The following is a summary of the Corporación América Airports S.A. (CAAP) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Corporación Ameřica Airports (CAAP) reported robust growth in Q4 2023, driven by passenger traffic increase in the low-teens to mid-20s annually, totalling over 81 million across its airports.

• Adjusted EBITDA saw a boost of $166.5 million due to the successful conclusion of the Natal Airport concession agreement.

• Revenue saw high teens growth driven by consistent expansion in revenue per passenger and, excluding Natal concession contribution, adjusted EBITDA increased in the high 20s.

Business Progress:

• CAAP demonstrated growth momentum across all regions, facilitated by robust demand recovery as reflected in a robust balance sheet and healthy maturity profile.

• Flight routes reinstatements and increased frequencies led to total traffic achieving 99% of pre-pandemic levels, with international passengers surpassing Q4 2019 levels by 7%.

• Armenia and Argentina airports have both surpassed pre-pandemic levels, with Armenia registering continuous growth overall seven consecutive quarters.

• Development plans for the Armenia and Italy airports have been projected over the subsequent 4-5 years, following local authority approval.

• The company is monitoring the Argentinian government's proposed Open Skies policy, perceived as auspicious for CAAP's operations.

More details: Corporacion America Airports IR

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