UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July
GRUPO AEROPORTUARIO DEL CENTRO NORTE, S.A.B. DEC.V.
(CENTRAL NORTH AIRPORT GROUP)
_________________________________________________________________
(Translation of Registrant’s Name IntoEnglish)
México
_________________________________________________________________
(Jurisdiction of incorporation or organization)
Torre Latitud, L501, Piso 5
Av. Lázaro Cárdenas 2225
Col. Valle Oriente, San Pedro Garza García
Nuevo León, México
_________________________________________________________________
(Address of principal executive offices)
(Indicate by check mark whether the registrantfiles or will file annual reports under cover of Form 20-F or Form 40-F.)
| Form 20-F ☒ Form 40-F ☐ |
(Indicate by check mark whether the registrantby furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule12g3-2(b) under the Securities Exchange Act of 1934.)
| Yes ☐ No ☒ |
(If “Yes” is marked, indicate belowthe file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .)
OMAAnnounces Second Quarter 2025
Operating and Financial Results
MexicoCity, Mexico, July 28, 2025—Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known asOMA (NASDAQ: OMAB; BMV: OMA), today reported its unaudited, consolidated financial and operating results for the second quarter2025 (2Q25).
2Q25summary
| ■ | Passenger traffic increased 11.3% during 2Q25, as compared to 2Q24, reaching 7.2 million passengers. The airports with the highest traffic growth compared to 2Q24 were Monterrey, Zihuatanejo, Chihuahua, Zacatecas, and Tampico. |
| ■ | The sum of aeronautical and non-aeronautical revenues grew 16.8%, as compared to 2Q24. |
| ■ | Adjusted EBITDA increased by 18.8%, as compared to 2Q24, reaching Ps.2,564 million. |
| ■ | Capital investments and major maintenance works included in the Master Development Plans (MDPs) plus strategic investments were Ps.975 million in the quarter. |
| (Thousand Passengers and Million Pesos) | 2Q24 | 2Q25 | %Var vs 2Q24 | 6M 2024 | 6M 2025 | %Var vs 2024 | ||||||||||||||
| Passenger Traffic | 6,470 | 7,201 | 11.3 | 12,359 | 13,629 | 10.3 | ||||||||||||||
| Aeronautical Revenues | 2,204 | 2,579 | 17.0 | 4,258 | 4,917 | 15.5 | ||||||||||||||
| Non-Aeronautical Revenues | 740 | 858 | 16.0 | 1,425 | 1,687 | 18.4 | ||||||||||||||
| Aeronautical + Non-Aeronautical Revenues | 2,944 | 3,438 | 16.8 | 5,683 | 6,603 | 16.2 | ||||||||||||||
| Construction Revenues | 556 | 916 | 64.7 | 1,572 | 1,319 | (16.1 | ) | |||||||||||||
| Total Revenues | 3,500 | 4,353 | 24.4 | 7,255 | 7,922 | 9.2 | ||||||||||||||
| Adjusted EBITDA | 2,157 | 2,564 | 18.8 | 4,201 | 4,936 | 17.5 | ||||||||||||||
| Adjusted EBITDA Margin (%) | 73.3% | 74.6% | 73.9% | 74.8% | ||||||||||||||||
| Income from Operations | 1,928 | 2,296 | 19.1 | 3,721 | 4,407 | 18.4 | ||||||||||||||
| Operating Margin (%) | 55.1% | 52.7% | 51.3% | 55.6% | ||||||||||||||||
| Consolidated Net Income | 1,292 | 1,341 | 3.8 | 2,371 | 2,632 | 11.0 | ||||||||||||||
| Net Income of Controlling Interest | 1,287 | 1,335 | 3.7 | 2,364 | 2,620 | 10.8 | ||||||||||||||
| EPS (Ps.) | 3.33 | 3.46 | 3.7 | 6.12 | 6.78 | 10.8 | ||||||||||||||
| EPADS (US$) | 1.45 | 1.47 | 1.1 | 2.67 | 2.88 | 8.1 | ||||||||||||||
| MDP and Strategic Investments | 816 | 975 | 19.5 | 1,926 | 1,477 | (23.3 | ) | |||||||||||||
OMAwill hold its 2Q25 earnings conference call on July 29, 2025 at 12:00 p.m. Eastern time, 10:00 a.m. Mexico City time.
Call+1-877-407-9208 toll-free from the U.S. or +1-201-493-6784 from outside the U.S. The conference ID is 13754922. The conferencecall will also be available by webcast at: |
| Chief Financial Officer Ruffo Pérez Pliego +52 (81) 8625 4300 rperezpliego@oma.aero | www.oma.aero | Investor Relations: Emmanuel Camacho +52 (81) 8625 4308 ecamacho@oma.aero |
2Q25Operating Results
Operations,Passengers, and Cargo
Thenumber of seats offered increased 11.9% compared to 2Q24.
During the quarter, 2 international routes started operations.
| Airline | Opened | |||
| # Routes | Origin | Destination | Type | |
| International Routes | ||||
| Aeroméxico | 1 | San Luis Potosí | Atlanta | Regular* |
| Air Canada | 1 | Monterrey | Toronto | Regular* |
*There was no other airline operating this route.
Totalpassenger traffic reached 7.2 million passengers, an increase of 11.3% as compared to 2Q24. During the quarter, of total traffic,85.8% was domestic and 14.2% was international.
Domesticpassenger traffic grew 10.1%, compared to 2Q24, while international traffic increased 19.0%.
The airports with the largestpassenger traffic growth in volume terms as compared to 2Q24, were:
| ■ | Monterrey (+23.8%), on its Guanajuato, Hermosillo, Puerto Vallarta, Querétaro, and Ciudad Juárez routes. |
| ■ | Zihuatanejo (+18.0%), on its Mexico City, Santa Lucía (AIFA), and Querétaro routes. |
| ■ | Chihuahua (+4.8%), on its Tijuana, Monterrey and Dallas-Fort Worth routes. |
Theairports with the largest passenger traffic decrease in volume terms as compared to 2Q24, were:
| ■ | Mazatlán (-9.2%), on its Mexico City, Santa Lucía (AIFA) and Ciudad Juárez routes. |
| ■ | Reynosa (-21.7%), on its Mexico City, Cancún and Santa Lucía (AIFA) routes. |
| ■ | Culiacán (-5.0%), on its Tijuana, Mexico City and Santa Lucía (AIFA) routes. |
| 2Q24 | 2Q25 | %Var | 6M 2024 | 6M 2025 | %Var | |||||||||||||||
| Available Seats | 8,405,304 | 9,402,053 | 11.9 | 16,100,025 | 18,128,044 | 12.6 | ||||||||||||||
| Passenger Traffic: | ||||||||||||||||||||
| Domestic | 5,612,394 | 6,181,396 | 10.1 | 10,577,758 | 11,544,962 | 9.1 | ||||||||||||||
| International | 857,424 | 1,020,054 | 19.0 | 1,781,303 | 2,083,577 | 17.0 | ||||||||||||||
| Total Passenger Traffic | 6,469,818 | 7,201,450 | 11.3 | 12,359,061 | 13,628,539 | 10.3 | ||||||||||||||
| Commercial Aviation (Regular and Charter) | 6,433,157 | 7,161,499 | 11.3 | 12,282,391 | 13,546,925 | 10.3 | ||||||||||||||
| General Aviation | 36,661 | 39,951 | 9.0 | 76,670 | 81,614 | 6.4 | ||||||||||||||
| Cargo Units | 351,454 | 342,334 | (2.6 | ) | 662,206 | 642,463 | (3.0 | ) | ||||||||||||
| Workload Units | 6,821,272 | 7,543,784 | 10.6 | 13,021,267 | 14,271,002 | 9.6 | ||||||||||||||
| Flight Operations (Takeoffs and Landings): | ||||||||||||||||||||
| Domestic | 67,136 | 70,919 | 5.6 | 128,166 | 136,937 | 6.8 | ||||||||||||||
| International | 11,190 | 13,844 | 23.7 | 23,353 | 28,226 | 20.9 | ||||||||||||||
| Total Flight Operations | 78,326 | 84,763 | 8.2 | 151,519 | 165,163 | 9.0 | ||||||||||||||
2
CommercialOperations
Thecommercial space occupancy rate in the passenger terminals was 96.0% as of June 30, 2025.
