Corporacion America Airports Sa · NYSE:CAAP

Corporacion America Airports Sa — Q3 2023 Earnings Presentation

21 slides from Corporacion America Airports Sa's earnings presentation, Nov 15, 2023

  1. Slide 1: Third Quarter 2023 Earnings Call Presentation

    Third Quarter 2023 Earnings Call Presentation

  2. Slide 2: Disclaimer and Forward-Looking Statement

    Third Quarter 2023 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: Record high Adj. EBITDA at $173 M and Revenues ex-IFRIC 37% above pre-pandemic

    Third Quarter 2023 Record high Adj. EBITDA at $173 M and Revenues ex- ► 3Q23 Total Revenues ex-IFRIC up 22% YoY IFRIC 37% above pre-pandemic levels and 37% vs. 3Q19, driven by strong commercial revenue growth and higher tariffs ► Revenue per PAX 40% above pre- Cargo Adj. pandemic levels: Passenger R

  4. Slide 4: Passenger traffic at 98% of 3Q19; strong performance with Armenia, Ecuador and Italy

    Third Quarter 2023 Passenger traffic at 98% of 3Q19; strong performance with Armenia, Ecuador and Italy beating pre-pandemic levels Passenger Traffic Monthly Performance (vs. 2019) Passenger Traffic by Country (In millions) 103% 14.0 105% 98% 99% 99% 100% 96% 12.0 11.5 11.5 95% 95% 92% 90% 10.0 88%

  5. Slide 5: Cargo revenue increased 56% vs 3Q19, while volumes reached 93% of pre-pandemic levels

    Third Quarter 2023 Cargo revenue increased 56% vs 3Q19, while volumes reached 93% of pre-pandemic levels Monthly Cargo Volume Cargo Volume by Country (in Thousand Tons) (in Thousand Tons) 45.0 60.0 53.5 40.0 47.9 50.0 44.4 35.0 40.0 30.0 30.0 21.0 20.0 16.9 25.0 13.0 8.2 7.6 8.4 9.4 10.0 6.8 7.2 7.4

  6. Slide 6: Delivered strong topline performance, 37% above 3Q19 levels

    Third Quarter 2023 Delivered strong topline performance, 37% above 3Q19 levels; fueled by sustained expansion of ► 3Q23 Total revenues ex-IFRIC up 22% YoY and up 37% vs 3Q19 levels Commercial and Aeronautical revenues ► Aeronautical revenues up 27% YoY Net Revenue by type and up 17% vs 3Q19 levels,

  7. Slide 7: Costs & Expenses in line with higher activity and below Revenue growth

    Third Quarter 2023 Costs & Expenses in line with higher activity and ► 3Q23 Total Costs and Expenses ex-IFRIC below Revenue growth up 13% YoY (below the 22% increase in revenues ex-IFRIC), and up 18% vs. Total Costs and Expenses 3Q19 (below the 37% increase in (ex-IFRIC; in US$ million) revenues ex-

  8. Slide 8: Record Adjusted EBITDA of $173M in 3Q23; Margin ex-IFRIC12 expanded to 41%

    Third Quarter 2023 Record Adjusted EBITDA of $173M in 3Q23; Margin ex-IFRIC12 expanded to 41% with contributions from all geographies 38% 41% 32% 41% Adjusted EBITDA Margin Ex- IFRIC12 ► 3Q23 Adj. EBITDA up 32% YoY with strong contributions from Argentina, Italy and Armenia ► 3Q23 Adj. EBITDA up 73%

  9. Slide 9: Positive operating cash flow across all operating subsidiaries

    Third Quarter 2023 Positive operating cash flow across all operating subsidiaries Cash Provided by Operating Activities: $321 M ► Total liquidity position increased to $558 M as of September 30, 2023, from $452 M as of year end 2022 09

  10. Slide 10: Strong financial position and healthy debt maturity profile; Net Leverage Ratio 1.6x

    Third Quarter 2023 Strong financial position and healthy debt maturity profile; Net Leverage Ratio declined further to 1.6x reaching another all time low Debt Maturity Profile (1) Total Liquidity (interest and principal payments) 1% Total Debt Breakdown by Country Position (Sep 30, 2023; US$ Million

  11. Slide 11: Closing Remarks

    Closing Remarks

  12. Slide 12: Third Quarter 2023 closing remarks

    Third Quarter 2023 ► Record-high Adjusted EBITDA of $173 M, with comparable Adjusted EBITDA margin expanding 8.6 percentage points from pre-pandemic levels to 41%, even with passenger traffic 2% below 3Q19 ► Record-high Revenue per PAX at $19, 40% above pre-pandemic levels ► Fully-funded Capex progr

  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 All Countries of Operations

    Exhibits: Business and Financial Review of All Countries of Operations

  15. Slide 15: Argentina: Continued recovery in international passenger traffic

    Third Quarter 2023 Argentina: Continued recovery in international passenger traffic. Strong Commercial revenue growth driven by higher cargo and Duty- Free revenues Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in U

  16. Slide 16: Italy: Passenger traffic beat pre-pandemic levels for the first time

    Third Quarter 2023 Italy: Passenger traffic beat pre-pandemic levels for the first time. Top line growth and cost reductions driving strong Adjusted EBITDA expansion Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in

  17. Slide 17: Brazil: Topline growth above pre-pandemic levels with traffic at 94% of 3Q19

    Third Quarter 2022 Brazil Topline growth above pre-pandemic levels with traffic at 94% of 3Q19. Traffic remained impacted by financial and aircraft constraints in some local airlines. Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million) ( in U

  18. Slide 18: Uruguay: Strong recovery in passenger traffic reaching 94% of pre-pandemic levels

    Third Quarter 2023 Uruguay: Strong recovery in passenger traffic reaching 94% of pre-pandemic levels Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in US$ million) in US$ million) -6% +14% +23% 51% 39% 42% +37% +36%

  19. Slide 19: Armenia: Traffic growth of 40% YoY and 62% above pre-pandemic levels

    Third Quarter 2023 Armenia: Traffic growth of 40% YoY and 62% above Pre-Pandemic levels. Strong Adjusted EBITDA expansion driven by robust commercial revenue growth Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in U

  20. Slide 20: Ecuador: Strong traffic growth from more domestic and international flights

    Third Quarter 2023 Ecuador: Strong traffic growth benefitting from increased number of domestic and international flights. Adjusted EBITDA margin expansion of 4.5 p.p vs pre-pandemic levels Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million)

  21. Slide 21: IR Contact

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

Corporacion America Airports — Q3 2023 Earnings Presentation on 6ix