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 — Q1 2023 Earnings Presentation
49 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 28, 2023
Slide 1: OMA Announces First Quarter 2023 Operating and Financial Results
OMA Announces First Quarter 2023 Operating and Financial Results Mexico City, Mexico, April 26, 2023 — Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), today reported its unaudited, consolidated financial and operating results for
Slide 2: 1Q23 Key Results Table
(Thousand Passengers and Million Pesos) 1Q22 Passenger Traffic A604 Aeronautical Revenues 1,393 sor OMCTORCURC OREN ERM ES werner creretnirnemeereneeannnecinertrwerememeinnngmenne tt res Aeronautical + Non-Aeronautical Revenues 1,874 eo OUSEIUCOR REV CRC ener erent SE te Total Revenues 2,206 1Q23 5,
Slide 3: 1Q23 Operating Results
OMA will hold its 1Q23 earnings conference call on April 27, 2023 at 12:00 p.m. Eastern time, 10:00 a.m. Mexico City time. Call +1-877-407-9208 toll-free from the U.S. or +1-201-493-6784 from outside the U.S. The conference ID is 13737845. The conference call will also be available by webcast at htt
Slide 4: Total passenger traffic reached 6.0 million
Total passenger traffic reached 6.0 million passengers, an increase of 29.9% as compared to 1Q22. During the quarter, of total traffic, 86.0% was domestic and 14.0% was international. Domestic passenger traffic increased 28.0%, compared to 1Q22, while international traffic increased 42.5%. The airpo
Slide 5: OMA
OMA
Slide 6: Commercial Operations
Commercial Operations The commercial space occupancy rate in the passenger terminals was 93.6% as of March 31, 2023. Freight Logistics Services ■ OMA Carga’s revenues increased by 13.6%, compared to 1Q22 due to an increase in the operation of higher commercial value cargo in handling, custody and st
Slide 7: Consolidated Financial Results
Consolidated Financial Results Revenues Aeronautical revenues increased 40.0% mainly due to an increase in passenger traffic, compared to 1Q22, as well as increases in aeronautical tariffs.
Slide 8: Non-aeronautical revenues increased
Non-aeronautical revenues increased 25.7%. Commercial revenues increased 35.5%. The line items with the largest increases were: ■ Parking, +58.1%, as a result of an increase in passenger traffic and higher penetration in the Monterrey Chihuahua and Reynosa airports, as well as higher turnover in sho
Slide 9: OMA
OMA
Slide 10: Diversification revenues increased
Diversification revenues increased 21.5%, mainly due to higher revenues from Hotel Services and OMA Carga.
Slide 11: Construction revenues
Construction revenues represent the value of improvements to concessioned assets. They are equal to construction costs and generate neither a gain nor a loss. Construction revenues and costs are determined
Slide 12: Construction revenues and MDP execution
based on the advance in the execution of projects in accordance with the airports’ Master Development Programs (MDP), and variations depend on the rate of project execution.
Slide 13: Costs and Operating Expenses
Costs and Operating Expenses The sum of cost of airport services and general and administrative expenses (G&A) increased 14.9%, mainly due to higher payroll costs, minor maintenance and contracted services.
Slide 14: The major maintenance provision
The major maintenance provision was Ps.76.6 million. The outstanding balance of the maintenance provision as of March 31, 2023 was Ps.2,077 million. The airport concession tax was Ps.119 million and the technical assistance fee was Ps.52 million. Total operating costs and expenses increased 45.3%.
Slide 15: OMA
OMA
Slide 16: Operating Income and Adjusted EBITDA
Operating Income and Adjusted EBITDA Operating Income was Ps.1,752 million, with an operating margin of 54.4%. Adjusted EBITDA was Ps.1,981 million, with a margin of 77.5%.
Slide 17: Financing Income and Net Income
Financing Income and Net Income Financing Expense was Ps.229 million, compared to Ps.165 million during 1Q22. The increase was mainly due to a higher interest expense as a result of a higher level of indebtedness and an increase in financing costs.
