Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB)
Filed: 16 Feb 23, 8:45pm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2023
GRUPO AEROPORTUARIO DEL CENTRO NORTE, S.A.B. DE C.V.
(CENTRAL NORTH AIRPORT GROUP)
_________________________________________________________________
(Translation of Registrant’s Name Into English)
México
_________________________________________________________________
(Jurisdiction of incorporation or organization)
Torre Latitud, L501, Piso 5
Av. Lázaro Cárdenas 2225
Col. Valle Oriente, San Pedro Garza García
Nuevo León, México
_________________________________________________________________
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
| Form 20-F X Form 40-F |
(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
| Yes No X |
(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .)
OMA Announces Fourth Quarter 2022
Operating and Financial Results
Mexico City, Mexico, February 16, 2023— Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), today reported its unaudited, consolidated financial and operating results for the fourth quarter 2022 (4Q22).
Full year 2022 Summary
| ■ | Passenger traffic reached 23.2 million during 2022, surpassing by 0.2% prepandemic levels of 2019; and increased 28.8%, compared to 2021. |
| ■ | In 2022, Adjusted EBITDA was Ps.7,088 million surpassing Adjusted EBTIDA of 2019 and 2021 by 27.4% and 38.7%, respectively. In 2022, the Adjusted EBITDA margin was of 76.3%. |
| ■ | The capital investments and major maintenance included in the Master Development Plans (MDPs) plus strategic investments in 2022 reached Ps.3,277 million. |
| ■ | During the year, OMA distributed dividends for Ps.6,616 million; the leverage level measured by Net Debt/Adjusted EBITDA was of 1.0x as of December 31, 2022. |
4Q22 Summary
| ■ | Passenger traffic increased 20.7% during 4Q22, as compared to 4Q21, reaching 6.5 million passengers, and increased 8.7% as compared to 4Q19. The airports with the highest traffic growth compared to 4Q21 were Monterrey, Ciudad Juárez, Culiacán, Chihuahua and Mazatlán. |
| ■ | Adjusted EBITDA increased 27.5% to Ps.1,939 million, which compares to Ps.1,521 million in 4Q21, and was 38.2% higher than 4Q19. |
| ■ | Adjusted EBITDA margin reached 75.8%, compared to 74.9% in 4Q21 and 73.2% in 4Q19. |
| ■ | Capital investments and major maintenance works included in the Master Development Plans (MDPs) plus strategic investments were Ps.1,244 million in the quarter. |
| Chief Financial Officer Ruffo Pérez Pliego del Castillo +52 (81) 8625 4300 rperezpliego@oma.aero | Investor Relations: Luis Emmanuel Camacho Thierry +52 (81) 8625 4308 ecamacho@oma.aero |
www.oma.aero
| (Thousand Passengers and Million Pesos) | 4Q19 | 4Q21 | 4Q22 | %Var vs4Q19 | %Var vs 4Q21 | 2019 | 2021 | 2022 | %Var vs 2019 | %Var vs 2021 |
| Passenger Traffic | 5,952 | 5,359 | 6,469 | 8.7 | 20.7 | 23,168 | 18,025 | 23,221 | 0.2 | 28.8 |
| Aeronautical Revenues | 1,442 | 1,552 | 1,956 | 35.6 | 26.0 | 5,753 | 5,278 | 7,056 | 22.6 | 33.7 |
| Non-Aeronautical Revenues | 473 | 479 | 604 | 27.6 | 26.0 | 1,820 | 1,653 | 2,230 | 22.5 | 34.9 |
| Aeronautical + Non-Aeronautical Revenues | 1,915 | 2,031 | 2,559 | 33.6 | 26.0 | 7,572 | 6,931 | 9,285 | 22.6 | 34.0 |
| Construction Revenues | 348 | 648 | 1,106 | 218.1 | 70.6 | 955 | 1,789 | 2,649 | 177.5 | 48.1 |
| Total Revenues | 2,263 | 2,680 | 3,666 | 62.0 | 36.8 | 8,527 | 8,720 | 11,935 | 40.0 | 36.9 |
| Adjusted EBITDA | 1,402 | 1,521 | 1,939 | 38.2 | 27.5 | 5,563 | 5,110 | 7,088 | 27.4 | 38.7 |
| Adjusted EBITDA Margin (%) | 73.2% | 74.9% | 75.8% | 73.5% | 73.7% | 76.3% | ||||
| Income from Operations | 1,165 | 1,275 | 1,749 | 50.2 | 37.1 | 4,855 | 4,110 | 6,064 | 24.9 | 47.5 |
| Operating Margin (%) | 51.5% | 47.6% | 47.7% | 56.9% | 47.1% | 50.8% | ||||
| Consolidated Net Income | 761 | 1,016 | 1,135 | 49.1 | 11.8 | 3,227 | 2,864 | 3,917 | 21.4 | 36.8 |
| Net Income of Controlling Interest | 758 | 1,013 | 1,130 | 49.1 | 11.5 | 3,220 | 2,857 | 3,901 | 21.2 | 36.5 |
| EPS (Ps.) | 1.94 | 2.62 | 2.93 | 51.1 | 11.5 | 8.20 | 7.35 | 10.10 | 23.2 | 37.4 |
| EPADS (US$) | 0.82 | 1.03 | 1.20 | 46.5 | 17.2 | 3.48 | 2.87 | 4.15 | 19.4 | 44.4 |
| MDP and Strategic Investments | 491 | 752 | 1,244 | 153.4 | 65.4 | 1,357 | 2,117 | 3,277 | 141.5 | 54.8 |
OMA will hold its 4Q22 earnings conference call on February 17, 2023 at 08:00 a.m. Eastern time, 07:00 a.m. Mexico City time.
Call +1-877-407-9208 toll-free from the U.S. or +1-201-493-6784 from outside the U.S. The conference ID is 13735525. The conference call will also be available by webcast at http://ir.oma.aero/en/calendario-de-eventos. |
4Q22 Operating Results
Operations, Passengers, and Cargo
The number of seats offered increased 19.1% compared to 4Q21 and increased 5.3%, compared to 4Q19.
During the quarter, 10 new routes, started operations, of which 8 were international and 2 domestic.
| Airline | Opened | |||
| # Routes | Origin | Destination | Type | |
| Domestic Routes | ||||
| Aeroméxico | 2 | Monterrey Monterrey | Guanajuato Querétaro | Regular Regular |
| International Routes | ||||
| Aeroméxico | 2 | Monterrey Monterrey | Los Angeles Detroit | Regular Regular |
| Spirit Airlines | 2 | Monterrey Monterrey | Houston Austin | Regular Regular |
| American Airlines | 1 | Monterrey | New York | Regular |
| Sunwing | 3 | Mazatlán Mazatlán Mazatlán | Winnipeg Montreal Kelowna | Seasonal Seasonal Seasonal |
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Total passenger traffic reached 6.5 million passengers, an increase of 20.7% as compared to 4Q21 and an increase of 8.7% versus 4Q19. During the quarter, of total traffic, 87.5% was domestic and 12.5% was international.
Domestic passenger traffic increased 20.9%, compared to 4Q21, while international traffic increased 19.7%. Compared to 4Q19, domestic passenger traffic and international passenger traffic increased 7.8% and 15.0%, respectively.
