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Earnings Call Summary | Central North Airport(OMAB.US) Q4 2023 Earnings Conference

Futu News ·  Feb 24 05:53  · Conference Call

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

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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