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 2018 Earnings Presentation
35 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Feb 12, 2019
Slide 1: OMA Announces Fourth Quarter and Full Year 2018 Operating and Financial Results
OMA Announces Fourth Quarter and Full Year 2018 Operating and Financial Results Monterrey, Mexico, February 11, 2019 — Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), today reported its unaudited, consolidated financial and operat
Slide 2: Investor Relations
Investor Relations: ancial Officer Ruffo Pérez Pliego Emmanuel Camacho ++52 (Bt) 8625 4300 ++52 (81) 8625 4308 -scamacho@oma.2er0 ‘perezpliego@oma.sero @OOO /OMAeropuertos
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Slide 4: 4Q18 Results Summary
4Q18 Results Summary Adjusted EBITDA grew 21.9%, with an Adjusted EBITDA margin of 69.9%. Aeronautical and non-aeronautical revenues rose 17.7%, while passenger traffic increased 10.4%. Aeronautical revenues rose 20.3%, mainly as a result of higher traffic volumes. Non-aeronautical revenues grew 10.
Slide 5: 4Q18 earnings conference call details
OMA will hold its 4Q18 earnings conference call on February 12, 2018 at 11 am Eastern time, 10 am Mexico City time. Call 1-877-407-9208 toll-free from the U.S. or 1-201-493-6784 from outside the U.S. The conference ID is 13686952. The conference call will also be available by webcast at http://ir.om
Slide 6: 4Q18 Operating Results
4Q18 Operating Results Operations, Passengers, and Cargo 17 routes were opened during the quarter, including 12 domestic routes and 5 international routes (of which, 4 are seasonal), while 6 routes were cancelled. The number of available seats offered increased 9.6% compared to 4Q17, as a result of
Slide 7: Total passenger traffic increased 10.4%
Total passenger traffic increased 10.4%. Of total traffic, 88.4% was domestic and 11.6% was international. Domestic passenger traffic increased 11.1%. Ten airports increased traffic. The airports with the largest increases were: § Monterrey , mainly on the Mexico City, Cancún, Guadalajara, and Tijua
Slide 8: International passenger traffic
International passenger traffic increased 5.7%. Ten airports recorded increases in international traffic, led by Monterrey, as a result of increased traffic on its Detroit route.
Slide 9: Commercial Operations
Commercial Operations OMA implemented 14 commercial initiatives in the quarter. The commercial space occupancy rate in the passenger terminals was 99.2%.
Slide 10: Hotel Services
Hotel Services § The NH Collection Terminal 2 Hotel had an 84.6% occupancy rate, a decrease of 4.5 percentage points. The average room rate was Ps. 2,369 per night. § The Hilton Garden Inn had a 78.4% occupancy rate, an increase of 1.6 percentage points, with an average room rate of Ps. 2,170. Freig
Slide 11: Industrial Services and Consolidated Financial Results
Industrial Services § OMA VYNMSA Aero Industrial Park: Rental income from the six warehouses on lease reached Ps. 8.4 million. Consolidated Financial Results Revenues Aeronautical revenues increased 20.3%, mainly as a result of higher traffic volumes and an increase in the number of flight operation
Slide 12: Non-aeronautical revenues increased
Non-aeronautical revenues increased 10.4%. Non-aeronautical revenues per passenger was Ps. 77.9. Commercial revenues increased 12.9%. The line items with the largest increases were: § Parking, +20.1%, as a result of increased capacity in the Monterrey, Chihuahua and Reynosa airports, as well as pass
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Slide 14: Diversification revenues grew 7.3%
Diversification revenues grew 7.3%.
Slide 15: Construction revenues
Construction revenues represent the value of improvements to concessioned assets. They are equal to construction costs and generate neither a gain nor a loss. Construction revenues and costs are determined based on the advance in the execution of projects in accordance with the airports’ Master Deve
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Slide 17: Costs and Operating Expenses
Costs and Operating Expenses The sum of cost of airport services and general and administrative expenses (G&A) increased 4.0%, mainly due to an increase in payroll expense as a result of severance payments incurred in the quarter, as well as an adjustment to the retirement labor liability. Basic ser
Slide 18: The major maintenance provision
The major maintenance provision was Ps. 65 million. The outstanding balance of the maintenance provision as of December 31, 2018 was Ps. 944 million. The airport concession tax increased 22.6% as a result of the growth in revenues, while the technical assistance fee increased 28.7%. As a result of t
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Slide 20: Operating Income and Adjusted EBITDA
Operating Income and Adjusted EBITDA Operating income rose 27.5%, with an operating margin of 52.4%. Adjusted EBITDA increased 21.9%, with an Adjusted EBITDA margin of 69.9%.