The airports with the largest passenger traffic growth in volume terms as compared to 4Q21, were:
| ■ | Monterrey (+26.5%), on its Mexico City, Felipe Angeles (AIFA), Cancún, Toluca, Tijuana and Guadalajara routes. |
| ■ | Ciudad Juárez (+23.0%), on its Cancún, Guadalajara, Mexico City and Monterrey routes. |
| ■ | Culiacán (+17.8%), on its Tijuana, San José del Cabo, Mexicali, Guadalajara, Cancún and Monterrey routes. |
| ■ | Chihuahua (+19.7%), on its Guadalajara, Cancún, Monterrey and Tijuana routes. |
| ■ | Mazatlán (+15.3%), on its Tijuana, Dallas, Mexico City and Phoenix routes. |
The airports with the largest passenger traffic recovery in volume terms as compared to 4Q19, were:
| ■ | Monterrey (+10.6%), on its Cancún, Felipe Angeles (AIFA), Dallas, Guadalajara and Tijuana routes. |
| ■ | Ciudad Juárez (+36.4%), on its Mexico City, Cancún, Guadalajara and Monterrey routes. |
| ■ | Mazatlán (+22.2%), on its Tijuana, Mexico City, Phoenix, Dallas and Chihuahua routes. |
| ■ | Chihuahua (+10.0%), on its Guadalajara and Cancún routes. |
| ■ | Culiacán (+4.6%), on its Tijuana, San José del Cabo, Mexicali and Cancún routes. |
| 4Q19 | 4Q21 | 4Q22 | %Var vs4Q19 | %Var vs 4Q21 | 2019 | 2021 | 2022 | %Var vs 2019 | %Var vs 2021 | |||||||||||||||||||||||||||||||
| Available Seats | 8,050,523 | 7,118,561 | 8,478,381 | 5.3 | 19.1 | 31,189,588 | 24,618,267 | 30,871,950 | (1.0 | ) | 25.4 | |||||||||||||||||||||||||||||
| Passenger Traffic: | ||||||||||||||||||||||||||||||||||||||||
| Domestic | 5,251,473 | 4,685,837 | 5,663,166 | 7.8 | 20.9 | 20,416,764 | 15,723,316 | 20,506,631 | 0.4 | 30.4 | ||||||||||||||||||||||||||||||
| International | 700,029 | 672,946 | 805,355 | 15.0 | 19.7 | 2,751,296 | 2,301,848 | 2,714,115 | (1.4 | ) | 17.9 | |||||||||||||||||||||||||||||
| Total Passenger Traffic | 5,951,502 | 5,358,783 | 6,468,521 | 8.7 | 20.7 | 23,168,060 | 18,025,164 | 23,220,746 | 0.2 | 28.8 | ||||||||||||||||||||||||||||||
| Commercial Aviation (Regular and Charter) | 5,909,850 | 5,316,655 | 6,430,243 | 8.8 | 20.9 | 22,999,049 | 17,867,259 | 23,069,727 | 0.3 | 29.1 | ||||||||||||||||||||||||||||||
| General Aviation | 41,652 | 42,128 | 38,278 | (8.1 | ) | (9.1 | ) | 169,011 | 157,905 | 151,019 | (10.6 | ) | (4.4 | ) | ||||||||||||||||||||||||||
| Cargo Units | 248,675 | 361,324 | 330,856 | 33.0 | (8.4 | ) | 976,203 | 1,230,997 | 1,344,476 | 37.7 | 9.2 | |||||||||||||||||||||||||||||
| Workload Units | 6,200,177 | 5,720,107 | 6,799,377 | 9.7 | 18.9 | 24,144,263 | 19,256,161 | 24,565,222 | 1.7 | 27.6 | ||||||||||||||||||||||||||||||
| Flight Operations (Takeoffs and Landings): | ||||||||||||||||||||||||||||||||||||||||
| Domestic | 73,044 | 65,846 | 67,146 | (8.1 | ) | 2.0 | 294,154 | 237,735 | 258,912 | (12.0 | ) | 8.9 | ||||||||||||||||||||||||||||
| International | 11,735 | 11,381 | 10,729 | (8.6 | ) | (5.7 | ) | 45,926 | 41,622 | 40,190 | (12.5 | ) | (3.4 | ) | ||||||||||||||||||||||||||
| Total Flight Operations | 84,779 | 77,227 | 77,875 | (8.1 | ) | 0.8 | 340,080 | 279,357 | 299,102 | (12.0 | ) | 7.1 |
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Commercial Operations
The commercial space occupancy rate in the passenger terminals was 93.5% as of December 31, 2022.
Freight Logistics Services
| ■ | OMA Carga’s revenues increased by 20.0%, compared to 4Q21 due to an increase in handling of higher commercial value cargo in handling, storage and custody services related to ground and air import cargo. Total tonnage handled was 8,627 metric tons, 14.0% lower than 4Q21. |
Hotel Services
| ■ | The NH Collection Terminal 2 Hotel had a 81.5% occupancy rate, compared to 78.3% in 4Q21, with an 21.5% increase in the average room rate to Ps.2,850 per night. |
| ■ | Hilton Garden Inn had a 75.1% occupancy rate, compared to 60.1% in 4Q21, with a 10.1% increase in the average room rate to Ps.2,224 per night. |
Industrial Services
| ■ | OMA VYNMSA Aero Industrial Park: Revenues reached Ps.19.4 million, an increase of 10.1% versus 4Q21. The increase is explained by a higher number of leased warehouses as compared to 4Q21. Construction of one warehouse with an area of 10,436 m2 started during the quarter. |
Consolidated Financial Results
Revenues
Aeronautical revenues increased 26.0% mainly due to an increase in passenger traffic, compared to 4Q21, as well as the increase in aeronautical tariffs during 1Q22.
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Domestic Passenger Charges | 1,035,733 | 1,336,913 | 29.1 | 3,422,714 | 4,791,166 | 40.0 | ||||||||||||||||||
| International Passenger Charges | 323,764 | 375,387 | 15.9 | 1,169,292 | 1,375,479 | 17.6 | ||||||||||||||||||
| Other Aeronautical Services, Regulated Leases and Access Rights | 192,996 | 243,379 | 26.1 | 685,721 | 888,898 | 29.6 | ||||||||||||||||||
| Aeronautical Revenues | 1,552,492 | 1,955,680 | 26.0 | 5,277,728 | 7,055,543 | 33.7 | ||||||||||||||||||
| Aeronautical Revenues/Passenger (Ps.) | 289.7 | 302.3 | 4.4 | 292.8 | 303.8 | 3.8 |
Non-aeronautical revenues increased 26.0%.
Commercial revenues increased 34.6%. The line items with the largest increases were:
| ■ | Parking, +46.4%, as a result of an increase in passenger traffic, as well as higher penetration in the Chihuahua, Monterrey and Culiacán airports. |
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| ■ | Car Rentals, Restaurants and Retail, +58.3%, +27.8% and +22.5%, respectively, as a result of an increase in revenue share and the start of operations of new initiatives implemented. |
| ■ | VIP Lounges, +48.1%, as a result of the transition to a direct operation of the OMA Premium Lounges and an increase in number of users of these lounges. |
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Commercial Activities: | ||||||||||||||||||||||||
| Parking | 66,458 | 97,275 | 46.4 | 217,728 | 340,095 | 56.2 | ||||||||||||||||||
| Advertising | 21,222 | 17,702 | (16.6 | ) | 70,338 | 73,579 | 4.6 | |||||||||||||||||
| Retail | 28,371 | 34,744 | 22.5 | 86,128 | 124,726 | 44.8 | ||||||||||||||||||
| Duty Free | 3,067 | 3,521 | 14.8 | 10,318 | 15,183 | 47.2 | ||||||||||||||||||
| Restaurants | 38,331 | 48,968 | 27.8 | 120,148 | 176,844 | 47.2 | ||||||||||||||||||
| Car Rentals | 39,915 | 63,193 | 58.3 | 142,651 | 205,019 | 43.7 | ||||||||||||||||||
| Passenger Services | 1,065 | 2,137 | 100.7 | 3,561 | 5,232 | 46.9 | ||||||||||||||||||
| Time Shares & Hotel Promotion | 3,776 | 4,422 | 17.1 | 13,557 | 16,960 | 25.1 | ||||||||||||||||||
| Communications and Networks | 4,531 | 4,649 | 2.6 | 18,137 | 16,350 | (9.9 | ) | |||||||||||||||||
| VIP Lounges | 15,512 | 22,966 | 48.1 | 49,381 | 80,933 | 63.9 | ||||||||||||||||||
| Financial Services | 2,252 | 3,128 | 38.9 | 8,355 | 13,013 | 55.8 | ||||||||||||||||||
| Other Services | 10,046 | 12,913 | 28.5 | 39,275 | 43,970 | 12.0 | ||||||||||||||||||
| Total Revenues from Commercial Activities | 234,547 | 315,619 | 34.6 | 779,577 | 1,111,903 | 42.6 |
Diversification revenues increased 24.1%, mainly due to higher revenues from Hotel Services and OMA Carga.
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Diversification Activities: | ||||||||||||||||||||||||
| Hotel Services | 72,646 | 92,132 | 26.8 | 221,728 | 325,495 | 46.8 | ||||||||||||||||||
| OMA Carga (Freight Logistics Service) | 63,036 | 75,621 | 20.0 | 257,210 | 329,793 | 28.2 | ||||||||||||||||||
| Real Estate Services | 5,996 | 6,980 | 16.4 | 19,721 | 26,364 | 33.7 | ||||||||||||||||||
| Industrial Services | 17,585 | 19,369 | 10.1 | 63,737 | 73,760 | 15.7 | ||||||||||||||||||
| Other Services | 1,437 | 5,302 | 269.0 | 6,889 | 10,858 | 57.6 | ||||||||||||||||||
| Total Revenues from Diversification Activities | 160,700 | 199,405 | 24.1 | 569,285 | 766,270 | 34.6 | ||||||||||||||||||
| Complementary Activities: | ||||||||||||||||||||||||
| Checked Baggage Screening | 43,942 | 54,066 | 23.0 | 150,238 | 198,336 | 32.0 | ||||||||||||||||||
| Other Leases | 28,809 | 25,199 | (12.5 | ) | 122,639 | 118,851 | (3.1 | ) | ||||||||||||||||
| Access Rights | 8,041 | 7,044 | (12.4 | ) | 21,316 | 24,892 | 16.8 | |||||||||||||||||
| Other Services | 2,803 | 2,197 | (21.6 | ) | 10,324 | 9,551 | (7.5 | ) | ||||||||||||||||
| Total Revenues from Complementary Activities | 83,595 | 88,506 | 5.9 | 304,517 | 351,629 | 15.5 | ||||||||||||||||||
| Non-Aeronautical Revenues | 478,842 | 603,530 | 26.0 | 1,653,379 | 2,229,802 | 34.9 | ||||||||||||||||||
| Non-Aeronautical Revenues/Passenger (Ps.) | 89.4 | 93.3 | 4.4 | 91.7 | 96.0 | 4.7 |
Construction revenues represent the value of improvements to concessioned assets. They are equal to construction costs and generate neither a gain nor a loss. Construction revenues and costs are determined based on the advance in the execution of projects in accordance with the airports’ Master Development Programs (MDP), and variations depend on the rate of project execution.
