Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q1 2023 Earnings Presentation
32 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 27, 2023
Slide 1: First Quarter Results
First Quarter Results Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. May 2023
Slide 2: Disclaimer
DISCLAIMER 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 s
Slide 3: Table of Contents
TABLE OF CONTENTS Company Overview 1 About the Company | Reasons to Invest | Corporate Governance | Shareholders’ Structure | Growing Revenue & Efficiency | Prioritizing Sustainability Aeronautical Business (AR) 2 Sustained Traffic Rebound | Top Routes Performance | Airline Participation 1Q23 | Aero
Slide 4: About the Company
COMPANY OVERVIEW 13 Airports ABOUT THE COMPANY In the central-north region of Mexico, serving 24.6 million passengers in LTM March 2023. Ciudad Juárez 2 Hotels and 1 Industrial Park • NH Collection • NH Collection Hotel inHotel in Terminal Terminal 2 of the2Mexico of the Mexico City City Airport • H
Slide 5: Reasons to Invest
COMPANY OVERVIEW REASONS TO INVEST 1 2 3 4 Efficient High potential Commitment to management of Sustained and diversified safety, security costs and passenger growth asset portfolio and sustainability expenses 5 6 7 8 Successful Visibility on Solid regulatory commercial and Constant value aeronautic
Slide 6: Corporate Governance
COMPANY OVERVIEW CORPORATE GOVERNANCE Management Team Our Board of Directors Ricardo Dueñas Chief Executive Officer Ruffo Pérez Pliego Chief Financial Officer The board has a total of 11 members, of which 1 is a woman and 5 are independent. Adriana Díaz Galindo General Counsel Committees Compliance
Slide 7: Shareholders' Structure
COMPANY OVERVIEW SHAREHOLDERS’ STRUCTURE 1 29.99% Market Capitalization3 Ps. Bn. $75.6 / USD Bn. $4.2 Float 70.01% Note: As of May 30, 2023 1 Vinci Airports owns 14.8% through Servicios de Tecnología Aeroportuaria, S.A. de C.V. (12.9% BB Shares and 1.9% B Shares) and 15.1% through Concessoc 31, SAS,
Slide 8: Growing Revenue & Efficiency
COMPANY OVERVIEW GROWING REVENUE & EFFICIENCY Passenger Traffic 24.6 Non-Aeronautical Revenues 23.2 23.2 25. 0 21.6 9,967 24. 0 Aeronautical Revenues 23. 0 19.7 9,285 10,000 22. 0 18.8 18.0 21. 0 20. 0 24% 19. 0 14.7 18. 0 24% 17. 0 8,000 7,572 16. 0 13.3 6,931 15. 0 6,766 14. 0 24% 11.1 13. 0 12. 0
Slide 9: Prioritizing Sustainability
COMPANY OVERVIEW PRIORITIZING SUSTAINABILITY Environmental Target established for the reduction of OMA’s greenhouse gas emissions per passenger in 58% by December 31, 2025. Social All of our airports received the certification of the Governance Airport Carbon Accreditation Program (Level 1) in
Slide 10: Sustained Traffic Growth
AERONAUTICAL BUSINESS SUSTAINED TRAFFIC GROWTH 2019 2022 2023 Domestic International Thousands of Passengers Thousands of Passengers 304 1,893 1,956 286 1,720 266 263 1,685 1,701 254 250 1,619 1,580 1,561 224 231 226 1,430 218 1,320 193 1,245 1,189 166 January February March April January February M
Slide 11: Top Routes Performance
AERONAUTICAL BUSINESS TOP ROUTES PERFORMANCE Top 10 Routes 4M23 Main Market Served Business 13.2% Leisure VFR (Visiting Friends & Relatives) 5.4% 4.1% 4.0% 3.7% 3.1% 2.5% 2.2% 2.2% 2.1% Monterrey - Monterrey - Monterrey - Culiacan - Ciudad Juarez Chihuahua - Monterrey - Mazatlan - Acapulco - Culiaca
Slide 12: Airline Participation 4M23