Slide 18: OMA
OMA
Slide 19: Consolidated net income in the quarter
Consolidated net income in the quarter was Ps.1,080 million, an increase of 43.5%. Earnings per share , based on net income of the controlling interest was Ps.2.79, and earnings per ADS was US$1.24. Each ADS represents eight Series B shares.
Slide 20: MDP and Strategic Investments
MDP and Strategic Investments In 1Q23, capital investments and major maintenance works in the MDPs and strategic investments totaled Ps.757 million, comprised of Ps.664 million in improvements to concessioned assets, Ps.32 million in major maintenance, Ps.60 million in strategic investments and Ps.1
Slide 21: OMA
OMA
Slide 22: Airport Project Status
Airport Project Status MDP Investments CiudadJudrez Expansion of commercial aviation platform Started Chihuahua Major rehabilitation of taxiway and commercial platform In Process Tampico Minor rehabilitation of platform and mayor rehabilitation of taxiway In Process Zihuatanejo Minor rehabilitation
Slide 23: Indebtedness
Indebtedness
Slide 24: Derivatives and Cash Flow Statement
Derivatives As of the date of this report, OMA has no financial derivatives exposure. Cash Flow Statement During 1Q23, cash flows from operating activities generated cash of Ps.1,276 million. Investing activities used cash for Ps.580 million in the first quarter. Financing activities reflect mainly
Slide 25: OMA
OMA
Slide 26: Relevant Events
Relevant Events OMA’s General Annual Ordinary Shareholders’ Meeting. On April 21, 2023, at the Shareholders’ Meeting, shareholders approved, among other matters, the payment of a cash dividend to shareholders of Ps.2,300,000,000.00 (Two billion three hundred million Pesos and 00/100) which will be p
Slide 27: OMA
OMA
Slide 28: Passenger Traffic
Grupo Aeroport io del Centro Norte, . de C. Passenger Traffic (Terminal Passengers - Excludes Transit Passengers) Total Passengers 1Q22 1Q23 % Var Acapulco 202,248 262,436 29.8 Ciudad Juarez 391,008 521,645 33.4 Culiacan 504,540 590,294 17.0 Chihuahua 322,823 428,751 32.8 Durango 106,138 112,866 6.3
Slide 29: Domestic Passengers
Domestic Passengers 1Q22 1Q23 % Var Acapulco 178,476 233,276 30.7 Ciudad Juarez 389,433 519,697 33.4 Culiacan 496,458 582,793 17.4 Chihuahua 299,912 398,889 33.0 Durango 86,882 90,086 3.7 Mazatlan 268,615 273,371 1.8 Monterrey 1,754,796 2,404,134 37.0 Reynosa 104,256 145,916 11.2 San Luis Potosi 81,
Slide 30: International Passengers
International Passengers 1Q22 1Q23 %Var Acapulco 23,772 29,160 22.7 Ciudad Juarez 1,575 1,948 23.7 Culiacan 8,082 7,501 (7.2) Chihuahua 22,911, 29,862 30.3 Durango 19,256 22,780 18.3 Mazatlan 95,911 143,814 49.9 Monterrey 247,893 396,471 59.9 Reynosa 1,736 1,185 (31.7) San Luis Potosi 40,137 48,113
Slide 31: OMA
OMA
Slide 32: Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. ed Consolidated Balance Sheet (Thousands of Pesos) nau March 31, December 31, March 31, %Var % Var 2022 2022 2023 Mar23/Mar22 Mar23/Dec22 Assets Current Assets Cashand Cash Equivalents 3,260,071 3,336,420 2,831,213 (13.2) (15.1) Trade Accounts Rec
Slide 33: Liabilities and Stockholder's Equity
Liabilities and Stockholder's Equity Current Liabilities Bank Debt Current Portion of Long-Term Debt Current Portion of Major Maintenance Provision Current Portion of Financial Leases Trade Accounts Payable Taxes and Accrued Expenses Accounts Payable to Related Parties Total Current Liabilities ===
Slide 34: OMA
OMA
