Grupo Aeroportuario Del Centro Norte Sab De Cv Class B · BMV:OMA/B
Grupo Aeroportuario Del Centro Norte Sab De Cv Class B — Q1 2024 Earnings Presentation
33 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 25, 2024
Slide 1: First Quarter Corporate Presentation
First Quarter Corporate Presentation May 2024 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking information and statements. Forward-looking statements are statements that are not historical facts. These statements are only predictions based on our current information and expectations and projections about future events. Forward-looking s
Slide 3: Table of Contents
Company Overview About the Company | Reasons to Invest | Corporate Governance | Shareholders’ Structure | Growing Revenue & Efficiency | Robust Stock Performance | Commitment with the Environment | Social and Governance Matters Aeronautical Business (AR) Sustained Passenger Growth | Route Developmen
Slide 4: About the Company
About the Company 26.8 million passengers served LTM March 2024 Ciudad Juárez 2 Hotels NH Collection Hotel in Terminal 2 of the Mexico City Airport and Hilton Garden Inn at Monterrey Airport 1 Industrial Chihuahua Park OMA VYNMSA at Monterrey Airport Torreón Reynosa Monterrey 4 Bonded Monterrey (2)
Slide 5: Reasons to Invest
High potential and diversified asset portfolio. Efficient management of costs and expenses. Sustained passenger growth. Commitment to safety, security and sustanability. Reasons to Invest Attractive dual-till airport concession model. Successful comercial and diversification strategy. Part of the la
Slide 6: Corporate Governance and Management Team
Corporate Governance Board of Directors 5 independent members / 3 women Corporate Practices, Finance, Planning, And Audit Committee Sustainability 100% independence Committee 100% independence Name Position Ricardo Dueñas Espriu CEO Management Team Ruffo Pérez Pliego CFO Adriana Díaz Galindo General
Slide 7: Shareholders’ Structure
Shareholders’ Structure 29.99% Market Cap Ps. Bn. $64.5 USD Bn. $3.9 Float 70.01% Note: As of April 29, 2024 1 Vinci Airports owns 14.8% through Servicios de Tecnología Aeroportuaria, S.A. de C.V.(“SETA”) (12.9% BB Shares and 1.9% B Shares) and 15.1% through Concessoc 31, SAS, (B Shares). SETA and C
Slide 8: Growing Revenue & Efficiency
Growing Revenue & Efficiency Aeronautical Revenue Non Aeronautical Revenue 16,000.00 30.00 Passengers 26.8 26.8 14,000.00 23.2 23.2 25.00 12,000.00 21.6 11,559 11,743 19.7 18.0 20.00 23% 23% 10,000.00 9,285 8,000.00 7,572 24% 15.00 6,766 6,931 5,803 24% 11.1 6,000.00 24% 24% 10.00 25% 4,114 4,000.00
Slide 9: Robust Stock Performance
Strong Price Performance (OMA returns vs MEXBOL Index) +657% (Index 100=2006) Robust Stock Performance +137% OMAB MM Equity MEXBOL Index 9 Note: Prices from November 28, 2006 (OMA´s IPO) to March 29, 2024
Slide 10: Commitment with the Environment
ENERGY EFFICIENCY Solar parks installed in all 13 airports, providing 17.6% of OMA’s energy TARGETS: consumption in 2023. Reduction of In 2021, 2022, and 2023, 82%, 95%, and OMA’s greenhouse gas 99% of OMA’s energy, respectively, was emissions per passenger provided by clean energy. in 58% by 2025.
