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, led by Monterrey, San Luis Potosí, Durango, Chihuahua, and Zihuatanejo; domestic traffic rose 5.7% and international traffic declined 0.5%.

• Aeronautical and non-aeronautical revenues increased 4.1%–4.3% year-over-year, driven by domestic passenger growth, while international revenues declined due to peso appreciation.

• Adjusted EBITDA rose 2.1% to MXN 2.4 billion (Ps.2,421 million), with a margin of 73.4%.

• Net income was MXN 1.2 billion (Ps.1,239 million), down 4.1% year-over-year; operating income declined 1.4%.

• Capital investments and major maintenance reached MXN 605 million (Ps.605 million), up 20.5% year-over-year.

Financial highlights

• 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%, supported by retail, parking, lounges, and restaurants; commercial revenue per passenger was MXN 66.4.

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

• Cost of airport services and G&A rose 19.1%–20%, mainly due to maintenance, contracted services, and inflation.

• Adjusted EBITDA margin was 73.4%, down from 74.9% in 1Q25.

Outlook and guidance

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

• 19 new routes confirmed for the year, mostly opening in June, including new long-haul international flights; five domestic and two international routes launched in the quarter.

• 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.

• Commercial revenue per passenger expected to rise as Monterrey terminal expansion completes by 2028.