Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| Regarding our financial performance, aeronautical and non-aeronautical revenues reached again record levels in 2023, growing 27% and 18%, respectively, versus 2022 |
| Primarily as a result of the strong passenger traffic performance, our aeronautical revenues grew by 13% in the quarter to MXN2.2 billion |
| As a result, our adjusted EBITDA for the year was MXN9.1 billion, an increase of 28%, and we set a new record of our adjusted EBITDA margin at 78.4% |
| I think that the company continues to show positive efficiency gains and cost controls |
| Adjusted EBITDA grew 16% in the quarter to MXN2.3 billion and adjusted EBITDA margin reached 77.7%, largely as a result of the increase in both aeronautical and non-aeronautical revenues, as well as our continuous cost efficiencies |
| OMA achieved another exceptional financial and operational performance, setting new records for the full year 2023 |
| We achieved record-breaking results in passenger traffic, revenues, adjusted EBITDA with an impressive adjusted EBITDA margin of 78.4%, and then consolidated net income |
| Our full year performance was propelled by a robust increase in both aeronautical and non-aeronautical revenues, underpinned by our successful cost control strategy |
| Consolidated net income for the year reached a record of MXN5 billion and increased by 28% compared to 2022 |
| OMA delivered another strong financial operational performance in the quarter of 2023 -- in the fourth quarter of 2023 |
| It is also important to highlight the positive performance on routes from Monterrey to Queretaro, Cancun, Guadalajara, Houston and Tijuana, which collectively add almost 700,000 passengers in the year and grew by 19% |
| So, we are confident that the commercial revenue per packs will continue to grow this year |
| Total aeronautical and non-aeronautical revenues grew 13.5% to MXN2.9 billion in the quarter |
| So, yes, we are confident that Monterrey will also have growth in OMA Carga, not to the levels of the previous years, but still in the positive side |
| Aeronautical revenues increased 13.4% relative to 4Q '22, driven primarily by the 5.2% increase in passenger traffic and higher revenue per passage |
| In the fourth quarter of '23, revenues benefit from three openings that occurred during the year |
| The restaurant line item benefitted from the operating of new food and beverage shops across the -- across our airports as we have sought to optimize and increase the revenues from leased commercial space, as well as from participation of sales |
| Finally, I'm delighted to share that we have achieved airport carbon accreditation level 2 certification in our 13 airports |
| Outstanding results in the quarter were guided by the performance in Monterrey, which contributed with 96% of OMA's total passenger growth as compared to the fourth quarter of '22 |
| We have remained consistent in our commitment to transparency, sustainability and operational excellence, reflecting our dedication to generating long-term shareholder value |
| Throughout 2023, we achieved notable milestones, including the opening in June of Wing 1 in the Monterrey airport as part of the major expansion project to enhance our capacity to serve passengers and accommodate growth in the airport |
| As a result of our performance, 12 month passenger traffic stood at a new record level of 26.8 million passengers, which represents a 15% growth as compared to 2022 |
| The routes from Monterrey that experienced the highest growth in terms of passenger volume were Querétaro, [Tlaquepaque] (ph), Tijuana, Mexicali, Tapachula, Toluca, and Cancun, which collectively accounted to 47% of the traffic growth during the quarter and grew by 20% |
| Despite challenges such as Hurricane Otis that impacted Acapulco Airport, we demonstrated agility and determination, ensuring minimal disruption to our operations |
| OMA revenues increased 13.9%, with commercial revenues increasing 14.3% and the categories with the highest growth were restaurants, car parking, VIP lounges, and retail |
| During the year, traffic in the market represented 15% of our total passenger traffic and grew collectively by almost 600,000 passengers, an increase of 18% as compared to 2022 |
| Consolidated net income was MXN1.3 billion in the quarter, an increase of 11% versus 4Q '22 |
| This achievement signifies not only our commitment to reducing our carbon footprint, but also aligning with global sustainability goals and maintaining our role as a leader in the aviation industry efforts to combat climate change |
| On the diversification front, revenues increased 15% |
| Commercial revenues increased 14% as compared to the fourth quarter of '22, driven by restaurants, parking, and VIP lounges |
| Statement |
|---|
| Construction revenues amounted to MXN805 million in the fourth quarter, a decrease of 27% relative to the same quarter of last year, as a result of lower MDP investments in the quarter |
| The Mexico City airport announced that they had shown a decline of 11% in the January numbers |
| In reviewing the significant events of the past year, it is clear that we face both challenges and opportunities |
| We are aware of the challenges posed by the capacity reductions in aircraft due to the Pratt & Whitney engine recall program affecting two of the most relevant Mexican airlines |
| Actually, in the routes for OMA, it's about a 9% decline in the month of January |
| We know that there have been some change in terms of these loss of the airlines |
| And that has caused airlines to seek alternative routes |
| We had a decline in payroll, which decreased 10%, which was offset by an increase in other costs and expenses, as a result primarily of higher information technology expenses in the quarter |
| So all of the airports had a decline except for three airports |
| With respect to traffic performance for 2024, yes, two of our main airlines are subject to the recalls of Pratt & Whitney |
| Certainly in the short run, capacity will have to take into consideration impacts that may be the result of the P&W recall |
| And if you include the effects, the growth of Toluca and AIFA, the total metropolitan market for January was about a 2% reduction in January just |
| But recovery, we'll have to see how the recovery of the city behaves |
| [Technical Difficulty] Ricardo Duenas We lost you also, Federico |
| Operator It looks like we lost her |
| And we also should expect, although it's difficult to measure it, some traffic that will be diverted to our Monterrey hub as well |
| I think based on what we know at this time and we have a little visibility of what the recall calendar is going to be for the rest of the year |
| So, as you know, starting in January of this year, hourly operations were reduced from 53 to 42 per hour |
| Ricardo Duenas Gabriel, we cannot hear you clearly |
Please consider a small donation if you think this website provides you with relevant information