traffic comparison affected by exit of local carrier. Adjusted EBITDA margin impacted by higher costs and extraordinary items Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million) ( in US$ million) (ex-IFRIC

  21. Slide 21: IR Contact

    IR Contact Patricio Iñaki Esnaola Email: Patricio.esnaola@caairports.com Phone: +5411 4899 6716

Corporacion America Airports — Q1 2024 Earnings Presentation on 6ix