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OMA Announces Third Quarter 2012 Earnings



OMA Announces Third Quarter 2012 Earnings

MONTERREY, Mexico, Oct. 24, 2012 (GLOBE NEWSWIRE) -- Mexican airport operator
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA
(Nasdaq:OMAB) (BMV:OMA), reported its unaudited results for the third quarter
of 2012 today.

OMA recorded solid results in the third quarter of 2012, with significant
growth from the three lines of business: aeronautical operations, commercial
activities, and diversification projects. Adjusted EBITDA increased 25.4%, and
Consolidated Net Income rose 56.9%.

The 9.1% increase in passenger traffic drove a 17% increase in aeronautical
revenues and an 18% increase in non-aeronautical revenues. The Adjusted EBITDA
margin increased 360 bp to reach 56.0%.

 
(Million passengers and million       3Q11  3Q12  % Var  9M11   9M12   % Var
pesos)
Terminal passengers                    3.2   3.4   9.1    8.8    9.4    7.0
Aeronautical revenues                  497   583   17.4   1,343  1,586  18.1
Non-aeronautical revenues              149   176   17.7   425    491    15.6
Aeronautical revenues +                646   759   17.5   1,768  2,077  17.5
Non-Aeronautical revenues
Construction revenues                  40    39    (2.3)  248    147    (40.8)
Total revenues                         686   798   16.3   2,016  2,224  10.3
Adjusted EBITDA                        339   425   25.4   908    1,129  24.3
Adjusted EBITDA margin (Adjusted
EBITDA/Aeronautical revenues +        52.4% 56.0%        51.4%  54.3%   
Non-aeronautical revenues, %)
Income from operations (Ps. million)   257   338   31.4   662    868    31.0
Consolidated net income (Ps. million)  139   218   56.9   385    563    46.2
Net income of majority interest (Ps.   139   218   56.7   385    562    46.0
million)
EPS* (Ps.)                             0.35  0.55         0.96   1.41   
EPADS* (US$)                           0.22  0.34         0.60   0.87   
Capital Expenditures (Ps. million)     114   130   14.0   503    433    (13.9)
*Based on weighted average shares outstanding

The principal developments of the quarter included:

  * Passenger traffic increased 9.1% to 3.4 million in 3Q12; domestic traffic
    increased 9.3%, and international traffic increased 7.8%.  Nine of our
    airline clients had traffic growth in the quarter.
  * Aeronautical revenues increased 17.4%, principally as a result of the
    growth in passenger traffic.
  * Non-aeronautical revenues increased 17.7%. Commercial initiatives included
    new stores and passenger services in all 13 airports and the expansion of
    commercial areas. Diversification projects included an 8.9% increase in
    revenues of the NH Terminal 2 hotel in the Mexico City Airport and the
    leasing of space for the first phase of the Monterrey Airport Cargo City.
  * The sum of aeronautical and non-aeronautical revenues per passenger
    increased 7.7% to Ps. 220.3.
  * Two new domestic routes and two new international routes opened, as a
    result of route development efforts.
  * Sixty new retail, advertising, restaurant, passenger service, car rental,
    ATMs, telecommunications, and time share marketing locales opened in the
    13 airports, as part of our commercial strategy.
  * Adjusted EBITDA increased 25.4% to Ps. 425 million in 3Q12. The Adjusted
    EBITDA margin reached 56.0%, an increase of 360 basis points, reflecting
    OMA's efforts to increase cash flow generation.
  * Consolidated net income increased 56.9% to Ps. 218 million. Earnings per
    share were Ps. 0.55, or US$0.34 per American Depositary Share (ADS).
  * Capital expenditures were Ps. 130 million.

Revised 2012 Outlook

Based on the first nine months 2012 results, which have exceeded expectations,
OMA is revising its full year outlook. 

OMA estimates that passenger traffic growth in 2012 will be between 6.0% and
7.5%, as a result of the recovery of the air transport industry. The sum of
aeronautical and non-aeronautical revenues is expected to increase between 11%
and 14%. The Adjusted EBITDA margin is expected to be in the range of 52.0% to
54.0%. Capital expenditures under the Master Development Plan will be in the
range of Ps. 600 to 700 million.  This amount is expected to be financed by
additional bank debt of approximately Ps. 150 to 300 million in 4Q12. OMA
expects that its debt coverage ratio (Net Debt/Adjusted EBITDA) will be in the
range of 0.7 to 1.0 for the full year.

OMA is providing this outlook based on internal estimates. A number of factors
could have a significant effect on the estimates of passenger traffic, revenue
growth, Adjusted EBITDA, and Capex. These include changes in airline expansion
plans, ticket prices and other factors affecting traffic volumes, the
evolution of commercial and diversification projects, and economic conditions,
among others. OMA can provide no assurance that the Company will achieve these
results.

The complete earnings report is available at http://ir.oma.aero

OMA (Nasdaq:OMAB) (BMV:OMA) will hold a conference call on October 25, 2012 at
11:00 am Eastern time, 10:00 am Mexico City time.

The conference call is accessible by calling 1-888-846-5003 toll-free from the
U.S. or 1-480-629-9856 from outside the U.S. The conference ID is 4569674. A
taped replay will be available through November 1, 2012 at 877-870-5176 toll
free or + 1-858-384-5517, using the same ID.

The conference call will also be available by webcast at
http://ir.oma.aero/events.cfm.

This press release contains forward-looking information and statements.
Forward-looking statements are statements that are not historical facts. These
statements are only predictions based on our current expectations and
projections about future events. Forward-looking statements may be identified
by the words "believe," "expect," "anticipate," "target," 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 publicly update 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 third largest metropolitan area, the
tourist destinations of Acapulco, Mazatlán, and Zihuatanejo, and nine other
regional centers and border cities. OMA also operates a hotel and commercial
areas inside Terminal 2 of the Mexico City 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 standards, and ISO 9001:2008. OMA's strategic shareholder members are
ICA, Mexico's largest engineering, procurement, and construction company, and
Aéroports de Paris Management, subsidiary of Aéroports de Paris, the second
largest European airports operator. OMA is listed on the Mexican Stock
Exchange (OMA) and on the NASDAQ Global Select Market (OMAB). For more
information, please visit us at:

  * Website:     http://www.oma.aero
  * Twitter:      http://twitter.com/OMAeropuertos
  * Facebook:  http://www.facebook.com/pages/OMA/137924482889484

CONTACT: Jose Luis Guerrero Cortes
         OMA, CFO
         +52.81.8625.4300 ext.308
         jlguerrero@oma.aero
        
         Daniel Wilson
         Zemi Communications
         +1.212.689.9560 ext. 264
         dbmwilson@zemi.com
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