Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB) Q1 2024 Earnings Conference Call April 25, 2024 1:00 PM ET

Company Participants

Emmanuel Camacho - Investor Relations
Ricardo Duenas - Chief Executive Officer
Ruffo Perez Pliego - Chief Financial Officer

Conference Call Participants

Guilherme Mendes - JPMorgan
Alan Macias - Bank of America
Rodolfo Ramos - Bradesco BBI
Fernanda Recchia - BTG Pactual
Pablo Ricalde - Santander
Jay Singh - Citi
Gabriel Himelfarb - Scotiabank

Operator

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

I will now turn the conference over to your host, Emmanuel Camacho of Investor Relations. You may begin.

Emmanuel Camacho

Thank you, Shimali. Hello, everyone. Welcome to OMAS First Quarter 2024 Earnings Conference Call. We're delighted to have you join us today as we discuss our company's performance and financial results for the past quarter.

Participating today are CEO Ricardo Duenas and CFO Ruffo 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, not 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 with that, I'll turn the call over to Ricardo for his opening remarks.

Ricardo Duenas

Thank you Emmanuel. Good morning everyone. We appreciate your presence in this call today. This morning, Ruffo and I will review our quarterly operational financial results and then we will be pleased to answer your questions.

In the first quarter, OMA's passenger traffic reached 5.9 million, a decrease of 1.5% versus the first quarter of last year. Excluding the Acapulco airport, where hotel infrastructure continues to be affected by the impact of Hurricane Otis that hit in October 2023, terminal passenger traffic in our other twelve airports increased by an aggregate of 0.9% during the quarter. Excluding Acapulco, OMA experienced a decline in domestic traffic of 1.2% in the quarter, driven by lower domestic seat capacity which declined by 9.1%.

The main airports affected were Culiacán and Ciudad Juárez airports, notably on routes such as Culiacán to Tijuana and Ciudad Juárez to Mexico City. International passenger traffic recorded a strong performance, with a 10% increase compared to the first quarter of last year, driven by airlines expanding capacity and international routes.