AERONAUTICAL BUSINESS AIRLINE PARTICIPATION 4M23 Total Passengers 8.2 mm Domestic Passengers International Passengers 87% 13% +40% +43% +27% +14% +26% +14% +53% +40% +46% -11% +14% +5% +41% +45% +14% +44% Others; 2% +15% -29% Note: Percentages in graphs represent 1) Passenger share by airline and 2)
Slide 13: Continued Growth in Aeronautical Revenue
AERONAUTICAL BUSINESS CONTINUED GROWTH IN AERONAUTICAL REVENUE +7.9% 9,00 Aeronautical Revenue Ps. (mm) 7,613 8,00 7,056 12% 7,00 13% 5,753 20% 6,00 5,140 5,278 19% 13% 13% 5,00 4,347 14% 21% 14% 21% 22% 4,00 21% 2,943 3,00 18% 68% 68% 18% 2,00 66% 65% 66% 64% 63% 1,00 0 2017 2018 2019 2020 2021 202
Slide 14: Non-Aeronautical Revenue Solid Performance
NON-AERONAUTICAL BUSINESS NON-AERONAUTICAL REVENUE SOLID PERFORMANCE +5.5% Non-Aeronautical Revenue 2,353 Complementary Activities Ps. (mm) 2,230 15% Baggage screening system and leasing of non-essential space 16% to airlines. 1,820 1,625 1,653 16% 34% 1,456 16% 18% 34% Diversification Activities
Slide 15: Commercial Strategy
NON-AERONAUTICAL BUSINESS COMMERCIAL Incorporation of innovative advertising STRATEGY Development of premium offer OMA has a commercial area of approximately 22,500 m2 in its 13 airports. Maintenance of high occupancy levels We constantly look for the optimization of these areas and the diversificat
Slide 16: Commercial Revenue
NON-AERONAUTICAL BUSINESS COMMERCIAL REVENUE CAR RENTAL . PARKING RESTAURANTS RETAIL & DUTY FREE 31% Commercial Revenues 20% Commercial Revenues 18% Commercial Revenues 14% Commercial Revenues Direct operation and management of 250+ spaces for reservations, VIP 120+ spaces for local and 200+ spaces
Slide 17: Diversification Revenue
NON-AERONAUTICAL BUSINESS DIVERSIFICATION REVENUE OMA CARGA HILTON GARDEN INN NHT2 COLLECTION 14% of NAR 4% of NAR | 134 Rooms 10% of NAR | 287 Rooms Revenues: +13.6% vs 1Q22 Avg. Room Rate: Ps.2,582.21 per night Avg. Room Rate: Ps.2,607.94 per night Tons handled: 8,524 (vs -16.0% in 1Q22) Occupancy
Slide 18: Historical Non-Aeronautical Growth per Pax
NON-AERONAUTICAL BUSINESS HISTORICAL NON-AERONAUTICAL GROWTH PER PAX 10 Complementary Revenues Non-Aeronautical Revenue/Passenger 120 106 90 Diversification Revenues 100 17% 96 96 Commercial Revenues 92 16% 15% 70 79 18% 80 74 75 71 16% 16% 16% 34% 60 61 16% 34% 34% 50 34% 60 19% 19% 34% 35% 36% 35%
Slide 19: Cost & Efficiency
FINANCIAL RESULTS Cost & Adjusted EBITDA / Passenger CAGR Total Cost and Expenses 1 Efficiency Aeronautical + Non-Aeronautical Revenues / Passenger 260 .00 2013-2022 +10.0% Total Operating Costs and Expenses/ Passenger 1 240 .00 (Index 100=2013) Cost Control Strategy 220 .00 +16% • Development of a
Slide 20: Balance Sheet
FINANCIAL RESULTS BALANCE SHEET Strong Financial Position* Low Leverage (Ps.mm) (Net Debt/Adjusted EBITDA) 1.0 1.0 1.1 0.9 0.8 0.7 10,875 0.5 0.5 8,043 0.3 0.4 0.3 2,831 Total Debt Cash Net Debt 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 LTM Mar23 Debt Maturities Ratings (Ps.mm) OMA23-2L OMA2
Slide 21: Value Distribution
FINANCIAL RESULTS Payout Ratio % VALUE Dividend Yield %1 6,370 Dividends (Ps. Millions)2 3 3,750 DISTRIBUTION 2,300 1,400 1,600 1,600 1,600 1,200 - 12.4 6.4 4.4 4.2 4.5 4.3 4.2 3.9 580 - 136 100 96 85 80 75 56 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 1 Dividend yield was calculated with the sh
Slide 22: MDP Investments 2021-2025
MDP & MAXIMUM TARIFFS MDP INVESTMENTS 2021-2025 Committed Investments by Airport Total Committed Investment* Ps. 16,481mm %MDP/Total Airport % PAX 2022/Total 2021-2025 MTY 47% 56% Durango 3% CUL 10% 9% CJS 9% 8% CUU 7% 6% Zacatecas 1% Other 27% 21% Committed Investments by Category Commited Investme
