First Quarter 2016 Results

Transcription

1 First Quarter 2016 Results

2 This presentation 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.

3 A b o u t t h e C o m p a n y Our businesses 13 Airports in the central-north region of Mexico, serving 16.9 million passengers in Hotels; NH Collection Hotel in Terminal 2 of the Mexico City Airport, and a Hilton Garden Inn at the Monterrey Airport 1 Industrial Park at the Monterrey Airport Who we are More than 1,000 employees committed to providing aeronautical and commercial services of excellence to our passengers and clients. Listed in BMV and NASDAQ since 2006

4 F i r s t Q u a r t e r R e s u l t s Company Overview Historical Performance Shareholders Operations & Sustainability Aeronautical Business Synergy with Airlines Connectivity Passenger Traffic Airline Participation Aeronautical Revenues 1Q16 Non-Aeronautical Business Commercial Strategy Diversification Strategy Historical NAR Growth NAR 1Q16 Financial Results 1Q16 Highlights Profitability Indicators Value Distribution Balance Sheet MDP & MT Investments Investments Maximum Tariffs Outlook Company Outlook Industry Trends

5 C o m p a n y O v e r v i e w H i s t o r i c a l P e r f o r m a n c e S h a r e h o l d e r s

6 Company Overview Historical Performance Sustained positive trends through economic and business cycles 5,700 Aeronautical Revenues Non-Aeronautical Revenues Passenger Traffic (million) , ,145 4, , ,820 3,065 3,422 26% 27% 27% 2,700 1, ,480 1,334 1,204 19% 16% 19% 84% 81% 81% 1,687 19% 81% 2,144 1,897 1,988 1,896 18% 19% 23% 19% 82% 81% 81% 77% 2,459 24% 76% 24% 26% 76% 74% 74% 73% 73% (300) LTM % Adj. EBITDA2 42% 47% 50% 54% 56% 53% 51% 44% 51% 54% 55% 55% 59% 60% Note: From 2010 to LTM2016 figures expressed under IFRS; figures expressed under MFRS. 1 Represents the sum of aeronautical and non-aeronautical revenues (excludes construction). 2 Adjusted EBITDA Margin = Adjusted EBITDA / (Aeronautical + Non-Aeronautical Revenues). Adjusted EBITDA = Operating income + Depreciation and Amortization + Maintenance Provision.

7 Company Overview Shareholders ICA 1.9% Float 81.4% Includes 7.8mm repurchased shares (2.0% of total shares) SETA 16.7% BB Shares 12.4% B Shares 4.3% SETA Integrated by: Empresas ICA Mexico s largest engineering, procurement, and construction company. Also has operations in Latin America and Europe. Aéroports de Paris Management Aéroports de Paris subsidiary, second airport group in Europe. Specializes in overseeing airport investments and providing airport management services worldwide. Information as of March 31 st, 2016

8 Company Overview Operations & Sustainability Operation & Sustainability Leadership 2014 Culiacán Airport Mazatlán Airport

9 A e r o n a u t i c a l B u s i n e s s Synergy with Airlines Connectivity Passenger Traffic Airline Participation Aeronautical Revenues 1Q16

10 Aeronautical Business Airline Synergy Opened Routes Airline Project Total Regional HUB in MTY Secondary Base in MTY Secondary Base in MTY New Airline operating in 9 of our 13 Airports Total Net Routes per year (1) (1) Opened routes closed routes

11 Aeronautical Business Connectivity 1 0 n e w d i r e c t r o u t e s J a n u a r y - M a y Domestic Routes Chihuahua Tijuana Monterrey Cuernavaca Monterrey Bajío Monterrey Toluca Reynosa Mexico City Reynosa Cancun Reynosa Guadalajara Torreón Mexico City Zihuatanejo Mexico City International Routes Zihuatanejo-Milwaukee Culiacán Phoenix Airline Aeromexico Connect TAR Volaris Volaris Volaris Volaris Volaris Volaris Volaris Airline Sunwing Volaris 7 c a n c e l l e d r o u t e s i n J a n u a r y - M a y

12 Aeronautical Business Passenger Traffic Passenger Traffic 1Q16 Total Pax: 4.2 million (+9.7%) 84% Domestic: 3.5 million (+11.6%) 16% International: 0.7 million (+1.0%) Jan - May 2016 Total Pax: 7.2 million (+8.5%) 86% Domestic: 6.2 million (+10.6%) 14% International: 1.0 million (-2.5%) CUL (+23%) CJS (+21%) CUU (+16%) MZT (+14%) DGO TRC (+16%) (+44%) (+18%) ZCL MTY (+7%) (+4%) SLP REX (+6%) (-6%) TAM Metropolitan Border Cities Tourist Regional (%Part) (46.0%) ( 8.3%) (16.3%) (29.4%) (%) Passenger growth 1Q16 ZIH (-3%) ACA (+4%)