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| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Aeronautical Revenues | 1,552,492 | 1,955,680 | 26.0 | 5,277,728 | 7,055,543 | 33.7 | ||||||||||||||||||
| Non-Aeronautical Revenues | 478,842 | 603,530 | 26.0 | 1,653,379 | 2,229,802 | 34.9 | ||||||||||||||||||
| Aeronautical + Non-Aeronautical Revenues | 2,031,334 | 2,559,210 | 26.0 | 6,931,107 | 9,285,345 | 34.0 | ||||||||||||||||||
| Construction Revenues | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||||||||
| Total Revenues | 2,679,766 | 3,665,558 | 36.8 | 8,720,010 | 11,934,768 | 36.9 | ||||||||||||||||||
| Aeronautical Revenues + Non-Aeronautical Revenues / Passenger (Ps.) | 379.1 | 395.6 | 4.4 | 384.5 | 399.9 | 4.0 |
Costs and Operating Expenses
The sum of cost of airport services and general and administrative expenses (G&A) increased 15.9%, mainly due to higher payroll costs, contracted services, and insurance.
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Payroll | 146,517 | 195,475 | 33.4 | 537,278 | 667,580 | 24.3 | ||||||||||||||||||
| Contracted Services (Security, Cleaning and Professional Services) | 59,011 | 65,536 | 11.1 | 247,266 | 252,249 | 2.0 | ||||||||||||||||||
| Minor Maintenance | 42,605 | 42,965 | 0.8 | 138,773 | 140,792 | 1.5 | ||||||||||||||||||
| Basic Services (Electricity, Water, Telephone) | 22,166 | 20,607 | (7.0 | ) | 80,127 | 84,633 | 5.6 | |||||||||||||||||
| Materials and Supplies | 10,085 | 8,217 | (18.5 | ) | 34,258 | 41,188 | 20.2 | |||||||||||||||||
| Insurance and Bonding | 8,152 | 11,537 | 41.5 | 35,663 | 34,271 | (3.9 | ) | |||||||||||||||||
| Other costs and expenses | 49,095 | 46,886 | (4.5 | ) | 163,187 | 180,232 | 10.4 | |||||||||||||||||
| Cost of Airport Services + G&A | 337,631 | 391,223 | 15.9 | 1,236,552 | 1,400,946 | 13.3 | ||||||||||||||||||
| Cost of Hotel Services | 38,776 | 58,000 | 49.6 | 124,961 | 181,673 | 45.4 | ||||||||||||||||||
| Cost of Industrial Park Services | 1,527 | 2,042 | 33.7 | 7,135 | 8,619 | 20.8 | ||||||||||||||||||
| Subtotal (Cost of Services + G&A) | 377,935 | 451,265 | 19.4 | 1,368,649 | 1,591,238 | 16.3 | ||||||||||||||||||
| Subtotal (Cost of Services + G&A) / Passenger (Ps.) | 70.5 | 69.8 | (1.1 | ) | 75.9 | 68.5 | (9.8 | ) |
The major maintenance provision was Ps.42 million. The outstanding balance of the maintenance provision as of December 31, 2022 was Ps.1,991 million.
The airport concession tax was Ps.118 million and the technical assistance fee was Ps.52 million.
Total operating costs and expenses increased 36.5%.
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Cost of Services | 227,478 | 264,229 | 16.2 | 782,107 | 923,638 | 18.1 | ||||||||||||||||||
| Administrative Expenses (G&A) | 150,457 | 187,036 | 24.3 | 586,542 | 667,600 | 13.8 | ||||||||||||||||||
| Subtotal (Cost of Services + G&A) | 377,935 | 451,265 | 19.4 | 1,368,649 | 1,591,238 | 16.3 | ||||||||||||||||||
| Major Maintenance Provision | 117,863 | 41,786 | (64.5 | ) | 512,653 | 472,077 | (7.9 | ) | ||||||||||||||||
| Construction Cost | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||||||||
| Concession Taxes | 92,318 | 117,718 | 27.5 | 319,906 | 428,717 | 34.0 | ||||||||||||||||||
| Technical Assistance Fee | 40,729 | 51,610 | 26.7 | 133,558 | 177,667 | 33.0 | ||||||||||||||||||
| Depreciation & Amortization | 127,699 | 147,917 | 15.8 | 487,230 | 551,200 | 13.1 | ||||||||||||||||||
| Other (Income) Expense - Net | (606 | ) | (1 | ) | (99.8 | ) | (1,278 | ) | (40 | ) | (96.9 | ) | ||||||||||||
| Total Operating Costs and Expenses | 1,404,370 | 1,916,643 | 36.5 | 4,609,621 | 5,870,282 | 27.3 |
Operating Income and Adjusted EBITDA
Operating Income was Ps.1,749 million, with an operating margin of 47.7%.
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Adjusted EBITDA was Ps.1,939 million, with a margin of 75.8%.
| (Ps. Thousands) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Consolidated Net Income | 1,015,553 | 1,135,022 | 11.8 | 2,863,630 | 3,917,305 | 36.8 | ||||||||||||||||||
| - Financing (Expense) Income | (29,638 | ) | (204,653 | ) | 590.5 | (274,580 | ) | (771,661 | ) | 181.0 | ||||||||||||||
| + Income Taxes | 230,205 | 409,240 | 77.8 | 972,179 | 1,375,520 | 41.5 | ||||||||||||||||||
| Operating Income | 1,275,396 | 1,748,915 | 37.1 | 4,110,389 | 6,064,486 | 47.5 | ||||||||||||||||||
| Operating Margin (%) | 47.6 | % | 47.7 | % | 47.1 | % | 50.8 | % | ||||||||||||||||
| + Depreciation and Amortization | 127,699 | 147,917 | 15.8 | 487,230 | 551,200 | 13.1 | ||||||||||||||||||
| EBITDA | 1,403,095 | 1,896,832 | 35.2 | 4,597,619 | 6,615,686 | 43.9 | ||||||||||||||||||
| EBITDA Margin (%) | 52.4 | % | 51.7 | % | 52.7 | % | 55.4 | % | ||||||||||||||||
| - Construction Revenue | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||||||||
| + Construction Cost | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||||||||
| + Major Maintenance Provision | 117,863 | 41,786 | (64.5 | ) | 512,653 | 472,077 | (7.9 | ) | ||||||||||||||||
| Adjusted EBITDA | 1,520,958 | 1,938,618 | 27.5 | 5,110,272 | 7,087,763 | 38.7 | ||||||||||||||||||
| Adjusted EBITDA Margin: Adjusted EBITDA/(Aeronautical Revenue + Non-Aeronautical Revenue) (%) | 74.9 | % | 75.8 | % | 73.7 | % | 76.3 | % |
Financing Income and Net Income
Financing Expense was Ps.205 million, compared to Ps.30 million during 4Q21. The increase was mainly due to a higher interest expense as a result of a higher level of indebtedness and an increase in financing costs; and an exchange loss compared to an exchange gain in 4Q21.
| (Ps. thousand) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Interest Income | 49,535 | 55,529 | 12.1 | 129,479 | 171,312 | 32.3 | ||||||||||||||||||
| Interest (Expense) | (142,783 | ) | (256,523 | ) | 79.7 | (516,676 | ) | (934,102 | ) | 80.8 | ||||||||||||||
| Exchange Gain (Loss), net | 63,610 | (3,659 | ) | n.a. | 112,617 | (8,871 | ) | n.a. | ||||||||||||||||
| Total Financing Expense | (29,638 | ) | (204,653 | ) | 590.5 | (274,580 | ) | (771,661 | ) | 181.0 |
Consolidated net income in the quarter was Ps.1,135 million, an increase of 11.8%.
Earnings per share, based on net income of the controlling interest was Ps.2.93, and earnings per ADS was US$1.20. Each ADS represents eight Series B shares.
| (Ps. thousand) | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||||||||
| Consolidated Net Income | 1,015,553 | 1,135,022 | 11.8 | 2,863,630 | 3,917,305 | 36.8 | ||||||||||||||||||
| Net income margin % | 37.9 | % | 31.0 | % | 32.8 | % | 32.8 | % | ||||||||||||||||
| Non-controlling interest | 2,556 | 5,110 | 99.9 | 6,365 | 16,338 | 156.7 | ||||||||||||||||||
| Net income of controlling Interet | 1,012,997 | 1,129,912 | 11.5 | 2,857,265 | 3,900,967 | 36.5 | ||||||||||||||||||
| Earnings per Share, Ps. | 2.62 | 2.93 | 11.5 | 7.35 | 10.10 | 37.4 | ||||||||||||||||||
| Earnings per ADS, US$ | 1.03 | 1.20 | 17.2 | 2.87 | 4.15 | 44.4 |
7
MDP and Strategic Investments
In 4Q22, capital investments and major maintenance works in the MDPs and strategic investments totaled Ps.1,224 million, comprised of Ps.1,106 million in improvements to concessioned assets, Ps.64 million in major maintenance, Ps.51 million in strategic investments and Ps.3 million in other concepts.
