Grupo Aeroportuario del Centro Norte
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Grupo Aeroportuario del Centro Norte (OMAB) investor relations material

Grupo Aeroportuario del Centro Norte Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary24 Feb, 2026

Executive summary

  • Approved a new 5-year Master Development Program (MDP) for 2026–2030, committing MXN 16 billion (Ps.16,005 million) in investments focused on capacity, quality, and sustainability at major airports.

  • Passenger traffic rose 8.5% year-over-year to 28.8 million in 2025, with seat capacity up 11% and 35 new routes launched, supporting robust passenger growth.

  • Monterrey Airport expanded its international reach, consolidating long-haul routes to Europe and Asia, and led passenger growth alongside Chihuahua and San Luis Potosí.

  • Adjusted EBITDA for 2025 increased 12.1% to MXN 10.2 billion (Ps.10,167 million) with a 74.5% margin; net income for 2025 was Ps.5,365 million, up 8.7%.

  • Dividend distribution in 2025 was Ps.11.54 per share.

Financial highlights

  • Total passenger traffic in 2025 reached 28.8 million, up 8.5% year-over-year; domestic traffic grew 8% (7.9%), international 12% (11.9%).

  • Aeronautical and non-aeronautical revenues each grew ~12% year-over-year; full-year revenues up 11.8%.

  • Adjusted EBITDA margin for 2025 was 74.5%; 4Q25 margin was 73.6%.

  • Q4 2025 passenger traffic was 7.5 million (+6% YoY); aeronautical revenues up 6%, commercial revenues up 8%, and Adjusted EBITDA up 6% to MXN 2.6 billion (margin 73.6%).

  • Cash and equivalents at year-end 2025 totaled MXN 3.1 billion (Ps.3,098 million), up 87%.

Outlook and guidance

  • Expect low to mid-single digit passenger traffic growth for 2026.

  • Major maintenance provision for 2026 anticipated at MXN 400 million; updated MDP increased liability to Ps.2,673 million.

  • Commercial revenue per passenger expected to remain stable in 2026; diversification revenues to be driven by double-digit growth in cargo.

  • Tariff increases of 6.9% in real terms to be implemented from April 2026, aiming to reach 93% of maximum tariff by year-end.

  • Excess concession taxes paid in 2024–2025 to be recovered through maximum tariff starting January 2026.

Quantify 2026 tariff recovery from excess tax
Why did major maintenance provision increase 455%?
What drove commercial revenue growth?
Detail MDP's capital efficiency drivers
Monterrey commercial area impact on pax spend?
Explain major maintenance provision increase
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Next Grupo Aeroportuario del Centro Norte earnings date

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Q1 202628 Apr, 2026
Grupo Aeroportuario del Centro Norte
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Next Grupo Aeroportuario del Centro Norte earnings date

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Q1 202628 Apr, 2026

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Frequently asked questions

Grupo Aeroportuario del Centro Norte S.A.B. de C.V. operates and manages airports across the central and northern regions of Mexico. The company is responsible for the development, maintenance, and operation of airport facilities, providing services that include passenger and cargo handling, airport security, and infrastructure management. It caters to airlines, passengers, and businesses involved in air travel, logistics, and transportation services. The company also generates revenue through commercial activities within its airports, such as retail, dining, and advertising spaces. The company is headquartered in San Pedro Garza García, Mexico, and its shares are listed on the NASDAQ.

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