OMA Announces Fourth Quarter and Full Year 2018 Operating and Financial Results
February 11 2019 - 7:00PM
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 fourth quarter and full year 2018.
Highlights full year 2018
- Adjusted EBITDA grew 23.6%, with a margin of 70.0%
- Aeronautical and Non-Aeronautical revenues increased 16.6%
- Passenger traffic increased 9.7%
- Net income rose 34.0%
- Capital investments and major maintenance included in the
Master Development Plans (MDPs) plus strategic investments reached
Ps. 1,449 million in 2018.
Highlights 4Q18
- Adjusted EBITDA grew 21.9%, with a margin of 69.9%
- Aeronautical and Non-Aeronautical revenues increased 17.7%
- Passenger traffic increased 10.4%
- Net income rose 31.2%
|
|
|
|
|
|
|
|
(Thousand Passengers and Million Pesos) |
4Q17 |
4Q18 |
% Var |
2017 |
2018 |
% Var |
|
Passenger Traffic |
5,010 |
5,531 |
10.4 |
19,662 |
21,566 |
9.7 |
|
Aeronautical Revenues |
1,090 |
1,312 |
20.3 |
4,347 |
5,140 |
18.2 |
|
Non-Aeronautical Revenues |
390 |
431 |
10.4 |
1,456 |
1,625 |
11.6 |
|
Aeronautical + Non-Aeronautical Revenues |
1,480 |
1,742 |
17.7 |
5,803 |
6,766 |
16.6 |
|
Construction Revenues |
410 |
279 |
(32.0) |
1,329 |
1,142 |
(14.1) |
|
Total Revenues |
1,891 |
2,021 |
6.9 |
7,133 |
7,907 |
10.9 |
|
Adjusted
EBITDA |
999 |
1,217 |
21.9 |
3,829 |
4,733 |
23.6 |
|
Adjusted EBITDA Margin (%) |
67.5% |
69.9% |
|
66.0% |
70.0% |
|
|
Income from
Operations |
830 |
1,059 |
27.5 |
3,239 |
4,133 |
27.6 |
|
Operating Margin (%) |
43.9% |
52.4% |
|
45.4% |
52.3% |
|
|
Consolidated
Net Income |
625 |
819 |
31.2 |
2,137 |
2,864 |
34.0 |
|
Net Income of
Controlling Interest |
621 |
816 |
31.4 |
2,128 |
2,852 |
34.0 |
|
EPS
(Ps.) |
1.58 |
2.07 |
31.4 |
5.40 |
7.25 |
34.1 |
|
EPADS (US$) |
0.64 |
0.84 |
31.9 |
2.19 |
2.95 |
34.7 |
|
MDP and Strategic Investments |
590 |
342 |
(42.0) |
1,684 |
1,449 |
(14.0) |
|
|
4Q18 Results Summary
Adjusted EBITDA grew 21.9%, with an Adjusted
EBITDA margin of 69.9%.
Aeronautical and non-aeronautical revenues rose
17.7%, while passenger traffic increased
10.4%.
Aeronautical revenues rose 20.3%, mainly as a
result of higher traffic volumes.
Non-aeronautical revenues grew 10.4%, led by
growth in the parking and VIP lounges line items.
Cost of airport services and G&A expense
increased 4.0%. The growth reflected primarily an increase in
payroll expense and electricity tariffs.
Capital investments and major maintenance
included in the Master Development Plans (MDPs) plus strategic
investments reached Ps. 342 million. Investments included the
construction process of a new passenger terminal in the Reynosa
airport, the expansion and remodeling of the Chihuahua and San Luis
Potosí passenger terminals; as well as other operational
infrastructure works. All investments were funded out of cash
generated from operations.
The ratio of net debt to EBITDA was 0.34 as of
December 31, 2018.
OMA’s complete earnings report is available at
http://ir.oma.aero/financial-information/quarterly-results
OMA will hold its 4Q18 earnings
conference call on February 12, 2018 at 11 am Eastern time, 10 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 13686952.
The conference call will also be available by webcast at
http://ir.oma.aero/events.cfm.
This report 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 Officer Ruffo Pérez Pliego +52
(81) 8625 4300 rperezpliego@oma.aero
Investor Relations: Emmanuel Camacho +52 (81)
8625 4308 ecamacho@oma.aero
Grupo Aeroportuario del ... (NASDAQ:OMAB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Grupo Aeroportuario del ... (NASDAQ:OMAB)
Historical Stock Chart
From Sep 2023 to Sep 2024