Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q2 2023 Earnings Presentation
31 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Jul 31, 2023
Slide 1: Second Quarter Results
Second Quarter Results Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. July 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 6M23 | Cont
Slide 4: About the Company
COMPANY OVERVIEW 13 Airports ABOUT THE COMPANY In the central-north region of Mexico, serving 25.3 million passengers in LTM June 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 • Hi
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 Capitalization2 Ps. Bn. $71.0 / USD Bn. $4.1 Float 70.01% Note: As of June 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 25.3 Non-Aeronautical Revenues 16000.0 26.00 23.2 23.2 25.00 21.6 24.00 Aeronautical Revenues 23.00 19.7 22.00 18.8 21.00 18.0 20.00 19.00 18.00 12000.0 14.7 17.00 13.3 10,519 16.00 15.00 9,285 14.00 13.00 23% 12.00 11.00 7,572 11.1 24%
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 Part of the 2023 Bloomberg Gender-Equality Index, as Governa
Slide 10: Sustained Traffic Growth
AERONAUTICAL BUSINESS SUSTAINED TRAFFIC GROWTH 2019 2022 2023 Domestic International Thousands of Passengers Thousands of Passengers 5,867 5,139 5,307 5,241 4,369 4,015 840 744 763 651 639 589 1Q 2Q 1Q 2Q +28.0% vs 2022 +11.9% vs 2022 +42.6% vs 2022 +19.4% vs 2022 +17.6% vs 2019 +10.6% vs 2019 +12.9
Slide 11: Top Routes Performance
AERONAUTICAL BUSINESS TOP ROUTES PERFORMANCE Top 10 Routes 6M23 Main Market Served Business Leisure 13.1% VFR (Visiting Friends & Relatives) 6.1% 4.0% 4.0% 3.5% 3.0% 2.4% 2.2% 2.1% 2.1% Monterrey - Monterrey - Monterrey - Culiacan - Ciudad Juarez Chihuahua - Monterrey - Mazatlan - Acapulco - Culiaca
Slide 12: Airline Participation 6M23
AERONAUTICAL BUSINESS AIRLINE PARTICIPATION 6M23 Total Passengers 12.6 mm Domestic Passengers International Passengers 87% 13% +35% +28% +25% +9% +25% +9% +43% -3% +27% -21% +21% -1% +21% +32% +54% Others; 2% +17% +21% -39% 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 +14.5% 9,00 Aeronautical Revenue Ps. (mm) 8,078 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 20
Slide 14: Non-Aeronautical Revenue Solid Performance
NON-AERONAUTICAL BUSINESS NON-AERONAUTICAL REVENUE SOLID PERFORMANCE Non-Aeronautical Revenue Complementary Activities Ps. (mm) +9.5% 2,441 Baggage screening system and leasing of non-essential space to airlines. 2,230 15% 16% 1,820 1,653 Diversification Activities 1,625 16% 33% 1,456 16% 18% 34%
Slide 15: Commercial Strategy
NON-AERONAUTICAL BUSINESS COMMERCIAL Incorporation of innovative advertising STRATEGY Development of premium offer OMA has a commercial area of approximately 23,200 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 30% Commercial Revenues 18% Commercial Revenues 18% Commercial Revenues 12% 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 13% of NAR 4% of NAR | 134 Rooms 10% of NAR | 287 Rooms Revenues: -5.8% vs 2Q22 Avg. Room Rate: Ps.2,521 per night Avg. Room Rate: Ps.2,416 per night Tons handled: 8,524 (vs -16.0% in 2Q22) Occupancy Rate:
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 Diversification Revenues 90 17% 96 96 100 Commercial Revenues 92 16% 15% 70 79 18% 80 74 75 71 16% 16% 16% 34% 60 61 16% 34% 33% 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 280 .000 2013-LTM Jun23 +10.3% Total Operating Costs and Expenses/ Passenger 1 260 .000 (Index 100=2013) Cost Control Strategy 240 .000 +16% • Developme
Slide 20: Balance Sheet
FINANCIAL RESULTS BALANCE SHEET Strong Financial Position* Low Leverage (Ps.mm) (Net Debt/Adjusted EBITDA) 1.0 1.1 1.0 0.9 0.8 10,869 0.7 8,863 0.5 0.5 0.3 0.4 0.3 2,006 Total Debt Cash Net Debt 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 LTM Jun23 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 6.2 4.4 4.2 4.5 4.3 4.2 3.9 580 - 156 147 117 96 75 80 56 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 1 Dividend yield was calculated with the s
Slide 22: MDP Investments 2021-2025
MDP & MAXIMUM TARIFFS MDP INVESTMENTS 2021-2025 Committed Investments by Airport Total Committed Investment* Ps. 16,480mm %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: 1Q24 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 22,128 m Terminal building, m2 +82% 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 7,356 m 15,088 m Terminal building, m2 +107% Commercial spaces, m2 +93% Capacity (millions of PAX) 1.0 2.1 26 +110%
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 Growth of Aeronautical R
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: 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. — Q2 2023 Earnings Presentation on 6ix