The most important investment expenditures included:
| Airport | Project | Status | ||
| MDP Investments | ||||
| Chihuahua | Major rehabilitation of taxiway and commercial platform | Started | ||
| Tampico | Minor rehabilitation of platform and mayor rehabilitation of taxiway | Started | ||
| Zihuatanejo | Minor rehabilitation of taxiway | Started | ||
| Durango | Major rehabilitation of taxiway | In Process | ||
| Durango | Remodeling and expansion of terminal building | In Process | ||
| Monterrey | Installation of baggage screening equipment | In Process | ||
| Culiacán | Expansion of terminal building | In Process | ||
| Culiacán | Minor rehabilitation of runway and major rehabilitation of platform | In Process | ||
| San Luis Potosí | Major rehabilitation of taxiway | In Process | ||
| Durango | Major rehabilitation of runway | In Process | ||
| Mazatlán | Terminal building reconfiguration | In Process | ||
| Ciudad Juárez | Rehabilitation of commercial aviation platform | In Process | ||
| Ciudad Juárez | Remodeling and expansion of terminal building | In Process | ||
| Monterrey | Platforms reconfiguration | In Process | ||
| Monterrey | Expansion of Terminal C (Wing 1) | In Process | ||
| Monterrey | Expansion of public area in Terminal A - first phase | In Process | ||
| Zihuatanejo | Modernization of terminal building | In Process | ||
| Zacatecas | Rehabilitation of commercial aviation platform | Finished | ||
| Strategic Investments | ||||
| Monterrey | Industrial park - Construction of industrial warehouse | Started | ||
| Monterrey | Expansion of OMA Carga bonded warehouse - Ground Cargo | In Process | ||
| 4 Airports | Construction of OMA Premium Lounges in Durango, Reynosa, Tampico and Zihuatanejo | In Process | ||
| 5 Airports | Remodeling of OMA Premium Lounges in Monterrey (Terminal A and Terminal C), Culiacán, Acapulco, Mazatlán and San Luis Potosí | In Process | ||
| Hotel | Remodeling of NH Collection Terminal 2 Hotel | In Process | ||
| Monterrey | Design and construction of parking | In Process | ||
| Monterrey | Industrial park - Construction of industrial warehouse | In Process | ||
| Monterrey | Industrial park - Tenant improvements to industrial warehouse | In Process | ||
| Ciudad Juárez | Construction of OMA Premium Lounges | Finished | ||
8
Indebtedness
| (Ps. Thousands) | Scheduled Maturity | Interest Rate | December 31, 2021 | December 31, 2022 | ||||||||
| Short Term Debt | ||||||||||||
| Credit Lines payable at maturity in June 2022; Ps. 2,700 mm | June 2022 | TIIE + 99.6 bp | 2,700,000 | — | ||||||||
| Subsidiaries capitalization and financing of working capital | Bullet | |||||||||||
| Credit Lines payable at maturity in June 2023; Ps. 1,200 mm | June 2023 | TIIE + 86.7 bp | — | 1,200,000 | ||||||||
| Subsidiaries capitalization and financing of working capital | Bullet | |||||||||||
| Total Short-Term Debt | 2,700,000 | 1,200,000 | ||||||||||
| Long-Term Debt | ||||||||||||
| 10-yr Bond, Ps. 1,500 mm: OMA13 | March 2023 | 6.47% | 1,500,000 | 1,500,000 | ||||||||
| Finance CAPEX and Refinance Debt | Bullet | |||||||||||
| 5-yr Bond, Ps. 1,000 mm: OMA21V | April 2026 | TIIE 28 + 75 bp | 1,000,000 | 1,000,000 | ||||||||
| Green investments established on OMA’s Green Bond Framework | Bullet | |||||||||||
| 7-yr Bond, Ps. 2,500 mm: OMA21-2 | April 2028 | 7.83% | 2,500,000 | 2,500,000 | ||||||||
| Refinance Debt | Bullet | |||||||||||
| 5-yr Bond, Ps. 1,700 mm: OMA22L | March 2027 | TIIE 28 + 14 bp | — | 1,700,000 | ||||||||
| Prepayment of Short-Term Loans | Bullet | |||||||||||
| 7-yr Bond, Ps. 2,300 mm: OMA22-2L | March 2029 | 9.35% | — | 2,300,000 | ||||||||
| Finance CAPEX, Prepayment of Short-Term Loans and Corporate Uses | Bullet | |||||||||||
| Subtotal Long-Term Debt | 5,000,000 | 9,000,000 | ||||||||||
| Less: Current Portion of Long-Term Debt | — | (1,500,000 | ) | |||||||||
| Less: Commissions and Financing Expenses | (3,378 | ) | (15,664 | ) | ||||||||
| Total Long-Term Debt | 4,996,622 | 7,484,336 | ||||||||||
| Plus: Financial leases | 224,736 | 208,205 | ||||||||||
| Plus: Current Portion of Long-Term Debt | — | 1,500,000 | ||||||||||
| Plus: Bank Debt | 2,700,000 | 1,200,000 | ||||||||||
| Total Debt + Financial leases | 7,921,358 | 10,392,541 | ||||||||||
| Mexican peso denominated debt | 100.0 | % | 100.0 | % | ||||||||
| U.S. dollar denominated debt | 0.0 | % | 0.0 | % | ||||||||
| Net Debt (Includes financial leases) | 1,934,194 | 7,056,121 | ||||||||||
| Net Debt / Last Twelve Months Adjusted EBITDA (x) | 0.38 | 1.00 | ||||||||||
Derivatives
As of the date of this report, OMA has no financial derivatives exposure.
Cash Flow Statement
During 4Q22, cash flows from operating activities generated cash of Ps.1,564 million.
Investing activities used cash for Ps.1,297 million in the fourth quarter. Financing activities reflect mainly the inflows received from short-term loan agreements, resulting in a net cash inflow of Ps.998 million.
The net increase in cash resulting from operating, investing and financing activities in 4Q22 was Ps.1,266 million. This, combined with the negative effect of changes in the value of cash of Ps.2.0 million, resulted in a Cash and Cash Equivalents balance as of December 31, 2022 of Ps.3,336 million.
9
| From October 1 to December 31, | From January 1 to December 31, | |||||||||||||||||||||||
| (Ps. Thousands) | 2021 | 2022 | %Var | 2021 | 2022 | %Var | ||||||||||||||||||
| Income Before Taxes | 1,245,758 | 1,544,262 | 24.0 | 3,835,809 | 5,292,825 | 38.0 | ||||||||||||||||||
| Items not affecting Operating Activities, net | 302,950 | 398,082 | 31.4 | 1,301,290 | 1,796,284 | 38.0 | ||||||||||||||||||
| Changes in operational assets and liabilities, net | (335,022 | ) | (378,209 | ) | 12.9 | (690,254 | ) | (2,103,773 | ) | 204.8 | ||||||||||||||
| Net Flow from Operating Activities | 1,213,686 | 1,564,135 | 28.9 | 4,446,845 | 4,985,336 | 12.1 | ||||||||||||||||||
| Net Flow from Investing Activities | (557,881 | ) | (1,296,710 | ) | 132.4 | (1,794,892 | ) | (2,754,759 | ) | 53.5 | ||||||||||||||
| Net Flow from Financing Activities | 613,255 | 998,459 | 62.8 | 292,269 | (4,875,774 | ) | n.a. | |||||||||||||||||
| Net Increase (Reduction) in Cash and Cash Equivalents | 1,269,060 | 1,265,883 | (0.3 | ) | 2,944,222 | (2,645,197 | ) | n.a. | ||||||||||||||||
| Effect of Change for Fair Value of Cash and Equivalents | 34,322 | (1,969 | ) | n.a. | 84,138 | (5,547 | ) | n.a. | ||||||||||||||||
| Cash and Equivalents at Beginning of Period | 4,683,782 | 2,072,506 | (55.8 | ) | 2,958,804 | 5,987,164 | 102.4 | |||||||||||||||||
| Cash and Equivalents at End of Period | 5,987,164 | 3,336,420 | (44.3 | ) | 5,987,164 | 3,336,420 | (44.3 | ) | ||||||||||||||||
Relevant Events
OMA announces payment date for Ps. 1,450 million dividend. On February 16, 2023, OMA announced that in accordance with the resolutions adopted by its General Ordinary Shareholders’ Meeting, held on February 13, 2023 with regards to the approval of a cash dividend of up to Ps.1,450 million, the Board of Directors with the power delegated by the Shareholders’ Meeting, has determined the payment of a cash dividend of Ps.1,450 million with payment date on March 2, 2023.
OMA is included in 2023 Bloomberg Gender-Equality Index. On January 31, 2023, OMA was recognized, for the second consecutive year, as one of the 12 Mexican companies to be included in the 2023 Bloomberg Gender-Equality Index. This reference index measures gender equality across five pillars: leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti sexual-harassment policies, and external brand.
