Business Context and Reporting Period
Company: Central North Airport Group (Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.), trading as OMA (NASDAQ: OMAB; BMV: OMA).
Reporting Period: Monthly traffic data for June 2019 and Year-to-Date (January through June) 2019.
Business Overview: OMA operates 13 international airports across nine states in central and northern Mexico, serving major metropolitan areas, tourist destinations, and border cities. The company also operates hotel facilities at Mexico City and Monterrey airports.
Key Financial and Operational Metrics
Note: This filing reports operational passenger traffic metrics. It does not contain financial statements regarding revenue, profit, cash flow, margins, debt, or liquidity.
| Metric | June 2018 | June 2019 | Change % | Jan-Jun 2018 | Jan-Jun 2019 | Change % |
|---|---|---|---|---|---|---|
| Total Terminal Passengers | 1,811,810 | 2,026,728 | 11.9% | 10,285,760 | 11,071,584 | 7.6% |
| Domestic Traffic | 1,619,220 | 1,802,071 | 11.3% | 8,965,044 | 9,676,827 | 7.9% |
| International Traffic | 192,590 | 224,657 | 16.7% | 1,320,716 | 1,394,757 | 5.6% |
Traffic Composition: 99.4% of total traffic was commercial; 0.6% was general aviation.
Material Changes and Operational Highlights
- Top Growth Drivers (June 2019):
- Ciudad Juárez: +20.7% total traffic (driven by Mexico City route).
- Chihuahua: +15.5% total traffic (driven by Mexico City route).
- Monterrey: +9.1% total traffic (driven by Cancún, Guadalajara, Mexico City, and Tijuana routes).
- Acapulco: +37.8% total traffic (driven by Mexico City and Guadalajara routes).
- New Route Initiatives (June 2019):
- Volaris: Launched Chihuahua–Querétaro, Durango–Guadalajara, and Durango–Mexico City.
- VivaAerobus: Launched Mazatlán–Tijuana and Monterrey–Las Vegas.
- American Airlines & Volaris: Both launched Durango–Dallas routes.
- Declines: San Luis Potosí saw a slight decrease in domestic traffic (-2.5% in June, -4.2% YTD), and Tampico saw a slight decrease in total traffic (-2.0% in June).
Guidance, Outlook, and Risks
Management Commentary: Management attributes growth to increased traffic on specific domestic and international routes and the introduction of new airline services. International traffic growth was led by Monterrey (+18.5%) due to the Houston route.
Risks and Uncertainties: The filing includes a standard disclaimer regarding forward-looking statements. Actual results may differ materially due to risks discussed in the most recent Form 20-F, including factors beyond OMA's control. The company undertakes no obligation to update these statements.
Financial Guidance: The filing text does not provide specific financial guidance, revenue forecasts, or earnings outlooks.
Investor Verification Checklist
- Verify the correlation between the reported 11.9% passenger growth in June 2019 and the company's quarterly revenue performance in the subsequent earnings release.
- Confirm the sustainability of the new routes launched by Volaris, VivaAerobus, and American Airlines in June 2019.
- Review the most recent Form 20-F for detailed risk factors regarding the Mexican aviation market and economic conditions.
- Monitor the performance of the Monterrey airport, which accounts for the largest volume of traffic, to ensure continued growth on key routes like Houston and Cancún.