FreightLogistics Services
| ■ | OMA Carga’s revenues decreased by 4.1%, as compared to 2Q24, due to lower revenues from the air cargo operations in Monterrey. |
HotelServices
| ■ | The NH Collection Terminal 2 Hotel had an 83.6% occupancy rate, compared to 85.4% in 2Q24, with a 5.5% increase in the average room rate to Ps.2,994 per night. |
| ■ | Hilton Garden Inn had a 75.9% occupancy rate, compared to 78.6% in 2Q24, with a 10.1% increase in the average room rate to Ps.3,224 per night. |
IndustrialServices
| ■ | OMA VYNMSA Aero Industrial Park: Revenues reached Ps.52.1 million, an increase of 104.7% versus 2Q24. The increase is mainly explained by a higher number of square meters leased as compared to 2Q24. |
ConsolidatedFinancial Results
Revenues
Aeronauticalrevenues increased 17.0%.
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | |||||||||||||
| Domestic Passenger Charges | 1,491,010 | 1,662,942 | 11.5 | 2,802,183 | 3,073,718 | 9.7 | |||||||||||||
| International Passenger Charges | 421,532 | 567,045 | 34.5 | 891,931 | 1,177,886 | 32.1 | |||||||||||||
| Other Aeronautical Services, Regulated Leases and Access Rights | 291,732 | 349,251 | 19.7 | 564,096 | 664,950 | 17.9 | |||||||||||||
| Aeronautical Revenues | 2,204,274 | 2,579,238 | 17.0 | 4,258,211 | 4,916,554 | 15.5 | |||||||||||||
| Aeronautical Revenues/Passenger (Ps.) | 340.7 | 358.2 | 5.1 | 344.5 | 360.8 | 4.7 |
Non-aeronauticalrevenues increased 16.0%.
Commercialrevenues increased 19.7%, while commercial revenues per passenger reached Ps.62.4, increasing 7.5% versus 2Q24. The line itemswith the largest increases were:
| ■ | Restaurants, +41.1%, driven by a higher penetration and the opening or replacement of outlets in previous quarters, as well as, the increase in passenger traffic. |
| ■ | Parking, +12.7%, mainly as a result of higher domestic and international passenger traffic. |
| ■ | VIP Lounges, +34.6%, as a result of an increase in rates and a higher penetration, as well as, new lounges beginning operations in previous quarters. |
| ■ | Retail, +27.4%, driven by a higher penetration and the opening or replacement of outlets in previous quarters, as well as, the increase in passenger traffic. |
3
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||
| Commercial Activities: | ||||||||||||||||||
| Parking | 111,267 | 125,448 | 12.7 | 214,024 | 242,236 | 13.2 | ||||||||||||
| Advertising | 21,161 | 24,375 | 15.2 | 46,526 | 47,395 | 1.9 | ||||||||||||
| Retail | 40,952 | 52,157 | 27.4 | 72,466 | 99,726 | 37.6 | ||||||||||||
| Duty Free | 5,783 | 6,700 | 15.9 | 6,286 | 13,719 | 118.2 | ||||||||||||
| Restaurants | 64,349 | 90,824 | 41.1 | 129,233 | 176,966 | 36.9 | ||||||||||||
| Car Rentals | 66,245 | 66,846 | 0.9 | 132,542 | 133,095 | 0.4 | ||||||||||||
| Passenger Services | 1,028 | 1,266 | 23.1 | 2,122 | 2,582 | 21.7 | ||||||||||||
| Time Shares & Hotel Promotion | 4,500 | 4,635 | 3.0 | 9,459 | 9,914 | 4.8 | ||||||||||||
| Communications and Networks | 4,064 | 4,215 | 3.7 | 7,875 | 8,590 | 9.1 | ||||||||||||
| VIP Lounges | 37,912 | 51,045 | 34.6 | 64,622 | 99,181 | 53.5 | ||||||||||||
| Financial Services | 3,084 | 4,415 | 43.2 | 6,227 | 8,759 | 40.6 | ||||||||||||
| Other Services | 15,171 | 17,557 | 15.7 | 31,078 | 33,377 | 7.4 | ||||||||||||
| Total Revenues from Commercial Activities | 375,515 | 449,483 | 19.7 | 722,459 | 875,540 | 21.2 | ||||||||||||
| Revenues from Commercial Activities/Passenger (Ps.) | 58.0 | 62.4 | 7.5 | 58.5 | 64.2 | 9.9 | ||||||||||||
Diversificationrevenues increased 10.7%, mainly due to higher revenues from Industrial Services.
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||
| Diversification Activities: | ||||||||||||||||||
| Hotel Services | 107,069 | 111,799 | 4.4 | 213,003 | 228,612 | 7.3 | ||||||||||||
| OMA Carga (Freight Logistics Service) | 116,551 | 111,743 | (4.1 | ) | 201,303 | 221,688 | 10.1 | |||||||||||
| Real Estate Services | 10,945 | 11,242 | 2.7 | 21,084 | 22,154 | 5.1 | ||||||||||||
| Industrial Services | 25,451 | 52,093 | 104.7 | 52,382 | 94,226 | 79.9 | ||||||||||||
| Other Services | 3,091 | 4,454 | 44.1 | 19,349 | 22,185 | 14.7 | ||||||||||||
| Total Revenues from Diversification Activities | 263,107 | 291,331 | 10.7 | 507,122 | 588,865 | 16.1 | ||||||||||||
| Complementary Activities: | ||||||||||||||||||
| Checked Baggage Screening | 62,351 | 69,885 | 12.1 | 118,343 | 126,385 | 6.8 | ||||||||||||
| Other Leases | 28,938 | 36,600 | 26.5 | 56,187 | 73,802 | 31.4 | ||||||||||||
| Access Rights | 6,949 | 7,978 | 14.8 | 15,261 | 16,489 | 8.0 | ||||||||||||
| Other Services | 2,766 | 3,033 | 9.7 | 5,514 | 5,829 | 5.7 | ||||||||||||
| Total Revenues from Complementary Activities | 101,005 | 117,497 | 16.3 | 195,305 | 222,505 | 13.9 | ||||||||||||
| Non-Aeronautical Revenues | 739,627 | 858,310 | 16.0 | 1,424,886 | 1,686,910 | 18.4 | ||||||||||||
| Non-Aeronautical Revenues/Passenger (Ps.) | 114.3 | 119.2 | 4.3 | 115.3 | 123.8 | 7.4 | ||||||||||||
Constructionrevenues represent the value of improvements to concessioned assets. They are equal to construction costs and generateneither a gain nor a loss. Construction revenues and costs are determined based on the advance in the execution of projects inaccordance with the airports’ Master Development Programs (MDP), and variations depend on the rate of project execution.
