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 — Q4 2024 Earnings Presentation
39 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Feb 25, 2025
Slide 1: OMA Announces Fourth Quarter 2024 Operating and Financial Results
OMA Announces Fourth Quarter 2024 Operating and Financial Results Mexico City, Mexico, February 24, 2025 — 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
Slide 2: OMA
OMA
Slide 3: 4Q24 earnings conference call details
OMA will hold its 4Q24 earnings conference call on February 25, 2025 at 11:00 a.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 13751612. The conference call will also be available by webcast at:
Slide 4: 4Q24 Operating Results
4Q24 Operating Results Operations, Passengers, and Cargo The number of seats offered increased 3.3% compared to 4Q23. During the quarter, 28 routes started operations, of which 12 were domestic routes and 16 were international routes.
Slide 5: Total passenger traffic reached 7.1 million
Total passenger traffic reached 7.1 million passengers, an increase of 4.6% as compared to 4Q23. During the quarter, of total traffic, 84.9% was domestic and 15.1% was international. Domestic passenger traffic grew 1.5%, compared to 4Q23, while international traffic increased 26.4%.
Slide 6: Airports with the largest passenger traffic growth
The airports with the largest passenger traffic growth in volume terms as compared to 4Q23, were: § Monterrey (+9.1%), on its Santa Lucía (AIFA), Querétaro, Ciudad Juárez, Toluca and Hermosillo routes. § Acapulco (+44.8%), on its Tijuana, Guadalajara and Santa Lucía (AIFA) routes, whose growth is ma
Slide 7: Commercial Operations
Commercial Operations The commercial space occupancy rate in the passenger terminals was 95.9% as of December 31, 2024. Freight Logistics Services § OMA Carga’s revenues increased by 18.0%, as compared to 4Q23, due to an increase in revenues from the ground cargo operations in Monterrey. Hotel Servi
Slide 8: Industrial Services and Consolidated Financial Results
Industrial Services § OMA VYNMSA Aero Industrial Park: Revenues reached Ps.47.3 million, an increase of 130.8% versus 4Q23. The increase is mainly explained by a higher number of square meters leased as compared to 4Q23. Consolidated Financial Results Revenues Aeronautical revenues increased 11.1%.
Slide 9: Commercial activities revenues
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Slide 10: Diversification revenues increased 28.0%
Diversification revenues increased 28.0%, mainly due to higher revenues from Industrial Services and Hotel Services.
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 based on the advance in the execution of projects in accordance with the airports’ Master Deve
Slide 12: OMA
OMA
Slide 13: Major maintenance provision and concession tax
The major maintenance provision expense was Ps.39 million. The outstanding balance of the maintenance provision as of December 31, 2024 was Ps.2,284 million. The airport concession tax increased 97% to Ps.265.2 million, as a result of the change in the rate from 5% to 9% applied to the revenues gene
Slide 14: Costs and expenses
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Slide 15: Operating Income and Adjusted EBITDA
Operating Income and Adjusted EBITDA Operating Income was Ps.2,193 million, with an operating margin of 53.3%. Adjusted EBITDA was Ps.2,433 million, with a margin of 73.8%.
Slide 16: Adjusted EBITDA excluding concession tax; Financing Expense
*Excluding the incremental effect of the concession tax on aeronautical revenues, OMA's Adjusted EBITDA would have been Ps.2,532 million, with a margin of 76.7% during 4Q24. For the twelve months ended on December 31, 2024, Adjusted EBITDA would have been Ps.9,440 million, with a margin of 77.3% Fin
Slide 17: Consolidated net income in the quarter
Consolidated net income in the quarter was Ps.1,181 million, a decrease of 5.9% as compared to 4Q23. Earnings per share , based on net income of the controlling interest was Ps.3.07, and earnings per ADS was US$1.18. Each ADS represents eight Series B shares.
