Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q1 2015 Earnings Presentation
28 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, 2015
Slide 1: First Quarter Results 2015
First Quarter Results 2015
Slide 2: Investment Highlights
Investment Highlights Positioned to take full advantage of global growth Diversified business model Well-defined strategy to capitalize favorable industry dynamic Successful commercial and diversification strategy Track record of operating and financial performance Solid capital structure Well-defin
Slide 3: Contents
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Contents Company Overview Commercial and Diversification Strategy Strong Financial Position Air Traffic Development Operational & Sustainability Le
Slide 4: Company Overview
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Company Overview Shareholders Historical Performance OMA’s Business Strategy
Slide 5: Shareholders
Shareholders AEROINVEST, 23.80% SETA- AEROINVEST, 12.40% SETA, 16.70% PUBLIC FLOAT, 59.50% SETA-ADP, 4.30%
Slide 6: Historical Performance
Historical Performance Aeronautical Revenues Non Aeronautical Revenues Passenger Traffic (million) 15.3 4,50 0 14.2 14.7 16.0 14.1 13.3 1 12.6 4,00 0 3,579 14.0 3,50 0 11.8 11.5 11.6 11.8 3,422 10.6 3,065 12.0 3,00 0 9.7 2,820 26% 26% 8.6 8.9 2,459 10.0 26% 2,50 0 2,144 24% 1,897 1,988 1,896 24% 8.0
Slide 7: 1Q15 Highlights
1Q15 Highlights +17.5% Passenger Traffic +22.7 Total Revenues | +32.5% Adjusted EBITDA Operating Costs and Expenses (Ps. Million) 1Q14 1Q15 % Var Passenger Traffic 3.2 3.8 17.5 Aeronautical Revenues + Non-Aeronautical Revenues 758 914 20.6 Construction Revenues 74 107 44.4 Total Revenues 832 1,021 2
Slide 8: Business Strategy
Business Strategy Operational, Security & Efficiency Leadership Maximize Aeronautical Maximize Non-Aeronautical Revenues Revenues Air Traffic & Connectivity Diversification | Passenger Experience Sustainable Company
Slide 9: Air Traffic Development
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Air Traffic Development Synergy with Airlines Passenger Traffic Connectivity Development
Slide 10: Passenger Traffic
Passenger Traffic Airport Types Metropolitan Passenger Traffic 1Q2015 Border Cities • Total Pax: 3.8 million (+17.5%) Tourist Regional • Domestic: 3.1 million (+17.3%) • International: 0.7 million (+18.4%) 2,50 0 17.0% 22.9% 20.0 % 2,00 0 12.2% 0.0% 1,418 1,228 -20.0% 1,50 0 1,095 1,156 1,154 988 -4
Slide 11: Airline Synergy
Airline Synergy Important Projects in 2014... Aeromexico Regional HUB in MTY Volaris Secondary Base in MTY Interjet Secondary Base in MTY
Slide 12: Connectivity: 8 new direct routes in 1Q15
Connectivity 8 new direct routes in 1Q15 Domestic Routes Airline Monterrey-Toluca Aeromexico Acapulco-Tijuana Interjet Culiacán-La Paz Volaris Culiacán-San José del Cabo Volaris Torreón-Guadalajara Volaris Torreón-Tijuana Volaris International Routes Airline Monterrey-Miami Aeromexico Monterrey - Lo
Slide 13: Aeronautical Revenues 1Q15
Aeronautical Revenues 1Q15 +21.0% Aeronautical Revenues 74% of total revenues excluding construction in 1Q15 Aeronautical revenue per passenger Ps. 177.6 Aeronautical Revenues (Ps. Million) 1Q14 1Q15 % Var Domestic Passenger Charges 326 378 16.1 International Passenger Charges 128 171 33.9 Other Aer
Slide 14: Commercial and Diversification Strategy
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Commercial Diversification Strategy Strategy Commercial Strategy Diversification Strategy
Slide 15: Commercial Key Points