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||
| Aeronautical Revenues | 2,204,274 | 2,579,238 | 17.0 | 4,258,211 | 4,916,554 | 15.5 | ||||||||||||
| Non-Aeronautical Revenues | 739,627 | 858,310 | 16.0 | 1,424,886 | 1,686,910 | 18.4 | ||||||||||||
| Aeronautical + Non-Aeronautical Revenues | 2,943,901 | 3,437,548 | 16.8 | 5,683,097 | 6,603,464 | 16.2 | ||||||||||||
| Construction Revenues | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||
| Total Revenues | 3,499,856 | 4,353,173 | 24.4 | 7,254,900 | 7,921,986 | 9.2 | ||||||||||||
| Aeronautical Revenues + Non-Aeronautical Revenues / Passenger (Ps.) | 455.0 | 477.3 | 4.9 | 459.8 | 484.5 | 5.4 | ||||||||||||
Costsand Operating Expenses
Thesum of cost of airport services and general and administrative expenses (G&A) increased 5.6% as compared to 2Q24.
4
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||
| Payroll | 175,782 | 195,095 | 11.0 | 348,948 | 385,475 | 10.5 | ||||||||||||
| Contracted Services (Security, Cleaning and Professional Services) | 77,118 | 83,418 | 8.2 | 146,957 | 159,378 | 8.5 | ||||||||||||
| Minor Maintenance | 57,041 | 53,438 | (6.3 | ) | 97,354 | 85,334 | (12.3 | ) | ||||||||||
| Basic Services (Electricity, Water, Telephone) | 27,515 | 29,834 | 8.4 | 48,251 | 50,006 | 3.6 | ||||||||||||
| Materials and Supplies | 18,643 | 13,371 | (28.3 | ) | 29,611 | 25,678 | (13.3 | ) | ||||||||||
| Insurance and Bonding | 8,700 | 9,838 | 13.1 | 16,754 | 21,962 | 31.1 | ||||||||||||
| Other costs and expenses | 65,393 | 69,146 | 5.7 | 107,302 | 128,446 | 19.7 | ||||||||||||
| Cost of Airport Services + G&A | 430,192 | 454,141 | 5.6 | 795,176 | 856,278 | 7.7 | ||||||||||||
| Cost of Hotel Services | 61,102 | 63,067 | 3.2 | 120,203 | 127,409 | 6.0 | ||||||||||||
| Cost of Industrial Park Services | 101 | 7,422 | n.a. | 4,944 | 13,911 | 181.3 | ||||||||||||
| Subtotal (Cost of Services + G&A) | 491,394 | 524,631 | 6.8 | 920,324 | 997,597 | 8.4 | ||||||||||||
| Subtotal (Cost of Services + G&A) / Passenger (Ps.) | 76.0 | 72.9 | (4.1 | ) | 74.5 | 73.2 | (1.7 | ) | ||||||||||
Themajor maintenance provision expense was Ps.50.4 million. The outstanding balance of the maintenance provision as of June30, 2025, was Ps.2,538 million.
Theairport concession tax increased 18.1% to Ps.282.6 million, as a result of the increase in revenues.
Inrelation to the change in the rate from 5.0% to 9.0% applied to the revenues generated by OMA’s airport concessions, pursuantto the Mexican Federal Duties Law, effective as of January 1, 2024, in the second quarter of 2025, the 4% excess of ConcessionTax levied on aeronautical revenues amounted to Ps.109.3 million, equivalent to 3.2% of the sum of OMA’s aeronautical and non-aeronauticalrevenues. This amount is included within the Ps.282.6 million recorded as Concession Tax expense in 2Q25. Under the Tariff RegulationBases effective as of October 20, 2023, payments made to the government related to aeronautical revenues, in excess of those includedin the most recent tariff revision, will be added to the reference value to be used in the next joint maximum tariff revision.Therefore, starting in January 2026, these excess airport concession taxes amounts paid will begin to be recovered through themaximum tariff.
Thetechnical assistance fee was Ps.67.0 million, 20.2% higher, due to an increase in the EBITDA.
Totaloperating costs and expenses increased 30.9%.
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||
| Cost of Services | 295,297 | 307,356 | 4.1 | 550,944 | 572,615 | 3.9 | ||||||||||||
| Administrative Expenses (G&A) | 196,097 | 217,275 | 10.8 | 369,380 | 424,982 | 15.1 | ||||||||||||
| Subtotal (Cost of Services + G&A) | 491,394 | 524,631 | 6.8 | 920,324 | 997,597 | 8.4 | ||||||||||||
| Major Maintenance Provision | 43,003 | 50,366 | 17.1 | 114,351 | 103,801 | (9.2 | ) | |||||||||||
| Construction Cost | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||
| Concession Taxes | 239,252 | 282,631 | 18.1 | 462,713 | 541,795 | 17.1 | ||||||||||||
| Technical Assistance Fee | 55,784 | 67,039 | 20.2 | 108,387 | 128,600 | 18.6 | ||||||||||||
| Depreciation & Amortization | 186,069 | 217,548 | 16.9 | 364,966 | 425,161 | 16.5 | ||||||||||||
| Other (Income) Expense - Net | (22 | ) | (601 | ) | n.a. | (9,083 | ) | (643 | ) | n.a. | ||||||||
| Total Operating Costs and Expenses | 1,571,435 | 2,057,239 | 30.9 | 3,533,461 | 3,514,833 | (0.5 | ) | |||||||||||
OperatingIncome and Adjusted EBITDA
OperatingIncome was Ps.2,296 million, 19.1% higher than 2Q24, with an operating margin of 52.7%.
AdjustedEBITDA was Ps.2,564 million, 18.8% higher than 2Q24, with a margin of 74.6%.
5
| (Ps. Thousands) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Consolidated Net Income | 1,291,713 | 1,340,536 | 3.8 | 2,370,910 | 2,632,302 | 11.0 | ||||||||||||||||||
| - Financing (Expense) Income | (133,658 | ) | (408,021 | ) | 205.3 | (409,790 | ) | (720,336 | ) | 75.8 | ||||||||||||||
| + Income Taxes | 503,050 | 547,377 | 8.8 | 940,739 | 1,054,515 | 12.1 | ||||||||||||||||||
| Operating Income | 1,928,421 | 2,295,934 | 19.1 | 3,721,439 | 4,407,153 | 18.4 | ||||||||||||||||||
| Operating Margin (%) | 55.1% | 52.7% | 51.3% | 55.6% | ||||||||||||||||||||
| + Depreciation and Amortization | 186,069 | 217,548 | 16.9 | 364,966 | 425,161 | 16.5 | ||||||||||||||||||
| EBITDA | 2,114,490 | 2,513,482 | 18.9 | 4,086,405 | 4,832,314 | 18.3 | ||||||||||||||||||
| EBITDA Margin (%) | 60.4% | 57.7% | 56.3% | 61.0% | ||||||||||||||||||||
| - Construction Revenue | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||||||||
| + Construction Cost | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||||||||
| + Major Maintenance Provision | 43,003 | 50,366 | 17.1 | 114,351 | 103,801 | (9.2 | ) | |||||||||||||||||
| Adjusted EBITDA* | 2,157,493 | 2,563,848 | 18.8 | 4,200,756 | 4,936,115 | 17.5 | ||||||||||||||||||
| Adjusted EBITDA Margin: Adjusted EBITDA/(Aeronautical Revenue + Non-Aeronautical Revenue) (%) | 73.3% | 74.6% | 73.9% | 74.8% |
*Excludingthe incremental effect of the concession tax on aeronautical revenues, OMA’s Adjusted EBITDA would have been Ps.2,670 million,with a margin of 77.7% during 2Q25. For the six months ended on June 30, 2025, Adjusted EBITDA would have been Ps.5,138 million,with a margin of 77.8%.
