Corporacion America Airports S.A.

Latest Results (14.08.2024):

Revenue Growth

Corporacion America Airports S.A. reported consolidated revenues ex-IFRIC12 of $321.8 million for the fourth quarter of 2023, reflecting a 1.5% year-over-year decline. However, excluding rule IAS 29, consolidated revenues ex-IFRIC12 increased by 18.9% YoY to $397.6 million, driven by significant increases in both Aeronautical and Commercial Revenues.

Passenger Traffic

In the fourth quarter of 2023, Corporacion America Airports S.A. saw a 13.1% year-over-year increase in passenger traffic, reaching 20.7 million passengers. This figure represents 99.1% of the passenger traffic levels seen in the fourth quarter of 2019, indicating a strong recovery towards pre-pandemic levels.

Operating Income

Corporacion America Airports S.A. reported an operating income of $263.6 million for the fourth quarter of 2023, a significant increase from $86.4 million in the same period of the previous year. This increase includes a portion of the $166.5 million EBITDA contribution from the indemnification payment related to the friendly termination of the Natal airport concession agreement in Brazil.

Adjusted EBITDA

Adjusted EBITDA ex-IFRIC12 for Corporacion America Airports S.A. in the fourth quarter of 2023 was $298.8 million, up from $122.1 million in the year-ago period. When excluding the contribution from the Natal indemnification payment, Adjusted EBITDA ex-IFRIC12 increased by 29.4% to $161.2 million, demonstrating strong operational performance.

Full Year Performance

For the full year 2023, Corporacion America Airports S.A. reported consolidated revenues ex-IFRIC12 of $1,255.3 million, a 2.2% year-over-year increase. Excluding rule IAS 29, consolidated revenues ex-IFRIC12 increased by 25.1% YoY to $1,541.0 million, with notable increases in both Aeronautical and Commercial Revenues. The company also saw a 23.7% increase in passenger traffic for the year, reaching 81.1 million passengers.