Corporación América Airports Earnings Call Transcripts
Fiscal Year 2025
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Record passenger traffic and revenue growth in 2025, with strong profitability and margin expansion. Liquidity and leverage improved, while new concessions and industry awards highlight strategic progress. Geopolitical risks in Armenia and the Middle East are being closely monitored.
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Passenger traffic rose over 9% and revenue grew 17% year-over-year, with record adjusted EBITDA and margin expansion. Strong results across Argentina, Italy, Brazil, and Armenia, while liquidity and leverage improved. Positive traffic trends are expected to continue, though at a more moderate pace in Argentina.
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Passenger traffic and revenues saw double-digit year-over-year growth, with record volumes in Argentina, Italy, Uruguay, and Armenia. Adjusted EBITDA rose 23%, margins expanded, and liquidity improved, while the company advanced key projects and M&A initiatives.
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First quarter 2025 saw robust passenger and cargo growth, with revenues and adjusted EBITDA rising year-over-year, led by Argentina and Italy. Liquidity and leverage remain strong, while expansion and M&A opportunities are actively pursued across multiple regions.
Fiscal Year 2024
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Passenger traffic reached nearly 80 million in 2024, with strong international growth offsetting softness in Argentina. Adjusted EBITDA declined 6.7% year-over-year, but liquidity and leverage improved, supporting ongoing expansion and strategic initiatives.
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Geographic diversification offset Argentina's macro-driven weakness, with strong international traffic and growth in Uruguay, Italy, and Brazil. Adjusted EBITDA fell 16% year-over-year, but liquidity and leverage improved, and tariff hikes in Argentina are expected to support future results.
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Revenue per passenger grew 9% year-on-year, offsetting a mid-single-digit decline in traffic, while adjusted EBITDA fell 9% due to Argentina's macro challenges. Strong cash flow and a record-low leverage ratio support ongoing CapEx and expansion plans.