Obtaining of short-term loans. On December 26, 2022, OMA announced that it obtained short-term loans for an aggregate amount of Ps.1,200 million with HSBC México, Banco Nacional de México and Banco Santander México. Proceeds were used to capitalize the group’s subsidiaries, for working capital and to strengthen the company’s liquidity.
Closing of Sale of OMA Shares between Fintech Advisory and VINCI Airports. On December 7, 2022, OMA announced, following its press release (evento relevante) dated July 31, 2022, that Fintech Advisory Inc. (“Fintech”) made a public filing pursuant to the Securities Laws in the United States of America, in which it disclosed the closing of the indirect sale by several of its affiliates, of 29.99% of the shares of OMA, to a subsidiary of VINCI Airports SAS.
10
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. | ||||||||||||||||||
| Passenger Traffic | ||||||||||||||||||
| (Terminal Passengers - Excludes Transit Passengers) | ||||||||||||||||||
| Total Passengers | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||
| Acapulco | 190,891 | 220,543 | 15.5 | 670,239 | 838,991 | 25.2 | ||||||||||||
| Ciudad Juárez | 446,491 | 549,370 | 23.0 | 1,499,841 | 2,004,524 | 33.6 | ||||||||||||
| Culiacán | 557,843 | 656,954 | 17.8 | 1,970,211 | 2,426,003 | 23.1 | ||||||||||||
| Chihuahua | 401,931 | 481,275 | 19.7 | 1,363,937 | 1,727,006 | 26.6 | ||||||||||||
| Durango | 127,542 | 121,886 | (4.4 | ) | 446,030 | 485,524 | 8.9 | |||||||||||
| Mazatlán | 338,543 | 390,427 | 15.3 | 1,106,071 | 1,450,944 | 31.2 | ||||||||||||
| Monterrey | 2,499,697 | 3,161,462 | 26.5 | 8,269,834 | 10,943,186 | 32.3 | ||||||||||||
| Reynosa | 121,507 | 132,260 | 8.8 | 425,918 | 518,051 | 21.6 | ||||||||||||
| San Luis Potosí | 159,565 | 168,032 | 5.3 | 528,625 | 633,364 | 19.8 | ||||||||||||
| Tampico | 115,749 | 137,757 | 19.0 | 397,191 | 495,602 | 24.8 | ||||||||||||
| Torreón | 160,415 | 182,017 | 13.5 | 537,161 | 670,245 | 24.8 | ||||||||||||
| Zacatecas | 105,534 | 113,365 | 7.4 | 375,930 | 433,952 | 15.4 | ||||||||||||
| Zihuatanejo | 133,075 | 153,173 | 15.1 | 434,176 | 593,354 | 36.7 | ||||||||||||
| Total | 5,358,783 | 6,468,521 | 20.7 | 18,025,164 | 23,220,746 | 28.8 | ||||||||||||
| Domestic Passengers | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||
| Acapulco | 176,643 | 206,132 | 16.7 | 623,763 | 773,846 | 24.1 | ||||||||||||
| Ciudad Juárez | 442,801 | 547,880 | 23.7 | 1,487,306 | 1,997,985 | 34.3 | ||||||||||||
| Culiacán | 544,645 | 648,446 | 19.1 | 1,920,194 | 2,392,946 | 24.6 | ||||||||||||
| Chihuahua | 366,253 | 447,133 | 22.1 | 1,233,690 | 1,593,272 | 29.1 | ||||||||||||
| Durango | 101,876 | 93,792 | (7.9 | ) | 350,643 | 382,302 | 9.0 | |||||||||||
| Mazatlán | 270,166 | 288,168 | 6.7 | 934,309 | 1,152,660 | 23.4 | ||||||||||||
| Monterrey | 2,137,892 | 2,725,372 | 27.5 | 6,975,309 | 9,545,231 | 36.8 | ||||||||||||
| Reynosa | 118,886 | 131,420 | 10.5 | 417,215 | 511,535 | 22.6 | ||||||||||||
| San Luis Potosí | 109,313 | 110,597 | 1.2 | 361,079 | 418,556 | 15.9 | ||||||||||||
| Tampico | 104,043 | 123,419 | 18.6 | 355,991 | 444,786 | 24.9 | ||||||||||||
| Torreón | 143,662 | 165,326 | 15.1 | 475,512 | 606,909 | 27.6 | ||||||||||||
| Zacatecas | 69,895 | 71,586 | 2.4 | 247,746 | 278,868 | 12.6 | ||||||||||||
| Zihuatanejo | 99,762 | 103,895 | 4.1 | 340,559 | 407,735 | 19.7 | ||||||||||||
| Total | 4,685,837 | 5,663,166 | 20.9 | 15,723,316 | 20,506,631 | 30.4 | ||||||||||||
| International Passengers | 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | ||||||||||||
| Acapulco | 14,248 | 14,411 | 1.1 | 46,476 | 65,145 | 40.2 | ||||||||||||
| Ciudad Juárez | 3,690 | 1,490 | (59.6 | ) | 12,535 | 6,539 | (47.8 | ) | ||||||||||
| Culiacán | 13,198 | 8,508 | (35.5 | ) | 50,017 | 33,057 | (33.9 | ) | ||||||||||
| Chihuahua | 35,678 | 34,142 | (4.3 | ) | 130,247 | 133,734 | 2.7 | |||||||||||
| Durango | 25,666 | 28,094 | 9.5 | 95,387 | 103,222 | 8.2 | ||||||||||||
| Mazatlán | 68,377 | 102,259 | 49.6 | 171,762 | 298,284 | 73.7 | ||||||||||||
| Monterrey | 361,805 | 436,090 | 20.5 | 1,294,525 | 1,397,955 | 8.0 | ||||||||||||
| Reynosa | 2,621 | 840 | (68.0 | ) | 8,703 | 6,516 | (25.1 | ) | ||||||||||
| San Luis Potosí | 50,252 | 57,435 | 14.3 | 167,546 | 214,808 | 28.2 | ||||||||||||
| Tampico | 11,706 | 14,338 | 22.5 | 41,200 | 50,816 | 23.3 | ||||||||||||
| Torreón | 16,753 | 16,691 | (0.4 | ) | 61,649 | 63,336 | 2.7 | |||||||||||
| Zacatecas | 35,639 | 41,779 | 17.2 | 128,184 | 155,084 | 21.0 | ||||||||||||
| Zihuatanejo | 33,313 | 49,278 | 47.9 | 93,617 | 185,619 | 98.3 | ||||||||||||
| Total | 672,946 | 805,355 | 19.7 | 2,301,848 | 2,714,115 | 17.9 | ||||||||||||
11
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| Unaudited Consolidated Balance Sheet |
| (Thousands of Pesos) |
| December 31, | December 31, | % Var | |||||||
| 2021 | 2022 | Dec22/Dec21 | |||||||
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | 5,987,164 | 3,336,420 | (44.3 | ) | |||||
| Trade Accounts Receivable - Net | 1,085,670 | 1,266,110 | 16.6 | ||||||
| Trade Accounts Receivable from Related Parties | 223,498 | 9,602 | (95.7 | ) | |||||
| Recoverable Taxes | 275,600 | 259,118 | (6.0 | ) | |||||
| Advances to Contractors | 162,165 | 672,588 | 314.8 | ||||||
| Other Current Assets | 42,333 | 49,639 | 17.3 | ||||||
| Total Current Assets | 7,776,430 | 5,593,477 | (28.1 | ) | |||||
| Land, Buildings, Machinery and Equipment - Net | 2,724,296 | 2,566,095 | (5.8 | ) | |||||
| Investments in Airport Concessions - Net | 11,680,684 | 13,940,366 | 19.3 | ||||||
| Rights of use of leased assets, net | 197,131 | 165,004 | (16.3 | ) | |||||
| Other Assets - Net | 46,196 | 48,127 | 4.2 | ||||||
| Deferred Taxes | 464,404 | 756,909 | 63.0 | ||||||
| Total Assets | 22,889,141 | 23,069,978 | 0.8 | ||||||
| Liabilities and Stockholder’s Equity | |||||||||
| Current Liabilities | |||||||||
| Bank Debt | 2,700,000 | 1,200,000 | n.a. | ||||||
| Current Portion of Long-Term Debt | — | 1,500,000 | n.a. | ||||||
| Current Portion of Major Maintenance Provision | 692,788 | 949,197 | 37.0 | ||||||
| Current Portion of Financial Leases | 29,332 | 33,446 | 14.0 | ||||||
| Trade Accounts Payable | 213,207 | 332,287 | 55.9 | ||||||
| Taxes and Accrued Expenses | 997,854 | 957,609 | (4.0 | ) | |||||
| Accounts Payable to Related Parties | 269,249 | 286,479 | 6.4 | ||||||
| Total Current Liabilities | 4,902,430 | 5,259,018 | 7.3 | ||||||
| Long-Term Debt | 4,996,622 | 7,484,336 | 49.8 | ||||||
| Guarantee Deposits | 342,120 | 377,576 | 10.4 | ||||||
| Employee Benefits | 129,199 | 121,477 | (6.0 | ) | |||||
| Major Maintenance Provision | 1,048,945 | 1,041,521 | (0.7 | ) | |||||
| Financial Leases | 195,404 | 174,759 | (10.6 | ) | |||||
| Deferred Taxes | 36,189 | 56,671 | 56.6 | ||||||
| Total liabilities | 11,650,909 | 14,515,358 | 24.6 | ||||||
| Common Stock | 297,782 | 297,782 | — | ||||||
| Additional paid-in capital | 29,786 | 29,786 | — | ||||||
| Retained Earnings | 9,702,141 | 6,528,698 | (32.7 | ) | |||||
| Share Repurchase Reserve | 1,028,188 | 1,500,000 | 45.9 | ||||||
| Labor Obligations | (1,936 | ) | 12,945 | n.a. | |||||
