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OMA Announces Second Quarter 2018 Operating and Financial Results

/EIN News/ -- MONTERREY, Mexico, July 18, 2018 (GLOBE NEWSWIRE) -- 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:

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

In the US: Daniel Wilson /Zemi Communications
+1 (212) 689 9560
dbmwilson@zemi.com 

Media Relations:
Paola Fernández
+52 (81) 8625 4300
pfernandez@oma.aero 

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