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The third quarter of 2009 was positive for OMA. With the opening of the NH Mexico City Airport Terminal 2 Hotel during the quarter, OMA took a decisive step in the development of additional sources of non-aeronautical revenues. Total revenues were higher than the three previous quarters, in part as a result of initiatives to preserve aeronautical revenues. In addition, OMA continued to implement cost control measures. These actions contributed to offsetting most of the impact of lower traffic volumes on revenues and to an increase in adjusted EBITDA of 2.6% as compared to 3Q08, with an Adjusted EBITDA margin of 54.0%.
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3Q 08 3Q 09 % Var. 9M 08 9M 09 % Var.
Terminal passengers (million) 3.5 3.0 (15.4) 10.9 8.7 (20.1)
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Total revenues (Ps. million) 496 488 (1.6) 1,502 1,414 (5.9)
Income from operations
(Ps. million) 170 162 (5.1) 544 450 (17.3)
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Adjusted EBITDA (Ps. million) 257 263 2.6 812 750 (7.7)
Adjusted EBITDA margin 51.7% 54.0% 54.1% 53.1%
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Income before taxes 165 149 (9.6) 683 431 (37.0)
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Consolidated net income
(Ps. million) 130 108 (17.1) 495 307 (38.0)
Net income of majority
interest (Ps. million) 130 108 (16.8) 495 307 (37.9)
EPS* (Ps.) 0.33 0.27 1.25 0.78
EPADS* (US$) 0.19 0.16 0.74 0.46
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Capital Expenditures
(Ps. million) 163 169 1,880 587
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* Based on weighted average shares outstanding
See: Notes and disclaimers
* Passenger traffic decreased 15.4% to 3.0 million. Domestic
traffic decreased 13.8% and international traffic decreased
25.0%. The suspension of Aviacsa operations since July 6, 2009
was one of the principal factors affecting traffic during the
quarter.
* Six new commercial operations opened in our airports.
* The NH Mexico City Airport Terminal 2 Hotel, in which OMA holds
a 90% interest, opened its doors on August 24, 2009. The initial
contribution of this new business is included in OMA's
consolidated results for 3Q09.
* Total revenues decreased less than passenger traffic. Total
revenues were Ps.488 million, a reduction of 1.6%. Aeronautical
revenues per passenger increased 16.6%, and non-aeronautical
revenues per passenger increased 14.6%. Monterrey, OMA's
principal airport, contributed 47.7% of revenues.
* Total operating costs and general and administrative expenses
decreased 7.1% to Ps. 188 million in 3Q09 from Ps. 202 million
in 3Q08. OMA continues to implement cost control measures in
order to minimize the impact on margins of rising prices and the
decrease in passenger traffic. These measures included
reductions in consumption of energy, water, and materials and
supplies, among others.
* Operating income decreased 5.1% to Ps. 162 million; the
operating margin was 33.1%.
* Adjusted EBITDA increased 2.6% to Ps. 263 million, equivalent to
a 54.0% margin.
* Consolidated net income was Ps. 108 million, a reduction of
17.1% as compared to the prior year period.
* Earnings per share were Ps. 0.27, or US$0.16 per American
Depositary Share (ADS).
* Capital expenditures were Ps. 169 million. Bank financing
provided a portion of the resources used for capital
expenditures.
OMA's full second quarter 2009 earnings report is available on the Investor Relations section of OMA's website, http://ir.oma.aero
OMA (Nasdaq:OMAB) (BMV:OMA) will hold a conference call on October 22, 2009 at 10:00 am EDT, 9:00 am Mexico City time.
The conference call is accessible by calling (877) 941-2068 toll-free from the U.S. or +1 (480) 629- 9712 from outside the U.S. The conference ID is 4173750. A taped replay will be available through October 29, 2009 at (800) 406-7325 toll free or +1 (303) 590-3030, using the same ID.
The conference call will also be available by webcast at http://ir.oma.aero/events.cfm.
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, Mazatlan, and Zihuatanejo, and nine other regional centers and border cities. OMA employs over 950 persons in order to offer passengers and clients, airport and commercial services in facilities that comply with all applicable international safety, security, and ISO 9001:2000 quality standards. OMA's strategic shareholder members are ICA, Mexico's largest engineering, procurement, and construction company, and Aeroports de Paris Management, subsidiary of Aeroports 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). Please visit our website, www.oma.aero.
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 and based on current information. 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.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Grupo Aeroportuario del Centro Norte S.A.B. de C.V.
CONTACT: Grupo Aeroportuario del Centro Norte Jose Luis Guerrero Cortes, CFO +52.81.8625.4300 ext.308 vbravo@oma.aero Zemi Communications Daniel Wilson +1.212.689.9560 dbmwilson@zemi.com
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