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 2014 Earnings Presentation
24 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Oct 24, 2014
Slide 1: OMA Announces Third Quarter 2014 Earnings
OMA Announces Third Quarter 2014 Earnings Monterrey, Mexico, October 23, 2014 – Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), reported its unaudited, consolidated results for the third quarter of 2014 today. [1] Third Quarter 20
Slide 2: Third Quarter 2014 Summary
§ Total terminal passenger traffic increased 9.2% to 4.0 million in 3Q14. Domestic traffic increased 9.2%; international traffic increased 9.5%. § Sixteen new domestic routes and two new international routes opened in the quarter, including the route to Narita, Japan starting September 19 th . The n
Slide 3: SSS ccc CO SS — 0S yp
SSS ccc CO SS — 0S yp DB OMA Headquarters: +52. 81.8625.4300 P Chiof Financial Officer: > Investor Relations in USA: José Luis Guerrero Cortés Daniel Wilson / Zemi Communications ilguerrero@oma.aero dbmwilson@zemi.com @® EMPRESA Ext, 308. +1.212.689.9560 RESPONSABLE
Slide 4: Total passenger traffic increased
Total passenger traffic increased 9.2% (+333,256 passengers). Ten airports recorded growth, with the most significant increases in Monterrey (+12.3%; +222,797), San Luis Potosí (+58.2%; +40,200), and Reynosa (+23.6%; +24,111). See Annex Table 1, Passenger Traffic for more detail. The airlines with t
Slide 5: International passenger traffic
International passenger traffic increased 9.5%. Ten airports increased international traffic. Monterrey (+9.2%; +23,735 passengers) increased traffic on its Houston and Atlanta routes; Chihuahua (+29.2%, +6,306) increased traffic on its Denver and Dallas routes; and San Luis Potosí (+23.2%; +6,010)
Slide 6: Detail of Commercial Initiatives Implemented
Airport Culiacan Chihuahua Monterrey Ciudad Juérez, Durango, Monterrey Detail of Commercial Initiatives Implemented Type Hotel Kiosk Food and Beverages Car Rentals Retail Quantity Roan
Slide 7: Aeronautical revenues
Monterrey contributed 48.8% of aeronautical revenues, Culiacán 8.0%, and Chihuahua 6.9%. Aeronautical revenue per passenger increased 3.3% to Ps. 174.2. Non-aeronautical revenues increased 8.1%, with growth in revenues from commercial services (+6.3%), diversification activities (+10.5%), and comple
Slide 8: Non-aeronautical revenues
Monterrey contributed 41.0% of non-aeronautical revenues, the NH T2 hotel 21.6%, Chihuahua 4.0%, Mazatlán 3.9%, and Culiacán 3.8%. Non-aeronautical revenues per passenger decreased 1.0% to Ps. 56.5. Non-aeronautical revenues per passenger, excluding the NH T2 hotel, decreased 0.2% to Ps. 44.1. Non-a
Slide 9: Total revenues
Construction revenues were Ps. 90 million; construction revenues represent the value of improvements to concessioned assets made during the quarter, and are equal to construction costs recognized, and do not generate either a gain or a loss. (See Notes to the Financial Information.) Total revenues i
Slide 10: Costs and expenses
Construction costs are equal to construction revenues and do not generate a gain or loss. The airport concession tax increased 13.2% because of the growth in revenues. The technical assistance fee increased 14.8% as a result of the increase in EBITDA. Depreciation and amortization increased 6.7%, pr
Slide 11: Operating Costs and Expenses (Ps. Thousands)
(Ps. Thousands) Cost of Services General and Administrative Expenses (GA) Subtotal (Cost of Services + GA) Major Maintenance Provision Cost of Construction Concession Taxes Technical Assistance Fee Depreciation & Amortization Other (Income) Expense - Net Total Operating Costs and Expenses ‘See Notes
Slide 12: Financing Expense
Financing Expense Financing expense was Ps. 68 million in 3Q14. The increase was principally the result of higher interest expense, as a result of the increase in debt from the issuance of the OMA14 notes. In addition there was an exchange loss and a loss from a change in the variables used to estim