FinancingExpense and Net Income
FinancingExpense was Ps.408 million compared to Ps.134 million in 2Q24. The increase is primarily due to a higher non-cash interestexpense of Ps.130 million resulting mainly from a change in the present value of the major maintenance provision of Ps.59.8 million,as a result of a decrease in the discount rates used for its calculation.
| (Ps. thousand) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Interest Income | 62,497 | 34,700 | (44.5 | ) | 151,128 | 77,751 | (48.6 | ) | ||||||||||||||||
| Changes in Present Value of Financial Leases | (4,802 | ) | (3,698 | ) | (23.0 | ) | (10,418 | ) | (8,559 | ) | (17.8 | ) | ||||||||||||
| Changes in Present Value of Major Maintenance Provision | 55,265 | (130,138 | ) | n.a. | (2,979 | ) | (183,586 | ) | n.a. | |||||||||||||||
| Interest Expense from Bank and Issued Debt | (282,178 | ) | (281,807 | ) | (0.1 | ) | (564,523 | ) | (567,523 | ) | 0.5 | |||||||||||||
| Interest (Expense) | (231,716 | ) | (415,643 | ) | 79.4 | (577,920 | ) | (759,668 | ) | 31.4 | ||||||||||||||
| Exchange Gain (Loss), net | 35,561 | (27,078 | ) | n.a. | 17,002 | (38,419 | ) | n.a. | ||||||||||||||||
| Total Financing Expense | (133,658 | ) | (408,021 | ) | 205.3 | (409,790 | ) | (720,336 | ) | 75.8 |
Consolidatednet income in the quarter was Ps.1,341 million, an increase of 3.8% as compared to 2Q24.
Earningsper share, based on net income of the controlling interest was Ps.3.46, and earnings per ADS was US$1.47. Each ADS representseight Series B shares.
| (Ps. thousand) | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Consolidated Net Income | 1,291,713 | 1,340,536 | 3.8 | 2,370,910 | 2,632,302 | 11.0 | ||||||||||||||||||
| Net income margin % | 36.9% | 30.8% | 32.7% | 33.2% | ||||||||||||||||||||
| Non-controlling interest | 4,353 | 5,064 | 16.3 | 6,722 | 12,172 | 81.1 | ||||||||||||||||||
| Net income of controlling Interet | 1,287,360 | 1,335,472 | 3.7 | 2,364,188 | 2,620,130 | 10.8 | ||||||||||||||||||
| Earnings per Share, Ps. | 3.33 | 3.46 | 3.7 | 6.12 | 6.78 | 10.8 | ||||||||||||||||||
| Earnings per ADS, US$ | 1.45 | 1.47 | 1.1 | 2.67 | 2.88 | 8.1 |
MDPand Strategic Investments
In2Q25, capital investments and major maintenance works in the MDPs and strategic investments totaled Ps.975 million, comprisedof Ps.916 million in improvements to concessioned assets, Ps.16 million in major maintenance and Ps.43 million in strategic investments.
Themost important investment expenditures included:
6
| Airport | Project | Status |
| MDP Investments | ||
| Culiacán | Expansion and remodeling of Terminal | In Process |
| Monterrey | Second phase of the expansion and remodeling of Terminal A | In Process |
| Monterrey | Supply and installation of HVAC in three buildings | In Process |
| Torreón | Second phase of the Terminal Building expansion | In Process |
| Monterrey | Supply, assembly, connection, testing, commissioning, and training of the explosive detection tomography system | In Process |
| 2 Airports | Minor rehabilitation of runway and commercial aviation platform in Zihuatanejo and Culiacán | In Process |
| 2 Airports | Expansion of terminal building in Culiacán and Torreón | In Process |
| Monterrey | Expansion of electrical substation | In Process |
| Monterrey | Construction of the Fire-Fighting Services building | In Process |
| Mazatlán | Terminal building reconfiguration | In Process |
| Ciudad Juárez | Rehabilitation of commercial aviation platform | In Process |
| Torreón | Major rehabilitation of taxiways | In Process |
| Chihuahua | Minor rehabilitation of runway and construction of general aviation platform | In Process |
| Tampico | Minor rehabilitation of platform and mayor rehabilitation of taxiway | In Process |
| Culiacán | Remodeling and expansion of the Fire-Fighting Services area | In Process |
| Ciudad Juárez | Expansion of commercial aviation platform | Finished |
| Strategic Investments | ||
| Monterrey | Expansion of OMA Carga bonded warehouses | In Process |
| Monterrey | Industrial park - Construction of one industrial warehouse and tenant improvements to one industrial warehouse | Finished |
| Indebtedness | ||||||||||||||||||
| (Ps. Thousands) | Scheduled | Interest Rate | June 30, | December 31, | June 30, | |||||||||||||
| Maturity | 2024 | 2024 | 2025 | |||||||||||||||
| Short Term Debt | ||||||||||||||||||
| Credit Lines payable at maturity in May 2025; Ps. 600 mm | May 2025 | TIIE + 60 bps | - | 600,000 | - | |||||||||||||
| Total Short-Term Debt | - | 600,000 | - | |||||||||||||||
| Long-Term Debt | ||||||||||||||||||
| 5-yr Bond, Ps. 1,000 mm: OMA21V | April 2026 | TIIE 28 + 75 bps | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||
| 7-yr Bond, Ps. 2,500 mm: OMA21-2 | April 2028 | 7.83% | 2,500,000 | 2,500,000 | 2,500,000 | |||||||||||||
| 5-yr Bond, Ps. 1,700 mm: OMA22L | March 2027 | TIIE 28 + 14 bps | 1,700,000 | 1,700,000 | 1,700,000 | |||||||||||||
| 7-yr Bond, Ps. 2,300 mm: OMA22-2L | March 2029 | 9.35% | 2,300,000 | 2,300,000 | 2,300,000 | |||||||||||||
| 3.4-yr Bond, Ps. 640 mm: OMA23L | July 2026 | TIIE 28 + 22 bps | 640,000 | 640,000 | 640,000 | |||||||||||||
| 7-yr Bond, Ps. 2,560 mm: OMA23-2L | March 2030 | 10.26% | 2,560,000 | 2,560,000 | 2,560,000 | |||||||||||||
| 3-yr Bond, Ps. 820 mm: OMA25 | June 2028 | TIIE Fondeo + 45 bps | - | - | 820,000 | |||||||||||||
| 7-yr Bond, Ps. 1,930 mm: OMA25-2 | June 2032 | 9.34% | - | - | 1,930,000 | |||||||||||||
| Subtotal Long-Term Debt | 10,700,000 | 10,700,000 | 13,450,000 | |||||||||||||||
| Less: Current Portion of Long-Term Debt | - | - | (1,000,000 | ) | ||||||||||||||
| Less: Commissions and Financing Expenses | (20,720 | ) | (18,120 | ) | (25,257 | ) | ||||||||||||
| Total Long-Term Debt | 10,679,280 | 10,681,880 | 12,424,743 | |||||||||||||||
| Plus: Financial leases | 185,030 | 178,990 | 160,149 | |||||||||||||||
Plus: Current Portion of Long-Term Debt Plus: Bank Debt | - - | - 600,000 | 1,000,000 - | |||||||||||||||
| Total Debt + Financial leases | 10,864,310 | 11,460,870 | 13,584,892 | |||||||||||||||
| Variable Rate issued debt | 31.2 | % | 34.9 | % | 30.9 | % | ||||||||||||
| Fixed Rate issued debt | 68.8 | % | 65.1 | % | 69.1 | % | ||||||||||||
| Net Debt (Includes financial leases) | 9,254,277 | 9,804,505 | 10,231,197 | |||||||||||||||
| Net Debt / Last Twelve Months Adjusted EBITDA (x) | 1.03 | 1.08 | 1.04 | |||||||||||||||
Derivatives
Asof the date of this report, OMA has no financial derivatives exposure.
