Third Quarter 2015 Results Investment Highlights
Positioned to take full advantage of global growth Diversified business model Well-defined strategy to capitalize on favorable industry dynamic Successful commercial and diversification strategy Track record of operating and financial performance Solid capital structure Well-defined capital investment program Focus on total return with strong growth and dividend yield World-class strategic shareholder Experienced management team Transparent regulatory regime 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
C o n t e n t s
Company Overview Commercial and Diversification Strategy Strong Financial Position
Aeronautical Business Operational & Sustainability Leadership Industry and Company Outlook 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Company Overview
Historical Performance 3Q 2015 Highlights Shareholders Business Strategy Historical Performance
Positive tendency despite adverse economic & industry conditions
Aeronautical Revenues Non Aeronautical Revenues Passenger Traffic (million) 16.5
4,900
14.7 1 16.0 CAGR 4,400 14.2 14.1 13.3 3,905 14.0 2002-2014 3,900 12.6 11.8 11.5 11.6 11.8 3,422
12.0 3,400 10.6 3,065 9.7 2,820 26%
2,900 8.6 8.9 26% 10.0 Passenger 2,459 26% 2,400 2,144 24% 1,988 8.0 1,897 1,896 24% 4.6% 1,900 1,687 23% 1,334 1,480 18% 19% 19% 6.0
1,400 1,204 1,137 19% 19% 74% 19% 74% 74% 4.0 900 14% 16% 76% 82% 81% 81% 77% 76% Revenues 81% 2.0 400 86% 84% 81% 81%
-100 0.0 9.6% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 LTM
Adjusted EBITDA 39% 42% 47% 50% 54% 56% 53% 51% 44% 51% 54% 55% 55% 59% Margin2 Note: From 2010 to LTM2015 figures expressed under IFRS; 2001 - 2009 figures expressed under MFRS. 1Represent the sum of aeronautical and non-aeronautical revenues (exclude construction). 2 Adjusted EBITDA Margin = Adjusted EBITDA / (Aeronautical + Non-Aeronautical Revenues). Adjusted EBITDA = Operating income + Depreciation and Amortization + Maintenance Provision. 3Q15 Highlights
Adjusted Consolidated Passengers Revenues* EBITDA** Net Income
4.6m Ps. 1,079m Ps. 673m +15.8% +19.3% +29.1% Ps. 305m +12.9% Domestic +14.8% Aeronautical +16.1% 3Q15 Margin 62.4% International +23.3% Non-Aero +29.7% 3Q14 Margin 60.3%
* Total Revenues not considering Construction Revenues. ** Adjusted EBITDA Margin = Adjusted EBITDA / (Aeronautical + Non-Aeronautical Revenues). Adjusted EBITDA = Operating income + Depreciation and Amortization + Maintenance Provision. Shareholders
AEROINVEST, 23.80%20.9% (B Shares) SETA- AEROINVEST, 12.40% SETA, 16.7%16.70% (BB Shares)
PUBLIC FLOAT, 59.50%62.4%* SETA-ADPM, (B Shares) SETA4.30%-ADP, 4.30% (B Shares)
*Includes 7,250,623 repurchased shares as of September 3oth, 2015 (1.8% of total shares). Business Strategy
Operational, Security & Efficiency Leadership
Maximize Aeronautical Maximize Non-Aeronautical Revenues Revenues
Air Traffic & Connectivity Improve Passenger Experience Development Diversification Business
Sustainable Company 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Aeronautical Business
Synergy with Airlines Connectivity Passenger Traffic Airline Participation Aeronautical Revenues 3Q15 Airline Synergy
Important Projects in 2014... Aeromexico Volaris Interjet Operations with New Regional HUB in MTY Secondary Base in MTY Secondary Base in MTY Airline TAR
11 new routes in 2014 21 new routes in 2014 9 new routes in 2014 12 new routes in 2014 Connectivity
