The following is a summary of the Corporación América Airports S.A. (CAAP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Corporación América Airports S.A. reported a positive Q1 2024 with values in low double figures, meeting forecasted passenger traffic growth.

• Revenue per passenger hit a record high of $20.6.

• The Adjusted EBITDA rose by 16% year-on-year to reach $163 million.

• The margin expanded 1.5 percentage points, demonstrating operational leverage.

• The company reported an all-time low leverage ratio in line with their commitment to financial strength.

Business Progress:

• The company extended their Punta del Este concession agreement term from 2023 to 2043, further asserting their market position.

• A year-on-year passenger traffic growth of 4.3% was noted, predominantly fuelled by international passengers.

• An observed recovery in cargo volumes with low single-digit growth reaffirms their expanding operational breadth.

• Future plans involve further expansion of the airport network, project assessment across different regions, and diligent monitoring of the macro and political environment in Argentina.

More details: Corporacion America Airports IR

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