CashFlow Statement
During2Q25, cash flows from operating activities generated cash of Ps.1,819 million.
Investingactivities used cash for Ps.575 million in the second quarter. Financing activities reflect mainly interest expensepayments, the first installment of the ordinary dividend for Ps.2,250 million, the long-term debt placement of Ps.2,750 millionand the repayment of Ps.600 million of short-term loans, resulting in a net cash outflow of Ps.138 million in the quarter.
7
Thenet increase in cash resulting from operating, investing and financing activities in 2Q25 was Ps.1,106 million. This, combinedwith the negative effect of changes in the value of cash of Ps.19 million, resulted in a Cash and Cash Equivalents balance asof June 30, 2025 of Ps.3,354 million.
| From April 1 to June 30, | From January 1 to June 30, | |||||||||||||||||||||||
(Ps. Thousands) | 2024 | 2025 | %Var | 2024 | 2025 | %Var | ||||||||||||||||||
| Income Before Taxes | 1,794,763 | 1,887,913 | 5.2 | 3,311,649 | 3,686,817 | 11.3 | ||||||||||||||||||
| Items not affecting Operating Activities, net | 374,259 | 671,210 | 79.3 | 888,622 | 1,242,344 | 39.8 | ||||||||||||||||||
| Changes in operational assets and liabilities, net | (1,126,716 | ) | (740,141 | ) | (34.3 | ) | (1,626,861 | ) | (1,191,940 | ) | (26.7 | ) | ||||||||||||
| Net Flow from Operating Activities | 1,042,306 | 1,818,981 | 74.5 | 2,573,410 | 3,737,221 | 45.2 | ||||||||||||||||||
| Net Flow from Investing Activities | (544,183 | ) | (574,789 | ) | 5.6 | (969,225 | ) | (1,356,208 | ) | 39.9 | ||||||||||||||
| Net Flow from Financing Activities | (2,351,590 | ) | (138,086 | ) | (94.1 | ) | (2,589,262 | ) | (657,495 | ) | (74.6 | ) | ||||||||||||
| Net Increase (Reduction) in Cash and Cash Equivalents | (1,853,467 | ) | 1,106,106 | n.a. | (985,077 | ) | 1,723,519 | n.a. | ||||||||||||||||
| Effect of Change for Fair Value of Cash and Equivalents | 24,805 | (18,931 | ) | n.a. | 18,854 | (26,189 | ) | n.a. | ||||||||||||||||
| Cash and Equivalents at Beginning of Period | 3,438,695 | 2,266,520 | (34.1 | ) | 2,576,256 | 1,656,365 | (35.7 | ) | ||||||||||||||||
| Cash and Equivalents at End of Period | 1,610,033 | 3,353,695 | 108.3 | 1,610,033 | 3,353,695 | 108.3 | ||||||||||||||||||
RelevantEvents.
OMAissues debt placement of Ps.2.75 billion. On June 27, 2025, OMA issued long-term notes in the Mexican market for an aggregateamount of Ps.2.75 billion. Proceeds from the Issuances were used to prepay Ps.600 million short-term loans and the remaining willbe used to fund committed investments under the 2021-2025 Master Development Program and for general corporate purposes, includingworking capital.
SeniorManagement Changes. During August and September 2025, OMA will implement changes in two key positions within its Senior Managementteam:
ChiefOperations Officer (COO) appointment: Raful Zacarias Ezzat will assume the position of Chief Operations Officer of OMA inAugust 2025, succeeding Mr. Enrique Navarro, who is retiring after 21 years of dedicated service to the Company. We express oursincere gratitude to Mr. Navarro for his valuable contributions throughout the years. His leadership played a key role in strengtheningthe Company’s operational excellence and fostering a culture of safety across our airports.
Mr.Zacarias has over 20 years of experience in the airport management sector. He joined OMA in 2006 and has since held a range ofleadership positions. Most recently, he served as Airport Administrator at Monterrey International Airport. His previous roleswithin OMA include Airport Administrator at Ciudad Juárez Airport, Airport Operations Manager at OMA’s corporateoffices, Deputy Operations and Security Manager at Monterrey Airport, and Head of Airport Operations and Security at Ciudad JuárezAirport. He began his career as an Aviation Inspector at the Mexican Civil Aviation Authority. Mr. Zacarias holds a degree inAeronautical Engineering with a specialization in Airport Systems from the Instituto Politécnico Nacional (IPN), and aMaster’s degree in Business Administration with a focus in Finance from Universidad Tecmilenio.
ChiefCommercial Officer (CCO) appointment: Pierre Grosmaire will assume the position of Chief Commercial Officer of OMA in September2025, succeeding Mr. Leite, who is taking on new responsibilities within VINCI Airports. We thank Mr. Alvaro Leite for his valuablecontributions as Chief Commercial Officer.
8
Priorto joining OMA, Mr. Grosmaire served as Chief Commercial Officer of Lyon Airports operated by VINCI Airports from 2018 to 2025,where he led the commercial strategy of an airport handling over 11 million passengers annually and serving 45 airlines across140 destinations. From 2004 to 2018, Mr. Grosmaire served as Global Aviation Development Director at VINCI Airports. In this role,he participated in over 100 international tender processes for airport concessions, including the successful awards of NantesAirport, the ANA network in Portugal, Santiago de Chile Airport, the Osaka airports (Kansai, Itami, and Kobe), Aerodom in theDominican Republic, Salvador Airport, Lyon Airports, Belgrade Airport, Belfast International Airport, and Gatwick Airport, amongothers. Mr. Grosmaire holds an engineering degree from the École Nationale de l’Aviation Civile (ENAC) in Franceand studied International Commerce at the Florida Institute of Technology in Melbourne, United States.
