OMA Announces Third Quarter 2015 Operating and Financial Results

MONTERREY, Mexico, Oct. 26, 2015 (GLOBE NEWSWIRE) -- Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ:OMAB) (BMV:OMA), reported its unaudited, consolidated results for the third quarter of 2015 today.

Third quarter 2015 Summary

OMA recorded solid results in the third quarter, as a result of its initiatives to develop passenger traffic, commercial services, and diversification projects. There were double-digit increases in passenger traffic (+15.8%), aeronautical revenues (+16.1%), non-aeronautical revenues (+29.7%), Adjusted EBITDA (+23.4%), and consolidated net income (+12.9%).

The principal results of the third quarter include:

(Million Passengers and Million Pesos)3Q143Q15% Var 9M149M15% Var
Passenger Traffic 4.0 4.6 15.8 10.8 12.6 16.6
Aeronautical Revenues 689 800 16.1 1,884 2,226 18.1
Non-Aeronautical Revenues 215 279 29.7 618 781 26.5
Aeronautical Revenues + Non-Aeronautical Revenues 904 1,079 19.3 2,502 3,008 20.2
Construction Revenues 90 64 (28.6) 213 255 19.9
Total Revenues 994 1,143 15.0 2,715 3,263 20.2
Income from Operations 449 541 20.6 1,121 1,428 27.4
Operating Margin (%) 45.2% 47.3% 41.3% 43.8%
Adjusted EBITDA 545 673 23.4 1,407 1,799 27.9
Adjusted EBITDA Margin (Adjusted EBITDA/Aeronautical Revenues + Non-Aeronautical Revenues, %) 60.3% 62.4% 56.2% 59.8%
Consolidated Net Income 271 306 12.9 743 841 13.2
Net Income of Controlling Interest 270 305 13.1 741 838 13.1
EPS* (Ps.) 0.68 0.78 1.87 2.13
EPADS* (US$) 0.41 0.36 1.12 0.99
MDP and Strategic Investments 148 154 4.1 438 543 24.0
*Based on weighted average shares outstanding
See Notes to the Financial Information

  • Total terminal passenger traffic increased 15.8% to 4.6 million in 3Q15, and all 13 airports recorded passenger traffic growth. Domestic traffic increased 14.8%; international traffic increased 23.3%. Interjet, Volaris, VivaAerobus, Grupo Aeroméxico, and TAR contributed the most to traffic growth and accounted for 91% of the traffic increase.
  • Aeronautical revenues increased 16.1%, principally as a result of the growth in passenger traffic.
    • Aeronautical revenues per passenger were Ps. 174.7.
  • Non-aeronautical revenues increased 29.7%, principally as a result of OMA Carga, parking, checked baggage screening services, and advertising.
    • Non-aeronautical revenues per passenger increased 12.1%.
    • The Hotel Hilton Garden Inn inside the Monterrey airport started operations on August 27, 2015. It generated revenues of Ps. 3 million, with an average occupancy rate of 34.2%.
  • Adjusted EBITDA increased 23.4% to Ps. 673 million as a result of the continuing efforts to increase revenues and control cost of services and general and administrative expense (+8.4%). The Adjusted EBITDA margin reached a record 62.4%, up 206 basis points.
  • Consolidated net income increased 12.9% to Ps. 306 million. Earnings were Ps. 0.78 per share, or US$ 0.36 per American Depositary Share (ADS). The net income margin was 26.7%.
  • Total investment expenditures for Master Development Plan (MDP) and strategic investments were Ps. 154 million.

Revised 2015 Outlook

OMA estimates that total passenger traffic growth for 2015 will be between 13% and 15% (previously 10% to 12%).

The growth in aeronautical revenues is estimated to be between 16% and 18% (previously 13% to 15%), and non-aeronautical revenues are expected to increase between 23% and 26% (previously 18% to 20%).

The Adjusted EBITDA margin is expected to be between 57% and 60% (previously 56% to 58%).

Master Development Plan investments are expected to be in the range of Ps. 500 to 700 million (unchanged), net of the recognition of land purchases made in prior years (Ps. 131 million in 2015). In addition, strategic investments, principally for diversification projects and new business opportunities, are expected to be in the range of Ps. 100 to 200 million (unchanged).

OMA is providing this outlook based on internal estimates. A number of factors could have a significant effect on the estimates of traffic, revenue growth, Adjusted EBITDA, and Capex. These include changes in airline expansion plans, ticket prices and other factors affecting traffic volumes, the evolution of commercial and diversification projects, and economic conditions including oil prices, among others. OMA can provide no assurance that the Company will achieve these results.

OMA’s complete earnings report is available at http://ir.oma.aero

OMA (NASDAQ:OMAB) (BMV:OMA) will hold its 3Q15 earnings conference call on October 27, 2015 at 12 pm Eastern time, 10 am Mexico City time.

The conference call is accessible by calling 1-888-468-2440 toll-free from the U.S. or 1-719-325-2144 from outside the U.S. The conference ID is 9408722. A taped replay will be available through November 3, 2015 at 1-877-870-5176 toll free or + 1-858-384-5517, using the same ID.

The conference call will also be available by webcast at http://ir.oma.aero/events.cfm.

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 expectations and projections about future events. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “target,” 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 publicly update 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 fourth largest metropolitan area, the tourist destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates a hotel and commercial areas inside Terminal 2 of the Mexico City 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 standards, and ISO 9001:2008. OMA’s strategic shareholder members are ICA, Mexico’s largest engineering, procurement, and construction company, and Aéroports de Paris Management, subsidiary of Aéroports de Paris, the fourth largest European airports operator. OMA is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB). For more information, please visit us at:


CONTACT: Chief Financial Officer Vicsaly Torres Ruiz +52 (81) 8625 4300 vtorres@oma.aero Investor Relations In Mexico Luis Emmanuel Camacho Thierry +52 (81) 8625 4308 ecamacho@oma.aero Manuel Higinio de Leon Diaz +52 (81) 8625 4334 mdeleon@oma.aero In the United States: Daniel Wilson / Zemi Communications +1 (212) 689 9560 dbmwilson@zemi.com Media Relations: Paola Fernandez +52 (81) 8625 4300 pfernandez@oma.aero

Source:Grupo Aeroportuario del Centro Norte S.A.B. de C.V.