Corporacion America Airports(CAAP)
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Corporacion America Airports(CAAP) - 2025 Q3 - Earnings Call Transcript
2025-11-24 16:02
Financial Data and Key Metrics Changes - Total revenues increased by 16.6%, nearly doubling passenger traffic growth of 9.3% [11] - Adjusted EBITDA rose 34% to $194 million, marking a new record for the company [4][15] - Adjusted EBITDA margin expanded by 5.2 percentage points to 41.2% [16] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 15.2%, primarily driven by Argentina, with a 22.1% increase in aeronautical revenues in Argentina [11][12] - Commercial revenues were up 18%, significantly above the 9.3% increase in traffic, supported by higher contributions from cargo and passenger-related services [12][14] Market Data and Key Metrics Changes - Passenger traffic across the airport network increased by over 9%, with Argentina showing a 13% increase in total passenger traffic [3][5][6] - International traffic rose 8%, with Argentina, Italy, and Brazil leading the growth [5][7] - Cargo revenues increased by 20%, driven by a 23% increase in Argentina [9] Company Strategy and Development Direction - The company is advancing its investment plans in Armenia and Italy, with CAPEX program approvals underway [4][20] - Inorganic expansion projects are being evaluated across key target markets, including a recent award agreement for the Baghdad Airport project [20][35] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued positive traffic trends into the fourth quarter, although with a more moderate pace of domestic traffic growth in Argentina [20] - The company remains focused on enhancing passenger experience and expanding commercial offerings [19] Other Important Information - The company ended the quarter with a total liquidity position of $661 million, up 26% from the previous year [17] - Total debt at quarter-end was $1.1 billion, with net debt decreasing to $579 million [17] Q&A Session Summary Question: Update on the rebalance in Argentina and future commercial revenues - Management is making good progress on the rebalance of the concession agreement, but a precise timetable is difficult to provide [24] - Commercial revenues were up 8% versus last year, and the trend is expected to continue [24] Question: Investment opportunities in Armenia and Italy - In Italy, the environmental assessment for the project has been approved, with the next step expected to commence towards the end of the first quarter [28] - Discussions in Armenia are progressing well, but a precise timetable is not available [30] Question: Size of the opportunity at Baghdad Airport - An award agreement has been signed, and management has a constructive view on potential traffic growth in the region [35]
Corporacion America Airports(CAAP) - 2025 Q3 - Earnings Call Transcript
2025-11-24 16:02
Financial Data and Key Metrics Changes - Total revenues excluding IFRIC 12 increased by 16.6%, nearly doubling the passenger traffic growth of 9.3% [11] - Adjusted EBITDA rose 34% to $194 million, marking a new record for the company [4][15] - Adjusted EBITDA margin expanded by 5.2 percentage points to 41.2% [16] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 15.2%, primarily driven by Argentina, with a notable 22.1% increase in aeronautical revenues from Argentina [11][12] - Commercial revenues grew by 18%, significantly outpacing traffic growth, supported by higher contributions from cargo, VIP lounges, and other passenger-related services [12][13] Market Data and Key Metrics Changes - Passenger traffic across the airport network increased by over 9%, with Argentina showing a 13% increase in total passenger traffic [3][5] - Domestic traffic in Argentina grew nearly 11%, while international traffic increased by 16% [6] - Cargo revenues rose by 20% year-over-year, driven by a 23% increase in Argentina [9] Company Strategy and Development Direction - The company is advancing its investment plans, with CapEx program approvals underway in Armenia and Italy [4][20] - Strategic initiatives include enhancing passenger experience and expanding commercial offerings, such as new rental hubs and duty-free stores [19][20] - The company is pursuing inorganic expansion opportunities, including a recent award agreement for Baghdad Airport [20] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued positive traffic trends into the fourth quarter, albeit with a more moderate pace of domestic traffic growth in Argentina [20] - The company remains optimistic about the resilience of its business model and the quality of its assets [21] Other Important Information - The total liquidity position at the end of the quarter was $661 million, up 26% from the previous year [17] - Total debt at quarter-end was $1.1 billion, with net debt decreasing to $579 million [17] Q&A Session Summary Question: Update on the rebalance in Argentina and expectations for commercial revenues - Management is making progress on the rebalance of the concession agreement but cannot provide a precise timetable [24] - Commercial revenues were up 8% versus last year, with a continued positive trend expected [24] Question: Investment opportunities in Armenia and Italy - In Italy, the environmental assessment for the project has been approved, with the next steps expected to commence towards the end of the first quarter [28][29] - Discussions in Armenia are progressing well, but a precise timetable cannot be provided [30] Question: Size of the opportunity at Baghdad Airport - An award agreement has been signed, and management is optimistic about potential traffic growth in the region [35]
