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 2014 Earnings Presentation
23 slides from Grupo Aeroportuario Del Centro Norte Sab De Cv Class B's earnings presentation, Apr 29, 2014
Slide 1: First Quarter 2014 Summary
Monterrey, Mexico, April 28, 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 first quarter of 2014 today. [1] First Quarter 2014 Summary OMA first quarter results reflect
Slide 2: Terminal passenger traffic increased 6.8%
§ Terminal passenger traffic increased 6.8% to 3.2 million in 1Q14; domestic traffic increased 7.2%, and international traffic increased 5.2%. The airlines with the largest increases in traffic were Aeroméxico, Volaris, Delta, and Interjet. § Nineteen new domestic routes opened in the quarter, as a
Slide 3: Contact information
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 6.8%
Total passenger traffic increased 6.8% (+206,628 passengers). All thirteen airports recorded growth, with the most significant increases in Culiacán (+16.7%; +46,791), Zihuatanejo (+16.8%; +26,757), and Torreón (+26.9%; +26,057). See Annex Table 1, Passenger Traffic for more detail. Of total passeng
Slide 5: International passenger traffic and non-aeronautical operations
International passenger traffic increased 5.2%. Eight airports increased international traffic. Zihuatanejo (+29.9%; +26,588 passengers) increased traffic on the Calgary, Minneapolis, and Toronto routes. Mazatlán (+7.3%; +7,275) benefitted from growth on the Minneapolis route. Five airports had redu
Slide 6: New commercial services opened by airport
‘Acapulco, Ciudad Juarez, Culiacdn, Chihuahua, Durango, Monterrey, ing * He Mazatlan, Reynosa, San Luis, Tampico, Toreén, Zacatecas, Zihuatanejo Aaa Ciudad Juarez, Monterrey Passenger senices 4 Ciudad Juarez, Monterrey, Torresn ‘Stores 4 Monterrey, San Luis Potosi Hotel promotion. 4 Mazatlan Restaur
Slide 7: Aeronautical and non-aeronautical revenues
Monterrey contributed 40.7% of aeronautical revenues, Culiacán 9.6%, Mazatlán 8.0%, and Chihuahua 5.9%. Aeronautical revenues per passenger increased 1.1% to Ps. 172.5. Non-aeronautical revenues increased 12.7%, principally because of growth in revenues from diversification (+20.3%), and commercial
Slide 8: Non-aeronautical revenues
Monterrey contributed 39.3% of non-aeronautical revenues, the NH T2 hotel 23.0%, Mazatlán 4.7%, Culiacán 4.0%, and Chihuahua 3.9%. Non-aeronautical revenues per passenger increased 5.5% to Ps. 64.0; non-aeronautical revenues per passenger have increased for 24 consecutive quarters. Non-aeronautical
Slide 9: Construction revenues
Construction revenues were Ps. 74 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.)
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 17.2% because of the growth in revenues. The technical assistance fee increased 4.3%, as a result of the increase in EBITDA. Depreciation and amortization increased 5.2%, pr
Slide 11: Operating costs and expenses table
(Ps. Thousands) 1013 1014 %Var Cost of Senices 156,059 180,218 155 General and Administrative Expenses (GA) 104,541 123,273 179 ‘Subtotal (Cost of Services + GA) 260,600 303,497 165 Major Maintenance Provision 41,052 42,073 25 Cost of Construction 86,706 74,119 (14.5) Concession Taxes 33,230 38,930
Slide 12: Comprehensive Financing Expense
Comprehensive Financing Expense Comprehensive financing expense was Ps. 15 million in 1Q14. The increase was principally the result of higher interest expense from an increase in debt and an exchange loss as compared to a gain in the prior year period. In addition there was a gain from a change in t
Slide 13: Income tax
Income Tax - Cash 68,870 55,699 (19.1) Income Tax - Deferred (773) (18,044) 378.3 Total Income Tax 65,097 37,655 (42.2) ‘See Notes othe Financial nformation
Slide 14: MDP and Strategic Investment Expenditures
MDP and Strategic Investment Expenditures Total investment expenditures were Ps. 139 million during 1Q14, including MDP projects at the 13 airports and strategic investments. Expenditures under the MDP included improvements to concessioned assets of Ps. 74 million, various smaller accounts, and majo
Slide 15: Most important investments by airport
Airport Monterrey Monterrey Ciudad Juarez San Luis Potosi Tampico Monterrey Zihuatanejo Ciudad Juarez Monterrey Chihuahua Durango Project Design, engineering and construction of the foundation and structure for the Hilton Garden Inn’ Urbanization works for the Industrial Park, Phase | Rehabilitation
Slide 16: Cash Flow Statement
Cash Flow Statement For the first quarter of 2014, operating activities generated cash of Ps. 211 million compared to Ps. 279 million during 2012. The decrease was principally the result of a decrease in accounts payable and an increase in accounts receivable. Investing activities, as presented in t
Slide 17: Passenger Traffic
‘Grupo Aeroportuario del Centro Norte, S.AB. de C.V. ‘Passenger Traffic (Teminal Passengers - Excludes Transit Passengers) Total Passengers 1013 sot4__sevar Acapulco 762.400 64.501 13 Ciudad Jusrez 151,107 171,395; m4 Culiseén 270.768 328.580 187 Chihuahua 11.27 201.148, 52 Durango e404 £2,007 og Ma
Slide 18: Unaudited Consolidated Balance Sheet
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Balance Sheet (Thousands of Pesos) As of March 31st, Var 2013 2014 Ase Curent Assets Cash and Cash Equivalents 2,292,600 4,822,713 @70) ‘Trade Accounts Receivable - Net 300,089 374719 249 Recoverable Taxes 136,151 358,982 16
Slide 19: Unaudited Consolidated Statement of Income
‘Grupo Aeroportuario del Centro Norte, $.A.B. de CV. ‘Unaudited Consolidated Statement of Income (Thousands of Pesos) 4013 so var Revenues Aaronaitieal Revenues omy eset Non-Aeronaxtica! Revenues ss3e23 207.2827 Reronautcal Revenues + Non-Aeronauical Revenues 700,946 765318 ~—«82 Construction Revenu
Slide 20: Unaudited Consolidated Cash Flow Statement
Grupo Aeroportuario del Centro Norte, S.A.B de C.V. Unaudited Consolidated Cash Flow Statement (Thousands of Pesos) As of March 31st, 2013 2014 caVar, Operating Activities Consolidated Net Income 228015 257,854 144 ‘noone Tax e50s7 «37.655 (422) Doubtful Accounts Provision (2.958) (0) 873) Items in
Slide 21: 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 March 31, 2013 (Thousand Pesos) Additional Reserve for Non- Total Number of Capital stock Paidin Retained Repurchase — Labor__—Controlling_Stockholder’s Shares _Nominal Capital Earnings
Slide 22: 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 1913 1914 _Cutiacan 10131914 Total Passengers 1404.1 1,417.2 Total Passengers WB 326.6 Total Revenues 325,101 312,467 Total Revenues, 60,862 79,182, ‘Aeronaut
Slide 23: Analyst coverage
Company Actinver Casa de Bolsa Bank of America Merrill Lynch Barclays Bank PLC BBVA Bancomer Citigroup Credit Suisse Deutsche Bank Goldman Sachs Grupo Bursétil Mexicano (GBM) Grupo Financiero Interacciones HSBC Intercam Casa de Bolsa Invex J.P. Morgan ‘Morgan Stanley Santander Scotiabank UBS Brasil
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