The following is a summary of the Grupo Aeroportuario Del Centro Norte, S.A.B. De C.V. (OMAB) Q4 2023 Earnings Call Transcript:
Financial Performance:
Record-breaking results in passenger traffic, revenues, adjusted EBITDA (78.4%) and consolidated net income in 2023 for OMA.
Aeronautical and non-aeronautical revenues saw increases of 27% and 18% respectively compared to 2022.
The year ended with a consolidated net income of MXN5 billion which is a 28% increase from 2022.
In Q4 2023, adjusted EBITDA rose by 16% to MXN2.3 billion and aeronautical revenues grew by 13% to MXN2.2 billion.
Construction revenues declined 27% due to reduced investments during the quarter.
Business Progress:
OMA showcased significant growth across restaurants, car parking, VIP lounges, and retail.
Future plans include the construction of two new warehouses, expansion and remodeling of several airport buildings and terminals.
OMA achieved level 2 airport carbon accreditation in all its 13 airports indicating a commitment to sustainability.
Steady passenger traffic predicted for 2024 due to Pratt & Whitney recalls.
Despite increased concession tax, the company managed a healthy net debt to adjusted EBITDA ratio of 0.9 times.
More details: Central North Airport IR
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