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 — Q1 2011 Earnings Presentation
20 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, May 2, 2011
Slide 1: Passenger traffic decreased 3.7% to 2.7 million in 1Q11
§ Passenger traffic decreased 3.7% to 2.7 million in 1Q11, domestic traffic decreased 1.4% and international traffic decreased 12.1%. Passenger traffic was affected by the suspension of operations of the Grupo Mexicana airlines in August 2010 and the timing of the Holy Week vacation travel period, w
Slide 2: Contact information
# > José Luis Guerrero Cortés — » Daniel Wilson eS Q) OMA, CFO Zemi Communications +52.81.8625.4300 ext. 308 +1.212.689.9560 ext. 264 Is MAB jlguerrero @oma.aero dbmwilson@zemi.com ICAI _ye @ Bursa QMAB iy SOCIALMENTE NASDAQ Atnovoiis pe paris SOOALMENTE NASDAQ
Slide 3: Total passenger traffic decreased 3.7%
Total passenger traffic decreased 3.7% (-104,253 terminal passengers). The reduction is principally the result of the suspension of operations of the Grupo Mexicana airlines in August 2010 and the timing of the Holy Week vacation travel period, which took place in April 2011 but started in March 201
Slide 4: International traffic decreased 12.1%
International traffic decreased 12.1%. Four airports had increases in international traffic. The most significant increases were in Monterrey (+3.7%) and San Luis Potosí (+13.6%). Monterrey benefited from higher traffic on the Houston route and San Luis Potosí benefited from higher volumes on the Da
Slide 5: Terminal Hotel Operations
Terminal 2 Hotel Operations The occupancy rate of the NH T2 hotel in Mexico City continued to increase as a result of advertising and marketing initiatives. The hotel also benefited from an increase in the number of passengers in Terminal 2, as a result of the suspension of operations of Grupo Mexic
Slide 6: Aeronautical revenues decreased 1.2% to Ps. 393.6 million
Aeronautical revenues decreased 1.2% to Ps. 393.6 million. Domestic passenger charges increased 7.1% as a result of tariff increases, while international passenger charges decreased 15.3% as a result of lower traffic volumes and the appreciation of the peso. Aeronautical revenue per passenger increa
Slide 7: Non-aeronautical revenues increased 22.5%
Non-aeronautical revenues increased 22.5%, largely because of an increase in NH T2 hotel revenues and increased commercial revenues from the opening of Terminal B in Monterrey. NH T2 hotel revenues increased 111.6% to Ps. 33.3 million. The composition of hotel revenues was room rental 80.0%, food an
Slide 8: Costs and operating expenses
Costs and operating expenses Total cost of services and general and administrative expenses increased 23.9%, principally because of the increase in the maintenance provision, and to a lesser extent because of the costs of operating the Terminal B in Monterrey (which opened in September 2010), increa
Slide 9: Construction costs, concession tax and technical assistance fee
Construction costs are equal to construction revenue, and represent improvements and additions to concessioned properties that were carried out during the quarter. This amount was Ps. 102.2 million in 1Q11. The Airport concession tax was unchanged from 1Q10; this tax is equal to 5% of gross revenues
Slide 10: EBITDA, Adjusted EBITDA, and Operating Income
EBITDA, Adjusted EBITDA, and Operating Income EBITDA was Ps. 231.5 million in 1Q11. The reduction as compared to 1Q10 was principally because of the increased maintenance provision. Adjusted EBITDA was Ps. 272.5 million in 1Q11, similar to the level in 1Q10. The Adjusted EBITDA margin was 51.5%. OMA
Slide 11: Operating income was Ps. 192.3 million
Operating income was Ps. 192.3 million, and the operating margin was 30.4%. Financing expense, and taxes
Slide 12: Comprehensive financing expense and income tax
C omprehensive financing expense was Ps. 16.3 million, 9.5% below the level of 1Q10. Income tax provision increased as compared to 1Q10 because of estimates of a higher taxable income base as a result of higher income, and a reduction in tax losses at OMA’s subsidiaries. In addition there was a chan
Slide 13: Net income and capital expenditures
Consolidated net income was Ps. 115.8 million, as compared to Ps. 196.3 million in 1Q10. The decrease resulted principally from higher taxes and the increased maintenance provision. Net income of controlling interest was Ps. 115.9 million, as compared to Ps. 197.0 million in 1Q10. Earnings per share
Slide 14: Passenger traffic by airport
(Terminal passengers-excudes transit passengers) “Total Passengers 1910 111 svar ‘eapueo SSS «18828 Ciudad Juarez 143,119 138422 G.3) Cutacén 261,565 23448 (6.9) Chihuahua 160,508 168,629 (6.6) Durango 49,47 49.416 (0.0) Mazatiin 231,281 201,684 (12.8) Monterrey 1,168,260 1,203,843 3.0 Reynosa 48,07
Slide 15: Consolidated balance sheet
(Thousands of pezos) As ofMar. 31st, As ofDec 31st, AsofMar. 31st, Var var 47 2010 2010 472011 ATH Vs TIO ATH Vs 4T10 eee Currant assets ‘Cash and cash equivalents 224,624 312,838 273,866 29 25) ‘Trade Accounts raceivable- net 404377 234481 255,916 72) 92 ‘Trade Account: receivable fromrelated parti
Slide 16: Consolidated income statement, January - March
January - March 2010 201% Var Revenues Aeronautical services 398,571 393,596 (1.2) Non-aeronauticalservices 110,957 135,964 22.5 Construction services 107,507___102,219 (4.9) Total revenues 617,035 631,779) 74 Operating costs Cost of services 130,678 169,645 29.8 Cost of construction 107,507 102,219
Slide 17: Cash flow statement
erating activities Income before taxes 205,553 Items related to investing activities Depreciation and amortization 36,755, 39,110 64 Interest income (3,254) (1,880) 73.1 Items related to financing acti rest Changes in: ‘Trade Accounts receivable- net ettat) (21,475) (64.9) Recoverable taxes 4677) (1
Slide 18: Statement of changes in stockholders' equity
bestatement Additional ecerve for Accum.effect —Non- Total ‘capitaltock forinflation of paidin Retained repurchase from adoption controling stockholder’: ‘nominal _capitalstock capital __earnings__ofshares_of ns_interest_equity Balance a: of December 31,2009 SisGa7S 47723008 ARATN—CSSLET_—OSAT) CTT
Slide 19: Results by airport
“Thousand passengers and thousand pesos 1911 1,208.8 283,188 159,521 54,777 68,889 20,279 34,618 734 48,545 34,359 5,084 9,103 2,501 4,652, Acapulco Total passengers TotalRevenues ‘Aeronautical services Non- Aeronaticalservices Construction services Income from operations 1910 249.41 59,555, 41,956
Slide 20: Changes in accounting policies from IFRS adoption
Following is a description of the changes in the principal accounting policies resulting from the adoption of IFRS: Adoption of IFRS. The financial statements for the year ended December 31, 2010 were the last to be prepared in accordance with MFRS. Effective January 1, 2011, the Company suspended t
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