Financial Data and Key Metrics Changes - Total revenues for Q4 2024 increased by 19% year-on-year to MXN 7.4 billion, reflecting strong performance across all regions [11][12][22] - Net majority income for the year rose 33% year-on-year to MXN 13.6 billion, supported by resilient operational performance and a foreign exchange gain of MXN 2 billion [22][23] - Consolidated EBITDA increased by 23% year-on-year to over MXN 5 billion, with an adjusted EBITDA margin improving by 200 basis points to 69.7% [18] Business Line Data and Key Metrics Changes - Passenger traffic was flat year-on-year, down 0.3% at 17.7 million passengers for Q4, with full-year traffic at 71 million [5] - Colombia's revenue grew by 30%, while Mexico and Puerto Rico saw low teens growth, with Mexico accounting for 72% of total revenues [12][13] - Commercial revenues per passenger grew in the high single digits year-on-year, reaching MXN 130 in Q4 [15] Market Data and Key Metrics Changes - Colombia experienced mid-teens growth in passenger traffic, with international traffic up 29% and domestic traffic up 7% [6][7] - Puerto Rico's total traffic increased nearly 10%, supported by a strong growth in international traffic [7] - Mexico's performance remained soft, with an 8% decline in passenger traffic, affected by Pratt & Whitney engine restrictions and capacity constraints at Mexico City Airport [8][9] Company Strategy and Development Direction - The company aims to strengthen its airport network through strategic infrastructure investments to enhance passenger experience and expand commercial opportunities [22][23] - Expansion projects include the construction and expansion of Terminal 1 at Cancun Airport, expected to be completed by 2026, and Terminal 4 by 2028 [21] - The company is focused on recovering commercial opportunities lost due to capacity restrictions, particularly in Terminal 2 [29][46] Management's Comments on Operating Environment and Future Outlook - Management expects traffic trends to normalize in Q1 2025 towards sustainable levels, with improvements anticipated by the end of Q3 2025 regarding capacity restrictions [28][33] - The company acknowledges ongoing challenges from Pratt & Whitney engine issues but expects a gradual improvement in operations [27][93] - Management remains optimistic about the resilience of markets like Colombia and Puerto Rico, with expectations for continued growth [50] Other Important Information - Total expenses increased by 13% year-on-year, primarily due to increased concession fees and minimum wages in Mexico [17] - Capital expenditure accelerated to MXN 2.5 billion in Q4, accounting for half of the total MXN 4.4 billion for the year [19][20] Q&A Session Summary Question: Traffic growth expectations and airline network development in Mexico - Management indicated that traffic will continue to be affected by capacity restrictions and Pratt & Whitney issues, but improvements are expected by Q3 2025 [27][28] Question: Capacity increase at Mexico City Airport - Management noted that there are discussions about lifting capacity restrictions at Mexico City Airport, potentially by Q3 2025 [32][33] Question: International traffic flow nuances - Management reported that international traffic from Canada was nearly flat, with no significant changes due to political rhetoric in the U.S. [36][38] Question: Tulum Airport's impact on Cancun - Management confirmed that Tulum's traffic is included in regulatory calculations, but it is not termed as compensation [68][70] Question: Commercial revenue targets post-expansion - Management stated that there are no specific targets for commercial revenues per passenger, as it is a moving target [45][46] Question: Updates on Dominican Republic assets - Management indicated that there are no updates on the Dominican Republic asset, as the legal process continues [82][84]

Financial Data and Key Metrics Changes - Revenues totaled €9.5 billion, a 6.7% year-over-year increase on a like-for-like basis, driven primarily by higher revenues in Toll Roads and Construction [9] - Adjusted EBITDA surged to €1.3 billion, a 38.9% year-over-year increase on a like-for-like basis due mainly to a higher contribution from US Toll Road assets and the Construction business [9] - The construction order book reached an all-time high of €16.8 billion, with almost 50% coming from North America [9] - The net debt position ex-infrastructure projects reached minus €1.8 billion, indicating a strong financial position [5][9] - Total shareholder return in 2024 was 25.7% [9] Business Line Data and Key Metrics Changes Toll Roads - North American assets experienced robust traffic performance and revenue per transaction growth that significantly outpaced inflation [4] - Toll Road revenues increased by 19.6% and EBITDA by 19.5% on a like-for-like basis [15] - Total Toll Road dividends in 2024 were €895 million, €191 million more than the previous year [16] Airports - The new Terminal One at JFK reached 60% physical progress by the end of 2024, remaining on budget and on schedule [31] - Dalaman Airport recorded 5.6 million passengers, a 7.7% increase compared to the previous year, with revenues of €82 million and adjusted EBITDA of €64 million [33] Construction - Construction revenues reached €7.274 billion, a 3.8% increase year-over-year on a like-for-like basis [34] - Adjusted EBITDA was €430 million, a 95.4% increase compared to the previous year [34] - The adjusted EBIT margin improved to 3.9%, surpassing the target of 3.5% [35] Market Data and Key Metrics Changes - Traffic in the Greater Toronto Area grew 4.8%, supported by increased mobility and fewer winter weather events [19] - The Dallas-Fort Worth area was the number one destination for relocations, with a projected population growth