Grupo Aeroportuario del Centro Norte (OMAB) Q1 2026 earnings summary

Executive summary

• Passenger traffic reached 6.7 million in 1Q 2026, up 4.7% year-over-year, with Monterrey, San Luis Potosí, Durango, Chihuahua, and Zihuatanejo leading growth; domestic traffic rose 5.7% and international traffic declined 0.5%.

• Served 28.9 million passengers in the last twelve months as of April 2026, operating 13 airports, 2 hotels, 3 bonded warehouses, and 1 industrial park.

• Aeronautical and non-aeronautical revenues increased 4.1% year-over-year; adjusted EBITDA rose 2.1% to MXN 2.4 billion, with a margin of 73.4%.

• Net income was MXN 1.2 billion, down 4.1% year-over-year; operating income declined 1.4%.

• Listed on BMV and Nasdaq, with a market cap of Ps. 89.5 billion ($5.1 billion) as of March 31, 2026.

Financial highlights

• Aeronautical revenues increased 4.3% versus 1Q 2025; non-aeronautical revenues up 3.8%.

• Total revenues increased 6.9% year-over-year to Ps.3,816 million, driven by a 28.9% rise in construction revenues.

• Commercial revenues grew 4.9%, with parking up 8.5%, retail up 8.9%, restaurants up 5.0%, and lounges up 8.1%.

• Diversification revenues decreased 1.1%, with hotel services down 7.8% and OMA Cargo up 8%.

• Cost of airport services and G&A rose 20%, mainly due to maintenance, contracted services, and inflation.

Outlook and guidance

• Expect low to mid-single-digit passenger traffic growth for 2026, with domestic outperforming international.

• Master Development Program 2026-2030 commits Ps. 16,671 million in investments, focusing on capacity, quality, and environmental projects.

• 19 new routes confirmed for the year, mostly opening in June, including new long-haul international flights.

• Maximum tariff compliance expected to reach 95% by year-end, up from 91%-92% in 1Q.

• No further tariff increases planned for 2026; next adjustment expected in 2027.