9
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Passenger Traffic | ||||||||||||||||||||||||
| (Terminal Passengers - Excludes Transit Passengers) | ||||||||||||||||||||||||
| Total Passengers | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Acapulco | 159,500 | 157,460 | (1.3 | ) | 283,908 | 339,835 | 19.7 | |||||||||||||||||
| Ciudad Juárez | 549,238 | 536,452 | (2.3 | ) | 1,030,047 | 1,022,168 | (0.8 | ) | ||||||||||||||||
| Culiacán | 576,084 | 547,467 | (5.0 | ) | 1,066,920 | 1,074,868 | 0.7 | |||||||||||||||||
| Chihuahua | 453,797 | 475,525 | 4.8 | 884,526 | 898,490 | 1.6 | ||||||||||||||||||
| Durango | 128,702 | 135,600 | 5.4 | 250,186 | 260,371 | 4.1 | ||||||||||||||||||
| Mazatlán | 470,871 | 427,775 | (9.2 | ) | 964,133 | 907,858 | (5.8 | ) | ||||||||||||||||
| Monterrey | 3,229,433 | 3,999,095 | 23.8 | 6,082,657 | 7,290,381 | 19.9 | ||||||||||||||||||
| Reynosa | 132,662 | 103,820 | (21.7 | ) | 248,353 | 206,979 | (16.7 | ) | ||||||||||||||||
| San Luis Potosí | 192,490 | 195,067 | 1.3 | 350,393 | 368,545 | 5.2 | ||||||||||||||||||
| Tampico | 139,804 | 148,908 | 6.5 | 259,205 | 284,617 | 9.8 | ||||||||||||||||||
| Torreón | 208,632 | 207,303 | (0.6 | ) | 380,679 | 398,850 | 4.8 | |||||||||||||||||
| Zacatecas | 87,776 | 100,815 | 14.9 | 185,612 | 189,043 | 1.8 | ||||||||||||||||||
| Zihuatanejo | 140,829 | 166,163 | 18.0 | 372,442 | 386,534 | 3.8 | ||||||||||||||||||
| Total | 6,469,818 | 7,201,450 | 11.3 | 12,359,061 | 13,628,539 | 10.3 | ||||||||||||||||||
| Domestic Passengers | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Acapulco | 152,319 | 147,992 | (2.8 | ) | 270,790 | 312,992 | 15.6 | |||||||||||||||||
| Ciudad Juárez | 547,096 | 533,909 | (2.4 | ) | 1,026,361 | 1,017,392 | (0.9 | ) | ||||||||||||||||
| Culiacán | 563,525 | 537,452 | (4.6 | ) | 1,044,900 | 1,055,724 | 1.0 | |||||||||||||||||
| Chihuahua | 414,818 | 432,009 | 4.1 | 812,432 | 817,712 | 0.6 | ||||||||||||||||||
| Durango | 101,289 | 106,004 | 4.7 | 199,174 | 203,486 | 2.2 | ||||||||||||||||||
| Mazatlán | 394,445 | 362,976 | (8.0 | ) | 733,760 | 687,853 | (6.3 | ) | ||||||||||||||||
| Monterrey | 2,716,155 | 3,336,029 | 22.8 | 5,117,131 | 6,055,071 | 18.3 | ||||||||||||||||||
| Reynosa | 131,994 | 103,244 | (21.8 | ) | 247,098 | 205,760 | (16.7 | ) | ||||||||||||||||
| San Luis Potosí | 125,413 | 126,796 | 1.1 | 222,538 | 242,837 | 9.1 | ||||||||||||||||||
| Tampico | 124,177 | 122,539 | (1.3 | ) | 229,153 | 241,566 | 5.4 | |||||||||||||||||
| Torreón | 186,980 | 181,937 | (2.7 | ) | 341,775 | 351,958 | 3.0 | |||||||||||||||||
| Zacatecas | 48,464 | 55,656 | 14.8 | 109,131 | 101,281 | (7.2 | ) | |||||||||||||||||
| Zihuatanejo | 105,719 | 134,853 | 27.6 | 223,515 | 251,330 | 12.4 | ||||||||||||||||||
| Total | 5,612,394 | 6,181,396 | 10.1 | 10,577,758 | 11,544,962 | 9.1 | ||||||||||||||||||
| International Passengers | 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | ||||||||||||||||||
| Acapulco | 7,181 | 9,468 | 31.8 | 13,118 | 26,843 | 104.6 | ||||||||||||||||||
| Ciudad Juárez | 2,142 | 2,543 | 18.7 | 3,686 | 4,776 | 29.6 | ||||||||||||||||||
| Culiacán | 12,559 | 10,015 | (20.3 | ) | 22,020 | 19,144 | (13.1 | ) | ||||||||||||||||
| Chihuahua | 38,979 | 43,516 | 11.6 | 72,094 | 80,778 | 12.0 | ||||||||||||||||||
| Durango | 27,413 | 29,596 | 8.0 | 51,012 | 56,885 | 11.5 | ||||||||||||||||||
| Mazatlán | 76,426 | 64,799 | (15.2 | ) | 230,373 | 220,005 | (4.5 | ) | ||||||||||||||||
| Monterrey | 513,278 | 663,066 | 29.2 | 965,526 | 1,235,310 | 27.9 | ||||||||||||||||||
| Reynosa | 668 | 576 | (13.8 | ) | 1,255 | 1,219 | (2.9 | ) | ||||||||||||||||
| San Luis Potosí | 67,077 | 68,271 | 1.8 | 127,855 | 125,708 | (1.7 | ) | |||||||||||||||||
| Tampico | 15,627 | 26,369 | 68.7 | 30,052 | 43,051 | 43.3 | ||||||||||||||||||
| Torreón | 21,652 | 25,366 | 17.2 | 38,904 | 46,892 | 20.5 | ||||||||||||||||||
| Zacatecas | 39,312 | 45,159 | 14.9 | 76,481 | 87,762 | 14.8 | ||||||||||||||||||
| Zihuatanejo | 35,110 | 31,310 | (10.8 | ) | 148,927 | 135,204 | (9.2 | ) | ||||||||||||||||
| Total | 857,424 | 1,020,054 | 19.0 | 1,781,303 | 2,083,577 | 17.0 | ||||||||||||||||||
10
GrupoAeroportuario del Centro Norte, S.A.B. de C.V. UnauditedConsolidated Balance Sheet |
(Thousands of Pesos)
| June 30, | December 31, | June 30, | % Var | % Var | ||||||||||||||||
| 2024 | 2024 | 2025 | Jun25/Jun24 | Jun25/Dec24 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash and Cash Equivalents | 1,610,033 | 1,656,365 | 3,353,695 | 108.3 | 102.5 | |||||||||||||||
| Trade Accounts Receivable - Net | 1,634,792 | 1,845,965 | 1,895,495 | 15.9 | 2.7 | |||||||||||||||
| Trade Accounts Receivable from Related Parties | 50,481 | 20,276 | 3,488 | (93.1 | ) | (82.8 | ) | |||||||||||||
| Recoverable Taxes | 354,692 | 415,487 | 268,137 | (24.4 | ) | (35.5 | ) | |||||||||||||
| Advances to Contractors | 345,990 | 262,347 | 675,248 | 95.2 | 157.4 | |||||||||||||||
| Other Current Assets | 71,694 | 92,091 | 100,369 | 40.0 | 9.0 | |||||||||||||||
| Total Current Assets | 4,067,682 | 4,292,531 | 6,296,432 | 54.8 | 46.7 | |||||||||||||||