Slide 35: Consolidated Statement of Comprehensive Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V Unaudited Consolidated Statement of Comprehensive Income (Thousands of Pesos) 1Q22 1Q23 % Nar Revenues Aeronautical Revenues 1,392,799 1,950,490 40.0 Non-Aeronautical Revenues 481,211 604,716 25.7 Aeronautical Revenues + Non-Aeronautical Revenues 1
Slide 36: Operating Income
Operating Income 1,196,485 1,752,488 46.5 Operating Margin (%) 54.2% 54.4% Financing (Expense) Income: Interest Income 37,087 87,032 134.7 Interest (Expense) (189,239) (301,609) 59.4 ND) ne nc oe Total Financing (Expense) Income (164,776) (228,578) 38.7 Income before Taxes 1,031,709 1,523,910 47.7 T
Slide 37: Weighted Average Shares Outstanding, EPS and EBITDA
Weighted Average Shares Outstanding 386,169,425 386,169,425 EPS (Ps.) 1.94 2.79 44.2 EPADS (USS) 0.78 1.24 58.3 EBITDA 1,327,091 1,904,776 43.5 EBITDA Margin (%) 60.2% 59.2% Adjusted EBITDA 1,409,226 1,981,399 40.6 Adjusted EBITDA Margin (%) 75.2% 77.5%
Slide 38: OMA
OMA
Slide 39: Consolidated Cash Flow Statement
Grupo Aeroport io del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Stateme: (Thousands of Pesos) From January 1 to March 31, 2022 2023 % Var. Operating Activities Ancome Before Taxes 0 081,709 1,523,910 47.7 Depreciation and Amortization 130,606 152,288 16.6 Major Maintenance Provis
Slide 40: Investment and Financing Activities
Investment Activities Acquisition of Property, Plant and Equipment (18,520) (84,404) 355.7 Investment in Airport Concessions (258,512) (582,445) 125.3 Other Long-Term Assets (9,589) - (100.0) Proceeds from Sale of Land, Machinery and Equipment 4 2 (45.9) Interest income _37,087 ; 87,032 134.7 . Net
Slide 41: OMA
OMA
Slide 42: Statement of Changes in Stockholders' Equity
Additional Share Non- Total Number of Capital stock Paid-in Retained Repurchase Labor Controlling Stockholder's Shares Nominal Capital Earnings Reserve Obligations Interest Equity Balance as of December 31, 2021 386,169,425 297,782 29,786 9,702,141 1,028,188 (1,936) 182,271 11,238,232 Dividends Paid
Slide 43: OMA
OMA
Slide 44: Unaudited Operating Results by Airport
Grupo Ae: del Centro Norte, S.A.B. de C.V. Monterrey 1Q22 1Q23 Total Revenues 845,536 1,257,370 Aeronautical Revenues 555,163 856,566 Non-Aeronatical Revenue 158,202 181,766 Construction Revenues 132,172 219,038 Income from Operations 128,640 390,544 EBITDA 166,239 441,752 Chihuahua Total Revenues 1
Slide 45: Operating Results by Airport (continued)
Mazatlan Total Revenues 175,354 225,814 Aeronautical Revenues 124,238 166,713 Non-Aeronatical Revenue 14,644 18,224 Construction Revenues 36,472 40,876 Income from Operations 25,044 98,567 EBITDA 30,097 104,121 Zihuatanejo Total Revenues 98,902 129,513 Aeronautical Revenues 69,381 80,418 Non-Aeronat
Slide 46: Subsidiary Results
Consorcio Grupo Hotelero T2 a) Revenues 49,442 64,286 Income from Operations 14,884 18,593 EBITDA 24,956 30/392 OMA VYNMSA Aero Industrial Park Revenues 19,659 21,813 Income from Operations 10,281 8,980 EBITDA 17,813 19,590 Consorcio Hotelero Aeropuerto Monterrey (a) Revenues 18,487 28,104 Income fr
Slide 47: Notes to the Financial Information
Notes to the Financial Information Financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”), and presented in accordance with IAS 34 “Interim Financial Reporting.” For more information, please refer to our Quarterly Financial Information submitted to
Slide 48: Analyst Coverage
Analyst Coverage In accordance with the requirements of the Mexican Stock Exchange, the analysts covering OMA are:
Slide 49: Forward-looking statements
This report 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 statements may be
Central North Airport Group — Q1 2023 Earnings Presentation on 6ix