Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q2 2015 Earnings Presentation
29 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, 2015
Slide 1: Second Quarter 2015 Results
Second Quarter 2015 Results
Slide 2: Investment Highlights
Investment Highlights Positioned to take full advantage of global growth Diversified business model Well-defined strategy to capitalize on favorable industry dynamic Successful commercial and diversification strategy Track record of operating and financial performance Solid capital structure Well-de
Slide 3: Contents
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Contents Company Overview Commercial and Diversification Strategy Strong Financial Position Aeronautical Business Operational & Sustainability Leader
Slide 4: Company Overview
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Company Overview Shareholders Business Strategy Historical Performance 2Q 2015 Highlights
Slide 5: Shareholders
Shareholders AEROINVEST, 23.80% SETA- AEROINVEST, 12.40% SETA, 16.70% PUBLIC FLOAT, 59.50% * SETA-ADP, 4.30% *Includes 6,665,150 repurchased shares as of June 30, 2015 (1.7% of total shares).
Slide 6: Business Strategy
Business Strategy Operational, Security & Efficiency Leadership Maximize Aeronautical Maximize Non-Aeronautical Revenues Revenues Air Traffic & Connectivity Improve Passenger Experience Development Diversification Business Sustainable Company
Slide 7: Historical Performance
Historical Performance Positive tendency despite adverse economic & industry conditions Aeronautical Revenues Non Aeronautical Revenues Passenger Traffic (million) 15.9 4,500 14.2 14.1 14.7 1 16.0 13.3 3,739 4,000 12.6 3,422 14.0 11.8 11.5 11.6 11.8 3,500 10.6 3,065 26% 12.0 9.7 2,820 3,000 8.6 8.9
Slide 8: 2Q15 Highlights
2Q15 Highlights Adjusted Consolidated Passengers Revenues* EBITDA** Net Income 4.2m Ps. 1,015m Ps. 590m +16.6% +20.8% +29.1% Ps. 277m Domestic +15.6% Aeronautical +17.9% 2Q15 Margin 58.2% +29.3% International +23.6% Non-Aero +30.1% 2Q14 Margin 54.4% * Total Revenues not considering Construction Reve
Slide 9: Aeronautical Business
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Aeronautical Business Synergy with Airlines Passenger Traffic Connectivity Development
Slide 10: Passenger Traffic
Passenger Traffic (+12%) Airport Types (%Part) Metropolitan (49.3%) Passenger Traffic 2Q2015 Border Cities ( 7.9%) Tourist (14.2%) • Total Pax: 4.2 million (+16.6%) (+15%) Regional (28.6%) • Domestic: 3.6 million (+15.6%) (-1%) (+25%) • International: 0.6 million (+23.6%) (+6%) (+1%) (+17%) (+20%) (
Slide 11: Airline Synergy
Airline Synergy Important Projects in 2014... Aeromexico Regional HUB Volaris Secondary Base Interjet Secondary Base Operations with New in MTY in MTY in MTY Airline TAR
Slide 12: Airline Participation
Airline Participation Total Passengers International Passengers 16% 14% 20% 30% 5% 6% Volaris 15% 6% 20% 12% 18% 20% 17% Aeroméxico
Slide 13: Connectivity: 10 new direct routes in 6M15
Connectivity 10 new direct routes in 6M15 Domestic Routes Airline Monterrey – Toluca Aeromexico Acapulco – Tijuana Interjet Culiacán – La Paz Volaris Culiacán – San José del Cabo Volaris Torreón – Guadalajara Volaris Torreón – Tijuana Volaris Durango – Tijuana Volaris International Routes Airline Mo
Slide 14: Aeronautical Revenues 2Q15
Aeronautical Revenues 2Q15 Domestic International Airport Aeronautical Passenger Charges Passenger Charges Services Revenues Ps. 477m Ps. 141m Ps. 133m Ps. 751m +15.5% +27.8% +16.8% +17.9% 64% of Total 19% of Total 17% of Total 74% of Total Rev.* Aeronautical Rev. Aeronautical Rev. Aeronautical Rev.
