CAAP FY 2018 Earnings Report — Corporación América Airports S.A. Revenue & Financial Results | Market Cap Arena

Corporación América Airports S.A.CAAP

FY 2018 Earnings

Reported April 24, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.6B	—	-9.5%
Op. Income	$283M	—	$351M	—	-19.4%
Gross Margin	31.4%	—	34.1%	—	-2.7pp
Net Margin	0.5%	—	4.0%	—	-3.5pp
EPS (Diluted)	$0.04	—	$0.40	—	-90.0%
Free Cash Flow	$181M	—	-$61M	—	396.3%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$979M
GROSS PROFIT	$448M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$163M
Other Expenses	$2M
Operating Expenses	$165M
Cost & Expenses	$1.1B
OPERATING INCOME	$283M
Interest Income	$27M
Interest Expense	$107M
Other Income/Expenses	-$279M
INCOME BEFORE TAX	$4M
Income Tax Expense	$14M
Net Income from Continuing Ops	-$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$176M
EBIT	$283M
EBITDA	$459M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$979M
GROSS PROFIT	$448M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$163M
Other Expenses	$2M
Operating Expenses	$165M
Cost & Expenses	$1.1B
OPERATING INCOME	$283M
Interest Income	$27M
Interest Expense	$107M
Other Income/Expenses	-$279M
INCOME BEFORE TAX	$4M
Income Tax Expense	$14M
Net Income from Continuing Ops	-$11M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7M
D&A	$176M
EBIT	$283M
EBITDA	$459M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$7M
Depreciation & Amortization	$176M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$89M
Change in Working Capital	-$80M
OPERATING CASH FLOW	$192M
Capital Expenditure	-$11M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$48M
NET CASH FROM INVESTING	-$59M
Net Debt Issuance	-$323M
Common Stock Repurchased	$0
Common Dividends Paid	-$15M
Other Financing Activities	$257M
NET CASH FROM FINANCING	-$66M
FREE CASH FLOW	$181M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$245M
Short-Term Investments	$81M
Net Receivables	$133M
Inventory	$10M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$533M
PP&E (Net)	$74M
Goodwill	$57M
Intangible Assets	$2.9B
Long-Term Investments	$17M
Tax Assets	$153M
Other Non-Current Assets	$135M
TOTAL NON-CURRENT ASSETS	$3.3B
TOTAL ASSETS	$3.8B
Account Payables	$115M
Short-Term Debt	$99M
Deferred Revenue	$6M
Other Current Liabilities	$155M
TOTAL CURRENT LIABILITIES	$451M
Long-Term Debt	$1.0B
Deferred Revenue NC	$25M
Deferred Tax Liabilities	$271M
Other Non-Current Liabilities	$848M
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$2.6B
Common Stock	$160M
Additional Paid-In Capital	$180M
Retained Earnings	$394M
Treasury Stock	$0
Accum. Other Comp. Income	$34M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$768M
Minority Interest	$454M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$1.1B
Net Debt	$882M