Commercial Key Points Premium Innovative Maximize International Strategy & alternative Commercial franchises & advertising Areas & Loyalty Renowned Programs Local Brands
Slide 16: Diversification Strategy
Diversification Strategy
Slide 17: Historical Non-Aeronautical Performance
Historical Non-Aeronautical Performance Non Aeronautical Revenues (NAR) has increased faster than passenger traffic as a result of commercial initiatives and diversification projects... NAR Total Passenger CAGR 18 09-LTM 15 15 14 4.8% 130 0 14 13 16 12 12 12 12 13 14 929 110 0 890 796 12 900 689 10
Slide 18: Non-Aeronautical Revenues 1Q15
Non-Aeronautical Revenues 1Q15 +19.5% Non-Aeronautical Revenues 26% of total revenues excluding construction in 1Q15 Non-aeronautical revenue per passenger Ps. 62.9 Non-Aeronautical Revenues (Ps. Million) 1Q14 1Q15 % Var Commercial Activities 104 126 21.7 Diversification Activities 60 73 21.6 Comple
Slide 19: Operation & Sustainability Leadership
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Operation & Sustainability Leadership 2014 Culiacan Airport Mazatlan Airport
Slide 20: Strong Financial Position
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Strong Financial Position Profitability Indicators Distribution Value Healthy Balance Sheet Master Development Plan
Slide 21: We continue to improve our profitability
We continue to improve our profitability ROA / ROE 18.8 20.0 18.0 16.8 15.6 16.0 12.8 14.0 11.2 10.1 10.9 12.0 8.2 8.2 9.2 10.0 6.1 7.6 6.6 8.0 6.0 4.6 4.0 2.0 - 2009 2010 2011 2012 2013 2014 LTM Earnings per Share 3.01 2.58 2.60 Pesos 2.05 1.66 1.54 1.19 2009 2010 2011 2012 2013 2014 LTM
Slide 22: Focus on Generating Value
Focus on Generating Value Historical Dividend / Capital Dividend Yield and Payout Reimbursement... Ratio... Ps. Million Percentage Payout Ratio Dividend Yield 1,200 1,200 1,200 8.6 250 9.0 6.9 5.7 7.0 200 4.5 4.2 4.4 147 5.0 150 500 117 3.0 100 400 400 100 85 81 1.0 61 -1.0 50 -3.0 0 -5.0 2009 2010
Slide 23: Healthy Balance Sheet
Healthy Balance Sheet Strong Financial Position Low Leverage Level vs Industry Pesos Net Debt / Adjusted EBITDA 1.0 0.9 $4,721 $3,093 0.8 0.8 0.8 0.6 0.4 $1,628 -0.1 Total Debt Cash Net Debt 2008 2009 2010 2011 2012 2013 2014 LTM Debt Maturity Profile Capital Structure Improvement Ps. Million Total
Slide 24: Master Development Plan
Master Development Plan Additional Recognition of MDP Investment in Land Recognized Land Acquired 147 Federal Government agreed to recognize land 146 326 reserve for Ps. 487 million acquired for Culiacan and 579 Monterrey airports as improvement in concession 82 5 537 assets. 469 454 We are currentl
Slide 25: Industry and Company Outlook
1 2 3 4 5 6 Company Overview Air Traffic Development Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook Industry and Company Outlook Industry Trends Company Outlook 2015
Slide 26: Positive Trends in the Aeronautical Industry
Positive Trends in the Aeronautical Industry Air Passenger Transport per Projected Domestic 1 Capita Passenger Traffic CAGR 2014-2033 2.4 6.0% 2.0 5.6% 4.7% 4.7% 2.5% 0.8 1.9% 2.0% 0.5 0.3 0.2 Mexico Argentina Brazil Canada Chile United Mexico Brazil United Canada Russia Central South States States
Slide 27: Outlook 2015
Outlook 2015 Expectation 2015 Passenger Traffic Growth 6%-8% Aeronautical Revenue Growth 7%-9% Non Aeronautical Revenue Growth 13%-16% Adjusted EBITDA 53%-55% MDP Investments (Ps.Million) 500-700 Strategic Investments (Ps.Million) 100-200
Slide 28: Investor Relations
Investor Relations
OMA (Grupo Aeroportuario del Centro Norte) — Q1 2015 Earnings Presentation on 6ix