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OMA Announces First Quarter 2013 Earnings

MONTERREY, Mexico, April 26, 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 first quarter of 2013 today.

Summary

OMA recorded solid results in the first quarter of 2013, with 10.7% growth of the sum of aeronautical and non-aeronautical revenues, 12.1% growth in Adjusted EBITDA, and 14.3% growth in operating income. Consolidated net income increased 22.9% to Ps. 226 million.

(Million passengers and million pesos) 1Q12 1Q13 % Var
Terminal passengers 2.9 3.0 4.6
Aeronautical revenues 481 517 7.5
Non-aeronautical revenues 152 184 20.9
Aeronautical revenues + Non-Aeronautical revenues 633 701 10.7
Construction revenues 71 87 21.9
Total revenues 705 788 11.8
Adjusted EBITDA 350 393 12.1
Adjusted EBITDA margin (Adjusted EBITDA/Aeronautical revenues + Non-aeronautical revenues, %) 55.3% 56.0%
Income from operations (Ps. million) 264 302 14.3
Consolidated net income (Ps. million) 184 226 22.9
Net income of majority interest (Ps. million) 184 226 22.5
EPS* (Ps.) 0.46 0.57
EPADS* (US$) 0.30 0.37
Capital Expenditures (Ps. million) 165 169 2.4
*Based on weighted average shares outstanding

The principal developments of the first quarter included:

  • Terminal passenger traffic increased 4.6% to 3.0 million in 1Q13; domestic traffic increased 5.1%, and international traffic increased 2.6%. Seven of the 15 airlines at our airports grew traffic in the quarter.
  • Three new domestic and one new international routes opened in the quarter.
  • Aeronautical revenues increased 7.5%, principally as a result of the growth in passenger traffic.
  • Non-aeronautical revenues increased 20.9%.
  • The sum of aeronautical and non-aeronautical revenues per passenger increased 5.8% to Ps. 231.4.
  • Aeronautical revenues per passenger increased 2.7% to Ps. 170.7.
  • Non-aeronautical revenues per passenger increased 15.5% to Ps. 60.7; this marks the 20th consecutive quarter of growth in non-aeronautical revenues.
  • Adjusted EBITDA increased 12.1% to Ps. 393 million in 1Q13. The Adjusted EBITDA margin reached 56.0%, an increase of 70 basis points, reflecting OMA's efforts to increase cash flow generation.
  • Consolidated net income rose 22.9% to Ps. 226 million. Earnings per share were Ps. 0.57, or US$ 0.37 per American Depositary Share (ADS).
  • Capital expenditures were Ps. 169 million.

2013 Outlook

OMA expects that 2013 passenger traffic will increase approximately 3.5% to 4.5%, and expects that the sum of aeronautical and non-aeronautical revenues will increase approximately 8.0% to 10.0%. The Adjusted EBITDA margin for the full year is expected to be in the range 50.5% to 52.0%. Total MDP capex during 2013 is expected to be in the range of Ps. 700 million to Ps. 800 million. Investments for diversification activities are expected to be in the range of Ps. 100 million to Ps. 200 million.

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 may be found at http://ir.oma.aero

OMA (Nasdaq:OMAB) (BMV:OMA) will hold its 1Q13 earnings conference call on April 29, 2013 at 11:00 am Eastern time, 10:00 am Mexico City time.

The conference call is accessible by calling 877-941-1428 toll-free from the U.S. or 1-480-629-9665 from outside the U.S. The conference ID is 4615867. A taped replay will be available through May 6, 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 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 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.