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 — Q4 2012 Earnings Presentation
24 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Feb 22, 2013
Slide 1: ______________________________________ Unless otherwise stated, all references are to the fourth quarter of 2012 (4Q12),
______________________________________ 1 Unless otherwise stated, all references are to the fourth quarter of 2012 (4Q12), and all percentage changes are with respect to the same period of the prior year. The exchange rate used to convert foreign currency amounts was Ps. 12.9658 per U.S. dollar as o
Slide 2: Investor relations contacts
> José Luis Guerrero Cortés | > Daniel Wilson a” OMA, CFO Zemi Communications +52.81.8625.4300 ext. 308 +1.212.689.9560 ext. 264 jlguerrero @oma.aero dimwilson@zemi.com ICAI _\e @ 8 Atnoroars DE pani= SOCIAUMENTE Tmnnnocasat RESPONSABLE
Slide 3: Flight operations and passenger traffic
The total number of flight operations (takeoffs and landings) decreased 1.7% to 83,927 operations. Domestic flight operations and international operations decreased 1.7% and 1.3%, respectively. Total passenger traffic increased 6.8% (+204,428 terminal passengers). Traffic increased most in the Monte
Slide 4: Air cargo and non-aeronautical operations
Air Cargo volumes decreased 5.7%, principally as a result the end of operations by some freight consolidators. Of total air cargo volume, 63.8% was domestic and 36.2% was international. During 2012, OMA began to operate checked baggage screening for explosives in its 13 airports, in order to increas
Slide 5: NH Terminal Hotel Operations
NH Terminal 2 Hotel Operations The NH T2 hotel in the Mexico City International Airport had an average occupancy rate of 79.6%, as compared to 84.8% in 4Q11. The decrease principally reflects in part the relocation of United/Continental operations to Terminal 1. The NH T2 hotel had the highest occup
Slide 6: Aeronautical revenues
Aeronautical revenues increased 3.3% to Ps. 544 million. Domestic passenger charges increased 4.2% principally as a result of increased domestic traffic. International passenger charges decreased 5.4%, principally as a result of exchange rate movements. Aeronautical revenue per passenger decreased 3
Slide 7: Non-aeronautical revenues
Non-aeronautical revenues increased 20.7%, principally because of growth in revenues from checked baggage screening, the NH T2 hotel, and parking. NH T2 hotel revenues increased 9.7% to Ps. 41 million, principally as a result of increased restaurant revenues and rate increases. Revenue per available
Slide 8: Costs and Operating Expenses
Costs and Operating Expenses Total cost of services and general and administrative expenses , excluding the maintenance provision, construction costs, and hotel costs and expenses, increased 2.2%, principally because of the contracting of personnel to staff the checked baggage screening equipment, t
Slide 9: Concession tax, technical assistance fee and depreciation
The airport concession tax increased 11.7% because of the growth in revenues. The technical assistance fee increased 5.1%, as a result of the increase in EBITDA. Depreciation and amortization increased 12.1%, principally as a result of increased investments, including the expansion of Terminal C in
Slide 10: Adjusted EBITDA and Operating Income
Adjusted EBITDA and Operating Income Adjusted EBITDA was Ps. 382 million in 4Q12, an increase of 11.8%. The Adjusted EBITDA margin was 51.5%, an increase of 200 basis points over the prior year period, and a reflection of OMA’s initiatives to increase cash flow. OMA calculates Adjusted EBITDA as sho
Slide 11: Adjusted EBITDA reconciliation
(Ps. thousands) Net Income plus: Comprehensive Financing cost Income Taxes Operating income Operating margin % plus: Depreciation and amortization EBITDA minus: Construction revenue plus: Construction expense ‘Maintenance provision Adjusted EBITDA Adjusted EBITDA margin: Adjusted EBITDA / (Aeronauti
Slide 12: Comprehensive financing expense and taxes
Comprehensive financing expense was Ps. 20 million in 4Q12, an increase of 4.5%. The increase was principally the result of a higher level of interest expense as a result of increased leverage to improve the capital structure, which was partially offset by a halving of the exchange loss to Ps. 1.1 m
Slide 13: Net income and capital expenditures
Consolidated net income and net income of controlling interest increased 10.9% to Ps. 257 million and Ps. 256 million, respectively. The increases were principally the results of increased operating income. Earnings per share were Ps. 0.64, and earnings per ADS were US$0.40 per ADS. Each ADS represe
Slide 14: Passenger Traffic
Grupo Aeroportuario del Centro Norte, $.A.B. de C.V. Passenger Traffic (Terminal passengers-excudes transit passengers) Total Passengers 4Q11 4012 %Var 12M11 12M12__% Var ‘Acapulco 142,810 137,261 39) 596,326 546,951 3) Ciudad Juarez 175,229 179,666 25 673,364 699,394 3.9 Culiacén 292,521 309,995 6.
