OMA 2Q18 Results, Vf
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OMA Announces Third Quarter 2019 Operating and Financial Results Monterrey, Mexico, October 17, 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 operating results for the third quarter 2019. 3Q19 Summary . Passenger traffic grew 6.9%, reaching 6.1 million passengers. Capital investments and major maintenance included in the Master Development Plans (MDPs) plus strategic investments amounted Ps. 357 million for the quarter. During the quarter, we inaugurated the expansion and remodeling of the San Luis Potosí and Chihuahua airports terminal buildings. (Thousand Passengers and Million Pesos) 3Q18 3Q19 % Var 9M18 9M19 % Var Passenger Traffic 5,750 6,145 6.9 16,035 17,217 7.4 Aeronautical Revenues 1,355 1,491 10.0 3,829 4,310 12.6 Non-Aeronautical Revenues 418 465 11.2 1,195 1,347 12.7 Aeronautical + Non-Aeronautical Revenues 1,774 1,956 10.3 5,023 5,657 12.6 Construction Revenues 193 199 3.2 863 607 (29.6) Total Revenues 1,967 2,155 9.6 5,886 6,264 6.4 Adjusted EBITDA 1,266 1,450 14.5 3,516 4,160 18.3 Adjusted EBITDA Margin (%) 71.4% 74.1% 70.0% 73.5% Income from Operations 1,091 1,286 17.9 3,074 3,691 20.1 Operating Margin (%) 55.5% 59.7% 52.2% 58.9% Consolidated Net Income 725 858 18.2 2,045 2,466 20.6 Net Income of Controlling Interest 723 856 18.4 2,036 2,462 20.9 EPS (Ps.) 1.84 2.18 18.7 5.17 6.26 21.0 EPADS (US$) 0.78 0.89 13.5 2.20 2.55 15.7 MDP and Strategic Investments 247 357 44.5 1,106 867 (21.6) Chief Financial Officer Investor Relations: Ruffo Pérez Pliego del Castillo Luis Emmanuel Camacho Thierry +52 (81) 8625 4300 +52 (81) 8625 4308 [email protected] [email protected] www.oma.aero OMA will hold its 3Q19 earnings conference call on October 18, 2019 at 12 pm Eastern time, 11 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 13695577. The conference call will also be available by webcast at http://ir.oma.aero/events.cfm. 3Q19 Operating Results Operations, Passengers, and Cargo 2 routes were opened during the quarter, including 1 domestic and 1 international route, while 1 route was cancelled. The number of available seats offered increased 6.8% compared to 3Q18. Opened Closed Airline # Routes Origin Destination Origin Destination # Routes Origin Destination Origin Destination Domestic Routes TAR 1 DGO Querétaro Interjet 1 MTY Bajío International Routes Magnicharters 1 MTY Santa Clara, Cuba Total passenger traffic increased 6.9%. Of total traffic, 89.3% was domestic and 10.7% was international. Domestic passenger traffic increased 6.4%. Ten airports increased traffic. The airports with the largest increases were: . Ciudad Juárez (+17.6%), mainly on the Mexico City, Bajío and Cancún routes. Culiacán (+10.9%), on its Mexico City and Tijuana routes. Chihuahua (+9.6%), on its Mexico City and Tijuana routes. Acapulco (+20.6%), on its Mexico City route. International passenger traffic increased 11.2%. Twelve airports recorded increases in international traffic, led by Monterrey (+7.8%), as a result of increased traffic on its Houston route. 2 3Q18 3Q19 % Var 9M18 9M19 % Var Available Seats 7,609,042 8,127,223 6.8 21,668,561 23,139,065 6.8 Passenger Traffic: Domestic 5,159,082 5,488,464 6.4 14,124,126 15,165,291 7.4 International 590,423 656,510 11.2 1,911,139 2,051,267 7.3 Total Passenger Traffic 5,749,505 6,144,974 6.9 16,035,265 17,216,558 7.4 Commercial Aviation (Regular and Charter) 5,725,835 6,123,653 6.9 15,879,408 17,089,199 7.6 General Aviation 23,670 21,321 (9.9) 155,857 127,359 (18.3) Cargo Units 248,618 238,977 (3.9) 735,115 727,528 (1.0) Workload Units 5,998,123 6,383,951 6.4 16,770,380 17,944,086 7.0 Flight Operations (Takeoffs and Landings): Domestic 77,324 75,796 (2.0) 150,727 147,471 (2.2) International 10,808 11,134 3.0 22,905 23,145 1.0 Total Flight Operations 88,132 86,930 (1.4) 173,632 170,616 (1.7) Commercial Operations OMA implemented 21 commercial initiatives in the quarter. The commercial space occupancy rate in the passenger terminals was 98.7%. Detail of Commercial Initiatives Implemented Airport Type Quantity Culiacán, Chihuahua, Monterrey, Mazatlán, Tampico and Torreón Restaurants 8 Chihuahua, San Luis, Tampico, Torreon and Zihuatanejo Bank services 5 Mazatlán and San Luis Hotel