CAAP - Corporación América Airports GAAP EPS of $0.08 revenue of $386.4M

2023-03-22 08:47:49 ET

• Corporación América Airports press release ( NYSE: CAAP ): Q4 GAAP EPS of $0.08.
• Revenue of $386.4M (+76.7% Y/Y).
• Excluding the impact of IFRS rule IAS 29, revenues increased 81.9% YoY to $397.6 million, reflecting increases of $78.5 million in Aeronautical Revenues, $52.9 million in Commercial Revenues, and $44.8 million in Construction Service Revenue. Revenues ex-IAS 29 reached 106.1% of pre-pandemic levels, up from 91.3% in the third quarter.
• Delivered YoY increases across key operating metrics:
  • 38.3% in passenger traffic to 18.3 million, reaching 87.6% of 4Q19 levels.
  • 1.0% in cargo volume to 92.5 thousand tons, to 80.7% of 4Q19 levels.
  • 23.7% in aircraft movements, to 94.3% of 4Q19 levels.
• Adjusted EBITDA on an “As Reported” basis increased to $123.0 million, from $92.8 million in the year-ago period, with Adjusted EBITDA margin contracting to 31.8% from 42.4%, mainly due to higher government grants and economic compensations received in 4Q21.

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