Slide 11: Social and Governance Matters
Social and Governance Matters Social Responsible Company “Empresa Socialmente Responsable”, During 2023, 30% of for 13th consecutive year. our corporate staff were women. Part of the 2023 and 2022 Gender equality and Bloomberg Gender labor inclusion policy to Equality Index foster diversity. Code of
Slide 12: 1Q24 PAX Impacted by Engine Recall and Otis Hurricane
1Q24 PAX Impacted by Engine Recall and Otis Hurricane 2024 2023 2024 2024 Domestic -3.4% vs 2023 International +10.0% vs 2023 +10.0% +7.7% 334 308 +12.7% 282 1,754 1,675 -7.4% -0.1% 1,537 -1.5% Jan Feb Mar Jan Feb Mar 2024 Total Terminal Passengers -1.5% 2023 vs +0.6% 1,982 +0.4% 1,818 2,088 -5.0% F
Slide 13: Route Development
Route Development 11 routes opened in 1Q24 Top 10 Routes 1Q24 Atlanta +0.8% Austin Denver 15.9% Ciudad Victoria Santa Lucia Santa Lucia Ciudad Victoria Santa Lucia Ciudad Victoria -10.0% -15.1% 4.5% -14.1% -1.0% -27.3% +26.8% 3.6% +8.7% -21.3% 3.3% 3.2% -4.8% Monterrey 2.9% 2.8% 2.4% 2.0% 1.9% Chica
Slide 14: Airline Breakdown 1Q24
Airline Breakdown 1Q24 Total Domestic International 6% / -4%; 1% / +12%; Others Magnicharters 2% / +20%; United Airlines 1% / -36%; 1% / +12%; 4% / +8%; TAR Others American Aerolíneas Airlines 21% / -12%; 23% / +18%; 27% / +8%; Grupo Others American Aeroméxico Airlines 19% / -9%; Grupo Aeroméxico 6%
Slide 15: Aeronautical Revenue
Aeronautical Revenue +1.2% Ps. (mm) vs 2023 Domestic PAX Charges 9,700.00 International PAX Charges 9,035 8,932 Aeronautical Revenue 10000 Airport Services and others Ps. (mm) 8,700.00 7,700.00 7,056 12% 12% 8000 6,700.00 Continued Growth 5,140 5,753 5,278 13% 19% 19% 5,700.00 in Aeronautical 6000 4
Slide 16: Solid Non-Aeronautical Revenue Performance
Solid Non-Aeronautical Revenue Performance Non Aeronautical Revenue +3.1% Ps. (mm) vs 2023 Complementary Activities Baggage-screening systems and leasing 3,000.0 2,708 3,000.00 2,627 of non-essential space to airlines. 2,230 2,500.00 2,500.0 15% 1,820 15% 2,000.00 1,625 1,653 1,456 Diversification A
Slide 17: Commercial Strategy
Commercial Strategy OMA has a commercial area of approximately 23,472 m2 in its 13 airports. We constantly look for the optimization of these areas and the diversification of products and services aligned to our passenger needs. Increase of Optimization of both Maintenance of passenger domestically
Slide 18: Commercial Revenue
Commercial Revenue Includes communications and networks, shared time, hotel promotion, financial services and passenger services. Direct operation and Other management of parking Parking 30% areas across our airports Other Parking 8% Along with advertising 1Q24 Commercial providers, we Revenue comme
Slide 19: Diversification Revenue
Diversification Revenue 12%* 11%* 4%* 4%* 2%* OMA NHT2 HILTON INDUSTRIAL REAL ESTATE CARGA COLLECTION GARDEN INN PARK MTY & OTHER Revenues: +1.9% vs 1Q23 Avg. Room Rate: 2,599 Avg. Room Rate: Ps. 2,794 Revenues: +32.1% vs 1Q23 Occupancy Rate: 88.7% (vs Occupancy Rate: 77.3% (vs Warehouses leased: Re
Slide 20: Historical Non-Aeronautical Revenue Growth per PAX
Non-Aeronautical Revenue per Passenger Commercial Revenues CAGR 2017 – LTM Mar 24 +4.6% 120.00 Diversification Revenues 120.0 Complementary Revenues 106 98 101 96 100.00 17% 92 100.0 15% 15% 79 16% 80.00 74 75 18% 80.0 16% 16% 34% 33% 16% 33% 34% 60.00 34% 60.0 35% 34% 36% Historical Non- 40.00 40.0
Slide 21: Cost and Efficiency
Strategy • Development of a culture of savings • Optimization of contracted services • Improvement of operational systems • Energy consumption efficiency • Seek operational leverage • Management of human capital Operating Costs and Expenses / Passenger CAGR 2017 – 2023 +0.9% Cost and Efficiency 2017
Slide 22: Attractive Distributions to Shareholders
