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Presentation[indiscernible] also give guidance for traffic and financial results for the current year 2026. More flavor on the numbers and the outlook will now give Julian Jager and Gunther Ofner and I hand over to you, Julian.Julian JägerCOO & Member of the Management Board Thank you, Bernd. Good afternoon, ladies and gentlemen. Yes, we -- 2025 was a record year for Vienna Airport in many aspects in terms of passenger volume in Vienna, Malta and Košice in terms of cargo throughput in Vienna. So overall, we ...

全球航空运力持续增长之际，迪拜机场与榜首差距逐步缩小报告核心发现： 哈兹菲尔德-杰克逊亚特兰大国际机场 (ATL) 以 6,310 万座位数蝉联 2025 年全球最繁忙机场迪拜国际机场 (DXB) 稳居全球第二，并持续保持长期快速增长全球十大最繁忙机场中，北美占四席，亚洲占三席 伦敦, Jan. 16, 2026 (GLOBE NEWSWIRE) -- 全球旅游业领先数据平台 OAG 今日发布了 2025 年度全球最繁忙机场排行榜，榜单以航空公司计划运力为统计依据。 哈兹菲尔德-杰克逊亚特兰大国际机场 (ATL) 蝉联全球最繁忙机场，其国内外航线座位数达 6,310 万个。该机场运力同比增长 1%，目前已基本恢复至疫情前水平。 迪拜国际机场 (DXB) 以 6240 万个座位数位居全球第二，与亚特兰大机场的差距进一步缩小。其运力较 2024 年增长 4%，目前较 2019 年同期水平提升 16%，凸显其作为全球领先国际航空枢纽的持续优势。 东京羽田机场 (HND) 以 5540 万座位稳居第三，运力保持稳定，略高于疫情前水平。 在榜单后续排名中，芝加哥奥黑尔国际机场 (ORD) 与伊斯坦布尔机场 (IST) ...

Core Viewpoint - Guangdong's airport system has achieved significant growth, with passenger throughput surpassing 1 billion for the first time in 2025, indicating a robust recovery and increasing demand for air travel in the region [1][2]. Group 1: Airport Performance - In 2025, Guangdong Airport Group managed to handle a total passenger throughput of 1.0065 billion, with the province's airports collectively exceeding 1.8 billion passengers, ranking first in the country [1]. - Baiyun International Airport is on track to become one of the world's top ten busiest airports by 2024, with a passenger throughput of over 80 million by December 2025 [1]. - The number of flights at Baiyun Airport reached 550,000 in 2025, averaging 1,508 flights per day, marking a year-on-year increase of 7.53% [2]. Group 2: Growth of Specific Airports - Jieyang Chaoshan International Airport has joined the "ten million club" with a passenger throughput exceeding 10 million, supported by its strategic location and operational capacity [2]. - Huizhou Airport has shown remarkable growth, with passenger throughput increasing from 1.98 million in 2020 to an expected 3.36 million in 2025 [2]. - Shenzhen Airport also reported a record international and regional passenger volume of 6.15 million, a 23% year-on-year increase, with expectations to surpass 6.3 million for the year [4]. Group 3: Economic Implications - The growth in passenger and cargo traffic reflects Guangdong's economic vitality and contributes to the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area [4]. - The opening of new cargo facilities at Baiyun Airport and the launch of dedicated cargo routes at Huizhou Airport are expected to enhance logistics efficiency for high-value industries [4].