Slide 13: Taxes
Taxes The tax provision was Ps. 110 million. This includes Ps. 96 million in cash tax payments, as a result of an increase in the taxable base. Ps. 14 million were deferred taxes. The variation in deferred taxes in 3Q14 as compared to the prior year period is principally the effect of the repeal of
Slide 14: Net Income
Net Income Consolidated net income increased 18.9% to Ps. 271 million, reflecting the combined effect of OMA’s initiatives to increase revenues while controlling expenses. Earnings per share, based on net income of the controlling interest, were Ps. 0.69, or US$0.41 per ADS. Each ADS represents eigh
Slide 15: MDP and Strategic Investment Expenditures
MDP and Strategic Investment Expenditures Total investment expenditures were Ps. 148 million during 3Q14, including MDP projects at the 13 airports and strategic investments. Expenditures under the MDP included improvements to concessioned assets of Ps. 90 million, various smaller accounts, and majo
Slide 16: Most important investments by airport
Airport Mazatlan San Luis Potosi Culiacan Culiacan Mazatlan Monterrey Torreon Monterrey Monterrey Project Installation of two passenger jetways Rehabilitation of the runway Construction of a taxiway, rehabilitation of the general aviation platform, and airport roads Rehabilitation of the runway Expa
Slide 17: Cash Flow Statement
Cash Flow Statement For the first nine months of 2014, operating activities generated cash of Ps. 1,175 million compared to Ps. 703 million during the same period of 2013. The increase was principally the result of an increase in collections from the growth of the business and tax recoveries. Invest
Slide 18: Passenger Traffic by Airport
Total Passengers Acapulco Ciudad Juarez Culiacan Chihuahua Durango Mazatlan Monterey Reynosa San Luis Potosi Tampico Toreén Zacatecas Zihuatanejo Total Dom estic Passengers Acapulco Ciudad Juarez Culiacan Chihuahua Durango Mazatlan Monterey Reynosa San Luis Potosi Tampico Toreén Zacatecas Zihuatanej
Slide 19: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet Assets Current Assets. Cash and Cash Equivalents Trade Accounts Receivable - Net Trade Accounts Receivable from Related Parties Recoverable Taxes Other Current Assets Total Current Assets Land, Buildings, Machi
Slide 20: Unaudited Consolidated Statement of Income
Grupo Aeroportuarlo del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statem ent of Income (Thousands of Pesos) 3Q13 Revenues Aeronautical Revenues 610,388 Non-Aeronautical Revenues: 206,534 Aeronautical Revenues + Non-Aeronautical Revenues 816,922 Construction Revenues 52,357 Total Revenues 8
Slide 21: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement ‘Operating Activities Consolidated Net Income income Tax Doubtful Accounts Provision Items in Results Related to Investing Activities Depreciation and Amortization (Profit) / Loss on Sales of Machinery an
Slide 22: Statement of Changes in Stockholders' Equity
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity As of September 30, 2013 (Thousand Pesos) nal Reserve for Non- Total Number of Capital stock Retained Repurchase Labor_~—Controlling__Stockholder's Shares Nominal Earnings of shares Obligation
Slide 23: 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 3013 3014 M13 914 __Culiacan 3013-3014 M13 9Mt4 Total Passengers 1,812.1 2,034.9 4,819.0 5,192.7 Total Passengers 314.2 313.4 889.6 969.6 Total Revenues 384,0
Slide 24: Analyst Coverage
Company Actinver Casa de Bolsa Bank of America Merrill Lynch Barclays Bank PLC BBVA Bancomer Citigroup Credit Suisse Deutsche Bank Grupo Bursdtl Mexicano (GBM) Grupo Financiero Interacciones Grupo Financiero Monex HSBC. Intercam Casa de Bolsa Invex tad BBA J.P. Morgan Morgan Stanley Santander Scotia
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