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

Ladies and gentlemen, greetings and welcome to the Grupo Aeroportuario del Centro Norte Omaha first quarter 2025 earnings conference call. At this time, all participants are in the listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star and zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Emmanuel Camacho, Investor Relations Officer. Please go ahead, sir.

Thank you, Enrico. Hello, everyone. Welcome to OMA's first quarter 2025 earnings 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. Joining us today are our CEO, Ricardo Reyes, and CFO, Rufo Perez-Priego. Please be reminded that certain statements made during the course of our discussion today may constitute forward-looking statements which are based on credit management expectations and beliefs and are 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 now I'll turn the call over to Ricardo Nunez for his opening remarks.

Thank you, Emmanuel. Good morning, everyone. We appreciate your presence on this call today. This morning, Rufo and I will review our quarterly operational financial results, and then we will be pleased to answer your questions. In the first quarter of this year, OHA's passenger traffic totaled 6.4 million passengers, a 9.1% increase year over year. This increase was mainly attributable to an increase in seat capacity of 13.4% during the quarter. On the domestic front, passenger traffic grew by 8%, driven primarily by the Monterey Airport, which saw increases on routes to Querétaro, the metropolitan area of Mexico City, including the Mexico City, IFA, and Toluca airports. Hermosillo, Ciudad Juárez, Guadalajara, and Culiacán. These routes collectively added over 285,000 passengers during the quarter, representing 72% of the total domestic passenger growth. International passenger traffic increased 15.1%. This growth was also driven by the Monterey Airport, with passenger traffic increases on routes to San Antonio, Chicago, Los Angeles, Orlando, San Francisco, Oakland, Miami, Austin, and Denver. These routes collectively added over 132,000 passengers during the quarter, accounting for 94% of the total international passenger increase in the first quarter. During the first quarter, we launched 16 new routes, five of which were international. In terms of airline participation, Viva de Luz represented 49% of our total traffic during the quarter, with an 11% increase in terminal passenger numbers compared to the first quarter of 24, while Volaris, which accounted for 22% of our total traffic, recorded a 20% passenger increase during the quarter. Moving on to NOMAS for quarter financial highlights. Aeronautical revenues increased 13.8%, with aeronautical revenue per passenger rising 4.3% in the quarter. Commercial revenues had a strong double-digit growth, with commercial revenue per passenger growing 13% to 66 pesos. As compared to the first quarter of 2024, driven by VIP lounges, restaurants, and retail, VIP lounges benefit from higher access rates and a larger number of users, as well as the effect of the previously opened lounges. The restaurant and retail line items benefited from the consolidation of new business units open across our airports during past quarters. Occupants' rate of commercial space stood at 96% at the end of the quarter. On the diversification front, revenues increased 22%. OMA Cargo contributed most to this growth, mainly as a result of an increase in revenue related to air cargo operations in Monterey. Revenue from industrial services increased 56.4% year-over-year, reaching 42 million pesos, primarily driven by a higher number of square meters leased in our industrial park. During the quarter, we completed construction of a warehouse measuring about 9,200 square meters, as well as 2,400 square meters expansion of an existing facility. Additionally, we are currently building a 5,000 square meters warehouse, which we expect to complete in the second quarter of this year. OMA's first quarter adjusted EBITDA increased by 16% to 2.4 billion pesos and an adjusted EBITDA margin of 74.9%. On the capital expenditure front, total investments in the quarter, including MDP investment, major maintenance, and strategic investments, were 502 million pesos. Lastly, I want to mention that last Friday we held our 2025 Annual Shareholders Meeting, where shareholders voted on several matters, including the declaration and payment of a 4.5 billion peso cash dividend. I would now like to turn the call over to Rufo Perez-Piego, who will discuss our financial highlights for the quarter.