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Grupo Aeroportuario del Centro Norte EBITDA up 29% in 3Q2012

25-Oct-2012 1:48 PM

Mexico’s Grupo Aeroportuario del Centro Norte (OMA) revenue up 16% - financial highlights for three months ended 30-Sep-2012:

  • Revenue: MXN798.3 million (USD60.7 million), +16.3% year-on-year;
    • Aeronautical: MXN583.3 million (USD44.3 million), +17.4%;
    • Non-aeronautical: MXN175.8 million (USD13.4 million), +17.7%;
  • EBITDA: MXN383.9 million (USD29.2 million), +29.1%;
  • Net profit: MXN218.0 million (USD16.6 million), +56.9%;
  • Passenger numbers: 3.4 million, +9.1%;
    • Domestic: 3.0 million, +9.3%;
    • International: 436,927, +7.8%;
  • Aeronautical revenue per passenger: MXN169.3 (USD12.9), +7.6%;
  • Total assets: MXN9302 million (USD707.1 million), +4.2% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: MXN523.6 million (USD39.8 million), +50.6% when compared to period ended 31-Dec-2011;
  • Total liabilities: MXN3217 million (USD244.6 million), +9.2% when compared to period ended 31-Dec-2011;
  • FY2012 forecast:

OMA: “OMA estimates that passenger traffic growth in 2012 will be between 6.0% and 7.5%, as a result of the recovery of the air transport industry. The sum of aeronautical and non-aeronautical revenues is expected to increase between 11% and 14%. The Adjusted EBITDA margin is expected to be in the range of 52.0% to 54.0%. Capital expenditures under the Master Development Plan will be in the range of MXN600 to 700 million. This amount is expected to be financed by additional bank debt of approximately MXN150 to 300 million in 4Q12. OMA expects that its debt coverage ratio (Net Debt/Adjusted EBITDA) will be in the range of 0.7 to 1.0 for the full year.” Source: Company statement, 24-Oct-2012.