Corporacion America Airports S.a Stock Earnings Reports

Corporación América Airports reported a strong start to 2026 with broad-based traffic and revenue growth across its portfolio. Key operational highlights: passenger traffic rose 7% year-over-year (driven by a ~14% increase in international traffic), nearly 22 million passengers in the quarter, and cargo revenues up 16% (volumes +1.7%). Commercial revenue per passenger improved materially (+11% to $22.70). Financial performance: total revenues ex-IFRIC 12 increased 19%, adjusted EBITDA ex-IFRIC 12 rose 26% to $196 million with margins expanding ~2.3 percentage points. The company ended the quarter with strong liquidity ($772 million), net debt of $419 million and a low net leverage ratio of ~0.5x. Strategic and corporate developments: a 35-year concession extension in Armenia to 2067 with a $425 million investment program, Galapagos extension/economic rebalancing in Ecuador, ongoing discussions/awards in Baghdad and Luanda, and active evaluation of other tenders and M&A opportunities. Management noted resilience in Armenia despite regional geopolitical noise, limited near-term impact so far from higher fuel/oil prices, and continued operational discipline in Argentina despite local disruptions. The Board is actively discussing a dividend policy and will provide details to the market in the near term. Key risks flagged: potential geopolitical impacts (Middle East) on traffic and airline capacity, aviation sector operational constraints in some markets, and fare sensitivity in certain domestic markets.