| Non-Controlling Interest | 182,271 | 185,409 | 1.7 | ||||||
| Stockholders’ Equity | 11,238,232 | 8,554,620 | (23.9 | ) | |||||
| Total Liabilities and Stockholder’s Equity | 22,889,141 | 23,069,978 | 0.8 | ||||||
12
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| Unaudited Consolidated Statement of Comprehensive Income |
| (Thousands of Pesos) |
| 4Q21 | 4Q22 | % Var | 2021 | 2022 | % Var | |||||||||||||
| Revenues | ||||||||||||||||||
| Aeronautical Revenues | 1,552,492 | 1,955,680 | 26.0 | 5,277,728 | 7,055,543 | 33.7 | ||||||||||||
| Non-Aeronautical Revenues | 478,842 | 603,530 | 26.0 | 1,653,379 | 2,229,802 | 34.9 | ||||||||||||
| Aeronautical Revenues + Non-Aeronautical Revenues | 2,031,334 | 2,559,210 | 26.0 | 6,931,107 | 9,285,345 | 34.0 | ||||||||||||
| Construction Revenues | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||
| Total Revenues | 2,679,766 | 3,665,558 | 36.8 | 8,720,010 | 11,934,768 | 36.9 | ||||||||||||
| Operating Costs | ||||||||||||||||||
| Cost of Services | 227,478 | 264,229 | 16.2 | 782,107 | 923,638 | 18.1 | ||||||||||||
| Administrative Expenses | 150,457 | 187,036 | 24.3 | 586,542 | 667,600 | 13.8 | ||||||||||||
| Major Maintenance Provision | 117,863 | 41,786 | (64.5 | ) | 512,653 | 472,077 | (7.9 | ) | ||||||||||
| Construction Costs | 648,432 | 1,106,348 | 70.6 | 1,788,903 | 2,649,423 | 48.1 | ||||||||||||
| Concession Taxes | 92,318 | 117,718 | 27.5 | 319,906 | 428,717 | 34.0 | ||||||||||||
| Technical Assistance Fee | 40,729 | 51,610 | 26.7 | 133,558 | 177,667 | 33.0 | ||||||||||||
| Depreciation and Amortization | 127,699 | 147,917 | 15.8 | 487,230 | 551,200 | 13.1 | ||||||||||||
| Other expenses (Revenues) - Net | (606 | ) | (1 | ) | (99.8 | ) | (1,278 | ) | (40 | ) | (96.9 | ) | ||||||
| Total Operating Costs and Expenses | 1,404,370 | 1,916,643 | 36.5 | 4,609,621 | 5,870,282 | 27.3 | ||||||||||||
| Operating Income | 1,275,396 | 1,748,915 | 37.1 | 4,110,389 | 6,064,486 | 47.5 | ||||||||||||
| Operating Margin (%) | 47.6 | % | 47.7 | % | 47.1 | % | 50.8 | % | ||||||||||
| Financing (Expense) Income: | ||||||||||||||||||
| Interest Income | 49,535 | 55,529 | 12.1 | 129,479 | 171,312 | 32.3 | ||||||||||||
| Interest (Expense) | (142,783 | ) | (256,523 | ) | 79.7 | (516,676 | ) | (934,102 | ) | 80.8 | ||||||||
| Exchange Gain (Loss) - Net | 63,610 | (3,659 | ) | n.a. | 112,617 | (8,871 | ) | n.a. | ||||||||||
| Total Financing (Expense) Income | (29,638 | ) | (204,653 | ) | 590.5 | (274,580 | ) | (771,661 | ) | 181.0 | ||||||||
| Income before Taxes | 1,245,758 | 1,544,262 | 24.0 | 3,835,809 | 5,292,825 | 38.0 | ||||||||||||
| Taxes - Cash | 383,442 | 401,486 | 4.7 | 1,217,749 | 1,653,920 | 35.8 | ||||||||||||
| Taxes - Deferred | (153,237 | ) | 7,754 | n.a. | (245,570 | ) | (278,400 | ) | 13.4 | |||||||||
| Income Tax | 230,205 | 409,240 | 77.8 | 972,179 | 1,375,520 | 41.5 | ||||||||||||
| Consolidated Net Income | 1,015,553 | 1,135,022 | 11.8 | 2,863,630 | 3,917,305 | 36.8 | ||||||||||||
| Other Comprehensive Income: | ||||||||||||||||||
| Actuarial Gains (Losses) | 4,281 | 21,258 | 397 | 4,281 | 21,258 | 397 | ||||||||||||
| Deferred Tax Effect | (1,284 | ) | (6,377 | ) | 397 | (1,284 | ) | (6,377 | ) | 397 | ||||||||
| Consolidated Comprehensive Income | 1,018,550 | 1,149,903 | 12.9 | 2,866,627 | 3,932,186 | 37.2 | ||||||||||||
| Consolidated Net Income attributable to: | ||||||||||||||||||
| Non-Controlling Interest | 2,556 | 5,110 | 99.9 | 6,365 | 16,338 | 156.7 | ||||||||||||
| Controlling Interest | 1,012,997 | 1,129,912 | 11.5 | 2,857,265 | 3,900,967 | 36.5 | ||||||||||||
| Consolidated Comprehensive Income attributable to: | ||||||||||||||||||
| Non-Controlling Interest | 2,556 | 5,110 | 99.9 | 6,365 | 16,338 | 156.7 | ||||||||||||
| Controlling Interest | 1,015,994 | 1,144,793 | 12.7 | 2,860,262 | 3,915,848 | 36.9 | ||||||||||||
| Weighted Average Shares Outstanding | 386,169,425 | 386,169,425 | 388,634,783 | 386,169,425 | ||||||||||||||
| EPS (Ps.) | 2.62 | 2.93 | 11.5 | 7.35 | 10.10 | 37.4 | ||||||||||||
| EPADS (US$) | 1.03 | 1.20 | 17.2 | 2.87 | 4.15 | 44.4 | ||||||||||||
| EBITDA | 1,403,095 | 1,896,832 | 35.2 | 4,597,619 | 6,615,686 | 43.9 | ||||||||||||
| EBITDA Margin (%) | 52.4 | % | 51.7 | % | 52.7 | % | 55.4 | % | ||||||||||
| Adjusted EBITDA | 1,520,958 | 1,938,618 | 27.5 | 5,110,272 | 7,087,763 | 38.7 | ||||||||||||
| Adjusted EBITDA Margin (%) | 74.9 | % | 75.8 | % | 73.7 | % | 76.3 | % |
13
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| Unaudited Consolidated Cash Flow Statement |
| (Thousands of Pesos) |
| From October 1 to December 31, | From January 1 to December 31, | |||||||||||||||||
| 2021 | 2022 | % Var. | 2021 | 2022 | % Var. | |||||||||||||
| Operating Activities | ||||||||||||||||||
| Income Before Taxes | 1,245,758 | 1,544,262 | 24.0 | 3,835,809 | 5,292,825 | 38.0 | ||||||||||||
| Depreciation and Amortization | 127,699 | 147,916 | 15.8 | 487,230 | 551,200 | 13.1 | ||||||||||||
| Major Maintenance Provision | 117,863 | 41,786 | (64.5 | ) | 512,653 | 472,077 | (7.9 | ) | ||||||||||
| Doubtful Accounts Provision | (461 | ) | 3,025 | n.a. | 645 | 4,711 | 630.0 | |||||||||||
| (Profit) / Loss on Sales of Machinery and Equipment - Net | (607 | ) | (2 | ) | (99.7 | ) | (1,520 | ) | (40 | ) | (97.3 | ) | ||||||
| Interest Income | (49,535 | ) | (55,529 | ) | 12.1 | (129,479 | ) | (171,312 | ) | 32.3 | ||||||||
| Items in Results Related to Financing Activities | ||||||||||||||||||
| Present Value of Major Maintenance Provision | 36,192 | 46,983 | 29.8 | 114,137 | 174,870 | 53.2 | ||||||||||||
| Interest Expense | 106,591 | 209,540 | 96.6 | 402,538 | 759,232 | 88.6 | ||||||||||||
| Exchange Fluctuation | (34,793 | ) | 4,362 | n.a. | (84,916 | ) | 5,546 | n.a. | ||||||||||
| 1,548,708 | 1,942,344 | 25.4 | 5,137,099 | 7,089,109 | 38.0 | |||||||||||||
| Changes in: | ||||||||||||||||||
| Trade Accounts Receivable - Net | (80,494 | ) | (67,136 | ) | (16.6 | ) | (252,672 | ) | (185,151 | ) | (26.7 | ) | ||||||
| Recoverable Taxes | (76,681 | ) | (14,032 | ) | (81.7 | ) | 266,765 | 16,482 | (93.8 | ) | ||||||||
| Other Accounts Receivable | 11,426 | (191,347 | ) | n.a. | 14,175 | (215,714 | ) | n.a. | ||||||||||
| Accounts Payable | 8,095 | 255,675 | 3,058.4 | (32,374 | ) | 126,296 | n.a. | |||||||||||
| Taxes and Accrued Expenses | 5,809 | (41,583 | ) | n.a. | (98,515 | ) | 27,868 | n.a. | ||||||||||
| Taxes Paid | (141,277 | ) | (324,218 | ) | 129.5 | (491,542 | ) | (1,721,967 | ) | 250.3 | ||||||||
| Accounts Payable to Related Parties | (928 | ) | 58,789 | n.a. | 97,780 | 197,383 | 101.9 | |||||||||||
| Major Maintenance Payments | (71,023 | ) | (63,921 | ) | (10.0 | ) | (203,042 | ) | (397,962 | ) | 96.0 | |||||||
| Other Long-Term Liabilities | 10,051 | 9,564 | (4.8 | ) | 9,172 | 48,992 | 434.1 | |||||||||||
| Net Flow from Operating Activities | 1,213,686 | 1,564,135 | 28.9 | 4,446,845 | 4,985,336 | 12.1 | ||||||||||||
| Investment Activities | ||||||||||||||||||
| Acquisition of Property, Plant and Equipment | (28,229 | ) | (132,838 | ) | 370.6 | (101,333 | ) | (236,468 | ) | 133.4 | ||||||||
| Investment in Airport Concessions | (579,793 | ) | (1,212,203 | ) | 109.1 | (1,824,557 | ) | (2,669,018 | ) | 46.3 | ||||||||