| Land, Buildings, Machinery and Equipment - Net | 3,005,939 | 3,112,540 | 3,175,806 | 5.7 | 2.0 | |||||||||||||||
| Investments in Airport Concessions - Net | 17,718,498 | 18,715,808 | 19,706,533 | 11.2 | 5.3 | |||||||||||||||
| Rights of use of leased assets, net | 129,237 | 126,299 | 111,130 | (14.0 | ) | (12.0 | ) | |||||||||||||
| Other Assets - Net | 72,264 | 60,990 | 52,534 | (27.3 | ) | (13.9 | ) | |||||||||||||
| Deferred Taxes | 913,866 | 924,892 | 1,011,313 | 10.7 | 9.3 | |||||||||||||||
| Total Assets | 25,907,486 | 27,233,060 | 30,353,748 | 17.2 | 11.5 | |||||||||||||||
| Liabilities and Stockholder’s Equity | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Bank Debt | - | 600,000 | - | n.a. | (100.0 | ) | ||||||||||||||
| Current Portion of Long-Term Debt | - | - | 1,000,000 | n.a. | n.a. | |||||||||||||||
| Current Portion of Major Maintenance Provision | 665,094 | 555,498 | 400,971 | (39.7 | ) | (27.8 | ) | |||||||||||||
| Current Portion of Financial Leases | 32,128 | 19,022 | 31,169 | (3.0 | ) | 63.9 | ||||||||||||||
| Trade Accounts Payable | 2,574,811 | 610,375 | 2,892,503 | 12.3 | 373.9 | |||||||||||||||
| Taxes and Accrued Expenses | 1,020,475 | 1,132,329 | 1,166,029 | 14.3 | 3.0 | |||||||||||||||
| Accounts Payable to Related Parties | 460,352 | 350,076 | 625,222 | 35.8 | 78.6 | |||||||||||||||
| Total Current Liabilities | 4,752,860 | 3,267,300 | 6,115,894 | 28.7 | 87.2 | |||||||||||||||
| Long-Term Debt | 10,679,280 | 10,681,880 | 12,424,743 | 16.3 | 16.3 | |||||||||||||||
| Guarantee Deposits | 413,317 | 416,665 | 425,451 | 2.9 | 2.1 | |||||||||||||||
| Employee Benefits | 145,604 | 165,279 | 175,702 | 20.7 | 6.3 | |||||||||||||||
| Major Maintenance Provision | 1,440,942 | 1,728,665 | 2,137,090 | 48.3 | 23.6 | |||||||||||||||
| Financial Leases | 152,902 | 159,968 | 128,980 | (15.6 | ) | (19.4 | ) | |||||||||||||
| Deferred Taxes | 49,987 | 48,566 | 39,476 | (21.0 | ) | (18.7 | ) | |||||||||||||
| Long-Term Accounts Payable to Related Parties | 270,235 | 220,500 | 196,000 | (27.5 | ) | (11.1 | ) | |||||||||||||
| Total liabilities | 17,905,127 | 16,688,823 | 21,643,336 | 20.9 | 29.7 | |||||||||||||||
| Common Stock | 297,782 | 297,782 | 297,782 | - | - | |||||||||||||||
| Additional paid-in capital | 29,786 | 29,786 | 29,786 | - | - | |||||||||||||||
| Retained Earnings | 5,985,571 | 8,550,187 | 6,715,790 | 12.2 | (21.5 | ) | ||||||||||||||
| Share Repurchase Reserve | 1,500,000 | 1,500,000 | 1,500,000 | - | - | |||||||||||||||
| Labor Obligations | 14,455 | 7,019 | 7,019 | (51.4 | ) | - | ||||||||||||||
| Non-Controlling Interest | 174,765 | 159,463 | 160,035 | (8.4 | ) | 0.4 | ||||||||||||||
| Stockholders’ Equity | 8,002,359 | 10,544,237 | 8,710,412 | 8.8 | (17.4 | ) | ||||||||||||||
| Total Liabilities and Stockholder’s Equity | 25,907,486 | 27,233,060 | 30,353,748 | 17.2 | 11.5 | |||||||||||||||
11
GrupoAeroportuario del Centro Norte, S.A.B. de C.V. UnauditedConsolidated Statement of Comprehensive Income |
(Thousandsof Pesos)
| 2Q24 | 2Q25 | % Var | 6M 2024 | 6M 2025 | % Var | |||||||||||||
| Revenues | ||||||||||||||||||
| Aeronautical Revenues | 2,204,274 | 2,579,238 | 17.0 | 4,258,211 | 4,916,554 | 15.5 | ||||||||||||
| Non-Aeronautical Revenues | 739,627 | 858,310 | 16.0 | 1,424,886 | 1,686,910 | 18.4 | ||||||||||||
| Aeronautical Revenues + Non-Aeronautical Revenues | 2,943,901 | 3,437,548 | 16.8 | 5,683,097 | 6,603,464 | 16.2 | ||||||||||||
| Construction Revenues | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||
| Total Revenues | 3,499,856 | 4,353,173 | 24.4 | 7,254,900 | 7,921,986 | 9.2 | ||||||||||||
| Operating Costs | ||||||||||||||||||
| Cost of Services | 295,297 | 307,356 | 4.1 | 550,944 | 572,615 | 3.9 | ||||||||||||
| Administrative Expenses | 196,097 | 217,275 | 10.8 | 369,380 | 424,982 | 15.1 | ||||||||||||
| Major Maintenance Provision | 43,003 | 50,366 | 17.1 | 114,351 | 103,801 | (9.2 | ) | |||||||||||
| Construction Costs | 555,955 | 915,625 | 64.7 | 1,571,803 | 1,318,522 | (16.1 | ) | |||||||||||
| Concession Taxes | 239,252 | 282,631 | 18.1 | 462,713 | 541,795 | 17.1 | ||||||||||||
| Technical Assistance Fee | 55,784 | 67,039 | 20.2 | 108,387 | 128,600 | 18.6 | ||||||||||||
| Depreciation and Amortization | 186,069 | 217,548 | 16.9 | 364,966 | 425,161 | 16.5 | ||||||||||||
| Other expenses (Revenues) - Net | (22 | ) | (601 | ) | n.a. | (9,083 | ) | (643 | ) | n.a. | ||||||||
| Total Operating Costs and Expenses | 1,571,435 | 2,057,239 | 30.9 | 3,533,461 | 3,514,833 | (0.5 | ) | |||||||||||
| Operating Income | 1,928,421 | 2,295,934 | 19.1 | 3,721,439 | 4,407,153 | 18.4 | ||||||||||||
| Operating Margin (%) | 55.1 | % | 52.7 | % | 51.3 | % | 55.6 | % | ||||||||||
| Financing (Expense) Income: | ||||||||||||||||||
| Interest Income | 62,497 | 34,700 | (44.5 | ) | 151,128 | 77,751 | (48.6 | ) | ||||||||||
| Interest (Expense) | (231,716 | ) | (415,643 | ) | 79.4 | (577,920 | ) | (759,668 | ) | 31.4 | ||||||||
| Exchange Gain (Loss) - Net | 35,561 | (27,078 | ) | n.a. | 17,002 | (38,419 | ) | n.a. | ||||||||||
