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Mexico City, Mexico - Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB; BMV:OMA), known as OMA, reported a 2.4% decrease in passenger traffic across its 13 airports in June 2024 compared to the same month last year. The Mexican airport operator noted a 4.6% reduction in domestic traffic and a 13.9% increase in international traffic.
The June figures were notably affected by Hurricane Otis, particularly at Acapulco Airport, which operated normally despite the event. Excluding Acapulco Airport, the other 12 airports saw a combined decrease of 1.3% in terminal passenger traffic. Commercial traffic constituted 99.5% of the total, while general aviation accounted for the remaining 0.5%.
OMA's management cautions that these forward-looking statements, while based on current expectations and projections, are subject to various risks and uncertainties that could materially affect future results. These factors are described in detail in the company's most recent annual report on Form 20-F under the section titled "Risk Factors."
OMA operates international airports in nine states of central and northern Mexico, including Monterrey, Mexico's third-largest metropolitan area, and popular tourist destinations such as Acapulco, Mazatlán, and Zihuatanejo. In addition to airport services, OMA also manages a hotel inside Mexico City's Terminal 2 and a Hilton Garden Inn at Monterrey airport. Employing over 1,200 individuals, OMA is committed to providing high-quality airport and commercial services.
In other recent news, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, addressed an inquiry from the Mexican Stock Exchange regarding an unusual surge in its trading volume. OMA clarified that it was not aware of any undisclosed events that might have triggered this activity. The company also stated that neither its Board of Directors nor relevant executive officers were involved in these trading movements.
Furthermore, OMA confirmed that its share repurchase program was not active during the time of the unusual trading volume. These developments are recent and have been communicated to reassure investors and the public about OMA's commitment to transparency.
InvestingPro Insights
In light of Grupo Aeroportuario del Centro Norte's recent performance, notable metrics from InvestingPro reveal several aspects of the company's financial health and market position. OMA's strong gross profit margin of 58.51% in the last twelve months as of Q1 2024 underscores its impressive ability to control costs relative to revenue. Additionally, the company's P/E ratio stands at a competitive 11.67, suggesting that its shares could be attractively priced given its earnings. With a robust revenue growth of 15.79% in the same period, OMA demonstrates its capability to expand its financial top line efficiently.
OMA's commitment to shareholder returns is evident through a significant dividend yield of 10.38%, a notable factor for income-focused investors. Moreover, two InvestingPro Tips highlight the company's market position: OMA is recognized as a prominent player in the Transportation Infrastructure industry and operates with a moderate level of debt, which may provide a balance of growth potential and financial stability.
For readers interested in a deeper analysis, there are additional InvestingPro Tips available, which provide further insight into OMA's financial nuances and market prospects. With the use of the exclusive coupon code PRONEWS24, investors can access these valuable tips and enjoy up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, enriching their investment strategy with expert guidance.
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