Slide 23: Terminal A Expansion - Monterrey Airport Phase 1
MDP INVESTMENTS & MAXIMUM TARIFFS Expected start of operations TERMINAL A EXPANSION – MONTERREY AIRPORT Public Areas: PHASE 1: EXPANSION OF THE PUBLIC AREAS OF TERMINAL A AND CONSTRUCTION OF WING #1 West Side: Opened May 2022 East Side: 4Q23 Wing #1 Terminal C Wing #1: Public Area TA Terminal A West
Slide 24: Terminal A Expansion - Monterrey Airport Phase 2
MDP INVESTMENTS & MAXIMUM TARIFFS Expected start of operations TERMINAL A EXPANSION – MONTERREY AIRPORT PHASE 2: EXPANSION OF THE PUBLIC AREAS OF TERMINAL A AND CONSTRUCTION OF WING #2 Late 2025 Investment Wing #1 Wing #2 Ps. 2,735 mm General Expansion of Terminal A Terminal B Terminal A Total Area
Slide 25: Expansion and Remodeling - Culiacán Airport
MDP & MAXIMUM TARIFFS EXPANSION AND REMODELING – CULIACÁN AIRPORT Expected start of operations Early 2025 Investment Ps. 543 mm Total Area 2 2 12,128 m 26,187 m Terminal building, m2 +116% Commercial spaces, m2 +42% Capacity (millions of PAX) 1.9 3.6 +90% 25
Slide 26: Expansion and Remodeling - Ciudad Juárez Airport
MDP & MAXIMUM TARIFFS EXPANSION AND REMODELING – CIUDAD JUÁREZ AIRPORT Expected start of operations 2Q24 Investment Ps. 590 mm Total Area 2 2 6,245 m 13,144 m Terminal building, m2 +110% Commercial spaces, m2 +145% Capacity (millions of PAX) 0.9 2.1 26 +133%
Slide 27: Maximum Tariffs
MDP & MAXIMUM TARIFFS MAXIMUM TARIFFS Maximum Tariff Recovery Visibility on Tariffs (Maximum tariff per year1) New 2021-2025 MDP investment cycle 97.8% 99.0% 99.3% 94.5% 92.1% 89.5% 333 331 328 326 323 2017 2018 2019 2020 2021 2022 2021 2022 2023 2024 2025 1 Weighted average using 2019 passenger tra
Slide 28: Value Creation Strategy
GROWTH EXPECTATIONS VALUE CREATION STRATEGY Foster Passenger Traffic and Connectivity Diversification of Revenues Monterrey HUB 1 4 • • OMA Carga growth • Regional bases of operation • Industrial parks, real estate and hotel developments • International passenger development Maximum Tariff Recovery
Slide 29: Industry Trends
OUTLOOK & INDUSTRY INDUSTRY TRENDS Air Industry has Low Penetration in Mexico* Flights per capita per year 2.8 1.1 0.5 0.5 0.5 0.6 Brazil Perú Mexico Colombia Chile United States Projected Passenger Traffic CAGR 2019-2041* Domestic Traffic Terminal A – 4.5% 4.1% Monterrey Airport 2.9% 2.5% 2.1% 2.1%
Slide 30: Industry Capacity in Mexico
OUTLOOK & INDUSTRY Aeroméxico INDUSTRY CAPACITY IN MEXICO Interjet Volaris VivaAerobus Seat Capacity Fleet Others (thousands of available seats) (number of airplanes) +14% +5% +24% +21% 62 358 341 2.8% 34 54 34 297 5.1% 50 22.8% 36 26 66 12.6% 3.8% 21.2% 54 79 27.4% 114 35.7% 99 37.1% 67 19.6% 38.7%
Slide 31: Main Airlines' Expected Growth
OUTLOOK & INDUSTRY MAIN AIRLINES’ EXPECTED GROWTH Fleet Orders +20 aircrafts added in 2022 +5 aircrafts in 2023 Up to + 41 aircrafts in 2023-25 12 B737-8 A320 NEO 7 B737-9 MAX A321 NEO A320 NEO 1 Dreamliner 787-9 A321 NEO +40 by 2027 +41 by 2025 160 144 120 111 70 Aeromexico Volaris VivaAerobus 1Q20
Slide 32: Contact
Contact Chief Financial Officer Ruffo Pérez Pliego del Castillo rperezpliego@oma.aero +52.81.8625.4300 Investor Relations Luis Emmanuel Camacho Thierry ecamacho@oma.aero +52.81.8625.4308 Follow us on:
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. — Q1 2023 Earnings Presentation on 6ix