Business Context and Reporting Period
This Form 6-K is filed by Corporación América Airports S.A. (CAAP) for the month of November 2018. The filing serves to distribute financial information regarding its Argentine subsidiary, Aeropuertos Argentina 2000 S.A. ("AA2000"), to holders of CAAP's common shares. The document contains free English translations of AA2000's condensed consolidated and individual interim financial statements for the nine months ended September 30, 2018.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document acts as a cover sheet referencing attached exhibits (99.1 and 99.2) which contain the actual financial statements. The statements are prepared in Argentine pesos in accordance with the accounting framework of the Comision Nacional de Valores (CNV), which is based on IFRS but excludes International Accounting Standard 29 (Financial Reporting in Hyperinflationary Economies).
Material Changes and Comparability
The filing explicitly states that the AA2000 Financial Statements are for informational purposes only and are not comparable to the Argentine segment information included in CAAP's consolidated financial statements. Material differences include:
- AA2000's specific transition date to IFRS.
- Differences in reporting currency.
- The application (or exclusion) of IAS 29 regarding hyperinflationary economies.
Consequently, these statements should not be construed as an indication of how the Argentina segment will be presented in CAAP's annual Form 20-F.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the disclosure of accounting differences. The primary contingency noted is the regulatory requirement for AA2000 to file reports in Spanish with the CNV in Argentina due to its debt securities being subject to the public offering regime there. The financial statements were reviewed in accordance with International Standards on Auditing.
Investor Verification Checklist
- Verify the actual financial figures by reviewing Exhibits 99.1 and 99.2, as this summary text contains no numerical data.
- Confirm the impact of excluding IAS 29 on the valuation of assets and liabilities given Argentina's economic environment.
- Compare the AA2000 standalone results with the consolidated Argentine segment data in CAAP's Form 20-F to understand consolidation adjustments.
- Check the CNV website (http://www.cnv.gob.ar) for the original Spanish filings to ensure translation accuracy.