MONTERREY, Mexico, Feb. 25, 2011 (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, preliminary results for the fourth quarter and full year 2010 today. 1
During 2010, OMA's business initiatives effectively counteracted the difficult environment facing the air transport industry. These initiatives focused on maximizing regulated aeronautical revenues through promoting route development and optimizing rates, and improving the commercial offering and improving the passenger experience in order to grow non-aeronautical revenues.
|4Q 09||4Q 10||% Var||2009||2010||% Var|
|Terminal passengers (million)||2.8||2.8||0.6||11.5||11.6||0.6|
|Total revenues (Ps. million)||483||817||69.2||1,896||2,651||39.8|
|Total revenues ex INIF 17 (Ps. million)||483||536||11.0||1,896||2,144||13.1|
|Adjusted EBITDA (Ps. million)||221||227||2.5||971||941||(3.1)|
|Adjusted EBITDA margin (%)||45.8%||27.8%||51.2%||35.5%|
|Adjusted EBITDA ex INIF 17 (%)||45.8%||42.3%||51.2%||43.9%|
|Income from operations (Ps. million)||110||96||(12.6)||559||471||(15.8)|
|Consolidated net income (Ps. million)||163||368||126.5||470||552||17.6|
|Net income of majority interest (Ps. million)||164||367||124.6||471||553||17.5|
|Capital Expenditures (Ps. million)||281||498||868||732|
|*Based on weighted average shares outstanding|
|See: Notes and disclaimers|
OMA generated strong revenue growth for both the fourth quarter and full year 2010 results, despite the indefinite suspension of operations of Grupo Mexicana in August 2010, which dampened the recovery of air traffic volumes. Passenger traffic increased 0.6% in both the quarter and full year, while the number of flight operations decreased 1.6% in the fourth quarter and increased 5.5% in the year.