CAAP FY 2023 Earnings Report — Corporación América Airports S.A. Revenue & Financial Results | Market Cap Arena

Corporación América Airports S.A.CAAP

FY 2023 Earnings

Reported March 28, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.4B	—	1.6%
Op. Income	$347M	—	$274M	—	26.4%
Gross Margin	34.5%	—	29.9%	—	4.7pp
Net Margin	17.1%	—	12.2%	—	4.9pp
EPS (Diluted)	$1.49	—	$1.05	—	41.9%
Free Cash Flow	$347M	—	$279M	—	24.4%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$917M
GROSS PROFIT	$483M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$132M
Other Expenses	$4M
Operating Expenses	$137M
Cost & Expenses	$1.1B
OPERATING INCOME	$347M
Interest Income	$53M
Interest Expense	$99M
Other Income/Expenses	-$144M
INCOME BEFORE TAX	$202M
Income Tax Expense	-$24M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$240M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$240M
D&A	$151M
EBIT	$347M
EBITDA	$497M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$917M
GROSS PROFIT	$483M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$132M
Other Expenses	$4M
Operating Expenses	$137M
Cost & Expenses	$1.1B
OPERATING INCOME	$347M
Interest Income	$53M
Interest Expense	$99M
Other Income/Expenses	-$144M
INCOME BEFORE TAX	$202M
Income Tax Expense	-$24M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$240M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$240M
D&A	$151M
EBIT	$347M
EBITDA	$497M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$240M
Depreciation & Amortization	$152M
Stock-Based Compensation	$1M
Deferred Income Tax	$0
Other Non-Cash Items	$18M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$356M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$57M
NET CASH FROM INVESTING	-$66M
Net Debt Issuance	-$116M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$86M
NET CASH FROM FINANCING	-$202M
FREE CASH FLOW	$347M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$370M
Short-Term Investments	$78M
Net Receivables	$271M
Inventory	$16M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$750M
PP&E (Net)	$85M
Goodwill	$9M
Intangible Assets	$2.5B
Long-Term Investments	$79M
Tax Assets	$63M
Other Non-Current Assets	$44M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$3.5B
Account Payables	$113M
Short-Term Debt	$200M
Deferred Revenue	$27M
Other Current Liabilities	$24M
TOTAL CURRENT LIABILITIES	$686M
Long-Term Debt	$1.1B
Deferred Revenue NC	$13M
Deferred Tax Liabilities	$137M
Other Non-Current Liabilities	$758M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$2.7B
Common Stock	$163M
Additional Paid-In Capital	$183M
Retained Earnings	$439M
Treasury Stock	-$4M
Accum. Other Comp. Income	-$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$725M
Minority Interest	$79M
TOTAL EQUITY	$804M
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$1.3B
Net Debt	$977M