Corporación América Airports Investor Presentation
Disclaimer This presentation has been prepared and issued by Corporación América Airports S.A. (“CAAP”, “ Corporación América Airports” or the “Company”) solely for your information. By attending the meeting and viewing this presentation, you agree to be bound by the following limitations. For the avoidance of doubt, references to the Company shall be deemed to include any successor thereto. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any common shares or any other securities of the Company, nor shall it or any part of it, nor the fact of its distribution, form part of or be relied on in connection with any contract or investment decision relating thereto. This presentation does not constitute a recommendation regarding the securities of the Company. This document and its contents are confidential and may not be further copied, distributed or passed on, directly or indirectly, to any other person or published or reproduced directly or indirectly, in whole or in part, by any medium or in any form for any purpose. Neither this document nor any part or copy of it may be taken or transmitted into or distributed in or into, directly or indirectly, the United States, its territories or possessions or Canada. Any failure to comply with these restrictions may constitute a violation of US or Canadian securities laws, respectively. The distribution of this document in jurisdictions other than U.S. or Canada may also be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This document is not an offer of securities for sale in the United States or elsewhere. The Company’s common shares have not been registered under the United States Securities Act of 1933 (the “Securities Act”) and may not be offered or sold in the United States unless they are registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The information in this presentation has not been legally verified by the Company, its advisers or any other person and may be subject to updating, completion, revision and amendment and such information may change materially. This presentation speaks at the date hereof. No representation or warranty, express or implied, is or will be made by or on behalf of the Company, its advisers or any of their respective directors, officers or employees, or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and any reliance you place on them will be at your sole risk. In particular the market data has been obtained by the Company from third party sources. Whilst the Company has compiled and extracted the market data, it can provide no assurances of the accuracy and completeness of such information and take no responsibility for such data. The Company is under no obligation to update or keep current the information contained in this presentation and any opinions expressed in it are subject to change without notice. None of the Company, its advisers or any of their respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. Statements, beliefs and opinions contained in this presentation, particularly those regarding the possible or assumed future or other performance of the Company, industry growth or other trend projections, are or may be forward looking statements, beliefs or opinions and reflect the Company’s current expectations and projections about future events and are subject to risks and uncertainties that may cause actual results to differ materially. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. These risks and uncertainties include, among other factors, changing business or other market conditions and the prospects for growth anticipated by the management of the Company. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. As a result, there can be no assurance that projected results or developments will be attained and you are cautioned not to place undue reliance on such forward-looking statements. The Company, its advisers and each of their respective directors, officers and employees disclaim any obligation to update the Company's view of such risks and uncertainties or to publicly announce the result of any revision to the forward-looking statements made herein, except where it would be required to do so under applicable law. By attending the presentation to which this document relates you will be taken to have represented, warranted and undertaken that: (i) you have read and agree to comply with the contents of this notice, including, without limitation, the obligation to keep this presentation and its contents confidential and (ii) you will not at any time have any discussion, correspondence or contact concerning the information in this presentation with any of the directors or employees of the Company or its subsidiaries nor with any of its suppliers, customers or partners without the prior written consent of the Company.
Ownership and Corporate Structure Southern Cone Foundation (Liechtenstein) … 17.8% A.C.I. Airports S.à r.l. Public Shareholders (Luxembourg) Corporación América Airports S.A. (Luxembourg) (1) Airport Operating Companies Argentina Italy Uruguay Armenia Ecuador Peru Brazil 81.3% 50.0% 81.3% 46.7% (2) 51.0% 100.0% 100.0% 50.0% 1 Airport 35 Airports 1 Airport 2 Airports 1 Airport 2 Airports 5 Airports 81.1% 99.9% 100.0% 99.9% 1 Airport 1 Airport 1 Airport 1 Airport 74.1% 1 Airport Source: Company information. 1. CAAP ownership through intermediate sub-holding companies. 2. CAAP has control over TA, with indirect ownership of 46.7% (CAAP holds 75% of Corporación América Italia, which in turn has a 62% ownership of TA)
Corporación América Airports At-a-Glance Scalable, Diverse and Adaptable Global Platform Passenger Growth Overview (mm) Breakdown by Country (2019) 99.6 99.0 98.5 97.9 96.8 97.4 96.3 95.7 95.2 94.6 94.1 93.5 93.0 92.4 • Largest private airport operator in the world by 91.9 91.3 90.8 90.2 84.2 4% 89.7 81.3 88.6 89.1 87.5 88.0 86.9 4% 86.4 85.8 85.3 84.7 84.2 83.6 76.6 83.1 82.5 82.0 80.9 81.4 80.3 5% 79.2 79.8 78.7 78.1 71.0 71.8 77.6 77.0 76.5 75.4 75.9 74.3 74.8 73.7 72.6 73.2 72.1 71.5 3% 71.0 70.4 69.9 69.3 68.8 68.2 67.7 67.1 66.0 66.6 65.5 64.9 64.4 63.8 63.3 62.2 62.7 number of airports (1) 61.1 61.6 60.5 60.0 59.4 58.9 58.3 57.8 57.2 56.7 56.1 55.6 55.0 54.5 53.9 52.8 53.4 52.3 51.7 51.2 50.6 50.1 49.5 49.0 48.4 47.9 47.3 51% 46.8 46.2 45.7 45.1 44.6 43.5 44.0 23% 42.9 42.4 41.8 41.3 40.7 40.2 39.6 38.5 39.1 38.0 36.9 37.4 35.8 36.3 35.2 34.7 34.1 33.6 33.0 32.5 31.9 31.4 30.3 30.8 • Diversified airport portfolio with presence across 29.7 29.2 28.6 28.1 20.6 27.5 27.0 26.4 25.3 25.9 17.1 24.8 24.2 23.7 22.6 23.1 22.0 21.5 20.9 19.8 20.4 19.3 18.7 18.2 17.6 17.1 16.5 16.0 15.4 14.9 14.3 13.2 13.8 12.1 12.7 11.6 10% 11.0 10.5 9.9 9.4 8.8 7.7 8.3 7.2 6.6 5.5 6.1 5.0 3.9 4.4 2.8 3.3 2.2 1.1 1.7 0.6 '- 7 countries 2015 2016 2017 2018 2019 Mar-19Mar-20 • ~20 year history with strong track record Revenue Evolution (ex-IAS 29) (2)(3) Breakdown by Country • Well positioned to continue global expansion (US$mm) ( 2019) 2,000 1,575 1,584 1,538 strategy 8% 1,500 1,366 7% 1,187 • Deep operating and M&A know-how, driving a 8% 1,000 7% 375 61% 500 successful business model 307 9% - 2015 2016 2017 2018 2019 Mar-19Mar-20 Note: Aeronautical Rev. Commercial Rev. 1. Largest private airport operator in terms of number of airports (52). Based on companies’ information, companies’ filings and websites as of December 31, 2019. Private airport operator stands for those Construction Serv. Rev. Other Rev. companies which have private investors as main shareholders. 2. ECOGAL (Ecuador) and Aeropuertos Andinos del Peru (“AAP”, Peru) are shown as investments in associates for purposes of the Company’s financial results. Argentina Italy Brazil Uruguay Ecuador Armenia 3. Excluding hyperinflation accounting in Argentina (“IAS29”). See earnings report for further information.
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