Corporacion America Airports Sa · NYSE:CAAP

Corporacion America Airports Sa — Q3 2025 Earnings Presentation

21 slides from Corporacion America Airports Sa's earnings presentation, Nov 24, 2025

  1. Slide 1: Third Quarter 2025 Earnings Call Presentation

    CORPORACION AMERICA AIRPORTS → OPENING REMARKS → KEY HIGHLIGHTS → TRAFFIC & THIRD QUARTER → CARGO TRENDS 2025 FINANCIAL TRENDS → CLOSING REMARKS EARNINGS CALL PRESENTATION → Q&A November 24, 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: Record $194M Adjusted EBITDA with 5.2 pp Margin Expansion

    CORPORACIÓN AMÉRICA AIRPORTS 3 → 3Q25 Passenger traffic (PAX) up 9.3% YoY • International up 8.3% YoY; Argentina up 15.9% YoY Record $194M Adjusted EBITDA with 5.2 • Domestic up 10.1% YoY; Argentina up 10.8% YoY • Solid traffic in all countries of operation, with record highs in Italy and Armenia, p

  4. Slide 4: Widespread Passenger Traffic Growth Across Most Markets, with Record Highs in Italy and Armenia

    CORPORACIÓN AMÉRICA AIRPORTS 4 Widespread Passenger Traffic Growth Across Most Markets, with Record Highs in Italy and Armenia and 3Q Record Highs in Argentina →Total Passenger traffic up 9.3% YoY →International up 8.3% YoY, with strong contributions from Argentina (+15.9%) Brazil (+10.7%) and Italy

  5. Slide 5: Cargo Revenues Up 20% YoY, with Double-Digit Growth in Argentina, Brazil and Uruguay

    CORPORACIÓN AMÉRICA AIRPORTS 5 Cargo Revenues Up 20% YoY, with Double-Digit Growth in Argentina, Brazil and Uruguay →Cargo volumes down 3% YoY, with Argentina’s data still preliminary due to a system transition Monthly Cargo Volume Cargo Volume by Country →Cargo revenues up 20% YoY, driven mainly by

  6. Slide 6: Revenues Up 17% Fueled by Double-Digit Growth in Aeronautical and Commercial Revenues

    CORPORACIÓN AMÉRICA AIRPORTS 6 Revenues Up 17% Fueled by Double-Digit Growth in Aeronautical and Commercial Revenues Revenue by type – vs 3Q24 →Total Revenues ex-IFRIC12 up 16.6% YoY; above traffic (ex-IFRIC12; in US$ million) growth of 9.3% →Aeronautical revenues up 15.2% YoY, mainly driven by Arge

  7. Slide 7: Costs & Expenses up 7.9% Remaining Well Below Revenue Growth of 16.6%

    CORPORACIÓN AMÉRICA AIRPORTS 7 Costs & Expenses up 7.9% Remaining Well Below Revenue Growth of 16.6% →Costs of Services up 5.2% YoY, mainly driven by higher Total Costs and Expenses – vs 3Q24 Concession fees (aligned with revenue growth) and elevated Fuel costs in Armenia, partially offset by lower

  8. Slide 8: Adjusted EBITDA Up 34% YoY to a Record of $194 Million with 5.2 pp Margin Expansion

    CORPORACIÓN AMÉRICA AIRPORTS 8 Adjusted EBITDA Up 34% YoY to a Record of $194 Million with 5.2 pp Margin Expansion →Adj. EBITDA Ex-IFRIC12 up 33.6% YoY to a record $194M, reflecting strong Adjusted EBITDA – vs 3Q24 performances across all countries, except Uruguay, with double-digit growth in Argent

  9. Slide 9: Strong Cash flow Generation with Total Liquidity at $661 Million

    CORPORACIÓN AMÉRICA AIRPORTS 9 Strong Cash flow Generation with Total Liquidity at $661 Million; Positive Operating Cash Flow across all Operating Subsidiaries Cash Flow – YTD (in US$ million) →Total liquidity position12 of $661M as of September 30, 2025, up 26% from $526M as of year end 2024 →All o

  10. Slide 10: Robust Financial Position with Net Leverage Ratio down to 0.9x and a Healthy Debt Maturity Profile

    CORPORACIÓN AMÉRICA AIRPORTS 10 Robust Financial Position with Net Leverage Ratio down to 0.9x and a Healthy Debt Maturity Profile Debt Maturity Profile (interest and principal payments) Total Debt Breakdown by Country (September 30, 2025; US$ Million) (September 30, 2025) Total Liquidity Position12

  11. Slide 11: Closing Remarks

    CORPORACIÓN AMÉRICA AIRPORTS 11 CLOSING REMARKS

  12. Slide 12: Revenues up 17% YoY, nearly doubling passenger traffic growth

    CORPORACIÓN AMÉRICA AIRPORTS 12 → Revenues up 17% YoY, nearly doubling passenger traffic growth supported by broad-based growth, with Argentina, Armenia, Brazil and Italy posting double-digit revenue increases → Record Adjusted EBITDA ex-IFRIC12 of $194 million, up 34% YoY reflecting robust revenue

  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: Record third quarter PAX; Adjusted EBITDA up 68% with 12 p.p margin expansion

    CORPORACIÓN AMÉRICA AIRPORTS 15 Argentina: Record third quarter PAX; Adjusted EBITDA up 68% with 12 p.p margin expansion driven by easier comps, strong topline growth and effective cost controls Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; i

  16. Slide 16: Italy: Record high traffic, Double digit topline growth; Adjusted EBITDA up 10%

    CORPORACIÓN AMÉRICA AIRPORTS 16 Italy: Record high traffic, Double digit topline growth; Adjusted EBITDA up 10%, or 18% when excluding other construction service-related costs at Toscana Aeroporti Costruzioni Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions

  17. Slide 17: Brazil: Adjusted EBITDA up 19% YoY with 1.5 p.p margin expansion

    CORPORACIÓN AMÉRICA AIRPORTS 17 Brazil: Adjusted EBITDA up 19% YoY with 1.5 p.p margin expansion driven by traffic growth and solid commercial revenue performance Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in millions) (ex-IFRIC; in US$ (ex-IFRIC; in US$ (ex-IFRI

  18. Slide 18: Uruguay: Traffic, Revenues and Adjusted EBITDA impacted by planned runway closure

    CORPORACIÓN AMÉRICA AIRPORTS 18 Uruguay: Traffic, Revenues and Adjusted EBITDA impacted by six-day planned runway closure to install new landing system. 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$

  19. Slide 19: Armenia: Record high traffic, Strong adjusted EBITDA growth

    CORPORACIÓN AMÉRICA AIRPORTS 19 Armenia: Record high traffic, Strong adjusted EBITDA growth supported by traffic growth and robust fuel revenues 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)

  20. Slide 20: Ecuador: Slight decline in traffic due to 2-day planned runway closure

    CORPORACIÓN AMÉRICA AIRPORTS 20 Ecuador: Slight decline in traffic due to 2-day planned runway closure, Adjusted EBITDA up 4% YoY with 1 p.p margin expansion driven by solid Duty-free and retail stores performance Passenger traffic Net revenue by type Total Cost and Expenses Adjusted EBITDA ( in mil

  21. Slide 21: IR Contact

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

Corporacion America Airports — Q3 2025 Earnings Presentation on 6ix