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]

Core Insights - The peak travel period during the National Day and Mid-Autumn Festival has led to significant increases in passenger and cargo traffic at Xilinhot Airport, with notable year-on-year growth in various metrics [1][2]. Group 1: Transportation Data - From October 1 to October 8, Xilinhot Airport recorded 416 flight takeoffs and landings, transporting 32,283 passengers, and handling 18 tons of cargo, representing year-on-year increases of 25.3%, 24.2%, and 33.3% respectively [1]. - The highest passenger flow occurred on September 30 and October 6, with October 6 marking a record high of 60 flight takeoffs and landings and 4,915 passengers in a single day [2]. Group 2: Operational Management - To ensure safe and smooth airport operations during the holiday, Xilinhot Airport implemented thorough planning and safety management measures, including staff training, equipment checks, and emergency response protocols [3]. - The airport coordinated with airlines to adjust flight capacities based on passenger flow, aiming to meet the travel demands of the public during the holiday [3]. Group 3: Customer Service - Xilinhot Airport emphasized a "genuine service" philosophy, prioritizing passenger needs and enhancing service quality at check-in, security, and boarding processes [3]. - Additional security channels were opened to improve efficiency and reduce waiting times for passengers, ensuring a better travel experience [3].

Financial Data and Key Metrics Changes - Passenger traffic increased by almost 14% year over year, with total passenger traffic reaching nearly 21 million [4][7] - Revenues grew nearly 19%, with revenue per passenger rising to $21, reflecting strong execution in increasing revenues per passenger [5][16] - Adjusted EBITDA increased by 23% year over year, with a margin improvement of 1.4 percentage points to 38.6% [5][20] - Total revenues excluding IFRIC 12 increased by 18.9%, outpacing passenger traffic growth [16] Business Line Data and Key Metrics Changes - Aeronautical revenues rose by 15.1%, primarily driven by strong performance in Argentina [17] - Commercial revenues increased by 22% year over year, significantly above the traffic growth rate [17] - Cargo revenues surged by 30% year over year, with notable contributions from Argentina, Brazil, and Uruguay [14][15] Market Data and Key Metrics Changes - Argentina saw a 17% overall traffic growth, with international traffic increasing close to 19% [8] - Italy recorded a 9% increase in traffic, reaching a second quarter record [9] - Brazil experienced a 15% year-over-year increase in traffic, with international traffic growing over 41% [10] - Ecuador's traffic remained flat, with a 0.5% decline in total passengers [13] Company Strategy and Development Direction - The company is focused on enhancing non-aeronautical revenues and expanding commercial opportunities [24] - Ongoing construction projects include a shopping mall at Brasilia Airport, expected to open in April 2026 [25] - The company is pursuing both organic and inorganic growth opportunities to enhance its airport portfolio [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued positive traffic momentum, particularly in Argentina [26] - The company highlighted the resilience and quality of its diversified portfolio, which supports revenue growth and EBITDA margin expansion [24] Other Important Information - The company closed the quarter with a total liquidity position of $595 million, up 13% from the previous year [21] - Total debt at quarter end was $1.1 billion, with net debt decreasing to $643 million [22] Q&A Session Summary Question: Details on the rig lever discussion in Argentina - Management confirmed ongoing conversations with technical teams regarding the economic equilibrium and investment requirements, with good progress being made [31][32] Question: Interest in Motiva's former CCR airport sales - Management acknowledged interest in the asset and stated that it is under a typical M&A process, with updates to be provided as progress is made [30]