Corporacion America Airports SA (CAAP) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone, thank you for joining us and welcome to Corporación America Airport's second quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Inaki Esnaola, Head of Investor Relations. Please go ahead. Thank you. Good morning, everyone, and thank you for joining us today. Speaking during today's call will be Martin Eurnekian, our Chief Executive Officer, and Jorge Arruda, our Chief Financial Officer. Before we proceed, I would like to make the following safe harbor statement. Today's call will contain forward-looking statements, and I refer you to the forward-looking statement section of our enemies released and recent violence with the FTC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or significant instances. Please note that throughout this call, all references to revenues, costs, adjusted EBITDA, and margins will refer to figures excluding IPX12. Also, all comparisons discussed are year-over-year unless otherwise noted. I will now turn the call over to our CEO, Martin Eurnekian. Thank you, Inaki, and good morning to everyone joining us today. Our second quarter adjusted EBITDA ex-IFRIC 12 was down 4.5%, primarily driven by our cargo business in Argentina, lower ship capacity in the domestic market in Argentina, and non-recurring costs and expenses in Uruguay. Our cargo business in Argentina was primarily affected by an extraordinary bad year-over-year comparison base. Labor disruptions at customs in April 2025 resulted in longer cargo storage periods and consequently exception...