13 new direct routes i n 9 M 1 5 Domestic Routes Airline Monterrey – Toluca Aeromexico Acapulco – Tijuana Interjet Durango – Puerto Vallarta TAR Mazatlán – Guadajalara TAR Mazatlán – La Paz TAR Culiacán – La Paz Volaris Culiacán – San José del Cabo Volaris Torreón – Guadalajara Volaris Torreón – Tijuana Volaris Durango – Tijuana Volaris International Routes Airline Monterrey – Miami Aeromexico Monterrey – Miami American Airlines Monterrey – Dallas Vivaaerobus 16 cancelled routes in 9M15 Passenger Traffic
(+14%) Airport Types (%Part) Passenger Traffic 3Q2015 Metropolitan (50.2%) Border Cities ( 8.1%) Tourist (12.8%) • Total Pax: 4.6 million (+15.8%) (+16%) Regional (28.9%) • Domestic: 4.0 million (+14.8%) (2%) (+21%) • International: 0.6 million (+23.3%) (+10%) (+7%) (+20%) (+16%) (+7%) Passenger Traffic 9M2015 (+24%) (+11%) • Total Pax: 12.5 million (+16.6%) • Domestic: 10.8 million (+15.8%) (+14%) • International: 1.8 million (+21.5%) (+17%) (%) Passenger growth – 9m2015 Airline Participation
Domestic Passengers International Passengers
8% 14% 20% 31% 4% 17% 4% 4% 5% 19% 21% A. Alaska 22% 12% 16% Aeronautical Revenues 3Q15
Domestic International Airport Aeronautical Passenger Charges Passenger Charges Services Revenues
Ps. 495m Ps. 167m Ps. 138m Ps. 800m +8.5% +49.0% +14.2% +16.1%
62% of 21% of 17% of 74% of Total Rev.* Aeronautical Rev. Aeronautical Rev. Aeronautical Rev. Ps. 175 / PAX
* Total Revenues not considering Construction Revenues. 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Non-Aeronautical Business
Commercial Strategy Diversification Strategy Historical Non-Aeronautical Revenue Performance Non-Aeronautical Revenues 3Q15 Commercial Strategy
Innovative International Premium Strategy Maximize Advertising Commercial Areas Franchises & & Loyalty Programs Renowned Local Brands
Commercial Initiatives Implemented in 3Q15 Type Quantity Acapulco, Culiacan y Chihuahua Advertising 4 Ciudad Juarez, San Luis y Zihuatanejo Retailer 3 Ciudad Juarez y Monterrey Bank Services 2 Culiacan y Monterrey Restaurants 2 Zihuatanejo Passenger Services 1 Diversification Strategy
OMA Carga - Logistics Center Hotel NH-T2 Real Estate Development Av. Rate Ps.1,881 Occ. Rate 81.5% %EBITDA 9M15 +154% revenues in 3Q15 38.8% Industrial Park| OMA-VYNMSA Hotel Hilton Garden Inn - MTY Beginning of Operations First August 27th warehouse ready to be Av. Rate leased. Ps. 1,595 Occ. Rate 34.2% Historical Non-Aeronautical Revenue Performance
Non-Aeronautical Revenues (NAR) have increased faster than passenger traffic as a result of commercial initiatives and diversification projects 179.1 Percentage Change NAR Total Passengers 2009 = 0 140.9 115.6
86.6
59.4 43.1 33.2 27.6 9.3 15.4 0.0 0.6 2.2
2009 2010 2011 2012 2013 2014 LTM Non-Aeronautical Revenues 3Q15
Commercial Diversification Complementary Non-Aeronautical Activities Activities Activities Revenues
Ps.143m (+26.3%) Ps. 89m (+37.2%) Ps. 48m (+27.1%) 52% of Non-A. Rev. 32% of Non-A. Rev. 17% of Non-A. Rev. Ps. 279m (+29.7%) 26% of Total Rev * Main Activities Main Activities Main Activities Ps. 61.0 / PAX Parking +27% OMA Carga +154% Baggage Screening +31% Advertising +29% Hotel NH +7% Leases +21% Retail +26%
* Total Revenues not considering Construction Revenues. 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Operations & Sustainability Leadership
2014
Culiacán Airport Mazatlán Airport 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Strong Financial Position
Profitability Indicators Value Distribution Healthy Balance Sheet Master Development Plan We Continue to Improve Profitability
25.0 ROA / ROE 18.8 20.1 20.0 Percentage 16.8
15.0 12.8 10.9 10.1 9.2 10.0 8.2 8.2 6.6
5.0
- 2011 2012 2013 2014 LTM
Earnings per Share 3.01 2.85 Ps. 2.58 2.05 1.54
2011 2012 2013 2014 LTM Focus on Generating Value