Slide 21: Financing Income, Taxes, and Net Income
Financing Income, Taxes, and Net Income Financing Income was Ps. 20 million.
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Slide 23: MDP and Strategic Investments
MDP and Strategic Investments Capital investments and major maintenance works in the MDPs and strategic investments totaled Ps. 342 million, comprised of Ps. 279 million in improvements to concessioned assets, Ps. 53 million in major maintenance, Ps. 2 million in other expenditures and Ps. 8 million
Slide 24: 2018 capital investments and major maintenance
In 2018, capital investments and major maintenance works in the MDPs and strategic investments totaled Ps. 1,449 million, comprised of Ps. 1,142 million in improvements to concessioned assets, Ps. 139 million in major maintenance, Ps. 3 million in other expenditures and Ps. 165 million in strategic
Slide 25: Debt
Debt
Slide 26: Derivatives and Cash Flow Statement
Derivatives As of the date of this report, OMA has no financial derivatives exposure. Cash Flow Statement In the twelve months of 2018, cash flows from operating activities increased 26.1% to Ps. 3,684 million. The increase resulted mainly from higher operating income. Investing activities used cash
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Slide 28: Material Events
Material Events OMA informs the appointment of its Chief Executive Officer. On November 12, 2018, Ricardo Dueñas was appointed Chief Executive Officer of OMA.
Slide 29: Passenger Traffic
Passenger Trafic (Terminal Passengers Excludes TWansitPassengers) “otal Pasengers a7 agi svar 2017 2018 sever “eapuleo T2219 T6067 85 Tas.i24 Taz 73 Cludadudrer 2ozoie 351893 20511731351 368,028 163 Culiacdn 529,615 590500 151903651 2270838 © 89 Chihuahua 353,532 soaies «21409579 «1586.70 104 owrang
Slide 30: Unaudited Consolidated Balance Sheet
OMIA Grupo Aeroportuariod Norte, SAB. de CV. Unaudited Consolidated Balance Sheet (Thousands of Pesos) December31, December 31, evar 2017 2018 Dect8/Dec17 ‘evets Current Assets (Cash and Cash Equivalents 2,333,007 2,958,902 Other Investments Held to Maturity 49,338 19,657 Trade Accounts Receivable -
Slide 31: Unaudited Consolidated Income Statement
rape Aeroportuarlo del Centro Norte, (Mousands ofPesos) say taie ve 0n7 20a peronutial Revenues tevin uainste 203 azeron —saao0s2 82 Non eronautia Revenues ne0037__ 420626 104 __sasease _s2sag7__ 116 “aroma RevenvessNonAaronauicalRavenoes”“LA80208 742,70 17.7 $0336 6.765549 386 Constvetion Revenues
Slide 32: Unaudited Cash Flow Statement
OMA (Thousands ofPesos) ‘Operating Action Income BeforeTates 2950515 383 Major Maintenance Provision weiss 245636.) Doubt accounts Provision (a0s61) (5960) 13.6) (Profit /Loss on Seles of Machinery and Equipment -Net ‘340 83) 07) Interest income qari) (soaso) as tems n Reus Related to Fnancing Activ
Slide 33: Statement of Changes in Stockholders' Equity
=—OMA ‘Grup Aeroportuaro del Centro Norte, SAB. de. Unaudited Statement of Changesin Stockholders’ Equlty asc December 31,2017 Pesos Additonal share Noo: Total umberot Captalstock Paldin———Retained Repurchase Labor -—=Cantoling—Stoctholder's Shares ___Nominal__Capital_Earngs__Reserve__Obliations _ i
Slide 34: Unaudited Operating Results by Airport
OMA Grupo Aeroportuari de Centro Norte, S.A. de C.¥. Unaudited Operating Results (Mhousands ofPesos) Monterrey aqi7 ais 2017 2018 ullacén 4qu7 ars 2017 2018 Total Revenues 706,680 885,176 2,960,897 3,330,084 Total Revenues 133803 —(168,633, 506,057 630,741 ‘Aeronautical Revenues «$29,125 «635,574 «2
Slide 35: Analyst Coverage
Company Actinver Cacade Bolsa Bank of America Mertll Lynch Banorte-DE BarclaysBank PLC BBVA Bancomer Bradesco BB! Citigroup Credit sulsse Goldman Sachs Grupo BursétiI Mexicano (GBM) GrupoFinanclerointeracclones Name Pablo Abraham Alan Maclas José Espitia Pablo Monsivdis Mauricio Heménde2Prida Leaner
Central North Airport Group — Q4 2018 Earnings Presentation on 6ix