Grupo Aeroportuario del Centro Norte (OMAB) Q3 2025 earnings summary

Executive summary

• Passenger traffic reached 7.6 million in 3Q25, up 7.7–8% year-over-year, with Monterrey, San Luis Potosí, Chihuahua, Zihuatanejo, and Zacatecas leading growth.

• Served 28.3 million passengers in the last twelve months as of September 2025, operating 13 airports, 2 hotels, 3 bonded warehouses, and 1 industrial park.

• Listed on BMV and Nasdaq, with a market cap of Ps. 80.7 billion ($4.4 billion) as of September 30, 2025.

• Recognized for strong corporate governance, ESG initiatives, and multiple certifications and awards.

• Commercial space occupancy rate was 95.5–96% at quarter-end.

Financial highlights

• Aeronautical revenues increased 10.6% year-over-year; non-aeronautical revenues rose 7.3%.

• Total revenues grew 9.8% to MXN 3.5 billion in 3Q25, with adjusted EBITDA up 9% to MXN 2.7 billion and a margin of 74.8%.

• Net income was MXN 1.5 billion, up 9.1% year-over-year; EPS rose 9.2% to Ps.3.90.

• Commercial revenue per passenger was MXN 60; commercial revenues grew 7%, driven by parking, restaurants, VIP lounges, and retail.

• Cash and equivalents at quarter-end were Ps.4,445 million, up 85.4% year-over-year.

Outlook and guidance

• Full-year 2025 passenger traffic expected to grow 7–8%; 2026 growth forecast in low to mid-single digits.

• Commercial revenue per passenger expected to gradually increase in line with inflation.

• Committed to net zero Scope 1 & 2 emissions by 2050, with 2024 emissions already 91% below 2018 baseline.

• Ongoing major investments under the 2021-2025 Master Development Program, with Ps. 16,046 million committed.

• Excess concession taxes paid in 2025 will be recoverable through tariff adjustments starting January 2026.