13 Aeronautical Business Airline Participation 86% Domestic Passengers 14% International Passengers TAR 2% Other 6% Other 17% United 18% Interjet 19% Aeroméxico 30% VivaAerobus 1% WestJet 4% Volaris 5% Interjet 5% American 18% VivaAerobus 21% Volaris 22% Alaska 6% Delta 12% Aeroméxico 13% Note: Information as of 1Q16

14 Aeronautical Business Aeronautical Revenues 1Q16 Domestic Passenger Charges International Passenger Charges Airport Services Aeronautical Revenues Ps. 474mm +25.5% Ps. 207mm +20.7% Ps. 128mm +1.4% Ps. 809mm +19.8% 59% of Aeronautical Rev. 26% of Aeronautical Rev. 16% of Aeronautical Rev. 72% of Total Rev. Ps. 194 / PAX * * Total Revenues not considering Construction Revenues

15 N o n - A e r o n a u t i c a l B u s i n e s s Commercial Strategy Diversification Strategy Historical NAR Growth NAR 1Q16

16 Non-Aeronautical Business Commercial Strategy Maximize Commercial Areas International Franchises & Renowned Local Brands Premium Strategy & Loyalty Programs Innovative Advertising Detail of Commercial Initiatives Implemented in 1Q16 Airport Type Quantity Culiacan VIP Lounge 1 Monterrey Advertising 3 Acapulco Retail 1

17 Non-Aeronautical Business Diversification Strategy OMA Carga 9.3% of NAR Hotel NHT2 19.4% of NAR Real Estate 1.3% of NAR +27.1% revenues in 1Q16 Av. Rate: Ps.2,157 (+15%yoy) Occ. Rate: 81% (+250bp) %EBITDA: 37.9% +58.1% revenues in 1Q16 Hotel Hilton Garden Inn 6.6% of NAR Industrial Park Revenues in 2Q16 Av. Rate: Ps.1,782 Occ. Rate: 73% (Beginning of Operations August 2015) Two Contracts Signed on Built-to-Suit Models

18 Non-Aeronautical Business Historical NAR Growth Non-Aeronautical Revenues (NAR) have increased faster than passenger traffic as a result of commercial initiatives and diversification projects Base = NAR Total Passengers % %

19 Non-Aeronautical Business Non-Aeronautical Revenues 1Q16 Commercial Activities Diversification Activities Complementary Activities Non-Aeronautical Revenues Ps. 135mm +7.8% 46% of NAR Ps. 108mm +47.4% 37% of NAR Ps. 45mm +15.6% 15% of NAR Ps. 296mm (+20%) 27% of Total Rev* Ps / PAX Other revenues** were Ps. 8mm (2% of NAR) * Total Revenues not considering Construction Revenues ** Other revenues mainly refers to Cost Recovery

20 F i n a n c i a l R e s u l t s 1Q16 Highlights Profitability Indicators Value Distribution Balance Sheet

21 Financial Results 1Q16 Highlights Passengers Revenues* Adjusted EBITDA** Consolidated Net Income 4.2mm +9.7% Domestic +9.7% International +1.0% Ps. 1,104mm +19.8% Aeronautical +19.8% Non-Aero +19.8% Ps. 705mm +31.6% 1Q16 Margin 63.8% 1Q15 Margin 58.1% Ps. 374mm +44.8% *Total Revenues not considering Construction Revenues ** Adjusted EBITDA Margin = Adjusted EBITDA / (Aeronautical + Non-Aeronautical Revenues). Adjusted EBITDA = Operating income + Depreciation and Amortization + Maintenance Provision.

22 Financial Results Profitability ROA / ROE 25.0 Percentage LTM (1Q16) Earnings per Share Ps LTM (1Q16)

23 Financial Results Focus on Generating Value Historical Dividend or Capital Reimbursement Ps. Million Dividend Yield and Payout Ratio Percentage 1,600 Payout Ratio Dividend Yield 1,400 1, ,200 1,200 1,200 1, , Note: The amounts shown were paid one year after each period. Note: The Dividend Yield was calculated with the stock price at the end of each year.

