Q2 2024 Grupo Aeroportuario del Centro Norte SAB de CV Earnings Call Transcript
Key Points
- International passenger traffic increased by 12% compared to the second quarter of last year, driven by strong performance at Monterrey Airport.
- Non-aeronautical revenues grew by 13.8%, highlighting successful strategic projects and diversification efforts.
- Commercial revenues increased by 12%, with significant contributions from VIP lounges, parking, and restaurants.
- OMA Cargo saw a 35% increase in revenues, driven by new operations with Lufthansa Cargo and expansion plans in Monterrey.
- Hotel services grew by 16%, with high occupancy rates and increased average room rates at both NH and Hilton Garden Inn hotels.
- Overall passenger traffic decreased by 2.4% compared to the second quarter of last year, with domestic passenger traffic down by 4.3%.
- Aeronautical revenue decreased by 2.5%, primarily due to lower domestic passenger traffic.
- Construction revenues fell by 22% due to slower MDP investment execution.
- Cost of services and G&A expenses increased by 16.5%, driven by expansion in operational areas and higher unit costs.
- Concession tax increased by 71% due to a rate hike from 5% to 9%, impacting financial results.
Greetings. Welcome to the Grupo Aeroportuario del Centro Norte, OMA, second quarter 2024 earnings conference call. (Operator Instructions)
I will now turn the conference over to your host, Emmanuel Camacho, you may begin.
Thank you, [Matt], and hello, everyone. Welcome to OMA's second quarter 2024 earnings conference call. We're delighted to have you join us today to discuss our company's performance and financial results for the past quarter. Participating today are CEO, Ricardo Dueñas; and CFO, Ruffo Pérez Pliego.
Please be reminded that certain statements made during the course of our discussion today may constitute forward-looking statements, which are based on current management expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including factors that may be beyond our control.
With that, I'll turn the call over to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