Corporacion America Airports(CAAP) - 2025 Q3 - Earnings Call Transcript
2025-11-24 16:00
Financial Data and Key Metrics Changes - Total revenues increased by 16.6%, significantly outpacing passenger traffic growth of 9.3% [12] - Adjusted EBITDA rose 34% to $194 million, marking a new record for the company [5][15] - Adjusted EBITDA margin expanded by 5.2 percentage points to 41.2% [16] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 15.2%, driven primarily by Argentina, with a notable 22.1% increase in aeronautical revenues from Argentina [12][13] - Commercial revenues grew by 18%, supported by strong performance in cargo, VIP lounges, and other passenger-related services [12][13] - Cargo revenues were up 20% year-over-year, with Argentina seeing a 23% increase [10] Market Data and Key Metrics Changes - Passenger traffic across the airport network increased by over 9%, with Argentina showing a 13% increase in total passenger traffic [4][6] - Domestic traffic in Argentina grew nearly 11%, while international traffic increased by 16% [6] - Brazil and Italy also reported strong traffic growth, with Brazil's total traffic up over 8% [8][9] Company Strategy and Development Direction - The company is advancing its investment plans, with CAPEX program approvals underway in Armenia and Italy [5][20] - Strategic initiatives include enhancing passenger experience and expanding commercial offerings, such as new rental hubs and duty-free stores [19][20] - The company is pursuing inorganic expansion opportunities, including a recent award agreement for Baghdad Airport [20] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued positive traffic trends into the fourth quarter, albeit with a more moderate pace of domestic traffic growth in Argentina [20] - The company remains focused on maintaining a competitive cost structure while enhancing cargo capabilities [11] - Overall, management expressed confidence in the resilience of the business model and the quality of assets [21] Other Important Information - The company ended the quarter with a total liquidity position of $661 million, up 26% from the previous year [17] - Total debt at quarter-end was $1.1 billion, with net debt decreasing to $579 million [17] Q&A Session Summary Question: Update on the rebalance in Argentina and commercial revenues outlook - Management confirmed progress in discussions regarding the rebalance of the concession agreement but could not provide a specific timetable [23][24] - Commercial revenues were reported to be up 8% versus last year, with expectations of continued positive trends [24] Question: Investment opportunities in Armenia and Italy - In Italy, the environmental assessment approval has been obtained, with the next steps expected to commence towards the end of the first quarter [27][28] - Discussions regarding investment opportunities in Armenia are ongoing, with no specific timeline provided [28] Question: Size of the opportunity at Baghdad Airport - Management indicated a constructive view on potential traffic growth in the region, with further details to be provided once the concession agreement is finalized [33][34]
Corporacion America Airports S.A. (CAAP) Lags Q3 Earnings Estimates
ZACKS· 2025-11-24 15:46
分组1 - Corporacion America Airports S.A. reported quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.53 per share, and showing an increase from $0.09 per share a year ago, resulting in an earnings surprise of -35.85% [1] - The company posted revenues of $532.1 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 8.26%, compared to year-ago revenues of $461.8 million [2] - The stock has increased approximately 20.3% since the beginning of the year, outperforming the S&P 500's gain of 12.3% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.51 on revenues of $470.23 million, and for the current fiscal year, it is $1.72 on revenues of $1.89 billion [7] - The Zacks Industry Rank for Transportation - Airline is currently in the bottom 32% of over 250 Zacks industries, indicating potential challenges for stock performance [8]
Corporacion America Airports(CAAP) - 2025 Q3 - Earnings Call Presentation
2025-11-24 15:00
THIRD QUARTER 2025 EARNINGS CALL PRESENTATION November 24, 2025 → OPENING REMARKS → KEY HIGHLIGHTS → TRAFFIC & CARGO TRENDS → FINANCIAL TRENDS → CLOSING REMARKS → Q&A → APPENDIX CORPORACION AMERICA AIRPORTS CORPORACIÓN AMÉRICA AIRPORTS 2 Disclaimer and Forward-Looking Statement Statements relating to our future plans, projections, events or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include all statements t ...