| Other Long-Term Assets | — | (7,200 | ) | n.a. | — | (20,625 | ) | n.a. | ||||||||||
| Proceeds from Sale of Land, Machinery and Equipment | 607 | 2 | (99.7 | ) | 1,520 | 40 | (97.3 | ) | ||||||||||
| Interest income | 49,535 | 55,529 | 12.1 | 129,479 | 171,312 | 32.3 | ||||||||||||
| Net Flow from Investing Activities | (557,881 | ) | (1,296,710 | ) | 132.4 | (1,794,892 | ) | (2,754,759 | ) | 53.5 | ||||||||
| Cash Flow before Financing Activities | 655,805 | 267,424 | (59.2 | ) | 2,651,953 | 2,230,578 | (15.9 | ) | ||||||||||
| Financing Activities | ||||||||||||||||||
| Repurchase of Shares | — | — | n.a. | (474,852 | ) | — | (100.0 | ) | ||||||||||
| Debt Issuance | — | — | n.a. | 3,500,000 | 4,000,000 | 14.3 | ||||||||||||
| Debt Issue - Paid | — | — | n.a. | (3,000,000 | ) | — | (100.0 | ) | ||||||||||
| Debt Issuance Expenses | — | (3,716 | ) | n.a. | (12,859 | ) | (14,076 | ) | 9.5 | |||||||||
| Related-party Loans - Received | — | 24,500 | n.a. | — | 39,200 | n.a. | ||||||||||||
| Related-party Loans - Paid | — | — | n.a. | (7,350 | ) | — | (100.0 | ) | ||||||||||
| Bank Loans - Received | 2,700,000 | 1,200,000 | (55.6 | ) | 2,700,000 | 1,200,000 | (55.6 | ) | ||||||||||
| Bank Loans - Paid | — | — | n.a. | (13,967 | ) | (2,700,000 | ) | 19,231.3 | ||||||||||
| Interest Expense | (94,182 | ) | (208,730 | ) | 121.6 | (364,324 | ) | (731,915 | ) | 100.9 | ||||||||
| Dividends Paid | (1,979,790 | ) | — | (100.0 | ) | (1,979,790 | ) | (6,615,798 | ) | 234.2 | ||||||||
| Payment of Financial Leases | (12,772 | ) | (13,595 | ) | 6.4 | (54,589 | ) | (53,185 | ) | (2.6 | ) | |||||||
| Net Cash Flow from Financing Activities | 613,255 | 998,459 | 63 | 292,269 | (4,875,774 | ) | n.a. | |||||||||||
| Net Increase (Reduction) in Cash and Cash Equivalents | 1,269,060 | 1,265,883 | (0 | ) | 2,944,222 | (2,645,197 | ) | n.a. | ||||||||||
| Effects of changes in the value of cash | 34,322 | (1,969 | ) | n.a. | 84,138 | (5,547 | ) | n.a. | ||||||||||
| Cash and Equivalents at Beginning of Period | 4,683,782 | 2,072,506 | (55.8 | ) | 2,958,804 | 5,987,164 | 102.4 | |||||||||||
| Cash and Equivalents at End of Period | 5,987,164 | 3,336,420 | (44.3 | ) | 5,987,164 | 3,336,420 | (44.3 | ) | ||||||||||
14
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| Unaudited Statement of Changes in Stockholders’ Equity |
| As of December 31, 2021 (Thousand Pesos) |
| Additional | Share | Non- | Total | |||||||||||||||||||||
| Number of | Capital stock | Paid-In | Retained | Repurchase | Labor | Controlling | Stockholder’s | |||||||||||||||||
| Shares | Nominal | Capital | Earnings | Reserve | Obligations | Interest | Equity | |||||||||||||||||
| Balance as of December 31, 2020 | 390,111,556 | 300,822 | 29,786 | 8,824,666 | 1,500,000 | (4,933 | ) | 175,906 | 10,826,247 | |||||||||||||||
| Reissuance (Repurchase) of Shares - Net | (3,942,131 | ) | (3,040 | ) | — | — | (471,812 | ) | — | — | (474,852 | ) | ||||||||||||
| Dividends Paid | — | — | — | (1,979,790 | ) | — | — | — | (1,979,790 | ) | ||||||||||||||
| Comprehensive Income (Loss) | — | — | — | 2,857,265 | — | 2,997 | 6,365 | 2,866,627 | ||||||||||||||||
| Balance as of December 31, 2021 | 386,169,425 | 297,782 | 29,786 | 9,702,141 | 1,028,188 | �� | (1,936 | ) | 182,271 | 11,238,232 | ||||||||||||||
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| As of December 31, 2022 (Thousand Pesos) |
| Additional | Share | Non- | Total | |||||||||||||||||||||
| Number of | Capital stock | Paid-in | Retained | Repurchase | Labor | Controlling | Stockholder’s | |||||||||||||||||
| Shares | Nominal | Capital | Earnings | Reserve | Obligations | Interest | Equity | |||||||||||||||||
| Balance as of December 31, 2021 | 386,169,425 | 297,782 | 29,786 | 9,702,141 | 1,028,188 | (1,936 | ) | 182,271 | 11,238,232 | |||||||||||||||
| Dividends Paid | — | — | — | (6,602,598 | ) | — | — | (13,200 | ) | (6,615,798 | ) | |||||||||||||
| Increase in the Share Repurchase Reserve | — | — | — | (471,812 | ) | 471,812 | — | — | — | |||||||||||||||
| Comprehensive Income (Loss) | — | — | — | 3,900,967 | — | 14,881 | 16,338 | 3,932,186 | ||||||||||||||||
| Balance as of December 30, 2022 | 386,169,425 | 297,782 | 29,786 | 6,528,698 | 1,500,000 | 12,945 | 185,409 | 8,554,620 | ||||||||||||||||
15
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| Unaudited Operating Results by Airport |
| (Thousands of Pesos) | ||||||||||
| Monterrey | 4Q21 | 4Q22 | 2021 | 2022 | Culiacán | 4Q21 | 4Q22 | 2021 | 2022 | |
| Total Revenues | 1,200,742 | 1,748,808 | 3,831,881 | 5,256,440 | Total Revenues | 205,708 | 237,061 | 722,328 | 949,713 | |
| Aeronautical Revenues | 704,187 | 920,044 | 2,371,178 | 3,142,470 | Aeronautical Revenues | 158,023 | 200,387 | 573,506 | 754,160 | |
| Non- Aeronatical Revenues | 154,936 | 184,890 | 551,744 | 699,763 | Non- Aeronatical Revenues | 14,389 | 18,228 | 57,560 | 67,591 | |
| Construction Revenues | 341,619 | 643,875 | 908,960 | 1,414,207 | Construction Revenues | 33,296 | 18,446 | 91,262 | 127,961 | |
| Income from Operations | 101,590 | 543,942 | 505,075 | 1,337,766 | Income from Operations | 26,637 | 97,467 | 109,181 | 284,813 | |
| EBITDA | 138,272 | 591,594 | 647,228 | 1,506,361 | EBITDA | 32,302 | 103,625 | 131,623 | 308,987 | |
| Chihuahua | Ciudad Juárez | |||||||||
| Total Revenues | 159,994 | 185,060 | 531,015 | 712,122 | Total Revenues | 202,711 | 339,868 | 604,888 | 866,402 | |
| Aeronautical Revenues | 126,351 | 151,749 | 419,027 | 546,445 | Aeronautical Revenues | 125,259 | 158,396 | 403,208 | 568,204 | |
| Non- Aeronatical Revenues | 12,636 | 16,238 | 48,531 | 56,993 | Non- Aeronatical Revenues | 8,974 | 11,812 | 36,148 | 39,277 | |
| Construction Revenues | 21,007 | 17,073 | 63,457 | 108,683 | Construction Revenues | 68,478 | 169,660 | 165,532 | 258,922 | |
| Income from Operations | 27,114 | 34,872 | 79,272 | 210,624 | Income from Operations | 18,145 | 78,960 | 74,111 | 212,342 | |
| EBITDA | 33,738 | 41,673 | 105,656 | 237,267 | EBITDA | 22,202 | 83,596 | 89,312 | 230,449 | |
| Mazatlán | Acapulco | |||||||||
| Total Revenues | 125,629 | 199,818 | 408,996 | 672,761 | Total Revenues | 79,896 | 101,037 | 273,969 | 390,219 | |
| Aeronautical Revenues | 96,722 | 126,561 | 317,004 | 472,741 | Aeronautical Revenues | 53,292 | 69,100 | 196,631 | 275,301 | |
| Non- Aeronatical Revenues | 12,490 | 16,153 | 46,368 | 57,766 | Non- Aeronatical Revenues | 8,111 | 9,367 | 33,250 | 38,444 | |
| Construction Revenues | 16,417 | 57,104 | 45,625 | 142,254 | Construction Revenues | 18,493 | 22,570 | 44,088 | 76,474 | |
| Income from Operations | 12,166 | 65,742 | 57,048 | 182,543 | Income from Operations | 10,604 | 33,356 | 41,483 | 106,615 | |
| EBITDA | 17,003 | 71,112 | 76,302 | 203,542 | EBITDA | 22,092 | 45,179 | 87,177 | 153,374 | |
| Zihuatanejo | Other six airports | |||||||||
| Total Revenues | 86,493 | 90,810 | 289,102 | 342,865 | Total Revenues | 402,193 | 471,562 | 1,388,402 | 1,696,505 | |
| Aeronautical Revenues | 40,022 | 52,230 | 137,018 | 219,411 | Aeronautical Revenues | 263,660 | 296,838 | 908,942 | 1,148,216 | |
