Corporacion Am - CAAP STOCK NEWS

Corporación América Airports S.A. (NYSE: CAAP), a leading private airport operator, has announced a significant increase in domestic passenger fees for airports operated by its subsidiary, Aeropuertos Argentina 2000 (AA2000) in Argentina. The Argentine airport regulator, ORSNA, has approved Resolution No. 29/2024, which raises the fee from ARS2,540 to ARS5,685. This new tariff will be applied to tickets issued from the date of the resolution's publication and for travel occurring after a 30-day period from that date.

Corporación América Airports S.A. (NYSE: CAAP) reported a 3.8% year-on-year decrease in passenger traffic for August 2024. Excluding Natal airport, the decrease was 1.5% YoY. Key highlights include:

- Domestic passengers decreased by 12.6% YoY
- International passengers increased by 5.8% YoY
- Cargo volume increased by 5.1% YoY
- Aircraft movements decreased by 5.4% YoY

Performance varied across countries, with Italy showing growth (+6.6% YoY), while Argentina (-6.0% YoY) and Brazil (-8.1% YoY) faced challenges. Uruguay (+13.4% YoY) and Ecuador (-0.8% YoY) also saw notable changes. The report highlights the impact of economic conditions, airline changes, and the discontinuation of Natal airport operations on overall traffic figures.

Corporación América Airports S.A. (NYSE: CAAP) reported its Q2 2024 results:

- Consolidated Revenues ex-IFRIC12 up 0.2% YoY to $366.1 million, despite 7.8% decrease in passenger traffic

- Operating Income down to $92.9 million from $110.4 million in Q2 2023

- Adjusted EBITDA ex-IFRIC12 decreased 8.8% to $136.2 million

- Strong cash position with $439.4 million in Cash & Cash equivalents

- Net debt to LTM Adjusted EBITDA improved to 1.1x

Key factors:

• Geographic diversification mitigated soft performance in Argentina
• Revenue per passenger ex-IFRIC12 increased 9% YoY
• Strong performances in Italy and Uruguay
• Negotiating $400 million Capex plan with Armenian government
• Awaiting approval for new Florence airport master plan

Corporación América Airports S.A. (NYSE: CAAP) reported a 4.2% year-on-year decrease in passenger traffic for July 2024. Excluding Natal airport, the decline was 1.8% YoY. Key highlights include:

- Domestic passengers down 13.3% YoY
- International passengers up 7.6% YoY
- Total passengers: 7.34 million
- Cargo volume decreased 1.5% YoY
- Aircraft movements down 3.9% YoY

Performance varied across countries, with Argentina seeing a 5.5% decline, Italy growing 5.5%, Brazil down 9.6% (up 3.3% ex-Natal), Uruguay up 15.1%, Ecuador down 5.1%, and Armenia decreasing 2.2% YoY in passenger traffic.

Corporación América Airports S.A. (NYSE: CAAP), a leading private airport operator, has scheduled its Second Quarter 2024 financial results announcement for Wednesday, August 21, 2024, after market close. A conference call will follow on Thursday, August 22, 2024, at 9:00 am Eastern Time.

Key executives participating include CEO Martín Eurnekian, CFO Jorge Arruda, and Head of Investor Relations Patricio Iñaki Esnaola. Investors can join via phone or webcast, with dial-in numbers provided for North America (toll-free) and other locations. A recording will be available after the call.

Corporación América Airports S.A. (NYSE: CAAP) reported a 8.9% year-on-year decrease in passenger traffic for June 2024. Excluding Natal airport, the decline was 6.7%. Key highlights include:

- Domestic traffic down 20.3% YoY
- International traffic up 9.4% YoY
- Cargo volume increased by 4.3% YoY
- Aircraft movements decreased by 10.5% YoY

Notable country performances:
- Argentina: Total traffic down 14.1%, with domestic traffic declining 22.3%
- Italy: Traffic grew 15.2%, driven by international passengers
- Brazil: Traffic decreased 14.9% (4.4% excluding Natal)
- Uruguay: Strong 21.1% YoY increase in traffic

Corporación América Airports S.A. (NYSE: CAAP) reported a 9.5% year-over-year (YoY) decrease in total passenger traffic for May 2024. Excluding Natal Airport, the decline was 7.2% YoY. Domestic passenger traffic fell by 20.8% YoY, while international traffic grew by 8.3% YoY. Argentina and Brazil showed significant declines in domestic traffic, whereas Italy and Uruguay reported increases in international traffic. Cargo volume remained flat, with a 0.1% YoY decrease, while aircraft movements dropped by 10.8% YoY. Argentina, Italy, and Uruguay saw increases in cargo volume, although this was offset by declines in Brazil, Armenia, and Italy. Notably, the company stopped operating Natal Airport as of February 2024.

Corporación América Airports (NYSE: CAAP) reported its Q1 2024 financial results, highlighting a 12.4% YoY revenue increase to $391.7 million, driven by $36 million in aeronautical and $8.1 million in commercial revenues.

Passenger traffic grew 2.6% to 19 million, and cargo volume rose 3.3% to 87.9 thousand tons. Adjusted EBITDA ex-IFRIC12 increased 16.4% YoY to $163.2 million, with a margin of 41.7%.

Notably, CAAP achieved a net leverage ratio of 1.2x, a record low, and extended the concession agreement for Punta del Este airport by 10 years. The ICSID Arbitral Court awarded CAAP $91 million in connection with the Chinchero International Airport arbitration in Peru.

CEO Martín Eurnekian expressed optimism about further expansion in Armenia and Florence, despite challenges in Brazil and macroeconomic concerns in Argentina.

Corporación América Airports S.A. (CAAP) reported a 4.8% year-on-year decrease in passenger traffic for April 2024, to 6.05 million passengers. Excluding Natal airport, traffic declined by 2.2% YoY.

Domestic passenger traffic dropped 13.8%, significantly affected by Argentina and Ecuador. International traffic improved by 6.3%, thanks to increases in Argentina, Italy, Ecuador, and Uruguay. Cargo volume rose by 10.3%, with Argentina, Ecuador, and Brazil showing notable growth.

Aircraft movements fell by 7.1%, with Italy being the only country to report a rise (10.2%).

Despite challenges, international travel showed resilience, particularly in Italy and Argentina, driven by strong growth in international passenger traffic.