CAAP FY 2019 Earnings Report — Corporación América Airports S.A. Revenue & Financial Results | Market Cap Arena

Corporación América Airports S.A.CAAP

FY 2019 Earnings

Reported April 8, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.4B	—	9.3%
Op. Income	$252M	—	$283M	—	-10.9%
Gross Margin	26.5%	—	31.4%	—	-4.9pp
Net Margin	0.6%	—	0.5%	—	0.1pp
EPS (Diluted)	$-0.04	—	$0.04	—	-191.0%
Free Cash Flow	-$40M	—	$181M	—	-122.2%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$412M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$158M
Other Expenses	$2M
Operating Expenses	$161M
Cost & Expenses	$1.3B
OPERATING INCOME	$252M
Interest Income	$31M
Interest Expense	$102M
Other Income/Expenses	-$241M
INCOME BEFORE TAX	$11M
Income Tax Expense	$17M
Net Income from Continuing Ops	-$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9M
D&A	$182M
EBIT	$252M
EBITDA	$434M
EPS	$0
EPS Diluted	-$0

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$412M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$158M
Other Expenses	$2M
Operating Expenses	$161M
Cost & Expenses	$1.3B
OPERATING INCOME	$252M
Interest Income	$31M
Interest Expense	$102M
Other Income/Expenses	-$241M
INCOME BEFORE TAX	$11M
Income Tax Expense	$17M
Net Income from Continuing Ops	-$6M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$9M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$9M
D&A	$182M
EBIT	$252M
EBITDA	$434M
EPS	$0
EPS Diluted	-$0

Cash Flow Statement

Item	Amount
Net Income	$9M
Depreciation & Amortization	$182M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$61M
Change in Working Capital	-$153M
OPERATING CASH FLOW	-$23M
Capital Expenditure	-$17M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$8M
NET CASH FROM INVESTING	-$9M
Net Debt Issuance	$101M
Common Stock Repurchased	$0
Common Dividends Paid	-$22M
Other Financing Activities	-$77M
NET CASH FROM FINANCING	$25M
FREE CASH FLOW	-$40M
Net Change in Cash	-$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$196M
Short-Term Investments	$84M
Net Receivables	$120M
Inventory	$11M
Other Current Assets	$108M
TOTAL CURRENT ASSETS	$508M
PP&E (Net)	$88M
Goodwill	$56M
Intangible Assets	$2.9B
Long-Term Investments	$16M
Tax Assets	$147M
Other Non-Current Assets	$121M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$3.9B
Account Payables	$149M
Short-Term Debt	$175M
Deferred Revenue	$5M
Other Current Liabilities	$187M
TOTAL CURRENT LIABILITIES	$562M
Long-Term Debt	$1.0B
Deferred Revenue NC	$21M
Deferred Tax Liabilities	$233M
Other Non-Current Liabilities	$828M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$2.7B
Common Stock	$160M
Additional Paid-In Capital	$180M
Retained Earnings	$403M
Treasury Stock	$0
Accum. Other Comp. Income	$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$764M
Minority Interest	$435M
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$1.2B
Net Debt	$1.0B