Corporacion America Airports Sa · NYSE:CAAP

Corporacion America Airports Sa — Q1 2025 Earnings Presentation

21 slides from Corporacion America Airports Sa's earnings presentation, May 23, 2025

  1. Slide 1: First Quarter 2025 Earnings Call Presentation

    CORPORACION AMERICA AIRPORTS → OPENING REMARKS → KEY HIGHLIGHTS → TRAFFIC & FIRST QUARTER → CARGO TRENDS 2025 FINANCIAL TRENDS → CLOSING REMARKS EARNINGS CALL PRESENTATION → Q&A MAY 23, 2025 → APPENDIX

  2. Slide 2: Disclaimer and Forward-Looking Statement

    CORPORACIÓN AMÉRICA AIRPORTS 2 Disclaimer and Forward-Looking Statement Statements relating to our future plans, projections, events or fees we may charge under our concession agreements, inflation, prospects are forward-looking statements within the meaning of depreciation and devaluation of the AR

  3. Slide 3: Positive start to the year with passenger traffic up 7.3% YoY

    CORPORACIÓN AMÉRICA AIRPORTS 3 Positive start to the year with passenger →Passenger traffic (PAX) up 7.3% YoY in 1Q25 (or up 9.4% ex-Natal) traffic up 7.3% YoY fueled by strong • International up 12.6% YoY; Argentina up 21.0% YoY • Domestic up 4.0% YoY (or 7.7% ex-Natal); Argentina up 9.0% YoY perfo

  4. Slide 4: Strong passenger traffic growth fueled by Argentina, Italy, and Brazil (ex-Natal)

    CORPORACIÓN AMÉRICA AIRPORTS 4 Strong passenger traffic growth fueled →Total Passenger traffic up by Argentina, Italy, and Brazil (ex-Natal) 7.3% YoY, or 9.4% YoY when excluding Natal →International up 12.6% YoY, mainly driven by growth in Argentina (+21.0%) and Italy Monthly Passenger Traffic Passe

  5. Slide 5: Cargo volumes up 9% YoY supported by growth in Argentina, Uruguay, Armenia and Italy

    CORPORACIÓN AMÉRICA AIRPORTS 5 Cargo volumes up 9% YoY supported by growth in Argentina, Uruguay, Armenia and Italy →Strong contributions from Argentina, Brazil and Armenia, which together accounted for almost 80% of the total cargo volume in the quarter Monthly Cargo Volume Cargo Volume by Country

  6. Slide 6: Topline up 6% with positive contributions from most countries of operations

    CORPORACIÓN AMÉRICA AIRPORTS 6 Topline up 6% with positive contributions from most countries of operations (or up 11.5% ex-IAS29) Revenue by type – vs 1Q24 →Total Revenues ex-IFRIC12 up 6.4% YoY, or up 11.5% ex (ex-IFRIC12; in US$ million) IAS29 (vs. traffic growth of 7.3%) →Aeronautical revenues up

  7. Slide 7: Costs & expenses up 18% due to higher activity and inflationary pressures in Argentina

    CORPORACIÓN AMÉRICA AIRPORTS 7 Costs & expenses up 18% due to higher activity and inflationary pressures in Argentina Total Costs and Expenses – vs 1Q24 →Total Costs and Expenses ex-IFRIC12 up 17.7% YoY (ex-IFRIC12; in US$ million) →Costs of Services up 15.8% YoY mainly driven by higher Maintenance

  8. Slide 8: Adjusted EBITDA down 4.6%, or up 4% ex IAS29

    CORPORACIÓN AMÉRICA AIRPORTS 8 Adjusted EBITDA down 4.6%, or up 4% ex IAS29 →Adj. EBITDA Ex-IFRIC12 down 4.6% YoY to $156M, or up 4.0% YoY ex Adjusted EBITDA – vs 1Q24 IAS29, with positive YoY performances in Argentina, Uruguay and Ecuador. Key drivers were: (ex-IFRIC12; in US$ million) →Argentina:

  9. Slide 9: Cash flow generation with solid total liquidity at $524 million

    CORPORACIÓN AMÉRICA AIRPORTS 9 Cash flow generation with solid total liquidity at $524 million; positive operating cash flow across all operating subsidiaries, except for Italy and Ecuador Cash Flow – YTD (in US$ million) →Total liquidity position of $524M as of March 31, 2025, slightly down from $5

  10. Slide 10: Solid financial position with a net leverage ratio of 1.1x

    CORPORACIÓN AMÉRICA AIRPORTS 10 Solid financial position with a net leverage ratio of 1.1x and a healthy debt maturity profile Debt Maturity Profile (interest and principal payments) Total Debt Breakdown by Country (March 31, 2025; US$ Million) (March 31, 2025) Total Liquidity Position Italy Argenti

  11. Slide 11: Closing Remarks

    CORPORACIÓN AMÉRICA AIRPORTS 11 CLOSING REMARKS

  12. Slide 12: All countries delivered passenger traffic growth, strong in Argentina, Italy and Brazil

    CORPORACIÓN AMÉRICA AIRPORTS 12 →All countries delivered passenger traffic growth, with particularly strong dynamics in Argentina, Italy and Brazil (ex-Natal) • Argentina and Montevideo airport reached all-time high passenger traffic in January →Adjusted EBITDA ex-IAS29 up 4% YoY, supported by Argen

  13. Slide 13: Q&A

    CORPORACIÓN AMÉRICA AIRPORTS 13 Q&A

  14. Slide 14: Business and Financial Review of Key Countries of Operations

    CORPORACIÓN AMÉRICA AIRPORTS 14 Business and Financial Review of Key Countries of Operations

  15. Slide 15: Argentina: Strong PAX growth reaching an all-time high in Jan'25

    CORPORACIÓN AMÉRICA AIRPORTS 15 Argentina: Strong PAX growth reaching an all-time high in Jan’25; Adjusted EBITDA impacted by inflationary pressures outpacing currency depreciation Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRI

  16. Slide 16: Italy: Passenger traffic up 10% YoY; Adjusted EBITDA impacted by marketing support

    CORPORACIÓN AMÉRICA AIRPORTS 16 Italy: Passenger traffic up 10% YoY; Adjusted EBITDA impacted by higher marketing support in the quarter Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (ex-IFRIC; in US$ million) million

  17. Slide 17: Brazil: Traffic ex-Natal up 5.4% YoY; Results impacted by BRL depreciation

    CORPORACIÓN AMÉRICA AIRPORTS 17 Brazil: Traffic ex- Natal up increased 5.4% YoY; Results in US$ impacted by BRL depreciation, Adjusted EBITDA Margin expansion of 3.9 p.p. to 38% in 1Q25 Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex

  18. Slide 18: Uruguay: Steady Adjusted EBITDA growth driven by PAX, Cargo, and VIP Lounges

    CORPORACIÓN AMÉRICA AIRPORTS 18 Uruguay: Steady Adjusted EBITDA growth driven by PAX increase, Cargo, and VIP Lounges Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (ex-IFRIC; in US$ million) million) million) +2% +4.5

  19. Slide 19: Armenia: Strong performance in F&B & VIP Lounges offset by higher Opex

    CORPORACIÓN AMÉRICA AIRPORTS 19 Armenia: Strong performance in F&B & VIP Lounges offset by higher Opex Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (ex-IFRIC; in US$ million) million) million) +1% -2% +1% 39% 38% 19

  20. Slide 20: Ecuador: High airfares weighed on Domestic Traffic Growth

    CORPORACIÓN AMÉRICA AIRPORTS 20 Ecuador: High airfares weighed on Domestic Traffic Growth, while Adjusted EBITDA Margin expanded 1.5 p.p on strong operating leverage Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (ex-I

  21. Slide 21: IR Contact

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

Corporacion America Airports — Q1 2025 Earnings Presentation on 6ix