Slide 15: Commercial and Diversification Strategy
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Commercial Diversification Strategy Strategy Commercial Strategy Diversification Strategy
Slide 16: Commercial Key Points
Commercial Key Points Premium Innovative Maximize International Strategy & Alternative Commercial Franchises & Advertising Areas & Loyalty Renowned Programs Local Brands
Slide 17: Diversification Strategy
Diversification Strategy OMA Carga - Logistics Center Hotel NH-T2 Real Estate Development Av. Rate Ps.1,910 Occ. Rate 78.5% %EBITDA 6M15 +157% revenues in 2Q15 37.2% +53% revenues in 2Q15 Industrial Park| OMA-VYNMSA Hotel Hilton Garden Inn - MTY First warehouse ready to be leased. Starts operations
Slide 18: Historical Non-Aeronautical Revenue Performance
Historical Non-Aeronautical Revenue Performance Non-Aeronautical Revenues (NAR) have increased faster than passenger traffic as a result of commercial initiatives and diversification projects NAR Total Passengers 1400.0 15.9 18.0 CAGR 1200.0 14.7 16.0 09-LTM 13.3 11.8 12.6 975.1 14.0 5.5% 1000.0 11.
Slide 19: Non-Aeronautical Revenues 2Q15
Non-Aeronautical Revenues 2Q15 Commercial Diversification Complementary Non-Aeronautical Activities Activities Activities Revenues Ps.138m (+31.3%) Ps. 81m (+33.4%) Ps. 44m (+21.0%) 52% of Non-A. Rev. 31% of Non-A. Rev. 17% of Non-A. Rev. Ps. 263m (+30.1%) 26% of Total Rev * Main Activities Main Act
Slide 20: Operations & Sustainability Leadership
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Operations & Sustainability Leadership 2014 Culiacán Airport Mazatlán Airport
Slide 21: Strong Financial Position
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Strong Financial Position Profitability Indicators Value Distribution Healthy Balance Sheet Master Development Plan
Slide 22: We Continue to Improve Profitability
We Continue to Improve Profitability ROA / ROE 25.0 20.5 18.8 16.8 20.0 Percentage 15.0 12.8 10.1 10.9 10.0 8.2 8.2 9.1 6.6 5.0 - 2011 2012 2013 2014 LTM Earnings per Share 3.01 2.58 2.76 Ps. 2.05 1.54 2011 2012 2013 2014 LTM
Slide 23: Focus on Generating Value
Focus on Generating Value Historical Dividend or Capital Dividend Yield and Payout Reimbursement Ratio Ps. Million 1,400 Percentage Payout Ratio Dividend Yield Título del gráfico 1,200 1,200 1,200 250 8.6 10.0 1,200 6.9 5.7 1,000 4.2 4.4 200 5.0 800 150 147 0.0 117 500 600 100 400 100 81 -5.0 400 61
Slide 24: Healthy Balance Sheet
Healthy Balance Sheet Strong Financial Position Low Leverage vs Industry Ps. Million Net Debt / Adjusted EBITDA 1.3 1.0 0.9 4,713 2,032 0.8 0.8 0.6 2,681 2,681 Total Debt Cash Net Debt 2010 2011 2012 2013 2014 LTM Debt Maturity Profile Capital Structure Improvement Ps. Million Total Debt | Sharehold
Slide 25: Master Development Plan
Master Development Plan Additional Recognition of MDP* Investment in Land Recognized Land Acquired 147 Federal Government agreed to recognize land 146 326 reserve for Ps. 487 million acquired for Culiacan and 579 Monterrey airports as improvements to concession 82 5 537 assets. 469 454 We are curren
Slide 26: Industry and Company Outlook
1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Industry and Company Outlook Industry Trends Company Outlook 2015
Slide 27: Positive Trends in the Aeronautical Industry
Positive Trends in the Aeronautical Industry Air Passenger Transport per Projected Domestic Capita Passenger Traffic CAGR 2014-2033 2.4 6.0% 2.0 5.6% 4.7% 4.7% 2.5% 0.8 1.9% 2.0% 0.5 0.3 0.2 Mexico Argentina Brazil Canada Chile United Mexico Brazil United Canada Russia Central South States States Am
Slide 28: Outlook 2015
Outlook 2015 Current Previous Passenger Traffic Growth 10%-12% 6%-8% Aeronautical Revenue Growth 13%-15% 7%-9% Non-Aeronautical Revenue Growth 18%-20% 13%-16% Adjusted EBITDA Margin 56%-58% 53%-55% MDP Investments (Ps. Million) 500-700 500-700 Strategic Investments (Ps. Million) 100-200 100-200 OMA
Slide 29: Investor Relations Team
Investor Relations Team Vicsaly Torres | vtorres@oma.aero | +52.81.8625.4309 Emmanuel Camacho | ecamacho@oma.aero | +52.81.8625.4308 Manuel Higinio de León | mdeleon@oma.aero | +52.81.8625.4334 Investor Relations in USA Daniel Wilson | Zemi Communications dbmwilson@zemi.com | +1.212.689.9560 Investo
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