Corporacion America Airports(CAAP) - 2025 Q3 - Quarterly Report
2025-11-24 13:36
Luxembourg, November 24, 2025— Corporación América Airports S.A. (NYSE: CAAP), ("CAAP" or the "Company") one of the leading private airport operators in the world, reported today its unaudited, consolidated results for the three and nine-month periods ended September 30, 2025. Financial results are expressed in millions of U.S. dollars and are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board ("IASB"). Commencing 3Q18, th ...
Corporacion America Airports Reports Third Quarter 2025 Results
Businesswire· 2025-11-24 13:31
Core Insights - Corporación América Airports reported strong financial results for Q3 2025, achieving record high Adjusted EBITDA of $194 million, with a margin expansion of 5.2 percentage points year-over-year [4][5][11] - The company experienced a 9.3% increase in passenger traffic, reaching 23.3 million, while revenues grew by 17%, driven by both Aeronautical and Commercial segments [4][5][10] Financial Performance - Consolidated revenues ex-IFRIC12 reached $472.1 million, up 16.6% year-over-year, with Aeronautical revenues increasing by 15.2% and Commercial revenues by 18.0% [5][11] - Operating income rose to $147 million, compared to $100.9 million in Q3 2024, reflecting a 45.6% increase [11] - Adjusted EBITDA margin ex-IFRIC12 expanded to 41.2% from 35.9% in Q3 2024, indicating improved profitability [5][11] Operational Highlights - The company maintained a strong liquidity position with $540 million in cash and cash equivalents, and a net debt to LTM Adjusted EBITDA ratio of 0.9x [5][11] - Passenger traffic increased by 9.3%, while cargo volume decreased by 3.4% to 93.5 thousand tons, and aircraft movements rose by 6.9% to 230.3 thousand [5][11] Strategic Initiatives - The company is advancing several initiatives to enhance passenger experience, including the inauguration of a redesigned Duty Free store in Armenia and expansion projects in Uruguay [7][8] - New business development includes signing an award agreement for the Baghdad Airport project in Iraq, with ongoing government processes in the Angola tender [9][10] Future Outlook - Positive traffic momentum is expected to continue, although domestic growth in Argentina may moderate from earlier strong levels [10] - The company anticipates solid results in Q4 2025, despite not benefiting from the easier comparisons that supported Q3 performance [10]
Corporación América Airports S.A. Reports October 2025 Passenger Traffic
Businesswire· 2025-11-21 21:31
Core Insights - Corporación América Airports S.A. reported a 10.2% year-on-year increase in passenger traffic for October 2025, indicating strong growth in the aviation sector [1] Passenger Traffic Highlights - Domestic passengers reached 3,925 thousand in October 2025, up 9.1% from 3,596 thousand in October 2024 [1] - Year-to-date domestic passenger numbers for 2025 stand at 36,688 thousand, reflecting a 9.3% increase compared to 33,561 thousand in the same period of 2024 [1] Cargo Volume and Aircraft Movements - The report includes statistics on cargo volume and aircraft movements, although specific figures were not detailed in the provided text [1]
Corporación América Airports Announces Third Quarter 2025 Financial Results Call and Webcast
Businesswire· 2025-11-17 19:20
LUXEMBOURG--(BUSINESS WIRE)--Corporación América Airports S.A. (NYSE: CAAP), one of the leading private airport operators in the world, today announced that it will report its Third Quarter 2025 results on Monday, November 24, before market opens. We remind all participants to connect through the telephone in order to ask questions. Earnings Release Monday, November 24, 2025 Time: Before Market Opens Conference Call Monday, November 24, 2025 Time: 10:00 am Eastern Time Executives Mr. MartÃn Eur. ...
Corporación América Airports S.A. Reports September 2025 Passenger Traffic
Businesswire· 2025-10-23 12:31
Core Insights - Corporación América Airports S.A. reported a 9.4% year-on-year increase in passenger traffic for September 2025, indicating strong growth in the aviation sector [1] Passenger Traffic Highlights - Domestic passengers reached 3,743 thousand in September 2025, up 10.9% from 3,376 thousand in September 2024 [1] - Year-to-date domestic passenger numbers for 2025 stand at 32,763 thousand, reflecting a 9.3% increase compared to 29,965 thousand in the same period of 2024 [1] Cargo Volume and Aircraft Movements - International passenger figures for September 2025 were reported at 2,971 thousand, showcasing the company's performance in the international market [1]