- Master Development Program Investments for Next Five Years Total Ps. 2,745.2 Million
MONTERREY, Mexico, Dec. 29, 2010 (GLOBE NEWSWIRE) -- Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (Nasdaq:OMAB) (BMV:OMA), announced that it has received approval for its Master Development Program (MDP) and maximum rates for each of its airport concessionaires for the period 2011-2015 from the Ministry of Communications and Transportation (SCT), through the General Directorate for Civil Aviation (DGAC).
The Master Development Program (MDP) for each airport includes the investments that OMA is committed to make during the next five years in order to expand airport infrastructure in keeping with expected traffic growth, modernize facilities, and to maintain the airports in accordance with domestic and international operating, safety, and security standards.
The MDP investments for the 13 airports for the period 2011-15 total Ps. 2,745.2 million, in constant pesos of December 31, 2009. Investments to meet the standards of the concession agreement, maintenance, and operational safety represent 82.5% of the five-year total. An additional Ps. 404.3 million will be invested in airport security improvements, of which 70% will be carried out in the first two years. The new MDP also includes the creation of a land reserve for the Monterrey airport, in order to ensure the future growth capacity of this airport.
The following table summarizes, in millions of pesos, the MDP investments by airport for the next five years.
Investments included in the MDP are expected to be recovered through revenues generated from aeronautical services. OMA's revenues from aeronautical services are subject to a price regulation system established in the concession agreements with the SCT. This price regulation system establishes a "maximum rate" for each airport for each year in a five-year period. The maximum rate is the maximum amount of revenues per workload unit (one terminal passenger or 100 kg of cargo) that may be earned at an airport each year from regulated revenue sources. The maximum rate is calculated based on the 2011-15 MDP projections as approved (capital expenditures and operating costs and expenses), as well as other parameters including the reference value, discount rate, efficiency factor, and expected workload units.
The new maximum rates for OMA's airports are shown in the following table, and are expressed in constant pesos of December 31, 2009. The maximum rate for each succeeding year through 2015 will be reduced by the efficiency factor of 0.7%, measured in inflation-adjusted terms.
This press release may contain forward-looking information and statements. Forward-looking statements are statements that are not historical facts. These statements are only predictions based on our current expectations and projections about future events. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "target," or similar expressions. While OMA's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and are generally beyond the control of OMA, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to, those discussed in our most recent annual report filed on Form 20-F under the caption "Risk Factors." OMA undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise.
About OMA
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, operates 13 international airports in nine states of central and northern Mexico. OMA's airports serve Monterrey, Mexico's third largest metropolitan area, the tourist destinations of Acapulco, Mazatlan, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates a hotel and commercial areas inside Terminal 2 of the Mexico City airport. OMA employs over 1,000 persons in order to offer passengers and clients, airport and commercial services in facilities that comply with all applicable international safety, security standards, and ISO 9001:2008. OMA's strategic shareholder members are ICA, Mexico's largest engineering, procurement, and construction company, and Aeroports de Paris Management, subsidiary of Aeroports de Paris, the second largest European airports operator. OMA is listed on the Mexican Stock Exchange (OMA) and on the NASDAQ Global Select Market (OMAB). For more information, please visit us at:
CONTACT: Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Jose Luis Guerrero Cortes, CFO +52.81.8625.4300 ext.308 [email protected] Zemi Communications Daniel Wilson +1.212.689.9560 [email protected]