Historical Dividend or Capital Dividend Yield and Payout Reimbursement Ratio
Ps.1,400 Million Percentage Payout Ratio Dividend Yield Título del gráfico 1,200 1,200 1,200 250 8.6 10.0 1,200 6.9 5.7 4.2 4.4 1,000
200 5.0
800 147
150 0.0 117 600 500 100 400 100 81 -5.0 400 61
50 -10.0
200
0 0 -15.0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Note: The amounts shown were paid one year after each period. Note: The Dividend Yield was calculated with the stock price at the end of each year. Healthy Balance Sheet
Strong Financial Position Low Leverage vs Industry Ps. Million Net Debt / Adjusted EBITDA 1.0 1.0 0.9 0.8 0.8 4,723 2,389 0.6
2,334 2,334
Total Debt Cash Net Debt 2010 2011 2012 2013 2014 LTM
Debt Profile 5% USD Capital Structure Improvement Total Debt | Shareholders’ Equity 1% Short Term
56% 54% 84% 80% 75% 67%
95% MXN 44% 46% 99% 16% 20% 25% 33% Long Term 2010 2011 2012 2013 2014 sep-15 Master Development Plan
Additional Recognition of MDP* Investment in Land Recognized
Land Acquired 147 146 Federal Government agreed to recognize land 326 reserve for Ps. 487 million acquired for Culiacan and 579 Monterrey airports as improvements to concession 82 5 537 assets. 454 469 We are currently negotiating 107 the next MDP and Maximum Rates for the 2016-2020 218 period. 2011 2012 2013 2014 2015 *Committed Investments. Pesos of December 31, 2009 1 2 3 4 5 6 Company Overview Aeronautical Business Com & Div Strategy Operations & Sustainability Strong Financial Position Industry & Company Outlook
Industry and Company Outlook
Industry Trends Company Outlook 2015 Positive Trends in the Aeronautical Industry
Air Industry Low Projected Domestic Penetration in Mexico Passenger Traffic CAGR 2014-2033
2.4 6.0% 2.0 5.6% 4.7% 4.7%
2.5% 0.8 1.9% 2.0% 0.5 0.3 0.2
Mexico Argentina Brazil Canada Chile United Mexico Brazil United Canada Russia Central South States States America America Source: World Bank. Last information available of 2013 Source: Airbus. (Global Market Forecast 2014-2033). Positive Outlook in Mexico
Airlines’ Fleet Airlines’ Expansion Orders Airplanes Airplane orders (2013 – 2022) 122 100 70 54 55 52 44 18 3 8
TAR Vivaaerobus Interjet Volaris Aeromexico Aeromexico Interjet Vivaaerobus Volaris TAR
Source: DGAC, Airlines. Last information available. Source: DGAC, Airlines. Last information available. Outlook 2015
Current Previous
Passenger Traffic Growth 13%-15% 10%-12%
Aeronautical Revenue Growth 16%-18% 13%-15%
Non-Aeronautical Revenue Growth 23%-26% 18%-20%
Adjusted EBITDA Margin 57%-60% 56%-58%
MDP Investments (Ps. Million) 500-700 500-700
Strategic Investments (Ps. Million) 100-200 100-200
OMA is providing this outlook based on internal estimates. A number of factors could have a significant effect on the estimates of traffic, revenue growth, Adjusted EBITDA, and Capex. These include changes in airline expansion plans, ticket prices and other factors affecting traffic volumes, the evolution of commercial and diversification projects, and economic conditions including oil prices, among others. OMA can provide no assurance that the Company will achieve these results. Chief Financial Officer Vicsaly Torres | [email protected] | +52.81.8625.4300
Investor Relations Team Emmanuel Camacho | [email protected] | +52.81.8625.4308 Manuel Higinio de León | [email protected] | +52.81.8625.4334
Investor Relations in USA Daniel Wilson | Zemi Communications [email protected] | +1.212.689.9560
Investor Relations Lázaro Cárdenas 2225, Torre Latitud. L501 Col. Valle Oriente, San Pedro Garza García N.L. +52 (81) 86.25.43.00 www.oma.aero