Payout Ratio % Dividend Yield %1 6,370 Dividends (Ps. Millions)2 4,250 3,750 2,300 1,200 1,400 1,600 1,600 1,600 - 12.4 6.2 6.1 Attractive 4.4 4.2 4.5 3.9 4.3 4.2 distributions to 580 Shareholders 147 156 - 117 96 80 86 75 56 - 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 Dividend yield was c
Slide 23: Healthy Balance Sheet
Healthy Balance Sheet Low Leverage Strong Financial Position (Net Debt/Adjusted EBITDA) (Ps.mm) 1.0 0.9 0.7 10,872 0.5 0.4 7,434 0.3 0.3 3,439 Total Debt Cash Net Debt 2017 2018 2019 2020 2021 2022 2023 Manageable Maturity Profile Debt Profile Highest Credit Ratings in Mexico (Ps.mm) OMA 21-2 OMA 23
Slide 24: Master Development Program 2021-2025
Master Development Program 2021-2025 Committed Investments by Period 2,394 Total Committed 2,702 Investment* 3,482 15,515 3,528 Ps. 15,515mm 3,409 2021 2022 2023 2024 2025 Total Committed Investments in line with passenger contribution Others 8% Note: 14% of Total Committed Investments Represents Ma
Slide 25: Terminal A Expansion – Monterrey Airport, Phase 1
Expected start of operations Capacity Public Areas Start of operations (mmPax) Total Area Terminal A Expansion – Monterrey Airport West Side: Wing #1 Terminal A: 5.3 62,400 m2 → Terminal building Phase 1: Expansion of the public areas of Terminal A and Temporary Boarding Gate Opened May 2022 June 20
Slide 26: Terminal A Expansion – Monterrey Airport, Phase 2
Expected start of Capacity Total Area Terminal A Expansion – Monterrey Airport operations (mm Pax) Terminal A: 12.5 80,050 m2 → Terminal Phase 2: Expansion of the public areas of Terminal A and Construction of Wing #2 Public Areas building Terminal B: 3.4 88,452 m2 +11% Late 2025 →15.9 Commercial Sp
Slide 27: Expansion and Remodeling – Culiacán Airport
Expected start of Investment Capacity Total Area Expansion and Remodeling – Culiacán Airport operations (mm Pax) 12,128 m2 → Terminal building 2025 Ps. 544mm 1.9 → 3.6 26,187 m2 +116% Commercial Spaces +49% 27 Boarding Gates Check-In Area
Slide 28: Expansion and Remodeling – Ciudad Juárez Airport
Expected start of Investment Capacity Total Area Expansion and Remodeling – Ciudad Juárez Airport operations (mm Pax) 7,356 m2 → Terminal building 2Q24 Ps. 591 mm 1.0 → 2.1 12,579 m2 +71% Commercial Spaces +90% 28 Airport Entrance Airside
Slide 29: Maximum Tariffs
Maximum Tariff Compliance 97.8% 99.0% 99.3% 97.5% 94.5% 92.1% 89.5% 2017 2018 2019 2020 2021 2022 2023 Maximum Tariffs Visibility on Tariffs (Maximum Tariffs per year 1) 333 331 328 326 323 2021 2022 2023 2024 2025 1 Weighted average using 2019 passenger traffic, expressed in constant MXN of Decembe
Slide 30: Value Creation Strategy
Foster Passenger Traffic and Connectivity 1 • Monterrey HUB • Regional bases of operation • International passenger development Maximize Commercial Revenues • • • Increase commercial areas • Concentration of commercial activity in airside Direct operation of businesses (VIP Lounges) Competitive proc
Slide 31: Mexico’s Favorable Demographics
Air Industry has Low Penetration in Mexico… Flights per capita per year 2.8 1.1 0.5 0.5 0.5 0.6 Brazil Perú Mexico Colombia Chile United States Mexico’s Source: Airbus 2022. (Global Market Forecast 2022-2041) And favorable demographics Favorable Growing potentially new travelers Demographics Populat
Slide 32: Industry Capacity in Mexico
Seat Capacity Aeroméxico (thousands of available seats) Interjet Volaris VivaAerobus 100 96 Others 90 80 70 54 50 62 60 50 40 8% 29% 3% 6% 4% 23% 13% 22% 43% 26% 35% 20% 36% 35% 38% 39% 20% Industry 2020 2021 2022 2023 Capacity in Fleet (number of airplanes) Mexico 341 297 358 368 34 72 34 36 26 66
Slide 33: Contact
Contact Chief Financial Officer Ruffo Pérez Pliego del Castillo rperezpliego@oma.aero Investor Relations Luis Emmanuel Camacho Thierry ecamacho@oma.aero +52.81.8625.4308 Follow us on: 33
Grupo Aeroportuario del Centro Norte S.A.B. de C.V. — Q1 2024 Earnings Presentation on 6ix