Corporacion America Airports Sa · NYSE:CAAP
Corporacion America Airports Sa — Q1 2026 Earnings Presentation
21 slides from Corporacion America Airports Sa's earnings presentation, May 13, 2026
Slide 1: First Quarter 2026 Earnings Call Presentation
CORPORACION AMERICA AIRPORTS → OPENING REMARKS → KEY HIGHLIGHTS FIRST QUARTER → TRAFFIC & CARGO TRENDS 2026 → FINANCIAL TRENDS → CLOSING REMARKS EARNINGS CALL PRESENTATION → Q&A May 13, 2026 → APPENDIX
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
Slide 3: Strong Start to 2026: Double-Digit Revenue and Adjusted EBITDA Growth
CORPORACIÓN AMÉRICA AIRPORTS 3 → 1Q26 Passenger traffic (PAX) +7.0% YoY Strong Start to 2026: Double-Digit Revenue • Solid traffic across all countries of operation and Adjusted EBITDA Growth with 2.3 pp • International +13.7% YoY; Argentina +18.5% YoY margin expansion • Domestic +0.1%; positive con
Slide 4: Passenger traffic up 7.0% YoY to 21.8M driven by international growth
CORPORACIÓN AMÉRICA AIRPORTS 4 Passenger traffic up 7.0% YoY to 21.8M driven by double-digit →Total Passenger traffic international growth, with Argentina as key contributor +7.0% YoY. → International +13.7% YoY, with strong contributions from Monthly Passenger Traffic Passenger Traffic by Country A
Slide 5: Cargo Revenues up 16% YoY
CORPORACIÓN AMÉRICA AIRPORTS 5 Cargo Revenues up 16% YoY, driven by double-digit growth in Brazil, Armenia, Uruguay, Argentina1 and Italy → Cargo volumes +1.7% YoY with strong contributions from Argentina and Armenia, which together accounted for over 60% of total cargo volume in the quarter Monthly
Slide 6: Revenues up 19%, more than doubling traffic growth
CORPORACIÓN AMÉRICA AIRPORTS 6 Revenues up 19% more than doubling traffic growth with double-digit Aeronautical & Commercial growth and positive contributions from all countries of operations. → Total Revenues ex-IFRIC12 +18.8% YoY; well above traffic Revenue by type – vs 1Q25 growth of +7.0% (ex-IF
Slide 7: Costs & Expenses up 13%, driving operating leverage
CORPORACIÓN AMÉRICA AIRPORTS 7 Costs & Expenses up 13%, well below Revenue growth of 19%, continued to drive operating leverage Total Costs and Expenses – vs 1Q25 → Costs of Services +13.6% YoY, below revenue growth (ex-IFRIC12; in US$ million) mainly driven by higher Fuel costs in Armenia (tied to
Slide 8: Adjusted EBITDA up 26% YoY with 2.3 pp margin expansion
CORPORACIÓN AMÉRICA AIRPORTS 8 Adjusted EBITDA up 26% YoY with Margin expansion of 2.3 pp driven by broad- based growth across all countries Adjusted EBITDA – vs 1Q25 → Adj. EBITDA Ex-IFRIC12 +26.1% YoY to $196M, with double-digit growth in (ex-IFRIC12; in US$ million) all countries of operation, ex
Slide 9: Strong Cash flow generation with Total Liquidity at $772M
CORPORACIÓN AMÉRICA AIRPORTS 9 Strong Cash flow generation with Total Liquidity at $772M Cash Flow – YTD → Total liquidity position12 of $772M as of March 31, 2026, up 8% from $715M as of year end 2025 (in US$ million) 1,000 $196.2 → All operating subsidiaries remained cash flow 900 $10.5 -$49.2 $3.
Slide 10: Robust balance sheet with net leverage ratio down to 0.5x
CORPORACIÓN AMÉRICA AIRPORTS 10 Robust balance sheet with net leverage ratio down to 0.5x and a comfortable debt maturity profile Debt Maturity Profile (interest and principal payments) Total Debt Breakdown by Country (March 31, 2026; US$ Million) (March 31, 2026) Total Liquidity Position12 Italy Ar
Slide 11: Closing Remarks
CORPORACIÓN AMÉRICA AIRPORTS 11 CLOSING REMARKS
Slide 12: Strong Start to 2026, Supported by International Traffic and Operating Leverage
CORPORACIÓN AMÉRICA AIRPORTS 12 Strong Start to 2026, Supported by International Traffic and Operating Leverage → Broad-based performance across the portfolio, with traffic and revenue growth in all countries and Adjusted EBITDA growth in nearly all markets → Passenger traffic +7% YoY driven by inte
Slide 13: Q&A
CORPORACIÓN AMÉRICA AIRPORTS 13 Q&A
Slide 14: Business and Financial Review of Key Countries of Operations
CORPORACIÓN AMÉRICA AIRPORTS 14 Business and Financial Review of Key Countries of Operations
Slide 15: Argentina: Strong International PAX growth drives 16% Revenue increase
CORPORACIÓN AMÉRICA AIRPORTS 15 Argentina: Strong International PAX growth drives 16% Revenue increase and 27% Adjusted EBITDA Growth, with 4.1 p.p. margin expansion despite inflationary headwinds Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC;
Slide 16: Italy: Revenues up 16%; Adj. EBITDA up 10% ex-construction
CORPORACIÓN AMÉRICA AIRPORTS 16 Italy: Revenues up 16% more than doubling PAX growth; Adj. EBITDA up 10% ex- Other Construction Service-related costs 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$ mil
Slide 17: Brazil: Double-digit Revenue growth; Adj. EBITDA up 44%
CORPORACIÓN AMÉRICA AIRPORTS 17 Brazil: Double-digit Revenue growth; Adj. EBITDA up 44% YoY with 3.7 p.p Margin expansion on strong PAX trends and commercial initiatives Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (
Slide 18: Uruguay: Double-digit revenue growth; Adjusted EBITDA up 16%
CORPORACIÓN AMÉRICA AIRPORTS 18 Uruguay: Commercial revenues and solid PAX trends drive double-digit revenue growth; Adjusted EBITDA up 16% YoY with flat margin impacted by higher Salaries, Maintenance expenses and Uy peso appreciation Passenger traffic Net revenue by type Total Cost and Expenses Ad
Slide 19: Armenia: Revenues up nearly 40% and Adjusted EBITDA up 34%
CORPORACIÓN AMÉRICA AIRPORTS 19 Armenia: Revenues up nearly 40% and Adjusted EBITDA up 34%, supported by greater connectivity, strong fuel Revenues, and limited impact from the Middle East conflict Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC
Slide 20: Ecuador: Traffic recovery of 7% drives 16% Adjusted EBITDA Growth
CORPORACIÓN AMÉRICA AIRPORTS 20 Ecuador: Continued Traffic recovery of 7% drives 16% Adjusted EBITDA Growth and 1.8 p.p. Margin Expansion, reflecting strong operating leverage Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in
Slide 21: IR Contact
IR Contact Patricio Iñaki Esnaola Email: Patricio.esnaola@caairports.com Phone: +5411 4899 6716
Corporacion America Airports — Q1 2026 Earnings Presentation on 6ix