OMA Announces Second Quarter 2018 Operating and Financial Results
July 18 2018 - 6:38PM
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 second quarter of 2018.
Highlights
- Adjusted EBITDA grew 25.7%, with a margin of 70.5%
- Aeronautical and Non-Aeronautical revenues increased 16.0%
- Passenger traffic increased 9.6%
- 33 commercial initiatives were implemented, including retail
stores, restaurants, and car rental, among others
- Cost of services and G&A expenses decreased 8.5%
- Net income rose 39.2%
|
|
|
|
|
|
|
|
(Thousand Passengers
and Million Pesos) |
2Q17 |
2Q18 |
% Var |
6M17 |
6M18 |
% Var |
Passenger Traffic |
4,920 |
|
5,010 |
|
9.6 |
18,764 |
|
19,662 |
|
8.8 |
|
Aeronautical Revenues |
1,079 |
|
1,269 |
|
17.6 |
2,093 |
|
2,473 |
|
18.1 |
|
Non-Aeronautical Revenues |
360 |
|
401 |
|
11.3 |
698 |
|
776 |
|
11.3 |
|
Aeronautical + Non-Aeronautical Revenues |
1,439 |
|
1,670 |
|
16.0 |
2,791 |
|
3,250 |
|
16.4 |
|
Construction Revenues |
300 |
|
318 |
|
5.8 |
567 |
|
670 |
|
18.2 |
|
Total Revenues |
1,739 |
|
1,987 |
|
14.3 |
3,358 |
|
3,919 |
|
16.7 |
|
Adjusted EBITDA |
936 |
|
1,178 |
|
25.7 |
1,808 |
|
2,250 |
|
24.5 |
|
Adjusted EBITDA Margin (%) |
65.1% |
|
70.5% |
|
|
64.8% |
|
69.2% |
|
|
|
Income from
Operations |
790 |
|
1,038 |
|
31.4 |
1,540 |
|
1,983 |
|
28.8 |
|
Operating Margin (%) |
45.4% |
|
52.2% |
|
|
45.9% |
|
50.6% |
|
|
|
Consolidated
Net Income |
510 |
|
709 |
|
39.2 |
933 |
|
1,320 |
|
41.4 |
|
Net Income of Controlling Interest |
507 |
|
705 |
|
38.9 |
928 |
|
1,313 |
|
41.5 |
|
EPS
(Ps.) |
1.29 |
|
1.79 |
|
39.0 |
2.36 |
|
3.34 |
|
41.6 |
|
EPADS (US$) |
0.57 |
|
0.72 |
|
26.2 |
1.05 |
|
1.34 |
|
28.5 |
|
MDP and Strategic Investments |
331 |
|
436 |
|
31.7 |
643 |
|
859 |
|
33.6 |
|
|
|
|
|
|
|
|
|
2Q18 Results Summary
OMA generated a 25.7% increase in Adjusted
EBITDA in 2Q18, with an Adjusted EBITDA margin of 70.5%.
Aeronautical and non-aeronautical revenues rose
a combined 16.0%, on a 9.6% increase in total passenger traffic
volumes.
Aeronautical revenues rose 17.6%, as a result of
higher traffic volumes and the increase in tariffs implemented in
January 2018.
Non-aeronautical revenues grew 11.3%, led by
growth in the car rental, OMA Carga, and parking line
items.
Cost of airport services and G&A expense
decreased 8.5%. The reduction reflected primarily reduced
payroll, contracted services, and minor maintenance as a
result of cost control initiatives. Total operating costs and
expenses were unchanged from the prior year period.
Capital investments and major maintenance
included in the Master Development Plans (MDPs) plus strategic
investments reached Ps. 436 million. Investments included the
completion of the new passenger terminal in the Acapulco airport;
the construction of a new passenger terminal in Reynosa; expansion
and remodeling of the Chihuahua, San Luis Potosi, and Tampico
passenger terminals; and a new regional passenger boarding area in
Monterrey’s Terminal B. All investments were funded out of
cash generated from operations.
The ratio of net debt to EBITDA was 0.70 as of
June 30, 2018.
OMA’s complete earnings report is available at
http://ir.oma.aero.
OMA will hold its 2Q18 earnings
conference call on July 19, 2018 at 11 am Eastern time, 10 am
Mexico City time.
Call 1-888-394-8218 toll-free from the U.S. or
1-323-701-0225 from outside the U.S. The conference ID is 4899479.
The conference call will also be available by webcast at
http://ir.oma.aero/events.cfm.
A taped replay will be available through July 26,
2018 at 1-844-512-2921 toll free or + 1-412-317-6671, using the
same conference ID.
This press release may contain forward-looking
information and statements. Forward-looking statements are
statements that are not historical facts. These statements are only
predictions based on our current information and expectations and
projections about future events. Forward-looking statements may be
identified by the words “believe,” “expect,” “anticipate,”
“target,” “estimate,” or similar expressions. While OMA's
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that forward-looking information and statements are subject to
various risks and uncertainties, many of which are difficult to
predict and are generally beyond the control of OMA, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include,
but are not limited to, those discussed in our most recent annual
report filed on Form 20-F under the caption “Risk Factors.” OMA
undertakes no obligation to update publicly its forward-looking
statements, whether as a result of new information, future events,
or otherwise.
About OMA
Grupo Aeroportuario del Centro Norte,
S.A.B. de C.V., known as OMA, operates 13 international airports in
nine states of central and northern Mexico. OMA’s airports serve
Monterrey, Mexico’s third largest metropolitan area, the tourist
destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other
regional centers and border cities. OMA also operates the NH
Collection Hotel inside Terminal 2 of the Mexico City airport and
the Hilton Garden Inn at the Monterrey airport. OMA employs over
1,000 persons in order to offer passengers and clients airport and
commercial services in facilities that comply with all applicable
international safety, security, and ISO 9001:2008 environmental
standards. OMA is listed on the Mexican Stock Exchange (OMA)
and on the NASDAQ Global Select Market (OMAB). For more
information, visit:
- Webpage http://ir.oma.aero
- Twitter http://twitter.com/OMAeropuertos
- Facebook
https://www.facebook.com/OMAeropuertos
CONTACT:
Chief Financial OfficerRuffo Pérez Pliego+52
(81) 8625 4300rperezpliego@oma.aero
Investor Relations: Emmanuel Camacho +52 (81) 8625 4308ecamacho@oma.aero
In the US: Daniel Wilson /Zemi Communications+1 (212) 689 9560dbmwilson@zemi.com
Media Relations:Paola Fernández+52 (81) 8625 4300pfernandez@oma.aero
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