| Non- Aeronatical Revenues | 5,534 | 5,581 | 22,127 | 25,255 | Non- Aeronatical Revenues | 29,142 | 31,362 | 124,514 | 124,736 | |
| Construction Revenues | 40,937 | 32,999 | 129,957 | 98,199 | Construction Revenues | 109,392 | 143,362 | 354,946 | 423,553 | |
| Income from Operations | 11,578 | 24,219 | 26,664 | 85,484 | Income from Operations | 47,139 | 202,789 | 166,506 | 440,596 | |
| EBITDA | 16,805 | 29,628 | 46,721 | 106,971 | EBITDA | 70,446 | 228,851 | 252,524 | 539,564 | |
| Consorcio Grupo Hotelero T2 (1) | Consorcio Hotelero Aeropuerto Monterrey (1) | |||||||||
| Revenues | 56,610 | 72,049 | 173,180 | 239,186 | Revenues | 18,363 | 25,639 | 52,900 | 94,153 | |
| Income from Operations | 14,023 | 15,461 | 35,708 | 66,884 | Income from Operations | 4,398 | 5,394 | 5,789 | 24,652 | |
| EBITDA | 26,532 | 30,706 | 77,762 | 112,531 | EBITDA | 7,246 | 8,271 | 17,326 | 36,410 | |
| OMA VYNMSA Aero Industrial Park | ||||||||||
| Revenues | 18,752 | 23,801 | 68,294 | 81,863 | (1) Includes results of other equity-method subsidiaries | |||||
| Income from Operations | 9,624 | 13,564 | 31,222 | 41,608 | ||||||
| EBITDA | 16,999 | 21,499 | 60,271 | 72,303 | ||||||
16
Notes to the Financial Information
Financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”), and presented in accordance with IAS 34 “Interim Financial Reporting.” For more information, please refer to our Quarterly Financial Information submitted to the Mexican Stock Exchange (www.bmv.com.mx)
Unless stated otherwise, all comparisons of operating or financial results are made with respect to the comparable prior of 2021. The exchange rates used to convert foreign currency amounts were Ps.20.4672 as of December 31, 2021 and Ps.19.4715 as of December 31, 2022.
Construction revenue, construction cost: IFRIC 12 “Service Concession Arrangements” addresses how service concession operators should account for the obligations they undertake and rights they receive in service concession arrangements. The concession contracts for each of OMA’s airport subsidiaries establishes that the concessionaire is obligated to carry out improvements to the infrastructure transferred in exchange for the rights over the concession granted by the Federal Government. The latter will receive all the assets at the end of the concession period. As a result, the concessionaire should recognize, using the percentage of completion method, the revenues and costs associated with the improvements to the concessioned assets. The amount of the revenues and costs so recognized should be the price that the concessionaire pays or would pay in an arm’s length transaction for the execution of the works or the purchase of machinery and equipment, with no profit recognized for the construction or improvement. The application of IFRIC 12 does not affect operating income, net income, or EBITDA, but does affect calculations of margins based on total revenues.
Capital investments: includes investments in fixed assets (including investments in land, machinery, and equipment) and improvements to concessioned properties under the Master Development Plan (MDP) plus strategic investments.
Strategic Investments: Refers only to those capital investments additional to the Master Development Program.
Passengers and Terminal passengers: All references to passenger traffic volumes are to Terminal passengers, which includes passengers on the three types of aviation (commercial, charter, and general aviation), and excludes passengers in transit. The definition of terminal passengers of OMA may differ from the definition utilized by its shareholder VINCI Airports.
Adjusted EBITDA and Adjusted EBITDA margin: OMA defines Adjusted EBITDA as EBITDA less construction revenue plus construction expense and maintenance provision. We calculate the Adjusted EBITDA margin as Adjusted EBITDA divided by the sum of aeronautical revenue and non-aeronautical revenue. Construction revenue and construction cost do not affect cash flow generation and the maintenance provision corresponds to capital investments. OMA defines EBITDA as net income minus net comprehensive financing income, taxes, and depreciation and amortization. Neither Adjusted EBITDA nor EBITDA should be considered as an alternative to net income as an indicator of our operating performance, or as an alternative to cash flow as an indicator of liquidity. It should be noted that neither Adjusted EBITDA nor EBITDA is defined under IFRS, and may be calculated differently by different companies.
17
Analyst Coverage
In accordance with the requirements of the Mexican Stock Exchange, the analysts covering OMA are:
| Company | Name | Company | Name |
| Actinver Casa de Bolsa | Ramón Ortiz | HSBC | Cenk Orçan |
| Bank of America Merrill Lynch | Alan Macías | Intercam Casa de Bolsa | Alejandra Marcos |
| Banorte-IXE | José Espitia | Insight Investment Research | Robert Crimes |
| Barclays Bank PLC | Pablo Monsiváis | J.P. Morgan | Guilherme Mendes |
| BBVA Bancomer | Montserrat Araujo | Morgan Stanley | Josh Milberg |
| Bradesco BBI | Rodolfo Ramos | Santander | Giovanni Bisogno |
| Citigroup | Stephen Trent | Scotiabank | Francisco Suárez |
| Goldman Sachs | Bruno Armorim | Signum Research | Lucía Tamez |
| Grupo Bursátil Mexicano (GBM) | Javier Gayol | UBS Brasil CCTVM | Alberto Valerio |
| Vector | Marco Montañez | BTG Pactual | Lucas Marquiori |
| Monex | José Solano | ITAÚ BBA | Alejandro Fuchs |
This report may contain forward-looking information and statements. Forward-looking statements are statements that are not historical facts. These statements are only predictions based on our current information and expectations and projections about future events. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “target,” “estimate,” or similar expressions. While OMA’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of OMA, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed in our most recent annual report filed on Form 20-F under the caption “Risk Factors.” OMA undertakes no obligation to update publicly its forward-looking statements, whether as a result of new information, future events, or otherwise.
About OMA
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, operates 13 international airports in nine states of central and northern Mexico. OMA’s airports serve Monterrey, Mexico’s third largest metropolitan area, the tourist destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates the NH Collection Hotel inside Terminal 2 of the Mexico City airport and the Hilton Garden Inn at the Monterrey airport. OMA employs over 1,100 persons in order to offer passengers and clients airport and commercial services in facilities that comply with all applicable international safety and security measures. OMA is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB). For more information, visit:
| ● | Webpage http://ir.oma.aero |
| ● | Twitter http://twitter.com/OMAeropuertos |
| ● | Facebook https://www.facebook.com/OMAeropuertos |
18
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| By: | /s/ Ruffo Pérez Pliego | |
| Ruffo Pérez Pliego | ||
| Chief Financial Officer | ||
Dated February 16, 2023