Grupo Aeroportuario del Centro Norte S.A.B. de C.V.

Greetings. Welcome to the Grupo Aeroportuero del Centro Norte OMA first quarter 2024 earnings conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. I will now turn the conference over to your host, Emmanuel Camacho, of Investor Relations. You may begin.

Thank you, Shamali, and hello, everyone. Welcome to OMA's first quarter 2024 Airmeets Conference Call. We're delighted to have you join us today as we discuss our company's performance and financial results for the past quarter. Participating today are CEO Ricardo Duenas and CFO Rufo Perez-Guevara. We'd be reminded that certain statements made during the course of our discussion today may constitute forward-looking statements which are based on current management expectations and beliefs, not subject to a number of risks and uncertainties that could cause actual results to differ materially, including factors that may be beyond our control. And with that, I'll turn the call over to Ricardo Núñez for his opening remarks.

Thank you, Manuel. Good morning, everyone. We appreciate your presence in this call today. This morning, Rufo and I will review our quarterly operational financial results, and then we'll be pleased to answer your questions. In the first quarter, almost passenger traffic reached 5.9 million, a decrease of 1.5% versus the first quarter of last year. Excluding the Acapulco Airport, where hotel infrastructure continues to be affected by the impact of Hurricane Otis that hit in October 2023, terminal passenger traffic in our other 12 airports increased by an aggregate of 0.9% during the quarter. Excluding Acapulco, OMA experienced a decline in domestic traffic of 1.2% in the quarter, driven by lower domestic seat capacity, which declined by 9.1%. The main airports affected were Culiacan and Ciudad Juarez airports, notably on routes such as Culiacan to Tijuana and Ciudad Juarez to Mexico City. International passenger traffic recorded a strong performance. with a 10% increase compared to the first quarter of last year, driven by airlines expanding capacity and international routes. During the quarter, international seat capacity grew by 7.1%. This international growth was primarily led by the Monterey Airport, which saw a 14% rise in international passenger traffic. The routes with the highest increase from Monterey were to Atlanta, Toronto, Las Vegas, Bogota, and Dallas. These routes, along with San Luis Potosí to Houston and Cihuatanejo and Zacatecas to Dallas routes, contributed to approximately 80% of the international passenger traffic increase during the quarter. Furthermore, in the first quarter, we launched four new international routes, three of which were based at the Monterey Airport. In terms of airline participation, Viva y Robús represented 48% of our total traffic during the quarter. with a notable 16% increase in terminal passenger numbers compared to the first quarter of 23, while Volaris, which accounted for 20% of our total traffic, experienced a 24% decrease during the quarter, largely due to the Pratt & Whitney engine recall affecting their fleet. Moving on to MOVA's first quarter financial highlights. Aeronautical revenues increased 5.3%. and aeronautical revenue per passenger rose 7% in the quarter. Commercial revenues increased 12% as compared to the first quarter of last year, driven by car rentals, restaurants, and parking. The car rental and restaurant line item benefited from the opening and consolidation of new businesses units across our airports during the past quarters. Occupancy rate for commercial space stood at 95.3% at the end of the quarter. On the diversification front, revenues increased 21%. Hotel services contributed most to this growth, mainly as a result of an increase in operation in both hotels. In the first quarter, occupancy rate at our Terminal 2 NH was 89%, while the Hilton Garden Inn Hotel had an occupancy rate of 77%. HOMA cargo increased 2%, mainly as a result of an increase in revenue related to import cargo services. HOMA's first quarter adjusted EBITDA increased by 3% to 2 billion pesos, and the adjusted EBITDA margin was 74.6%. For comparative purposes with the first quarter of last year, we exclude the surplus of the concession tax over aeronautical revenues. resulting from the rate increase from 5% to 9% for this concept pursuant to the Mexican federal duties law, which amounted to $86.3 million and was recorded as a concession tax expense in the quarter, along with its impact on OMA's financial results. Our adjusted EBITDA would have been $2.127 million with a margin of 77.7%. On the capital expenditures front, total investments in the quarter, including MDP investment, major maintenance, and strategic investments were 1.1 billion pesos. During the quarter, some of the most relevant projects we are working on are the expansion and remodeling of the Monterey Airport Terminal A building, as well as the Juarez, Torreon, Culiacan, and Durango terminal buildings. Reconfiguration of the Mazatlán terminal building. major rehabilitation and reconfiguration of platform and taxiways in several airports, and construction of four industrial warehouses. Lastly, I want to mention that tomorrow we will hold our 2024 Annual Shareholders Meeting. Shareholders will vote on several matters, including the declaration and payment of a 4.25 billion peso cash dividend. We extend our sincere gratitude to our shareholders for their invaluable participation and unwavering commitment to our company. I would now like to turn the call over to Rufo Perez Pliego, who will discuss our financial highlights for the quarter.