Grupo Aeroportuario del Centro Norte(OMAB) - 2022 Q4 - Annual Report

Passenger Traffic - Passenger traffic increased by 29.9% in 1Q23, reaching 5.98 million passengers compared to 4.60 million in 1Q22[5] - Domestic passenger traffic increased by 28.0%, while international traffic rose by 42.5%[9] - Total passenger traffic increased by 29.9% year-over-year, reaching 5,978,651 in 1Q23 compared to 4,604,089 in 1Q22[42] - Domestic passenger traffic rose by 28.0%, totaling 5,138,964 in 1Q23, up from 4,014,730 in 1Q22[42] - International passenger traffic surged by 42.5%, with 839,687 passengers in 1Q23 compared to 589,359 in 1Q22[43] Financial Performance - Total revenues rose by 45.9% to Ps.3,220 million in 1Q23, up from Ps.2,206 million in 1Q22[21] - Consolidated net income for 1Q23 was Ps.1,080 million, representing a 43.5% increase compared to 1Q22[27] - Operating income reached Ps.1,752 million with an operating margin of 54.4%[26] - Adjusted EBITDA rose by 40.6% to Ps.1,981 million, with an adjusted EBITDA margin of 77.5%[6] - EBITDA for 1Q23 was 1,904,776 thousand Pesos, a 43.5% increase from 1,327,091 thousand Pesos in 1Q22[47] - Income Before Taxes increased by 47.7% from 1,031,709 to 1,523,910 thousand Pesos[49] - Comprehensive Income for the period reached 1,079,031 thousand Pesos, compared to 748,142 thousand Pesos in the previous year[51] Revenue Breakdown - Aeronautical revenues increased by 40.0% to Ps.1,950 million, driven by higher passenger traffic and increased aeronautical tariffs[15] - Non-aeronautical revenues grew by 25.7% to Ps.605 million, with significant increases in parking (58.1%) and restaurant revenues (48.9%)[17] - Aeronautical revenues grew by 40.0% to 1,950,490 thousand Pesos in 1Q23, up from 1,392,799 thousand Pesos in 1Q22[46] - Non-aeronautical revenues increased by 25.7%, reaching 604,716 thousand Pesos in 1Q23 compared to 481,211 thousand Pesos in 1Q22[46] Operating Costs - Total operating costs and expenses increased by 45.3%, primarily due to higher payroll costs and contracted services[24] - Total operating costs and expenses increased by 45.3% to Ps.1,467 million in 1Q23[25] Cash Flow and Investments - Cash flows from operating activities generated Ps.1,276 million, a 77.9% increase from 1Q22[39] - Capital investments and major maintenance works totaled Ps.757 million during the quarter[6] - Capital investments and major maintenance works totaled Ps.757 million in 1Q23[32] Debt and Dividends - The company approved a cash dividend of Ps.2.3 billion to be paid in two installments[40] - Issued Ps.3.2 billion in long-term sustainability-linked notes to refinance existing debt and fund general corporate uses[41] - Net debt as of March 31, 2023, was Ps.8,043 million, with a net debt to last twelve months adjusted EBITDA ratio of 1.06[35] - Interest expense increased to Ps.301 million in 1Q23, up 59.4% from 1Q22 due to higher indebtedness[29] - Debt Issuance decreased by 20.0% from 4,000,000 to 3,200,000 thousand Pesos[49] - Dividends Paid reduced significantly by 66.8% from 4,325,840 to 1,435,346 thousand Pesos[51] Company Operations - OMA operates 13 international airports across nine states in central and northern Mexico, serving major metropolitan and tourist destinations[62] - The company employs over 1,100 personnel to provide airport and commercial services, ensuring compliance with international safety and security measures[62] - OMA operates hotels within airport terminals, including the NH Collection Hotel at Mexico City airport and the Hilton Garden Inn at Monterrey airport[62] - The company provides various commercial services in its airport facilities, enhancing passenger experience[62] - OMA's airports serve key locations including Monterrey, Acapulco, Mazatlán, and Zihuatanejo, among others[62] Forward-Looking Statements - The management emphasizes that forward-looking statements are subject to various risks and uncertainties that could lead to actual results differing materially from projections[61] - The company has a commitment to updating its forward-looking statements based on new information or future events, although it undertakes no obligation to do so publicly[61] - OMA's management believes that the expectations reflected in forward-looking statements are reasonable, despite inherent risks[61] Asset and Liability Overview - Total assets as of March 31, 2023, were 23,350,680 thousand Pesos, a 14.3% increase from 20,428,823 thousand Pesos a year earlier[44] - Total liabilities increased by 18.7% to 15,151,711 thousand Pesos as of March 31, 2023, compared to 12,763,830 thousand Pesos in the previous year[44]