Corporacion Am - CAAP STOCK NEWS

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.

Corporación América Airports (CAAP) announced significant developments in Uruguay.

At Carrasco International Airport, CAAP's subsidiary Puerta del Sur (PdS) will invest $5.5 million to expand cargo activities, including a new Instrument Landing System (ILS) to enhance connectivity and safety. A tariff adjustment will apply.

At Punta del Este Airport, the concession term has been extended by ten years to 2043, and CAAP will invest $3 million between 2024-2026. These projects are part of CAAP's strategy to develop Uruguay's aeronautical industry and improve travel experiences for 2 million annual passengers.

Corporación América Airports (NYSE: CAAP), a leading global private airport operator, will announce its First Quarter 2024 financial results on May 22, 2024, after the market closes. A conference call to discuss these results is scheduled for May 23, 2024, at 10:00 am ET. Key executives, including CEO Martín Eurnekian, CFO Jorge Arruda, and Head of Investor Relations Patricio Iñaki Esnaola, will participate. Investors can join via a toll-free number (1-800-549-8228) in North America or an international number (1-289-819-1520). Playback will be available through specified contact details.

Corporación América Airports S.A. (NYSE: CAAP) announced a recent development regarding an arbitration procedure against the Government of Peru related to the termination of a concession agreement for the new Chinchero International Airport. The ICSID Arbitral Court awarded damages of US$91,205,056 to Kuntur Wasi, in which CAAP holds 50% of the shares. The company will continue to provide updates on the matter.

Corporación América Airports S.A. reported a 0.8% YoY increase in passenger traffic in March 2024, reaching 92.4% of March 2019 levels. Excluding Natal, total traffic increased by 4.0% YoY. International passenger traffic grew by 12.9% YoY, surpassing pre-pandemic levels by 4.7%. Cargo volume decreased by 6.3% YoY. Aircraft movements decreased by 3.9% YoY. Positive aspects include international passenger traffic growth and recovery in various countries. Negative aspects include declines in domestic traffic and cargo volume.

Corporación América Airports S.A. (CAAP) files its annual report on Form 20-F for the fiscal year 2023 with the SEC, showcasing its financial performance and operational highlights.