Corporacion America Airports Sa · NYSE:CAAP

Corporacion America Airports Sa — Q1 2023 Earnings Presentation

22 slides from Corporacion America Airports Sa's earnings presentation, May 24, 2023

  1. Slide 1: First Quarter 2023 Earnings Call Presentation

    First Quarter 2023 Earnings Call Presentation

  2. Slide 2: Disclaimer and Forward-Looking Statement

    First 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 Adj. EBITDA at $141M, passenger traffic at 90% of pre-pandemic levels

    First Quarter 2023 Record Adj. EBITDA at $141 M, 20% above 1Q19, with passenger traffic at 90% of pre-pandemic levels ► 1Q23 Total revenues ex-IFRIC up 16% vs. 1Q19, driven by traffic recovery and commercial revenue growth ► Positive Adjusted EBITDA across all geographies, with consolidated Adjusted

  4. Slide 4: Passenger traffic at 90% vs 1Q19 driven by Argentina, Ecuador and Armenia

    First Quarter 2023 Passenger traffic at 90% vs 1Q19 driven by solid performance in Argentina, Ecuador and Armenia Passenger Traffic Monthly Performance (vs. 2019) Passenger Traffic by Country 12.0 11.1 (In millions) 100% 10.3 92% 10.0 88% 87% 87% 90% 88% 90% 85% 83% 8.0 80% 78% 79% 7.1 76% 74% 69% 6

  5. Slide 5: Cargo volume at 81% vs pre-pandemic levels

    First Quarter 2023 Cargo volume at 81% vs pre-pandemic levels Monthly Cargo Volume Cargo Volume by Country (in Thousand Tons) (in Thousand Tons) 45.0 60.0 56.1 40.0 50.0 43.1 43.6 40.0 35.0 30.0 30.0 23.5 20.0 16.0 25.0 14.0 11.3 9.2 10.0 6.4 7.0 7.0 7.9 7.2 3.1 3.9 3.4 3.6 3.7 20.0 Jan Feb Mar Apr

  6. Slide 6: Continued strong Commercial Revenue growth boosts topline expansion

    First Quarter 2023 Continued strong Commercial Revenue growth boosts topline expansion; Aeronautical Revenues ► 1Q23 Total revenues ex-IFRIC up return to pre-pandemic levels 43% YoY and up 16% vs 1Q19 levels Net Revenue by type ► Aeronautical revenues up 56% YoY (ex-IFRIC; in US$ million) reaching 1

  7. Slide 7: Costs & Expenses aligned with higher activity, but below revenue growth

    First Quarter 2023 Costs & Expenses aligned with higher activity, but ► 1Q23 Total Costs and Expenses ex- below revenue growth IFRIC up 28% YoY (below the 43% increase in revenues), and up 11% vs. Total Costs and Expenses 1Q19 (below the 16% increase in (ex-IFRIC; in US$ million) revenues) ► Cost of

  8. Slide 8: Adjusted EBITDA of $141M in 1Q23; Margin ex-IFRIC12 reaching 40%

    First Quarter 2023 Adjusted EBITDA of $141M in 1Q23; Margin ex-IFRIC12 reaching 40% driven by growth across all geographies 36% 40% 39% 40% Adjusted EBITDA Margin Ex- IFRIC12 ► 1Q23 Adj. EBITDA up 58% vs 1Q22 and up 20% vs 1Q19 ► 1Q22 Adj. EBITDA margin ex-IFRIC12 of 40% vs 36% in 1Q22 and 39% in 1Q

  9. Slide 9: Cash Flow highlights

    First Quarter 2023 Cash Flow highlights Cash Provided by Operating Activities: $60 M ► Total liquidity position increased slightly to $455 M as of March 31, 2023 from $452 as of year end 2022 ► Cash from operating activities was positive in all operating subsidiaries, except in Italy 09

  10. Slide 10: Healthy debt maturity profile; Net Leverage Ratio declined to 2.1x

    First Quarter 2023 Healthy debt maturity profile; Net Leverage Ratio declined further to 2.1x Debt Maturity Profile (interest and principal payments) Total Debt Breakdown by Country (Mar 31, 2023; US$ Million) 1% Total 861 1% (Mar 31, 2023) Liquidity 19% Position Argentina 455 Italy 223 188 185 49%

  11. Slide 11: State of the art new departures terminal inaugurated at Ezeiza Airport

    First Quarter 2023 State of the art new departures terminal inaugurated at Ezeiza Airport ► Most modern terminal in Latin America ► Capacity to serve 30 million passengers annually ► Over 50,000 square meters equipped with 150 check- in counters and state of the art technology to facilitate passenge

  12. Slide 12: Closing Remarks

    Closing Remarks

  13. Slide 13: First Quarter 2023 Closing Remarks

    First Quarter 2023 ► Reported a strong quarter with record Adjusted EBITDA and bottom line back to pre- pandemic, even with passenger traffic at 90% of 1Q19 levels ► Significant increase in Revenue per pax vs 2019 ($18.8 vs $14.6) ► Inauguration of the new Ezeiza state-of-the art departures terminal

  14. Slide 14: Questions & Answers

    : = = ‘ . az! " —— =o ome. + ae “te ae | = are — ag es er Te - = lt Te — oe Questions & Answers

  15. Slide 15: Exhibits: Business and Financial Review of Key Countries of Operations

    Exhibits: Business and Financial Review of Key Countries of Operations

  16. Slide 16: Argentina: Strong financial performance fueled by commercial and aeronautical revenue

    First Quarter 2023 Argentina: Strong financial performance fueled by commercial and aeronautical revenue growth above 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)

  17. Slide 17: Italy: Commercial revenue and traffic growth driving positive Adjusted EBITDA

    First Quarter 2023 Italy: Commercial revenue and traffic growth driving positive Adjusted EBITDA. 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) -7% -20% -20% 6% nm 7% +62% +28% -3% 1.

  18. Slide 18: Brazil: Passenger traffic impacted by higher airfares

    First Quarter 2022 Brazil Passenger traffic impacted by higher airfares. Topline growth above costs drove Adjusted EBITDA expansion Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million) ( in US$ million) in US$ million) -16% -17% -34% 10% 16% 3

  19. Slide 19: Uruguay: Strong Cargo Activity driving revenue growth

    First Quarter 2023 Uruguay: Strong Cargo Activity driving revenue growth. Traffic impacted by weaker than expected summer season 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) -17% -2%

  20. Slide 20: Armenia: Traffic growth of 83% YoY, commercial revenues more than doubled

    First Quarter 2023 Armenia: Traffic growth of 83% YoY and 81% above Pre-Pandemic levels. Commercial revenues more than doubled 1Q19 driven by strong fuel activity Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ million) (ex-IFRIC; in US$

  21. Slide 21: Ecuador: Strong traffic growth and Adjusted EBITDA margin expansion

    First Quarter 2023 Ecuador: Strong traffic growth benefitting from increased number of domestic and international flights. Adjusted EBITDA margin expansion of 5.2 p.p vs pre-pandemic levels Passenger traffic Net Revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (in US$ million)

  22. Slide 22: IR Contact

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

Corporacion America Airports — Q1 2023 Earnings Presentation on 6ix