MONTERREY, Mexico, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ:OMAB) (BMV:OMA), today reported its unaudited, consolidated results for the fourth quarter and full year 2017.

Fourth quarter and full year 2017 summary

OMA recorded an increase of 1.8% in passenger traffic in 4Q17, despite the deceleration of the rate of traffic growth in Mexico, and recorded a 4.8% increase in traffic for the full year. The sum of aeronautical and non-aeronautical revenues rose 4.6% in the quarter and 11.5% in the full year. Adjusted EBITDA rose 13.6% in 4Q17, with an Adjusted EBITDA margin of 67.5% -- the highest quarterly margin in OMA’s history. For the year, Adjusted EBITDA increased 15.2%, with an Adjusted EBITDA margin of 66.0% -- also a record.  Operating income rose 13.8% in 4Q17, and consolidated net income increased 9.5%.  For the full year, operating income and net income grew 16.4% and 13.9%, respectively.

The principal results of the fourth quarter include:

• Total terminal passenger traffic increased 1.8% to 5.0 million. Domestic traffic increased 2.0% and international traffic increased 0.6%. The Monterrey and Culiacán airports contributed the most to passenger growth.
• Aeronautical revenues increased 3.4%, principally as a result of traffic growth and an increase in tariffs in 2Q17.
  --  Aeronautical revenues per passenger increased 1.6% to Ps. 217.6.
• Non-aeronautical revenues increased 8.0%, principally from growth in commercial activities, particularly car rental, restaurants, and parking, as well as diversification businesses, especially hotel services.
  --  Non-aeronautical revenues per passenger increased 6.1% to Ps. 77.9.
• Adjusted EBITDA¹ increased 13.6% to Ps. 999 million. The Adjusted EBITDA margin reached 67.5%, a record for highest margin in a quarter.  
• Consolidated net income increased 9.5% to Ps. 625 million. Earnings per share increased 9.5% to Ps. 1.58, based on weighted average shares outstanding, while earnings per American Depositary Share (ADS) rose 14.7% to US$ 0.64.
• Capex, major maintenance, and other smaller expenditures included in the Master Development Programs (MDP) and strategic investments totaled Ps. 590 million.

Full year 2017 highlights include:

• OMA generated growth in its financial and operating results, with new records for passenger traffic, revenues, Adjusted EBITDA, Adjusted EBITDA margin, and consolidated net income in 2017.
• Total passenger traffic increased 4.8% to 19.7 million passengers. 
• Passenger volume growth contributed to a 12.2% increase in aeronautical revenues and a 9.3% increase in non-aeronautical revenues.  The sum of aeronautical and non-aeronautical revenues reached Ps. 5,803 million (+11.5%).
• Cost of services and G&A expense increased only 1.7%, as a result of strict controls on business operations.  As a result, Adjusted EBITDA reached Ps. 3,829 million (+15.2%), with an Adjusted EBITDA margin of 66.0%.  Operating income increased 13.8%.  The effective tax rate was 27.6%.
• Consolidated net income increased 13.9% to Ps. 2,137 million.  Earnings per share were Ps. 5.40 and earnings per ADS were US$2.19. In order to develop passenger terminal and operating infrastructure and to improve service quality in OMA’s 13 airports, total investments in accordance with the Master Development Programs and strategic investments were Ps. 1,684 million. The full year return on capital was 29.6%.
• OMA continued to position itself as a sustainable enterprise and a leader in the airport operation sector, with recognitions for quality, workplace safety, environment, and social responsibility, including:
  --  Selection as part of the Dow Jones Sustainability MILA Pacific Alliance Index, which includes the companies with the highest sustainability rankings in the four Latin American countries of the Pacific Alliance:  Mexico, Colombia, Peru, and Chile.
  --  Inclusion in the Dow Jones Sustainability Emerging Markets Index (“DJSI”) for the second consecutive year, and in the Mexican Stock Exchange’s  IPC Sustainable Index (“IPC Sustentable”) for the seventh consecutive year.
  --  Recognition as “A Great Place to Work” for the seventh consecutive year, as being one of the 100 best companies to work for in Mexico and ranked number 1 in northeastern Mexico. In addition OMA was certified as a Socially Responsible Company (“ESR”) for the 10^th year, by the Mexican Center for Philanthropy.
• OMA was included in the Mexican Stock Exchange’s benchmark IPC index, for the third consecutive year.

OMA’s complete earnings report is available at http://ir.oma.aero.

OMA (NASDAQ:OMAB) (BMV:OMA) will hold its 4Q17 earnings conference call on February 26, 2018 at 12 pm Eastern time, 11 am Mexico City time.

The conference call is accessible by calling 1-888-394-8218 toll-free from the U.S. or 1-323-701-0225 from outside the U.S. The conference ID is 8312253. The conference call will also be available by webcast at http://ir.oma.aero/events.cfm .

A taped replay will be available through March 5, 2018 at 1-844-512-2921 toll free or + 1-412-317-6671, using the same conference ID.

This press release 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.                           

About OMA
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, operates 13 international airports in nine states of central and northern Mexico. OMA’s airports serve Monterrey, Mexico’s fourth largest metropolitan area, the tourist destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates the NH Collection Hotel inside Terminal 2 of the Mexico City airport and the Hilton Garden Inn at the Monterrey airport. OMA employs over 1,000 persons in order to offer passengers and clients airport and commercial services in facilities that comply with all applicable international safety, security, and ISO 9001:2008 environmental standards.  OMA is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB). For more information, visit:

• Webpage http://ir.oma.aero
• Twitter http://twitter.com/OMAeropuertos
• Facebook https://www.facebook.com/OMAeropuertos

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¹ Adjusted EBITDA excludes the non-cash maintenance provision, construction revenue, and construction expense.  OMA provides a full reconciliation of Adjusted EBITDA to Net Income in the corresponding section of this report; see also the Notes to the Financial Information.

CONTACT:

Investor Relations: 
Emmanuel Camacho 
+52 (81) 8625 4308
ecamacho@oma.aero

In the US: Daniel Wilson /Zemi Communications
+1 (212) 689 9560
dbmwilson@zemi.com

Media Relations:
Paola Fernández
+52 (81) 8625 4300
pfernandez@oma.aero

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