Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB; BMV:OMA), commonly known as OMA, announced the publication of its 2023 Sustainability Report and its third Green Bond Report on Monday. The Mexico-based operator of 13 international airports across central and northern Mexico has outlined its environmental and sustainability achievements for the previous year.
The 2023 Sustainability Report was prepared under GRI Standards and considered SASB aspects. It provides an in-depth look at OMA's progress and details the various activities and initiatives undertaken during 2023. The report is publicly available for download from OMA's investor relations website.
In tandem with the Sustainability Report, OMA has also released its third Green Bond Report in line with its Green Bond Framework. The report details the allocation of proceeds and the environmental impact of projects funded by the Green Bond issued in 2021. This document is accessible for download on the company's debt profile webpage.
OMA's portfolio includes airports that serve significant metropolitan areas like Monterrey, tourist destinations such as Acapulco, Mazatlán, and Zihuatanejo, as well as other regional and border cities. The company also manages hospitality services, including the NH Collection Hotel in Mexico City's Terminal 2 and the Hilton Garden Inn at Monterrey airport. OMA employs over 1,200 individuals to provide airport and commercial services.
The release of these reports is part of OMA's ongoing efforts to maintain transparency and accountability in its sustainability endeavors.
This announcement is based on a press release statement.
In other recent news, Grupo Aeroportuario del Centro Norte (OMA) disclosed a mixed performance in its second-quarter earnings for 2024. The company reported a 2.4% decrease in total passenger traffic, largely due to a 4.3% decline in domestic traffic, attributed to the Pratt & Whitney engine recall.
However, international traffic increased by 12%, and non-aeronautical revenues grew by 13.8%, with commercial revenues up by 12%. OMA also reported an adjusted EBITDA of MXN 2.2 billion and a cash position of MXN 1.6 billion.
A significant infrastructure milestone was achieved with the inauguration of the Terminal A East expansion at Monterrey Airport. OMA anticipates a low-single-digit decline in traffic for the second half of the year but expects non-aeronautical revenue per passenger to rise with inflation. The company is also expanding warehousing and industrial park facilities to benefit from near-shoring activities.
These are among the recent developments at OMA.
InvestingPro Insights
In light of Grupo Aeroportuario del Centro Norte's (OMA) recent sustainability report, a glance at the company's financial health and market performance through InvestingPro data may offer additional context for investors. OMA boasts impressive gross profit margins, with data showing a gross profit of 552.34M USD and a high gross profit margin of 67.95% for the last twelve months as of Q2 2024. Despite some volatility in quarterly revenue growth, the company has managed an 8.93% revenue growth over the last twelve months, underscoring its resilience.
InvestingPro Tips highlight OMA's position as a prominent player in the Transportation Infrastructure industry, with a market capitalization of 3260M USD and a P/E ratio of 12.03, which is considered low, indicating the stock might be undervalued relative to its earnings. Additionally, the company has been profitable over the last twelve months, and analysts predict it will remain profitable this year. Moreover, OMA pays a significant dividend to shareholders, with a notable dividend yield of 10.36% as of the last dividend date.
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