Core Viewpoint - The article discusses the significant transformation occurring in the Greater Bay Area's airport infrastructure, highlighting the expansion and modernization of major airports to enhance their global competitiveness and support regional economic growth [5][21]. Infrastructure Developments - Hong Kong International Airport has fully operationalized its third runway system and is progressively opening its expanded second passenger terminal, with the departure hall expected to be operational by 2026 [2][12]. - Guangzhou Baiyun International Airport's T3 terminal and fifth runway have commenced operations, making it the first airport in China with five commercial runways [2][3]. - Shenzhen Bao'an International Airport has officially launched its third runway, enhancing operational efficiency and capacity to accommodate large aircraft [10]. Capacity and Demand Response - The expansion of the Greater Bay Area airport cluster is a direct response to the increasing demand for air travel, with projections indicating that the total passenger throughput for the seven airports in the region will exceed 200 million by 2024 [14][15]. - The airports in Guangzhou, Shenzhen, and Hong Kong have all reported over 8% growth in passenger throughput in the first three quarters of the year [15]. Economic Impact - The airport expansions are expected to significantly boost the regional economy, with the Greater Bay Area's economic output projected to surpass 14.79 trillion yuan in 2024, contributing to nearly one-fifth of the national foreign trade [15]. - The enhanced airport infrastructure will facilitate a shift from broad coverage to high-density, high-quality air route networks, supporting the region's logistics and trade needs [15][19]. Strategic Importance - The development of the airport cluster is crucial for strengthening the competitive advantage of the Greater Bay Area's real economy, particularly in high-value industries such as electronics, biomedicine, and cross-border e-commerce [17][18]. - Upgraded airport facilities will improve cargo transport capabilities, essential for maintaining supply chain resilience and supporting the region's manufacturing and global trade ambitions [19]. Connectivity and Integration - The article emphasizes the importance of creating a seamless transportation network, with plans for integrated air-rail transport systems to enhance connectivity among the airports in the Greater Bay Area [26]. - The collaborative development of the airport cluster aims to transition from competition to cooperation, ensuring that each airport can leverage its unique strengths to form a complementary network [27][29]. Future Outlook - The ongoing enhancements in both hardware and software aspects of the airport cluster are expected to significantly elevate the Greater Bay Area's global resource allocation capabilities, positioning it as a key node in international supply chains and innovation networks [30].

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 ...

Financial Data and Key Metrics Changes - Total revenues increased in the middle single digits, reaching over MXN 7,000,000,000, driven by growth in Puerto Rico and Colombia [9][10] - EBITDA declined just over 1% year on year to MXN 4,600,000,000, with a decline in Mexico's EBITDA close to 4% [14][15] - The adjusted EBITDA margin declined by 157 basis points to 66.7% [15] Business Line Data and Key Metrics Changes - In Puerto Rico, revenues grew in the high single digits, with a 5% increase in aeronautical revenues and a 10% increase in non-aeronautical revenues [11] - Colombia accounted for 20% of total revenues, delivering revenue growth in the high single digits, reflecting a mid single-digit increase in aeronautical revenues and high teens growth in non-aeronautical revenues [11][12] - Mexico's total revenues posted a slight low single-digit decline, with aeronautical revenues practically flat and non-aeronautical revenues down in the middle single digits [10][11] Market Data and Key Metrics Changes - Passenger traffic in Colombia rose 3% to nearly 5,000,000, supported by an 11% increase in international traffic [7] - In Puerto Rico, total traffic was up 1%, reaching over 3,000,000 passengers, driven by a nearly 12% increase in international passengers [7] - In Mexico, traffic declined 1% to nearly 10,000,000 passengers, reflecting a nearly 2% decrease in domestic traffic and a slight contraction of 0.8% in international traffic [8] Company Strategy and Development Direction - The company entered into a tentative agreement to acquire URW airports for an enterprise value of $295,000,000, marking a significant step in its international expansion strategy [4][5] - The acquisition aims to strengthen the company's position in the high-growth non-regulated commercial segment in the U.S. [5][6] Management's Comments on Operating Environment and Future Outlook - Management anticipates a more balanced operating environment across its portfolio, expecting traffic in Mexico to gradually stabilize over the next year [8] - Positive momentum is expected to continue in Puerto Rico and Colombia, supported by healthy international demand and improving credit yields [8] Other Important Information - Total expenses increased nearly 17% year on year, with significant increases in Colombia due to an adjustment in amortization method [13] - The company closed the quarter with a solid cash position of MXN 16,000,000,000, down 19% from the previous year, primarily due to dividend payments [16][17] Q&A Session Summary Question: Can you shed light on the URW acquisition's economics and expected EBITDA contribution? - Management could not share specific numbers until all approvals are in place [20][21] Question: Can you elaborate on the adjustment to the concession amortization method in Colombia? - The adjustment aligns monetization with revenue generation and is expected to be a new level going forward [21][22] Question: What synergies or strategic rationale does the company see behind the URW acquisition? - The acquisition is crucial for establishing a presence in the U.S. market, which represents 22% of the global aviation market [27][28] Question: Is the company looking at all Motiva airports for sale or just a subset? - Management could not comment on this matter [30][32] Question: What are the traffic trends in Mexico, particularly regarding Tulum Airport? - Traffic is currently weak, with a decrease of 3.1% for the region, but improvements are expected in the next year [32][33] Question: Is the new mutual level in Gangloo expected to open around Q3 2026? - The expected opening is during the third quarter of 2026 [34][35] Question: Is there a shift in capacity allocation from Cancun? - No shift in capacity is observed; the demand is weak due to various factors [37][38] Question: Could the decrease in traffic accelerate the pace of driving tariffs towards maximum tariffs? - Management does not foresee a change in maximum tariff compliance, which should remain similar to the previous year [39][40]

