Corporacion America Airports SA (CAAP) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

As a reminder, all participants are in a lesson-only mode. There will be an opportunity to ask questions at the end of the presentation. At this time, I would like to turn the call over to Patricio Iñaki-Efnaula, Head of Investor Relations. Patricio, please go ahead. Thank you. Good morning, everyone, and thank you for joining us today. Speaking during today's call will be Martina Ornekian, our Chief Executive Officer, and Jorge Arruda, our Chief Financial Officer. Before we proceed, I would like to make the following Second Harbor Statement. Today's call will contain forward-looking statements, and I refer you to the forward-looking statement section of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances. Please note that throughout the call, All references to revenues, costs, adjusted EBITDA, and margin, we refer to figures excluding IFRIC 12. I will now turn the call over to our CEO, Martin Ornagian. Thank you, Yaki. Good day, everyone, and thank you for joining us today. I am pleased to report an excellent quarter for CAAP. Passenger traffic was up almost 14% from last year, with strong growth in the great majority of our markets. Argentina had a standout performance, hitting a new second quarter historical record with double-digit increases in both international and domestic travel. We also saw solid gains in Brazil, Italy, Uruguay, and Armenia, while Ecuador remained largely flat. Italy, Uruguay, and Armenia also hit new second quarter historical records. On the top line, revenues grew nearly 19%, outpacing passenger growth and demonstrating a strong execution of our management team in increasing revenues per passenger, as well as the q...