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 — Q3 2011 Earnings Presentation
22 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Oct 27, 2011
Slide 1: OMA Announces Third Quarter 2011 Earnings
OMA Announces Third Quarter 2011 Earnings Monterrey, Mexico, October 26, 2011 – 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 third quarter of 2011 today. 1 OMA’s third quarter 2011 results
Slide 2: 3Q11 Highlights
■ Passenger traffic increased 1.9% to 3.2 million in 3Q11; domestic traffic increased 3.3% while international traffic decreased 6.9%. ■ The sum of aeronautical and non-aeronautical revenues grew 13.7%. Total revenues, including construction revenues, increased 1.5% to Ps. 686 million. ■ Aeronautica
Slide 3: Contact details
> 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 ICA _w @ PRE ae Atnovoiig pe pans RESPONSABLE
Slide 4: Passenger Traffic, flight operations, and cargo volumes
Passenger Traffic, flight operations, and cargo volumes The total number of flight operations (takeoffs and landings) decreased 1.4%, to 84,169 operations. Domestic flight operations decreased 0.7%, and international operations increased 6.4%. Total passenger traffic increased 1.9% (+58,077) termina
Slide 5: International traffic decreased 6.9%
International traffic decreased 6.9%. Six airports had increases in international traffic. The most significant increases were in Mazatlán (+9.2%) and Tampico (+6.1%). Mazatlán benefited from increased traffic on the Dallas route. Tampico had an increase on the Houston route. Seven airports had redu
Slide 6: NH Terminal Hotel Operations
NH Terminal 2 Hotel Operations The NH T2 hotel in Mexico City had an average occupancy rate of 85.3%, as compared to 70.7% in 3Q10. The occupancy rate of the hotel continued to increase as a result of advertising and marketing initiatives. The average room rate was Ps. 1,330 per night, as compared t
Slide 7: Aeronautical revenues increased 12.3%
Aeronautical revenues increased 12.3% to Ps. 497 million. Domestic passenger charges increased 21.6% as a result of tariff increases and increased traffic. However, international passenger charges decreased 1.6% as a result of lower international traffic. Aeronautical revenue per passenger increased
Slide 8: Non-aeronautical revenues increased 18.5%
Non-aeronautical revenues increased 18.5%, largely because of an increase in NH T2 hotel revenues and commercial and advertising initiatives in 10 of our airports. NH T2 hotel revenues increased 36.2% to Ps. 37 million. Room rental was 80.3% of hotel revenues, food and beverages 16.1%, and other ser
Slide 9: Costs and operating expenses
Costs and operating expenses Total cost of services and general and administrative expenses decreased 22.9%, principally because of the provision for doubtful accounts resulting from the suspension of operations of Grupo Mexicana registered in 3Q10.
Slide 10: Construction costs, concession tax and technical assistance fee
Construction costs are equal to construction revenues, and represent improvements and additions to concessioned assets carried out during the quarter. The Airport concession tax increased from 3Q10 because of the growth in revenues; this tax is equal to 5% of gross revenues. The technical assistance
Slide 11: EBITDA, Adjusted EBITDA, and Operating Income
EBITDA, Adjusted EBITDA, and Operating Income EBITDA was Ps. 297 million in 3Q11. The increase as compared to 3Q10 was principally because of the increased revenues and the Grupo Mexicana provision for doubtful accounts recorded in 3Q10. Adjusted EBITDA was Ps. 339 million in 3Q11, an increase of 11
Slide 12: EBITDA and Adjusted EBITDA reconciliation (Ps. thousands)
(Ps. thousands) Net Income plus: Comprehensive Financing cost Income Taxes Operating income Operating margin % plus: Depreciation and amortization EBITDA minus: Construction revenue plus: Construction expense Maintenance provision Adjusted EBITDA Adjusted EBITDA margin: Adjusted EBITDA | (Aeronautic
Slide 13: Comprehensive financing expense and bond placement
Comprehensive financing expense was Ps. 58 million in 3Q11, compared to Ps. 17 million in 3Q10. The increase reflects the treatment of interest expense for the construction of the Monterrey Terminal B. During the 2010 period, interest was capitalized as the project was completing the construction ph
Slide 14: Consolidated net income
Consolidated net income was Ps. 139 million, as compared to Ps. 88 million in 3Q10. The increase resulted principally from higher revenues and the effect of the Grupo Mexicana provision recorded in 3Q10. Net income of controlling interest was Ps. 139 million, as compared to Ps. 89 million in 3Q10. E
Slide 15: Passenger Traffic by airport
Grupe Aeroportuario del Centro Norte, 5.A.B. de C.V. Passenger Traffic (Terminal passengers-excludes transit passengers) Total Passengers 39.10 301% Var M10 omit %Var “Acapulco 170,998 735,830 (20.6) 583,717 453,516 (223) Ciudad Juarez 176,229 189,212 74 481,887 498,135 34 Cufacén 272,459 276,207 14
Slide 16: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of pesos) September 30 December31 September30 %Var %Var 2010 2010 2011 3011 vs 30103011 vs 4010 Assets Current assets Cash and cash equivalents 394,783 312,838 569,876 44.4 82.2 Trade Accounts receiv
Slide 17: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of pesos) 39.10 3011 %Var 910 OM 11 %Var Revenues Aeronautical services 442,491 496,829 12.3 1,255,331 1,343,039 7.0 Non-aeronautical services 126,107 149,428 18.5 353,120 424,611 20.2 Construc
Slide 18: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement (Thousands of pesos) Through September 30, 2010 a Var. Operating activities Income before taxes 501,988 560,769, 11.7 Items related to investing activities Depreciation and amortization 110,465 124,341 9.
Slide 19: Statement of changes in stockholders' equity
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Slide 20: Unaudited Operating Results by Airport
Unaudited Operating Results by Airport ‘Thousand passengers and thousand pesos Monterrey 3Q10 3Q11__ Acapulco 3q10 3911 Totalpassengers 1,515.8 1,566.4 Totalpassengers 171.0 135.8 TotalRevenues 307,961 329,531 TotalRevenues, 42,324 28,434 Acronauticalservices 207,083 233,765 Acronauticalservices 26,
Slide 21: Balance Sheet IFRS adoption effects (Ps. thousands)
(Ps. thousands) Balance Sheet Investment in concessions Land, buildings, machinery and equiprent- net Taxes and acumulated expenses Enployee benefits Other long termliabitities Deferred taxes Retained earnings IFRS adoption accumulated effect Non-controling interest in consolidated subsidiaries MERS
Slide 22: Changes in accounting policies under IFRS
The principal changes in accounting policies and their effects on the balance sheet and income statement are as follows. Investment in Airport Concessions: Effects of inflation: In accordance with IFRS, the effects of inflation are recognized when accumulated inflation during the prior three years r
Central North Airport Group — Q3 2011 Earnings Presentation on 6ix