Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) Q4 2024 Earnings Call Transcript

2025-02-25 13:40:24 ET

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB)

Q4 2024 Earnings Conference Call

February 25, 2025 11:00 AM ET

Company Participants

Emmanuel Camacho – Investor Relations Officer

Ricardo Dueñas – Chief Executive Officer

Ruffo Pérez Pliego – Chief Financial Officer

Conference Call Participants

Rodolfo Ramos – Bradesco BBI

Jens Spiess – Morgan Stanley

Guillherme Mendes – JPMorgan

Fernanda Recchia – BTG Pactual

Pablo Ricalde – Itaú

Pablo Monsivais – Barclays

Andressa Varotto – UBS

Federico Galassi – TRG

Alan Macías – Bank of America

Edson Murguia – SummaCap

Presentation

Operator

Greetings, and welcome to the Grupo Aeroportuario del Centro Norte, OMA, Fourth Quarter 2024 Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Emmanuel Camacho, Investor Relations Officer for the company. Thank you. You may now begin.

Emmanuel Camacho

Thank you, Melissa. Good morning everyone. Welcome to OMA's fourth quarter 2024 earnings conference call. Joining us this morning are our 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.

And now I'll turn the call over to Ricardo Dueñas for his opening remarks.

Ricardo Dueñas

Thank you, Emmanuel. Hello everyone. We appreciate your presence on this call today. This morning, Ruffo and I will review our annual and quarterly operational performance, financial results and CapEx development. Finally, we will be happy to answer your questions. I will start by discussing our full year 2024 highlights and then I will move to our main fourth quarter results. 2024 started off with challenges, particularly due to aircraft capacity constraint stemming from Pratt & Whitney engine inspection program, which affected two of our largest airline partners, Viva and Volaris.

Together, these airlines accounted for 71% of our total passenger traffic in our airports last year. In parallel, operational restrictions at the Mexico City International Airport posed another challenge for the industry, limiting airline operations at the country's main hub and reshaping connectivity strategies. These combined factors constrained airline capacity planning throughout the year, influencing both domestic and international traffic dynamics. Beyond these challenges, 2024 also brought interesting developments. The combination of operational restrictions at Mexico City Airport and limited aircraft availability in the market created opportunities for airlines to strengthen their international networks....

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