Financial Data and Key Metrics Changes - In Q3 2025, total passenger traffic increased by 8% year over year, totaling 7.6 million passengers [4] - Aeronautical revenues rose by 11%, with aeronautical revenue per passenger increasing by 3% [6] - Adjusted EBITDA grew by 9% to MXN 2.7 billion, with an EBITDA margin of 74.8% [7][13] - Consolidated net income for the quarter was MXN 1.5 billion, reflecting a 9.1% increase compared to the same quarter last year [13] - Total debt at the end of the quarter was MXN 13.6 billion, with a net debt to adjusted EBITDA ratio of 0.9 times [14] Business Line Data and Key Metrics Changes - Commercial revenues increased by 7%, driven by parking, restaurants, VIP lounges, and retail, with occupancy rates for commercial space at 96% [6][10] - Industrial services revenue surged by 53%, attributed to higher square meters leased and contractual rent increases [11] - Non-aeronautical revenues grew by 7.3%, with significant contributions from parking and retail [9][10] Market Data and Key Metrics Changes - Domestic passenger traffic grew by 7%, primarily due to increased routes from Monterrey Airport [5] - International passenger traffic increased by 11%, with notable growth on routes to San Francisco, Atlanta, and Dallas [5] Company Strategy and Development Direction - The company is focusing on expanding capacity and commercial opportunities at Monterrey Airport, which accounts for half of its traffic [30] - The Master Development Program (MDP) is under negotiation, with expectations for final resolution in December [7][8] Management Comments on Operating Environment and Future Outlook - Management anticipates overall traffic growth for the year to be between 7% to 8%, with expectations for low to mid-single-digit growth in 2026 [19] - Cost pressures from SG&A and utility costs are viewed as temporary, with management exploring alternatives to maintain cost control [24] Other Important Information - Total investments in Q3 amounted to MXN 472 million, including major maintenance and strategic investments [7] - Cash generated from operating activities was MXN 1.9 billion, with cash position at MXN 4.4 billion at the end of the quarter [13][14] Q&A Session Summary Question: Traffic expectations for Q4 and 2026 - Management expects overall traffic growth for the year to be between 7% to 8%, with low to mid-single-digit growth anticipated for next year [19] Question: Decline in commercial revenue per passenger - The decline is attributed to one-time revenues recorded in the previous year, with expectations for gradual increases in the following quarters [22] Question: SG&A and utility cost pressures - Management views these cost pressures as temporary and is analyzing alternatives to maintain cost control [24] Question: Capital allocation for the next MDP - Half of the capital will be allocated to Monterrey for capacity expansion and commercial opportunities [30]

Financial Data and Key Metrics Changes - Total revenues increased by 18.9% year over year, outpacing passenger traffic growth of 13.7% [17] - Revenue per passenger rose by 4.5% to $21 from $20.1 last year [17] - Adjusted EBITDA reached $169 million, up 23% year over year, with a margin expansion of 1.4 percentage points to 38.6% [21][22] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 15.1%, with Argentina seeing over 20% growth [18] - Commercial revenues grew by 22% year over year, driven by higher cargo revenues and strong performance in parking, VIP lounges, and duty-free stores [18][19] - Cargo revenues surged by 30% year over year, led by Argentina, Brazil, and Uruguay [14] Market Data and Key Metrics Changes - Passenger traffic in Argentina grew by 17%, with international traffic up nearly 19% [9] - Italy recorded a 9% increase in traffic, reaching a second-quarter record [10] - Brazil saw a 15% year-over-year increase in traffic, with international traffic growing over 41% [10] Company Strategy and Development Direction - The company is focused on enhancing non-aeronautical revenues and expanding commercial opportunities [26] - Ongoing projects include the construction of a shopping mall at Brasilia Airport and the expansion of duty-free areas in Argentina [26][27] - The company is pursuing growth opportunities in Latin America, Iraq, and Angola, among others [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued positive traffic momentum, particularly in Argentina [29] - The company highlighted the resilience and quality of its diversified portfolio, which supports revenue growth and EBITDA margin expansion [26] Other Important Information - The company closed the quarter with a total liquidity position of $595 million, up 13% from the previous year [23] - Total debt at quarter end was $1.1 billion, with net debt decreasing to $643 million [24] Q&A Session Summary Question: Details on Argentina's rig lever discussion and interest in Motiva's former CCR airport sales - Management confirmed ongoing discussions regarding the rig lever and emphasized engagement with authorities [34][35] - The company is interested in the Motiva asset and is evaluating the opportunity while maintaining confidentiality [33]