Welcome to our dedicated page for Corporacion Am news (Ticker: CAAP), a resource for investors and traders seeking the latest updates and insights on Corporacion Am stock.
Corporacion America Airports S.A. (NYSE: CAAP) is a global leader in the acquisition, development, and operation of airport concessions. Headquartered in Argentina, the company manages a diversified portfolio of airports across six countries, including Argentina, Italy, Brazil, Uruguay, Ecuador, and Armenia. Corporacion America Airports generates the majority of its revenue from its operations in Argentina, contributing significantly to its overall financial performance.
Corporacion America Airports categorizes its revenue streams into several segments:
- Aeronautical Revenue: Generated from fees charged to airlines for the use of airport facilities and services.
- Non-Aeronautical Revenue: Includes income from retail concessions, parking services, and real estate leases within airport premises.
- Commercial Revenue: Derived from various commercial activities, including duty-free shops, advertising, and food and beverage outlets.
- Construction Service Revenue: Earnings from construction services provided during the expansion and enhancement of airport infrastructure.
- Other Revenue: Comprises miscellaneous sources of income related to airport operations.
Corporacion America Airports continually invests in infrastructure projects to enhance the capacity and efficiency of its airports. Recent achievements include the expansion of terminal facilities, incorporation of advanced technology for smoother passenger processing, and improvements in security measures. The company's strategic partnerships with global firms enable it to offer top-tier services and maintain its competitive edge in the aviation industry.
Financially, Corporacion America Airports demonstrates robust performance with stable revenue growth and profitability. The company's focus on diversifying its revenue base through non-aeronautical ventures helps mitigate risks associated with fluctuations in air traffic. Investors looking for a comprehensive overview and the latest updates on Corporacion America Airports can access the most recent news and developments directly on StockTitan.
Corporación América Airports S.A. (NYSE: CAAP) reported a significant rebound in traffic for Q3 2021, achieving consolidated revenues of $186.9 million, a 91.5% year-over-year increase, although still 55.2% below pre-pandemic levels. Passenger traffic surged 309.9% YoY to 10.5 million. The company's Adjusted EBITDA stood at $38.9 million, a notable recovery from a $77.3 million loss in Q3 2020. Effective cost controls led to a 43% reduction in cash operating costs compared to Q3 2019, while debt refinancing improved liquidity. Overall, the outlook remains positive with expected traffic growth as restrictions ease.
Corporación América Airports S.A. (NYSE: CAAP) reported significant growth in passenger traffic in October 2021, achieving a 204.0% year-over-year increase and reaching 58.4% of October 2019 levels. Domestic and international passenger traffic rose 227.2% and 318.6% YoY, respectively. However, compared to 2019, overall passenger traffic declined 41.6%, with international passenger traffic down 57.5%. Cargo volume increased 31.5% YoY but decreased 21.4% compared to 2019. Aircraft movements doubled from the previous year but were down 29.7% from pre-pandemic levels.
Corporación América Airports S.A. (NYSE: CAAP) will release its Third Quarter results on Wednesday, November 17, after the market closes. Following the earnings release, a conference call is scheduled for Thursday, November 18, at 9:00 am ET. The company operates 52 airports across 7 countries in Latin America and Europe, having served 84.2 million passengers in 2019. Investors are encouraged to participate via phone or webcast.
Corporación América Airports S.A. (NYSE: CAAP) has announced an Amended Concession Agreement for Carrasco International Airport in Uruguay, extending its concession by 20 years until November 2053. The agreement includes six additional regional airports, expanding CAAP's network to eight in Uruguay. A capital investment program of US$67 million is set for deployment across these new airports by 2028. CEO Martín Eurnekian emphasized the strategic importance of this extension in promoting long-term growth in the region.
Corporación América Airports (NYSE: CAAP) announced that its subsidiary, Aeropuertos Argentina 2000, completed transactions enhancing liquidity and debt sustainability. In September 2021, the company issued a $30.5 million bond at 4% interest, expanding from an initial $10 million. Recent transactions include issuing 8.5% Series 2021 Notes due 2031 and raising $126 million through two tranches. The company also refinanced loans, extending maturity to November 2024. Post-pandemic travel restrictions have been lifted, raising expectations for improved passenger traffic.
Corporación América Airports S.A. (NYSE: CAAP) reported a 227.8% year-over-year increase in passenger traffic for September 2021, totaling 3.723 million passengers. However, this reflects a 47.7% decline compared to September 2019, primarily due to ongoing impacts from the COVID-19 pandemic. Cargo volume increased 46.9% year-over-year but fell 13.1% from 2019 figures. Notably, domestic traffic saw less decline, while international traffic dropped significantly, particularly in Argentina.
Corporación América Airports S.A. (NYSE: CAAP) reported a significant 320.4% year-over-year increase in passenger traffic for August 2021, though it still reflects a 52.8% decline compared to August 2019. Domestic passengers grew to 2,142, up 408.6% YoY, while international passengers rose to 987, up 256.8% YoY. Cargo volume increased by 46.6% YoY but decreased by 20.5% compared to 2019. Total aircraft movements surged 137.6% YoY, though also saw a 37.5% decline versus 2019. The results indicate recovery from COVID-19 effects but highlight ongoing challenges in comparison to pre-pandemic levels.
Corporación América Airports (CAAP) reported its 2Q21 results, revealing a 65.6% revenue increase to $135.3 million YoY, although still 67.2% below 2Q19 levels. Passenger traffic surged 1,123.3% YoY to 5.5 million but dropped 72.8% compared to 2019. Operating loss improved to $27.2 million from a loss of $76.1 million in 2Q20. Adjusted EBITDA reached $7.7 million, a significant recovery from the prior year. Mitigation efforts included renegotiating $40 million in debt payments to preserve cash flow. Despite strides in recovery, ongoing government restrictions particularly in Argentina remain challenging.
Copración América Airports S.A. (CAAP) reported a 459.3% year-over-year increase in passenger traffic for July 2021, although this reflects a 60.4% decline compared to July 2019. Domestic passengers rose by 558.2% YoY, while international passengers increased 357.3% YoY. Year-to-date total passengers decreased by 16.5% from 2020. Cargo volume grew by 66.4% YoY but fell 22.1% compared to 2019. Aircraft movements increased 165.7% YoY but were down 42.1% from 2019. Overall, the results indicate recovery from COVID-19, though significant declines remain relative to pre-pandemic levels.
Corporación América Airports S.A. (NYSE: CAAP) announced its upcoming Second Quarter earnings report scheduled for August 18, 2021, after market closes. This will be followed by a conference call on August 19, 2021, at 9:00 AM ET. The company operates 52 airports across 7 countries in Latin America and Europe, serving 84.2 million passengers in 2019. Investors can access the earnings call through a dedicated dial-in or webcast.