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 2012 Earnings Presentation
19 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 27, 2012
Slide 1: Passenger traffic increased 7.6% to 2.9 million in 1Q12
■ Passenger traffic increased 7.6% to 2.9 million in 1Q12; domestic traffic increased 10.1%, while international traffic decreased 2.5%. Seven of our airline clients had traffic growth in the quarter. ■ Aeronautical revenues increased 22.3% principally as the result of the growth in passenger traffi
Slide 2: Investor relations contacts
# > José Luis Guerrero Cortés — » Daniel Wilson eS Q) OMA, CFO Zemi Communications +52.81.8625.4300 ext. 308 +1.212.689.9560 ext. 264 Is MAB jlguerrero @oma.aero dbmwilson@zemi.com ICAI _ye @ Bursa QMAB iy SOCIALMENTE NASDAQ Atnovoiis pe paris SOOALMENTE NASDAQ
Slide 3: Flight operations and passenger traffic
The total number of flight operations (takeoffs and landings) increased 2.7%, to 82,977 operations. Domestic flight operations increased 2.8%, and international operations increased 2.1%. Total passenger traffic increased 7.6% (+204,129) terminal passengers). Traffic increased most in the Monterrey
Slide 4: International passenger traffic increased 2.5%
International passenger traffic increased 2.5%. Nine airports had increases in international traffic. The most significant increases were in Monterrey (+15.8%) with increases from the routes to San Antonio and Panama; Zacatecas (+78.2%) with an increase on the Chicago route; and San Luis Potosi (+36
Slide 5: Detail of commercial initiatives implemented in OMA Airports
Detail of commercial initiatives implemented in OMA Airports Airport Type Quantity Mazatlan Passenger service * 1 Acapulco ‘Commer cial Space 1 Tampico Advertizing 1 Acapulco Passenger service * 1 Reynosa Passenger service * 2 All Airports Passenger service * 13 Monterrey Passenger service * 1 Ciuda
Slide 6: Aeronautical revenues increased 22.3%
Aeronautical revenues increased 22.3% to Ps. 481 million. Domestic passenger charges increased 25.9% principally as a result of tariff increases in 2011 under the maximum rate agreement and increased domestic traffic. International passenger charges increased 31.6%, principally as a result of exchan
Slide 7: Non-aeronautical revenues increased 11.9%
Non-aeronautical revenues increased 11.9%, principally because of increased occupancy of the airport parking lots and the increase in NH T2 hotel revenues. NH T2 hotel revenues increased 15.1% to Ps. 38 million. Room rental was 81.0% of hotel revenues, food and beverages 16.0%, and other services 3.
Slide 8: Costs and operating expenses
Costs and operating expenses Total cost of services and general and administrative expenses, excluding the maintenance provision, construction costs, and hotel costs and expenses, increased 9.2%, principally because of higher electricity rates and the security services contract negotiated last year.
Slide 9: Concession tax, technical assistance fee and depreciation
The airport concession tax increased 23.2% because of the growth in revenues. The technical assistance fee increased 19.9%, in line with the increase in EBITDA generated by the airports. Depreciation and amortization increased 14.8%, principally as a result of increased investments, including the ex
Slide 10: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA was Ps. 350 million in 1Q12, an increase of 28.6%. The Adjusted EBITDA margin was 55.3%. OMA calculates Adjusted EBITDA as shown in the table below. The Adjusted EBITDA margin is calculated against the sum of aeronautical and non-aeronautical reve
Slide 11: Adjusted EBITDA reconciliation table
(Ps. thousands) 1911 1912 %Var Net income 115,836 183,890 58.7 plus: Comprehensive Financing cost 16,319 (8,409) (151.5) Income Taxes 60,188 88,989 47.9 Operating income 192,344 264,469 37.5 Operating margin % 30.4% 37.5% plus: Depreciation and amortization 39,110 44,898 14.8 EBITDA 231,453 309,368
Slide 12: Comprehensive financing income and income tax
Comprehensive financing income (expense) was income of Ps. 8 million in 1Q12, as compared to an expense of Ps. 16 million in 1Q11. The result is principally because of lower interest expense and an exchange gain resulting from the appreciation of the peso and the accounting effect on dollar-denomina
Slide 13: Net income and capital expenditures
Consolidated net income and Net income of controlling interest each increased 59% to Ps. 184 million. The increases resulted from the combination of higher operating income and the exchange gain. Earnings per share were Ps. 0.46, and earnings per ADS were US$0.26 per ADS. Each ADS represents eight S
Slide 14: Passenger Traffic
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Passenger Traffic (erminal passengers-excludes transit passengers) Total Passengers 4011 1012s Var “Acapuico 186,837 152,668 (18.3) Ciudad Juarez 138,422 163,584 18.2 Culiacén 243,443 262,977 8.0 Chiuahua 168,629 186,540 10.6, Durango 49,416 57,73
Slide 15: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of pesos) March 31 March 31 % Var 2010 2012 Asset Current assets Cash and cash equivalents 273,866 834,071 204.6 Trade Accounts receivable net 255,916 297,441 16.2 Trade Accounts receivable from rela
Slide 16: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of pesos) 1011 1012 %Var Revenues Aeronautical services 393,596 481,197 22.3 Non-aeronautical services 135,964 152,159 11.9 Construction services 102,219 T1145 (80.4) Totai revenues 631,779 704
Slide 17: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement (Thousands of pescs) Through March 31, 2011 12 Var. ‘Operating acti Income before taxes 176,024 72,878_——55.0 Items related to investing activities Depreciation andamor tization 39,110 44898 14.8 Interest
Slide 18: Unaudited Statement of Changes in Stockholders' Equity
Grupo Aeroportuario del Centro Norte, §.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity For the three months ending on March 31, 2012 (thousand pesos) Additional Reserve for Non- Total Number of Capital stock paid in Retained repurchase controlling stockholder's Shares Nominal ca
Slide 19: Unaudited Operating Results by Airport
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Operating Results by Airport, ‘Thousand passengers and thousand pesos Monterrey o o Acapulco o o Total passengers 7,205.8 1,288.8 Total passengers 186.8 152.7 Total Revenues 283,188 289,163 Total Revenues 43,971 38,607 ‘Aeronautical serv
Central North Airport Group — Q1 2012 Earnings Presentation on 6ix