24 Financial Results as of March 2016 Healthy Balance Sheet Strong Financial Position * Low Leverage vs Industry * Ps. Million Net Debt / Adjusted EBITDA 4,701 2, ,816 Total Debt Cash Net Debt Debt Profile * Short Term 1% USD 5% LTM (1Q16) Capital Structure Improvement * Total Debt Shareholders Equity 75% 67% 56% 56% 58% Long Term 99% MXN 95% 25% 33% 44% 44% 42% LTM (1Q16) *Information as of March 31 st, 2016

25 M a s t e r D e v e l o p m e n t P l a n Investments Investments Maximum Tariffs

26 $1,0 00 $90 0 $80 0 $70 0 $60 0 $50 0 $40 0 $30 0 $20 0 $10 0 $- 100 % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Master Development Plan Total Investment Ps. $3,418mm pesos of Dec. 31 st, 2015 $904 $851 Most Important Projects MTY Terminal A rehabilitation $668 $590 MTY Terminal C expansion MTY Platform expansion $406 CUL Runway expansion and rehabilitation MZT Terminal rehabilitation ACA Terminal expansion and rehabilitation Runway rehabilitation of all our airports 20% 17% 26% 25% 12%

27 $1,6 00 $1,4 00 $1,2 00 $1,0 00 $80 0 $60 0 $40 0 $20 0 $- 100 % 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Master Development Plan Total Investment Ps. $4,640mm pesos of Dec. 31 st, 2015 $1,352 $1,297 TAM, 7% ZIH, 7% ZCL, 2% TRC, 3% ACA, 13% CJS, 4% $987 SLP, 9% CUL, 4% CUU, 10% 29% 28% 21% $606 13% $398 9% REX, 8% MTY, 28% DGO, 3% MZT, 3%

28 Master Development Plan Total Investment Ps. $4,640mm pesos of Dec. 31 st, 2015 Investment Distribution Most Important Projects Terminal Expansion Monterrey Ciudad Juárez Chihuahua San Luis Potosí Tampico New Terminals Acapulco Reynosa Operational Infrastructure Development Monterrey Culiacán Durango ICAO Certification Operational Infrastructure Expansion Major Maintenance 11% 11% Security, Safety & IT Equipment 7% Other 16% 6% Terminal Expansion & Remodeling 49%

29 Master Development Plan Visibility on Aeronautical Revenues Through 2020 Maximum tariffs increased in each airport The maximum rate for each succeeding year through 2020 will be adjusted by inflation and an efficiency factor of 0.70% Airport 2015 (1) (2) 2016 (1) Acapulco Cd. Juarez Chihuahua Culiacan Durango Monterrey Mazatlán Reynosa San Luis Potosi Tampico Torreon Zacatecas Zihuatanejo (1) Expressed in constant pesos of December 31, 2014 before efficiency factor effect. (2) Tariffs as renegotiated in 2013 with the Mexican Bureau of Civil Aviation to take into account the maintenance costs of baggage-screening systems in all of our airports

30 O u t l o o k Company Outlook Industry Trends

31 Outlook 2016 Passenger Traffic Growth 6%-8% Aeronautical Revenue Growth 22%-24% Non-Aeronautical Revenue Growth 13%-15% Adjusted EBITDA Margin 60%-62% MDP Investments (Ps. Million) 1,500-1,700 Strategic Investments (Ps. Million)

32 Outlook Positive Trends in the Aeronautical Industry Air Industry Low Penetration in Mexico Projected Domestic Passenger Traffic CAGR % 5.6% % 4.2% 2.4% % % Mexico Argentina Brazil Canada Chile United States Mexico Brazil United States Canada Russia Central America South America Source: World Bank. Last information available of 2014 Source: Airbus. (Global Market Forecast )

33 Outlook Positive Outlook in Mexico Current Airlines Fleet Airplanes 126 Airlines Expansion Orders Airplane orders ( ) TAR Vivaaerobus Volaris Interjet Aeromexico Aeromexico Interjet Vivaaerobus Volaris TAR Source: DGAC, Airlines. Last information available. Source: DGAC, Airlines. Last information available.

34 G r u p o A e r o p o r t u a r i o d e l C e n t r o N o r t e Chief Financial Officer Vicsaly Torres vtorres@oma.aero Investor Relations Team Emmanuel Camacho ecamacho@oma.aero Manuel Higinio de León mdeleon@oma.aero Laury Franco Castillo lfranco@oma.aero Investor Relations in USA Daniel Wilson Zemi Communications dbmwilson@zemi.com