Slide 15: International Passengers
International Passengers 4Q11 4Q12_ % Var 412M11 42M12__%Var ‘Acapulco 11,769 11419 (3-0) 101,308 60,683 (4.1) Ciudad Juérez 145 225 55.2 1,318 891 (32.4) Culiacén 2,759 5,495 99.2 13,095 17,575 H2 Chihuahua 16,959 19,724 16.3 68,701 74,477 a4 Durango 4,167 4871 16.9 19,719 23,894 21.2 Mazatlan 79,3
Slide 16: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, $.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of pesos) December 31 December 31 % Var 2011 2012 4Q12 vs 4011 Assets Current assets Cash and cash equivalents 523,634 4,152,433 120.1 Trade Accounts receivable- net 347,240 287,807 (17.1) Trade Acco
Slide 17: Stockholders' equity and total liabilities
Capital Stock 4,394,444 (3,897,168 (11.3) Retained earnings 1,284,922 2,113,366 64.5 Pension obligations : (7,913) na. Share repurchase reserve 397,557 404,774 18 Non-contraliing interest in consclidated subsidiaries 7,577 8,559 13.0 Stockholders’ equity ee "6,084,500 6,415,954 Total liabilities and
Slide 18: Unaudited Consolidated Statement of Income
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Statement of Income (Thousands of pesos) 4Q11 4Q12 %Var 12M11 12M12__% Var Revenues Aeronautical services 527,138 544,296 3.3 1,870,177 2,130,662 13.9 Non-aeronautical services 164,059 198,024 20.7 588,670 688,959 17.0 Const
Slide 19: Income before taxes and EPS
Income before taxes 237,380 272,072 14.6 798,149 1,107,257 38.7 Income tax 5,968 15,514 159.9, 182,070 288,171 58.3 Consolidated netincome 231,412 256,558 10.9 616,079 819,086 33.0 Net income of non-controlling interest 262 227° (13.5) 287 967 276.8 Net income of controlling interest 231,150 256,331
Slide 20: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, $.A.B. de C.V. Unaudited Consolidated Cash Flow Statement (Thousands of pesos) January 1- December 31 2011 2012 % Var. Operating ac Income before taxes 798,149 1,107,257 38.7 Items related to investing activities Depreciation and amor tization 165,088 186,803 13
Slide 21: Financing activities
Financing activities Repurchase of shares Loans obtained Loans repaid Interest expense Dividends paid Capital reimbursement Net cash flow from financing activities Net increase (reduction) in cash and cash equivalents Cash and equivalents at beginning of period Cash and equivalents atend of period (
Slide 22: Statement of Changes in Stockholders' Equity
Grupo Aeropertuario del Centro Norte, S.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity For the twelve months ending on December 31, 2012 (thousand pesos) Additional Reserve for Non- Total Capital stock —_paidin Retained repurchase Labor _—controllling_stockholder's Nominal capit
Slide 23: 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 4qn 4g12 12M 12M12—Culiacén 4qi 4Qi2 amit 1212 Total passengers 1,401.4 1,542.4 5,582.8 6,105.9 Total passengers, 292.5 310.0 1,070.7 1,168.4 Total Revenues 3
Slide 24: Holding Consorcio Grupo Hotelero T2
Holding Consorcio Grupo Hotelero T2 Revenues 37,285 Income from operations 22,893 EBITDA 16,182 41,376 25,215 19,048 141,978 87,503 19,048 158,477 99,808 73,394 “SeeNotesto the Finan formation
Central North Airport Group — Q4 2012 Earnings Presentation on 6ix