Financial Data and Key Metrics Changes - Total passenger traffic across GAP's 14 airports increased by 2.5% compared to the same period of 2024, reaching 15.8 million passengers in the quarter [6] - Total revenues increased by 17.4% versus Q3 2024, driven by strong performance in both aeronautical and non-aeronautical businesses [7] - EBITDA grew by 12.8%, reaching ARS 5.1 billion, with an EBITDA margin of 64.3% excluding IFRIC 12 [11] - Cash and cash equivalents stood at ARS 11.7 billion as of September 30, 2025 [12] Business Line Data and Key Metrics Changes - Aeronautical revenue grew by 18.3%, reflecting the new maximum tariff adjustments [8] - Revenue from business operated directly by GAP rose by 30.1%, mainly due to the consolidation of cargo and warehouse operations [8] - Revenues from third-party operators increased by 4.7%, supported by new commercial spaces and renegotiated contracts [9] Market Data and Key Metrics Changes - Passenger traffic decline was attributed to immigration-related challenges and a more restrictive perception under the current U.S. Administration [6] - Domestic demand showed sustained recovery, helping to offset declines in international travel [7] Company Strategy and Development Direction - The company remains focused on connectivity and diversifying its network, with plans to launch eight new international routes to Canada [7] - Strategic expansion opportunities include ongoing processes related to TORX and CAICO's tender, as well as potential acquisition of Motiva Airports [14] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding macroeconomic uncertainty and exchange rate volatility, while highlighting the benefits from a diversified portfolio of airports [13] - The company anticipates continued growth in both aeronautical and non-aeronautical revenues, maintaining its leadership position in the region [13] Other Important Information - The company paid a second and final dividend installment of ARS 8.42 per outstanding share during the quarter [12] - Significant investments of approximately ARS 10 billion were made in major infrastructure projects under the master development program [12] Q&A Session Summary Question: Can you talk about the traffic dynamics currently experienced? - Management noted a deceleration in VFR markets but expressed optimism about recovery in the coming years due to fixed capacity announcements by airlines [19][21] Question: How far off are we from seeing top-line revenue growth stabilize? - Management indicated that double-digit growth is expected to continue in directly operated businesses, with new commercial areas contributing to revenue growth [23][24] Question: Can you provide details on the expected cost levels for the coming quarters? - Management confirmed that the current cost levels are expected to persist due to increased facilities and headcount [29] Question: What is the expected effect of the next year's World Cup on traffic figures? - Management anticipates a positive impact on traffic, particularly in Guadalajara, but noted that the exact effects depend on the lottery of national teams [62] Question: Can you elaborate on the tariff increases expected for 2026? - Management confirmed that multiple tariff increases are planned for 2026, with expectations of reaching 93% to 97% fulfillment of the maximum tariff by the end of the year [40][42]

Core Insights - Vienna Airport has surpassed pre-crisis passenger numbers from 2019, achieving over 31.7 million passengers in 2024, with expectations for further growth in 2025 [3]. Company Overview - Vienna Airport is primarily focused on its operations in Vienna, distinguishing itself from globally operating airline groups like Fraport [4]. Industry Context - The aviation industry faced significant challenges during COVID-19, with passenger numbers dropping by 70% to 80%. However, many European airports have recovered, with some still operating at 15% below pre-COVID levels [3].

Group 1 - The Ganzhou Ruijin Airport is set to commence its first flight on September 28, marking a significant transportation project supported by the State Council to revitalize the former Central Soviet Area [1][2] - The first flight will connect Beijing and Ruijin, with additional flights from Shanghai, enhancing air travel options for local residents and contributing to the economic development of the region [1][2] - The airport was designed to accommodate a passenger throughput of 550,000 and a cargo throughput of 2,000 tons by 2030, and it is classified as a 4C-level civil airport [2] Group 2 - The airport will gradually open routes to major cities such as Beijing, Shanghai, and Guangzhou, as well as key tourist destinations like Zunyi and Yan'an, benefiting a population of 6.8 million in the surrounding areas [2]