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 — Q3 2012 Earnings Presentation
18 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Oct 25, 2012
Slide 1: Notes on references and Adjusted EBITDA
__________________________________________ 1 Unless otherwise stated, all references are to the third quarter of 2012 (3Q12), and all percentage changes are with respect to the same period of the prior year. The exchange rate used to convert foreign currency amounts was Ps. 12.8695 per U.S. dollar.
Slide 2: Total passenger traffic increased 9.1%
Total passenger traffic increased 9.1% (+286,858 terminal passengers). Traffic increased most in the Monterrey (+13.1%), Chihuahua (+13.1%), Culiacán (+10.4%), and Reynosa (+38.1%) airports. VivaAerobus, Volaris, Magnicharter, Interjet, Copa Airlines, American Airlines, Grupo Aeroméxico, AviancaTaca
Slide 3: Air Cargo and Non-Aeronautical and Commercial Operations
Air Cargo volumes increased 1.6%. Of total air cargo volume, 62.5% was domestic and 37.5% was international. Cargo revenues increased 34% to Ps. 8 million in 3Q12. Non-Aeronautical and Commercial Operations During 3Q12, we continued to increase and improve the commercial offering and passenger servi
Slide 4: NH Terminal Hotel Operations and Consolidated Financial Results
NH Terminal 2 Hotel Operations The NH T2 hotel in the Mexico City International Airport had an average occupancy rate of 81.4%, as compared to 84.8% in 3Q11. The decrease reflects in part the relocation of United/Continental operations to Terminal 1 and the opening of a Courtyard Marriott in T1. Rev
Slide 5: RevPAR
_____________________________ 3 RevPAR
Slide 6: Non-aeronautical revenues increased 17.7%
Non-aeronautical revenues increased 17.7%, principally because of increased parking revenues, the NH T2 hotel, leases, advertising, restaurants, and OMA Carga. NH T2 hotel revenues increased 8.9% to Ps. 41 million, principally as a result of increased restaurant revenues. Room rentals were 75.6% of
Slide 7: 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 5.0%, principally because of the contracting of personnel to staff the checked baggage screening equipment, t
Slide 8: Concession tax, technical assistance fee and depreciation
The airport concession tax increased 22.9% because of the growth in revenues. The technical assistance fee increased 29.7%, in line with the increase in EBITDA. Depreciation and amortization increased 14.2%, principally as a result of increased capex, including the expansion of Terminal C in Monterr
Slide 9: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA was Ps. 425 million in 3Q12, an increase of 25.4%. The Adjusted EBITDA margin was 56.0%. 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 10: Adjusted EBITDA reconciliation (Ps. thousands)
(Ps. thousands) Net Income plus: Comprehensive Financing cost Income Taxes Operating income Operating margin % plus: Depreciation and amortization EBITDA Cons truction revenue plus: Cons truction expense ‘Maintenance provision Adjusted EBITDA Adjusted EBITDA margin: Adjusted EBITDA (Aeronautical rev
Slide 11: Comprehensive financing expense and tax provision
Comprehensive financing expense was Ps. 13 million in 3Q12, a 77.3% reduction from 3Q11. The improvement was principally the result of an exchange gain on the valuation of OMA’s dollar-denominated debt. OMA has sought to reduce its interest expense, despite the increase in debt, which is reflected i
Slide 12: Net income and Capital Expenditures
Consolidated net income and Net income of controlling interest each increased 57% to Ps. 218 million. Earnings per share were Ps. 0.55, and earnings per ADS were US$0.34 per ADS. Each ADS represents eight Series B shares. (See Annex Table 3.) Capital Expenditures During 3Q12, capital expenditures we
Slide 13: Passenger Traffic
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Passenger Traffic (Terminal passengers-excludes transit passengers) Total Passengers 311 3012 var ont omi2 svar ‘Acapulco 735,830 731,181 G4) 455,516 703,690 7) Ciudad Judrez 189,212 190,838 0 498,135 519,728 43 uiacan 276,227 304,861 104 778,185
Slide 14: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.AB. de C.V. Unaudited Consolidated Balance Sheet (Thousands of pesos) September 30 December31 September30 -%Var %6Var 2011 2011 212 3Q12vs3Q11 3012 vs 4Q11 Assets Current assets Cash and cash equivalents 569,876 523,634 738,446 38.4 50.6 Trade Accounts receiv
Slide 15: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of pesos) 3Q11 3012 %Var Mit 9M12__%Var Revenues Aeronautical services 496,829 583,344 17.4 1,343,039 1,586,365 18.1 Non-aeronautical services 149,428 175,846 17.7 424,611 490,935 15.6 Construc
Slide 16: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement. (Thousands of pesos) July 1- September 30 January 1- September 30 2011 2012 Var. 2011 2012 % Var. erating activites Income before taxes 199,476 324,746 62.8 560,769 835,185 48.9 tems related to investing
Slide 17: Statement of Changes in Stockholders' Equity
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity For the six months ending on June 30, 2012 (thousand pesos) Additional Reserve for Non- Total Number of Capital stock paid in Retained repurchase contralling stockholder’s Shares Nominal __cap
Slide 18: 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 sq 312 suit 912 Culiacén sq 3Qi2_ mit 9m. Tota passengers 1566.4 1,771.6 4181.4 4,563.5 Total passengers 276.2 3049 ~—~«77B.2—~—~«CSBA Tota Revenues 309,531
Central North Airport Group — Q3 2012 Earnings Presentation on 6ix