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 — Q2 2013 Earnings Presentation
27 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Jul 25, 2013
Slide 1: OMA Announces Second Quarter 2013 Earnings
OMA Announces Second Quarter 2013 Earnings Monterrey, Mexico, July 24, 2013 – Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), reported its unaudited results for the second quarter of 2013 today. 1 Summary OMA recorded solid result
Slide 2: Principal developments of the second quarter
The principal developments of the second quarter included: § Terminal passenger traffic increased 5.6% to 3.2 million in 2Q13; domestic traffic increased 6.2%, and international traffic increased 1.5%. Nine of the 15 airlines at our airports grew traffic in the quarter. § Seven new domestic routes a
Slide 3: Investor and media contacts
» José Luis Guerrero Cortés = > Daniel Wilson OMA, CFO Zemi Communications +52.81.8625.4300 ext. 308 +1.212,689.9560 ext. 264 jlguerrero @oma.aero dbmwilson@zemi.com
Slide 4: Flight operations and passenger traffic
The total number of flight operations (takeoffs and landings) decreased 3.4% to 80,187 operations. Domestic flight operations decreased 3.0% and international operations decreased 5.8%. Total passenger traffic increased 5.6% (+170,185 terminal passengers). Traffic increased most in the Monterrey (+6
Slide 5: International passenger traffic increased 1.5%
International passenger traffic increased 1.5%. Six airports had increases in international traffic. The most significant increases were in Monterrey (+3.0%) with increases from the Chicago route and Mazatlán (+8.1%) with increases on the Phoenix route. Seven airports had reductions in international
Slide 6: Air cargo and non-aeronautical operations
Air Cargo volumes decreased 5.3%, principally as a result the end of operations by some freight consolidators last year. Of total air cargo volume, 59.0% was domestic and 41.0% was international. Non-Aeronautical and Commercial Operations During 2Q13, 24 new retail, advertising, car rental, restaura
Slide 7: Detail of commercial initiatives implemented in OMA Airports
Detail of commercial initiatives implemented in OMA Airports Airport Acapulco, Culiacan, Chihuahua, MonterreyTA &TC MontereyTC Acapulco, Ciudad Juérez, Culiacén, Mazatlan, MonterreyTA &TC, Zihuatanejo Culiacén, Monterrey-TC Reynosa, Tampico ,Torreén, Zacatecas Durango Mazatlan Type Advertising Resta
Slide 8: Non-aeronautical revenues increased 15.7%
Non-aeronautical revenues increased 15.7%, principally because of growth in revenues from the NH T2 hotel, OMA Carga, and retail and other leases, and checked baggage screening services. · NH T2 hotel revenues increased 10.4% to Ps. 42 million, principally as a result of a higher occupancy rate. Rev
Slide 9: Non-aeronautical revenue contribution by airport
Monterrey contributed 40.3% of non-aeronautical revenues, the NH T2 hotel 22.3%, Mazatlán 4.8%, and Culiacán 4.1%. Non-aeronautical revenues per passenger increased 9.6% to Ps. 58.8; non-aeronautical revenues per passenger have increased for 21 consecutive quarters. Non-aeronautical revenues per pas
Slide 10: Construction revenues, total revenues and costs
Construction revenues increased to Ps. 67 million; construction revenues represent the value of improvements to concessioned assets made during the quarter, and are equal to construction costs recognized, and do not generate either a gain or a loss. (See Notes to the Financial Information.) Total re
Slide 11: Concession tax, depreciation and total costs
The airport concession tax increased 14.1% because of the growth in revenues. The technical assistance fee increased 4.7%, as a result of the increase in EBITDA. Depreciation and amortization increased 7.3%, principally as a result of increased investments, including the expansion of the Culiacán ai
Slide 12: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA increased 14.6% to Ps. 405 million in 2Q13. The Adjusted EBITDA margin was 53.2%, an increase of 160 basis points over the prior year period, and reflects of OMA’s initiatives to increase cash flow. (See Notes to the Financial Information for addi
Slide 13: Financing Expense and Taxes
Financing Expense and Taxes Comprehensive financing expense was Ps. 45 million in 2Q13. The increase is principally the result of the increased level of financial expense as a result of higher debt levels and a loss from the change in the net present value of the maintenance provision. The tax provi
Slide 14: Net Income
Net Income Consolidated net income was Ps. 216 million, an increase of 34.3%, and net income of controlling interest was Ps. 215 million, an increase of 34.6%. The increases were principally the results of higher operating income. Earnings per share were Ps. 0.54, and earnings per ADS were US$0.33 p
Slide 15: Capital Expenditures
Capital Expenditures During 2Q13, capital expenditures were Ps. 145 million, including Master Development Plan (MDP) projects and strategic investments. Major maintenance, which is included in the MDP, was Ps. 64 million in 2Q13, and was a charge against the maintenance provision, reducing this long
Slide 16: Cash Flow Statement
Cash Flow Statement For the first six months of 2013, operating activities generated cash of Ps. 543 million compared to Ps. 535 million during 2012. Investing activities, as presented in the cash flow statement, used cash of Ps. 86 million. In the first six months, OMA made investments of Ps. 264 m
Slide 17: Passenger Traffic
Grupo Aer oportuario del Centro Norte, S.A.B. de C.V. Passenger Traffic (Terminal passengers-excludes transit passengers) Total Passengers 2012 2013 %Var 6miz 6M13%Var ‘Acapulco 125,841 137,233 94 278,509 299,702 7.6 Ciudad Juarez 165,296 166,546 0.8 328,890 317,713 (3.4) Culiacén 290,547 295,648 1.
