CAAP Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, March 17, 2026 astatine 9:05 AM CDT 18 min read

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Tuesday, March 17, 2026 astatine 9 a.m. ET

• Chief Executive Officer — Martin Eurnekian

• Chief Financial Officer — Jorge Arruda

Martin Eurnekian: Thank you, Yaki, and bully greeting to everyone joining america today. We finished 2025 with a precise coagulated performance. Across the business, we saw continued gross momentum, beardown profitability, and important advancement connected the strategical front. Passenger postulation remained robust successful the 4th quarter, rising conscionable implicit 9% twelvemonth implicit twelvemonth and reaching caller heights for some the 4th and the afloat year, with Argentina, Armenia, Italy, and Uruguay mounting yearly postulation records. Equally important, this show was broad-based, with affirmative trends crossed our main markets, successful peculiar beardown planetary maturation successful Argentina. Revenue maturation erstwhile again outpaced traffic, supported by coagulated show successful some our aeronautical and commercialized businesses, on with further betterment successful gross per passenger.

Commercial revenues remained particularly strong, with bully contributions from cargo, fuel, and passenger-related services crossed the portfolio. This affirmative momentum besides translated into beardown profitability. We delivered beardown adjusted EBITDA maturation successful the 4th unneurotic with meaningful borderline expansion, arsenic operating leverage and commercialized execution continued to enactment results. At the aforesaid time, we ended the twelvemonth with a steadfast equilibrium sheet, debased leverage, and beardown liquidity, providing important fiscal capability. We besides made meaningful strategical progress. In Armenia, we secured a 35-year hold of the concession, and successful Galapagos, we obtained a six-year extension, some of which heighten the semipermanent visibility of our portfolio.

We besides person received concession awards and been declared preferred bidders connected 2 caller airdrome concessions, which I volition sermon shortly.

Moving connected to rider postulation connected Slide 4, we ended the twelvemonth with different 4th of coagulated maturation crossed our operations. Total rider postulation reached a grounds 22,300,000, supported by some home and planetary travel, with peculiarly beardown momentum successful the planetary segment. International postulation grew 12%, with each state successful our portfolio posting year-over-year growth. Argentina was erstwhile again the main contributor, accounting for much than fractional of the full summation successful postulation during the quarter, with coagulated contributions from Italy, Brazil, and Armenia. Domestic postulation accrued astir 7%, chiefly driven by Argentina and Brazil, with Ecuador besides contributing positively.