Slide 18: Net income and earnings per share table
(Ps. thousand) 4023 4q24 ar 2023 2024 Var Consolidated Net Income 1,254,756 1,180,731 (59) 5,020,426 4,936,224 (17) Net income margin % 33.8% 28.7% 34.7% 32.7% Non-controlling interest 3,199 (6,503) na. 8584 7A20 (13.6) Net income of controlling Interet 1251557 1,187,234 (5.1) 5,011,842 4,928,804 (1
Slide 19: MDP and Strategic Investments
MDP and Strategic Investments In 4Q24, capital investments and major maintenance works in the MDPs and strategic investments totaled Ps.951 million, comprised of Ps.816 million in improvements to concessioned assets, Ps.63 million in major maintenance, Ps.68 million in strategic investments and Ps.4
Slide 20: MDP investments by airport
statu: Airpc MDP Investments Monterrey ‘Supply and installation of HVAC in three buildings Started Torreén ‘Second phase of the Terminal Building expansion Started Culiacén ‘Supply and installation of air conditioning as part of the Terminal Building expansion Started Monterrey Supply, assembly, con
Slide 21: Debt schedule
(Ps. Thousands) Scheduled Interest Rate December 31, Maturity 20: 2024] Short Term Debt Credit Lines payable at maturity in May 2025; Ps. 600 mm May 2025 TIE + 60 bp : 600,000 Total Short-Term Debt : 600,000 Long-Term Debt S.yr Bond, Ps, 2,000 mm: OMA21V April 2026 TE 28 +75 bp 3,900,000 1,000,000 T
Slide 22: Derivatives and Cash Flow Statement
Derivatives As of the date of this report, OMA has no financial derivatives exposure. Cash Flow Statement During 4Q24, cash flows from operating activities generated cash of Ps.1,870 million. Investing activities used cash for Ps.846 million in the fourth quarter. Financing activities reflect mainly
Slide 23: Cash flow summary table
From October 1 to December 31, December 31, (Ps. Thousands) 202 2024 var 2024 Income Before Taxes 1,764,989 1,861,427 55 7,059,868 7,069,238 Items not affecting Operating Activities, net 488,644 598,856 226 1,965,484 2,029,536 33 Changes in operational assets and liabilities, net (552,772) (589,839)
Slide 24: Relevant Events
Relevant Events. OMA obtains Ps.600 million in short-term financing. In November 2024, OMA obtained short-term loans for an aggregate amount of Ps.600 million with three banks. Proceeds were used to support working capital needs and strengthen the company’s liquidity position. Loans mature until May
Slide 25: OMA
OMA
Slide 26: Passenger traffic by airport
(Terminal Passengers - Excludes Transit Passengers) Total Passengers 4023 4024 %Var 2023 2024 %Var Acapulco 107,401, 155,467 448 894,012 601,610 (32.7) Ciudad Juarez 569,866 556,361 (24) 2,275,153 (2,145,418 (67) Culiacan 625,281 585,114 (64) 2,612,249 2,240,084 (14.2) Chihuahua 494,535 476871 (36)
Slide 27: OMA
OMA
Slide 28: Statement of financial position
(Thousands of Pesos) December 31, December 31, %Var 2023 2024 Dec2a/Dec23 Assets Current Assets Cash and Cash Equivalents 2,576,256 1,656,365 (35.7) Trade Accounts Receivable - Net 1,298,399 1,845,965 422 ‘Trade Accounts Receivable from Related Parties 43,673 20,276 (53.6) Recoverable Taxes 385,351
Slide 29: OMA
OMA
Slide 30: Income statement
(Thousands of Pesos} 4023 4a24 %Var 2023 2024 Var Revenues Aeronautical Revenues 2,217,326 2,462,841 111 -8931,657 9,136,885 23 Non-Aeronautical Revenues 687,229 836,375 217.____2,627,423 3,075,881 wa Aeronautical Revenues + Non-Aeronautical Revenues 2,904,555 3,299,216 13.6 14,559,080 12,212,766 57
Slide 31: OMA
OMA
Slide 32: Statement of cash flows
(Thousands of Pesos) From October 1 to December 31, From January 4 to December 31, 2023 2024 Var. 2023 2024 Var. Operating Activities Income Before Taxes 1,764,989 1,861,427 55 7,059,868 7,069,238 on Depreciation and Amortization 171,548 201,062 172 641,343, 756,983, 180 Major Maintenance Provision
Slide 33: OMA
OMA
Slide 34: Statement of Changes in Stockholders' Equity
Grupo Aeroportuario del Centro Norte, S.A.B. de CV. Unaudited Statement of Changes in Stockholders’ Equity ‘As of December 31, 2023 (Thousand Pesos) ‘Additional Share Non- Total Number of capital stock Paid-in Retained Repurchase Labor Controlling Stockholder’s Shares Nominal capital Earnings Reserv
Slide 35: OMA
OMA
Slide 36: Unaudited Operating Results by Airport
Unaudited Operating Results by Airport (Thousands of Pesos) Monterrey 4023 4024 2023, 2024 Culiacén 4023 4024 2023, 2024 Total Revenues 3699311 ,977,277 6213633 6,850,633 ‘Total Revenues 315,216 323,612 1,383,779 1,214,729 ‘Aeronautical Revenues 2,055,951 1,248,595 4254275 4,501,253 ‘Aeronautical Re
Slide 37: 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 38: Analyst Coverage
Analyst Coverage In accordance with the requirements of the Mexican Stock Exchange, the analysts covering OMA are:
Slide 39: Forward-looking information disclaimer
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 — Q4 2024 Earnings Presentation on 6ix