Promotion 2 Monterrey and Zacatecas Car rental 2 Tampico Retailer 2 Monterrey Passenger Services 1 Monterrey Communications 1 Hotel Services . The NH Collection Terminal 2 Hotel had an 84.6% occupancy rate, a decrease of 0.2 percentage points compared to 3Q18. The average room rate was Ps. 2,219 per night. The Hilton Garden Inn had a 77.5% occupancy rate, a decrease of 1.7 percentage points, with an average room rate of Ps. 2,282 per night. Freight Logistics Services . OMA Carga’s revenues grew 12.1% as a result of operation of cargo with higher commercial value. During the quarter, handled freight decreased 11.1% to 7,464 metric tons versus 3Q18. 3 Industrial Services . OMA VYNMSA Aero Industrial Park: Rental income reached Ps. 9.9 million, an increase of 49.9%, as a result of the six warehouses on lease compared to four warehouses on lease during 3Q18. Consolidated Financial Results Revenues Aeronautical revenues increased 10.0%. (Ps. Thousands) 3Q18 3Q19 % Var 9M18 9M19 % Var Domestic Passenger Charges 920,200 1,003,639 9.1 2,508,589 2,821,744 12.5 International Passenger Charges 258,243 293,543 13.7 800,432 917,607 14.6 Other Aeronautical Services, Regulated Leases and Access Rights 177,030 194,051 9.6 519,487 570,985 9.9 Aeronautical Revenues 1,355,473 1,491,232 10.0 3,828,508 4,310,337 12.6 Aeronautical Revenues/Passenger (Ps.) 235.8 242.7 2.9 238.8 250.4 4.9 Non-aeronautical revenues increased 11.2%. Non-aeronautical revenues per passenger was Ps. 75.7. Commercial revenues increased 12.3%. The line items with the largest increases were: . Parking, +10.1%, as a result of growth in the number of users and a higher average ticket, mainly in the Monterrey, Chihuahua and Ciudad Juárez airports. Restaurants, +18.2%, due to higher revenue share in Ciudad Juárez, Chihuahua, Monterrey, and Culiacan airports, as well as the beginning of operations of restaurants in airports with new and/or renewed commercial spaces, such as Monterrey, Chihuahua and Acapulco. VIP lounges, +42.7%, because of a higher number of users, and the openings in Terminal C and Terminal B of the Monterrey airport, San Luis Potosí, and Acapulco. Car rental, +9.6%, due to the lease of 7 new locations during 2019, and improved contractual terms. 4 (Ps. Thousands) 3Q18 3Q19 % Var 9M18 9M19 % Var Commercial Activities: Parking 69,785 76,801 10.1 181,148 208,564 15.1 Advertising 18,224 18,854 3.5 46,367 57,483 24.0 Retail 25,044 26,365 5.3 70,978 77,919 9.8 Duty Free 2,961 3,203 8.2 13,166 13,482 2.4 Restaurants 31,390 37,102 18.2 86,795 104,348 20.2 Car Rentals 34,286 37,593 9.6 97,651 111,977 14.7 Passenger Services 676 771 14.1 1,824 3,001 64.5 Time Shares & Hotel Promotion 3,321 4,377 31.8 10,458 12,485 19.4 Communications and Networks 4,257 4,293 0.8 11,785 11,829 0.4 VIP Lounges 9,469 13,509 42.7 25,028 36,028 43.9 Financial Services 2,307 2,723 18.0 6,824 7,545 10.6 Other Services (incl. marketing and cost recoveries) 8,995 11,051 22.9 25,074 31,616 26.1 Total Revenues from Commercial Activities 210,714 236,640 12.3 577,098 676,278 17.2 Diversification revenues grew 9.7%, mainly due to a higher income from OMA Carga, hotel services and industrial services. (Ps. Thousands) 3Q18 3Q19 % Var 9M18 9M19 % Var Diversification Activities: Hotel Services 84,479 88,841 5.2 254,947 266,076 4.4 OMA Carga (Freight Logistics Service) 44,658 50,068 12.1 132,950 145,173 9.2 Real Estate Services 4,063 4,314 6.2 12,054 13,185 9.4 Industrial Services 6,612 9,913 49.9 17,941 28,491 58.8 Other Services (incl. marketing and cost recoveries) 1,057 1,351 27.8 2,880 3,630 26.0 Total Revenues from Diversification Activities 140,870 154,486 9.7 420,772 456,555 8.5 Complementary Activities: Checked Baggage Screening 40,746 46,276 13.6 114,245 130,391 14.1 Other Leases 18,688 20,886 11.8 55,984 62,148 11.0 Access Rights 2,749 3,899 41.8 13,706 13,129 (4.2) Other Services (incl. marketing and cost recoveries) 4,613 2,991 (35.2) 13,064 8,151 (37.6) Total Revenues from Complementary Activities 66,797 74,051 10.9 197,000 213,819 8.5 Non-Aeronautical Revenues 418,380 465,178 11.2 1,194,871 1,346,653 12.7 Non-Aeronautical Revenues/Passenger (Ps.) 72.8 75.7 4.0 74.5 78.2 5.0 Construction revenues represent the value of improvements to concessioned assets.