Q1 2025 Grupo Aeroportuario del Centro Norte SAB de CV Earnings Call Transcript
Key Points
- Passenger traffic increased by 9.1% year over year, with a total of 6.4 million passengers in the first quarter.
- International passenger traffic saw a significant increase of 15.1%, driven by new routes from Monterrey Airport.
- Aeronautical revenues rose by 13.8%, with commercial revenues per passenger growing by 13% due to VIP lounges, restaurants, and retail.
- Diversification revenues increased by 22%, with OMA Carga contributing significantly to this growth.
- Adjusted EBITDA increased by 16% to MXN2.4 billion, with an adjusted EBITDA margin of 74.9%.
- The company is cautious about future traffic growth due to macroeconomic uncertainties.
- Financing expenses increased by 13% due to lower interest income from a reduced average cash balance.
- There are concerns about capacity cuts by low-cost carriers, which could impact future traffic growth.
- The cost of services and G&A expenses increased by 10.2%, driven by higher costs for security and cleaning services.
- The company decided not to participate in acquiring CCR's assets in Brazil, indicating potential missed expansion opportunities.
Ladies and gentlemen, greetings, and welcome to the Grupo Aeroportuario del Centro Norte, OMA, first-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Emmanuel Camacho, Investor Relations Officer. Please go ahead, sir.
Thank you, Sico. Hello everyone. Welcome to OMA's first-quarter 2025 earnings conference call. We're delighted to have you join us today as we discuss our company's performance and financial results for the past quarter. Joining us today are our CEO, Ricardo Duenas; and our CFO, Ruffo Pérez Pliego.
Please be reminded that certain statements made during the course of our discussion today may constitute forward-looking statements which are based on current management's expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially,
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