Slide 18: International Passengers
International Passengers 2Q12 2Q13, % Var 612 6M13% Var ‘Acapulco 10,242 9,412 @1) 39,068 36,875 6.6) Ciudad Juarez 25 240 (12.7) 422 478 13.3 Culiacén 3,595 3,928 9.3 6,772 9,118 34.6 Chihuahua 17,830 20,223 13.4 33,989 37,744 11.0 Durango 5,965 5,335 (10.6) 10,605 9,542 (10.0) Mazatlin 51,393 55,5
Slide 19: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of pesos) June 30 December 31 June 30 % Var % Var 2012 2012 2013 2Q13 vs 2012 2013 vs 4012 Assets Current assets Cash and cash equivalents 368,353 1,152,433 2,093,941 468.5 817 Trade Accounts receiva
Slide 20: Liabilities and stockholders' equity
Liabilities and stockholder’s equity Current liabitities Bank loans 250,000 550,000 - (100.0) (100.0) Current portion of long-termdebt 25,035 33,068 33,481 337 12 Current portion of long-termliabilities 154,976 145,577 116,582 (24.8) (19.9) Trade accounts payable 163,177 163,303 182,825 12.0 12.0 Ta
Slide 21: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of pesos) 2Q12 2913 %Var 6M12 6M13_% Var Revenues Aeronautical services 521,775 572,201 9.7 1,003,022 1,089,318 8.6 Non-aeronautical services 162,980 188,632 15.7 315,089 372,461 18.2 Construct
Slide 22: Operating income and net income
Operating income 265,520 313,803 18.2 529,990 616,081 16.2 Comprehensive financing income (expense) Interest income (expense) - net (17,507) (25,447) 45.4 84,467) (46,012) 33.5 Exchange gain (loss)- net (10,452) (12,968) 24.4 14,917 8,569) (123.9) Loss for change in reasonable vate (7,072) (7,072) ‘
Slide 23: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement (Thousands of pesos) January 1-June 30 12 2013 %Var. ‘Operatir Income before taxes 344536 441,750 28.2 Items in results related to investing activities Income Tax 165,903 117,680 (29.1) Depreciation and a
Slide 24: Cash flow: changes in working capital
Changes in: Trade Accounts receivable-net 28,129 (40,631) (244.4) Recoverable taxes, 53,745 90,854 69.0 Other accounts receivable (17,859) (13,366) (25.2) ‘Accounts payable 38,452 2,785 (92.8) Taxes and acumulated expenses (68,454) 8,584 (112.5) Taxes paid (49,993) (103,255) 0.0 ‘Accounts payable to
Slide 25: Statement of Changes in Stockholders' Equity
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity For the six months ending on June 30, 2013 (thousand pesos) ‘Additional Reserve for Non- Total Number of Capital stock paid in Retained repurchase Labor controlling _stockholder’s : Shares Nom
Slide 26: Operating Results by Airport
Monterrey Total passengers Total Revenues Aeronautical services Non- Aeronatical services Construction services Income from operations EBITDA Chihuahua Total passengers TotalRevenues ‘Aeronautical services Non- Aeronatical services Construction services Income from operations EBITDA Mazatlan Total p
Slide 27: Operating Results by Airport: Zihuatanejo and others
Zihuatanejo Other six airports Total passengers %.1 RD 263.0 251.2 ‘Total passengers 504.4 523.6 985.7 1,009.0 Total Revenues 20,336 «25,996 60,859 64,841 Total Revenues 129,647 176,705 240,291 322,531 Aeronautical services 15,999 20,252 51,057 52,166 Aeronauticalservices 97,336 104,207 184,124 196,
Central North Airport Group — Q2 2013 Earnings Presentation on 6ix