MONTERREY, Mexico, April 26, 2012 (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 2012 today.
OMA recorded solid results in the first quarter of 2012. The 7.6% increase in passenger traffic drove a 20% increase in the sum of aeronautical revenues and non-aeronautical revenues. The Adjusted EBITDA margin increased to 55.3%. Consolidated net income rose 59%, based on the combination of strong operating results and an exchange gain from the appreciation of the peso.
1Q12 Highlights
| (Million passengers and million pesos) | 1Q11 | 1Q12 | % Var |
| Terminal passengers | 2.7 | 2.9 | 7.6 |
| Aeronautical revenues | 394 | 481 | 22.3 |
| Non-aeronautical revenues | 136 | 152 | 11.9 |
| Aeronautical revenues + Non-Aeronautical revenues | 530 | 633 | 19.6 |
| Construction revenues | 102 | 71 | (30.4) |
| Total revenues | 632 | 705 | 11.5 |
| Adjusted EBITDA | 273 | 350 | 28.6 |
| Adjusted EBITDA margin (Adjusted EBITDA/Aeronautical revenues + Non-aeronautical revenues, %) | 51.5% | 55.3% | |
| Income from operations (Ps. million) | 192 | 264 | 37.5 |
| Consolidated net income (Ps. million) | 116 | 184 | 58.7 |
| Net income of majority interest (Ps. million) | 116 | 184 | 59.0 |
| EPS* (Ps.) | 0.29 | 0.46 | |
| EPADS* (US$) | 0.18 | 0.29 | |
| Capital Expenditures (Ps. million) | 194 | 165 | (14.9) |
| *Based on weighted average shares outstanding | |||
- Passenger traffic increased 7.6% to 2.9 million in 1Q12; domestic traffic increased 10.1%, while international traffic decreased 2.5%. Seven of our airline clients had traffic growth in the quarter.
- Aeronautical revenues increased 22.3% principally as the result of the growth in passenger traffic and the increase in passenger charges and aeronautical services tariffs in April and October 2011.
- Non-aeronautical revenues increased 11.9% principally as the result of the development and implementation of commercial and diversification initiatives.
- The NH T2 hotel in the Mexico City International Airport increased revenues 15.1%, principally as a result of higher room rates.
- The sum of aeronautical and non-aeronautical revenues per passenger increased 11.2% to Ps. 218.7.
- Four new domestic routes and two new international routes opened, as a result of route development efforts.
- 26 new stores, car rental, advertising, restaurant, passenger service, and time share locales opened in the 13 airports, as part of the commercial strategy.
- Adjusted EBITDA increased 28.6% to Ps. 350 million in 1Q12. The Adjusted EBITDA margin reached 55.5%, an increase of 400 basis points, reflecting OMA's efforts to sustain cash flow generation.
- Consolidated net income increased 58.7% to Ps. 184 million. Earnings per share were Ps. 0.46, or US$0.26 per American Depositary Share (ADS).
- Capital expenditures were Ps. 165 million in 1Q12.
The full earnings report and financial tables are available at http://ir.oma.aero
OMA (Nasdaq:OMAB) (BMV:OMA) will hold a conference call on April 27, 2012 at 11:00 am Eastern time, 10:00 am Mexico City time.
The conference call is accessible by calling 1-877-941-4774 toll-free from the U.S. or 1-480-629-9760 from outside the U.S. The conference ID is 4533364. A taped replay will be available through May 4, 2012 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:
- Website: http://www.oma.aero
- Twitter: http://twitter.com/OMAeropuertos
- Facebook: http://www.facebook.com/pages/OMA/137924482889484