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OMA Announces Fourth Quarter 2012 Earnings

MONTERREY, Mexico, Feb. 19, 2013 (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 results for the fourth quarter of 2012 today.

Summary

OMA recorded solid results in the fourth quarter of 2012, with significant growth from the three lines of business: aeronautical operations, commercial activities, and diversification projects. Aeronautical and non-aeronautical revenues rose a combined 7.4%, Adjusted EBITDA increased 11.8%, and operating income increased 13.9%. Consolidated net income increased 10.9% to Ps. 257 million.

For the full year 2012, aeronautical and non-aeronautical revenues rose a combined 14.7%, with passenger traffic growth of 7.0%. Aeronautical revenue per passenger grew 6.5% and non-aeronautical revenue per passenger rose 9.5%. Aeronautical revenue increased 13.9%, and non-aeronautical revenue increased 17.0%. Adjusted EBITDA increased 20.9%, and consolidated net income increased 33.0%. The return on equity was 12.8%.

(Million passengers and million pesos) 4Q11 4Q12 % Var 12M11 12M12 % Var
Terminal passengers 3.0 3.2 6.8 11.8 12.6 7.0
Aeronautical revenues 527 544 3.3 1,870 2,131 13.9
Non-aeronautical revenues 164 198 20.7 589 689 17.0
Aeronautical revenues + Non-Aeronautical revenues 691 742 7.4 2,459 2,820 14.7
Construction revenues 82 130 57.9 331 277 (16.2)
Total revenues 774 873 12.8 2,790 3,097 11.0
Adjusted EBITDA 342 382 11.8 1,250 1,511 20.9
Adjusted EBITDA margin (Adjusted EBITDA/Aeronautical revenues + Non-aeronautical revenues, %) 49.5% 51.5% 50.8% 53.6%
Income from operations (Ps. million) 257 292 13.9 919 1,160 26.2
Consolidated net income (Ps. million) 231 257 10.9 616 819 33.0
Net income of majority interest (Ps. million) 231 256 10.9 616 818 32.8
EPS* (Ps.) 0.58 0.64 1.54 2.05
EPADS* (US$) 0.36 0.40 0.95 1.26
Capital Expenditures (Ps. million) 233 168 (27.9) 741 600 (19.0)
*Based on weighted average shares outstanding.

The principal developments of the fourth quarter included:

  • Terminal passenger traffic increased 6.8% to 3.2 million in 4Q12; domestic traffic increased 7.6%, and international traffic increased 2.2%. Nine of the 15 airlines at our airports grew traffic in the quarter.
  • Four new international routes opened in the quarter.
  • Aeronautical revenues increased 3.3%, principally as a result of the growth in passenger traffic.
  • Non-aeronautical revenues increased 20.7%.
  • The sum of aeronautical and non-aeronautical revenues per passenger increased 0.6% to Ps. 230.9.
  • Aeronautical revenues per passenger decreased 3.3% to Ps. 169.3.
  • Non-aeronautical revenues per passenger increased 13.0% to Ps. 61.6; this marks the 19th consecutive quarter of increase in non-aeronautical revenues.
  • Adjusted EBITDA increased 11.8% to Ps. 382 million in 4Q12. The Adjusted EBITDA margin reached 51.5%, an increase of 200 basis points, reflecting OMA's efforts to increase cash flow generation.
  • Consolidated net income rose 10.9% to Ps. 257 million. Earnings per share were Ps. 0.64, or US$0.40 per American Depositary Share (ADS).
  • Capital expenditures were Ps. 168 million.

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

OMA (Nasdaq:OMAB) (BMV:OMA) will hold a conference call on February 20, 2013 at 11:00 am Eastern time, 10:00 am Mexico City time.

The conference call is accessible by calling 877-941-2068 toll-free from the U.S. or 1-480-629-9712 from outside the U.S. The conference ID is 4592806. A taped replay will be available through February 27, 2013 at 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 third 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 second 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: Jose Luis Guerrero Cortes OMA, CFO +52.81.8625.4300 ext.308 jlguerrero@oma.aero Daniel Wilson Zemi Communications +1.212.689.9560 dbmwilson@zemi.comSource:Grupo Aeroportuario del Centro Norte S.A.B. de C.V.