of 55% by 2050 [23] Company Strategy and Development Direction - The company aims to focus on growth opportunities in North America, particularly in Toll Roads and airports [11] - Sustainability is at the core of the company's strategy, with specific targets for CO2 emissions reduction and water consumption [14] - The company plans to rotate mature assets when they offer more value to third parties [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in growth prospects, emphasizing the balance between new investments and shareholder distributions [52] - The company is optimistic about the performance of its North American assets and the potential for new managed lanes [11][12] Other Important Information - The company repurchased shares totaling €272 million and returned $831 million to shareholders, including €271 million from the 2023 program [6] - The company has upgraded its shareholder distribution guidance from €1.7 billion to a minimum of €2.2 billion for the period 2024 to 2026 [48] Q&A Session Summary Question: Current status on investments in other infrastructure projects in the US - The company is looking for opportunities in airports and other infrastructure but has no specific projects to announce yet [58][60] Question: Could the announced additional buyback program be extended to next year? - The company is open to extending the buyback program based on investment opportunities [63] Question: Guidance for higher earnings expectations for the 407 in 2025 - The management is optimistic about the new tariffs and promotions but does not provide specific guidance [66][68] Question: Impact of tariffs under the Trump administration - The company believes it is too early to assess the impact, as most purchases are local [70][71] Question: Conservative approach to the balance sheet - The company is focused on maintaining flexibility for potential investment opportunities while managing shareholder distributions [73][76] Question: Plans for treasury stock - The company has not decided on the cancellation of treasury stock, which could be used for various purposes [88]

Financial Data and Key Metrics Changes - In Q4 2024, total passenger traffic increased by 4.6% compared to Q4 2023, with domestic traffic growing by 1.5% and international traffic surging by 26.4% [8][19][21] - For the full year 2024, domestic traffic declined by 3.5%, while international traffic increased by 15% compared to 2023 [9][10] - Adjusted EBITDA for Q4 2024 reached Ps.2.4 billion, with an adjusted EBITDA margin of 73.8% [36] - Consolidated net income for Q4 2024 was Ps.1.2 billion, a decrease of 5.9% compared to Q4 2023 [38] Business Line Data and Key Metrics Changes - Restaurant revenues grew by 22%, VIP lounge revenues increased by 51%, and parking revenues rose significantly, contributing to a record high commercial revenue per passenger of Ps.60 in 2024, a 17% increase from 2023 [11][14] - OMA Cargo business grew by 22% in 2024, driven by organizational changes aimed at improving efficiency and customer service [12] - Hotel services revenue increased by nearly 20% compared to 2023, while industrial service revenue grew by 61% for the full year [13][14] Market Data and Key Metrics Changes - The combination of operational restrictions at Mexico City Airport and limited aircraft availability reshaped traffic dynamics, leading to a shift in airline strategies towards international routes [6][7] - The demand for flights between Monterrey and Mexico City metropolitan area grew by 8.18% in 2024, despite overall domestic traffic decline [9] Company Strategy and Development Direction - The company is focusing on expanding its Monterrey Airport, with ongoing projects aimed at increasing passenger capacity to nearly 16 million annually by early 2026 [16][17] - The strategy includes enhancing international connectivity by launching new routes and strengthening the airport's position as a major hub in Northern Mexico [8][21] Management's Comments on Operating Environment and Future Outlook - Management noted a recovery in domestic capacity deployment by main carriers and expects mid-single-digit growth in passenger traffic for 2025 [43][44] - The company is optimistic about the development of Monterrey's route network and sees potential for further growth in international traffic [44][68] Other Important Information - All 13 OMA airports achieved Level 3 Optimization Certification on the Airport Carbon Accreditation Program, highlighting the company's commitment to sustainable airport management [27] - The concession tax increased by 97% to Ps.265 million due to a rate hike, impacting financial results [34] Q&A Session Summary Question: Traffic outlook for this year and Monterrey's route network development - Management expects mid-single-digit growth in passenger traffic for 2025, with opportunities to further develop Monterrey as a connecting hub [43][44] Question: MDP expectations and CapEx ramp-up - Management is working on an optimized CapEx plan to maximize net present value without putting unnecessary pressure on tariffs [45] Question: Timing for MDP announcement and cost pressures - The MDP plan will be presented by the end of June, with expectations of inflationary cost increases in 2025 [59][60] Question: Interest expense increase and future expectations - The increase in interest expense is related to adjustments in the major maintenance provision, which is sensitive to interest rate variations [72][73] Question: Traffic guidance for Monterrey - Monterrey is expected to drive growth, with traffic projections incorporating some macroeconomic volatility [94] Question: Strategy behind short-term loan - The short-term loan was aimed at strengthening working capital and is expected to be refinanced with long-term debt [112]