| Total Financing (Expense) Income | (133,658 | ) | (408,021 | ) | 205.3 | (409,790 | ) | (720,336 | ) | 75.8 | ||||||||
| Income before Taxes | 1,794,763 | 1,887,913 | 5.2 | 3,311,649 | 3,686,817 | 11.3 | ||||||||||||
| Taxes - Cash | 497,976 | 621,964 | 24.9 | 1,004,404 | 1,150,025 | 14.5 | ||||||||||||
| Taxes - Deferred | 5,074 | (74,587 | ) | n.a. | (63,665 | ) | (95,510 | ) | 50.0 | |||||||||
| Income Tax | 503,050 | 547,377 | 8.8 | 940,739 | 1,054,515 | 12.1 | ||||||||||||
| Consolidated Net Income | 1,291,713 | 1,340,536 | 3.8 | 2,370,910 | 2,632,302 | 11.0 | ||||||||||||
| Consolidated Comprehensive Income | 1,291,713 | 1,340,536 | 3.8 | 2,370,910 | 2,632,302 | 11.0 | ||||||||||||
| Consolidated Net Income attributable to: | ||||||||||||||||||
| Non-Controlling Interest | 4,353 | 5,064 | 16.3 | 6,722 | 12,172 | 81.1 | ||||||||||||
| Controlling Interest | 1,287,360 | 1,335,472 | 3.7 | 2,364,188 | 2,620,130 | 10.8 | ||||||||||||
| Consolidated Comprehensive Income attributable to: | ||||||||||||||||||
| Non-Controlling Interest | 4,353 | 5,064 | 16.3 | 6,722 | 12,172 | 81.1 | ||||||||||||
| Controlling Interest | 1,287,360 | 1,335,472 | 3.7 | 2,364,188 | 2,620,130 | 10.8 | ||||||||||||
| Weighted Average Shares Outstanding | 386,169,425 | 386,169,425 | 386,169,425 | 386,169,425 | ||||||||||||||
| EPS (Ps.) | 3.33 | 3.46 | 3.7 | 6.12 | 6.78 | 10.8 | ||||||||||||
| EPADS (US$) | 1.45 | 1.47 | 1.1 | 2.67 | 2.88 | 8.1 | ||||||||||||
| EBITDA | 2,114,490 | 2,513,482 | 18.9 | 4,086,405 | 4,832,314 | 18.3 | ||||||||||||
| EBITDA Margin (%) | 60.4 | % | 57.7 | % | 56.3 | % | 61.0 | % | ||||||||||
| Adjusted EBITDA | 2,157,493 | 2,563,848 | 18.8 | 4,200,756 | 4,936,115 | 17.5 | ||||||||||||
| Adjusted EBITDA Margin (%) | 73.3 | % | 74.6 | % | 73.9 | % | 74.8 | % |
12
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Consolidated Cash Flow Statement |
(Thousandsof Pesos)
| From April 1 to June 30, | From January 1 to June 30, | |||||||||||||||||||||||
| 2024 | 2025 | % Var. | 2024 | 2025 | % Var. | |||||||||||||||||||
| Operating Activities | ||||||||||||||||||||||||
| Income Before Taxes | 1,794,763 | 1,887,913 | 5.2 | 3,311,649 | 3,686,817 | 11.3 | ||||||||||||||||||
| Depreciation and Amortization | 186,069 | 217,549 | 16.9 | 364,966 | 425,161 | 16.5 | ||||||||||||||||||
| Major Maintenance Provision | 43,003 | 50,366 | 17.1 | 114,351 | 103,801 | (9.2 | ) | |||||||||||||||||
| Doubtful Accounts Provision | 796 | 3,649 | 358.5 | 1,528 | 5,543 | 262.8 | ||||||||||||||||||
| (Profit) / Loss on Sales of Machinery and Equipment - Net | (22 | ) | (261 | ) | n.a. | (161 | ) | (267 | ) | 66.1 | ||||||||||||||
| Interest Income | (62,497 | ) | (34,700 | ) | (44.5 | ) | (151,128 | ) | (77,751 | ) | (48.6 | ) | ||||||||||||
| Items in Results Related to Financing Activities | ||||||||||||||||||||||||
| Changes in Present Value of Financial Leases | 4,802 | 3,698 | (23.0 | ) | 10,418 | 8,559 | (17.8 | ) | ||||||||||||||||
| Changes in Present Value of Major Maintenance Provision | (55,265 | ) | 130,138 | n.a. | 2,979 | 183,586 | n.a. | |||||||||||||||||
| Interest Expense from Bank and Issued Debt | 282,178 | 281,807 | (0.1 | ) | 564,523 | 567,523 | 0.5 | |||||||||||||||||
| Interest (Expense) | 231,716 | 415,644 | 79.4 | 577,920 | 759,668 | 31.4 | ||||||||||||||||||
| Exchange Fluctuation | (24,805 | ) | 18,963 | n.a. | (18,854 | ) | 26,189 | n.a. | ||||||||||||||||
| 2,169,022 | 2,559,123 | 18.0 | 4,200,271 | 4,929,161 | 17.4 | |||||||||||||||||||
| Changes in: | ||||||||||||||||||||||||
| Trade Accounts Receivable - Net | (386,802 | ) | (99,637 | ) | (74.2 | ) | (337,921 | ) | (55,073 | ) | (83.7 | ) | ||||||||||||
| Recoverable Taxes | 21,348 | 108,199 | 406.8 | 30,659 | 147,350 | 380.6 | ||||||||||||||||||
| Other Accounts Receivable | (93,227 | ) | (4,450 | ) | (95.2 | ) | 25,270 | (9,693 | ) | n.a. | ||||||||||||||
| Accounts Payable | (80,268 | ) | (77,516 | ) | (3.4 | ) | (196,369 | ) | (68,765 | ) | (65.0 | ) | ||||||||||||
| Taxes and Accrued Expenses | 76,337 | (137,868 | ) | n.a. | 133,231 | (87,791 | ) | n.a. | ||||||||||||||||
| Taxes Paid | (473,129 | ) | (382,309 | ) | (19.2 | ) | (1,078,003 | ) | (1,022,962 | ) | (5.1 | ) | ||||||||||||
| Accounts Payable to Related Parties | (144,984 | ) | (135,013 | ) | (6.9 | ) | (94,300 | ) | (80,725 | ) | (14.4 | ) | ||||||||||||
| Major Maintenance Payments | (55,252 | ) | (16,457 | ) | (70.2 | ) | (130,575 | ) | (33,489 | ) | (74.4 | ) | ||||||||||||
| Other Long-Term Liabilities | 9,261 | 4,910 | (47.0 | ) | 21,147 | 19,208 | (9.2 | ) | ||||||||||||||||
| Net Flow from Operating Activities | 1,042,306 | 1,818,981 | 74.5 | 2,573,410 | 3,737,221 | 45.2 | ||||||||||||||||||
| Investment Activities | ||||||||||||||||||||||||
| Acquisition of Property, Plant and Equipment | (123,581 | ) | (28,639 | ) | (76.8 | ) | (170,976 | ) | (63,954 | ) | (62.6 | ) | ||||||||||||
| Investment in Airport Concessions | (473,058 | ) | (577,479 | ) | 22.1 | (928,150 | ) | (1,365,782 | ) | 47.2 | ||||||||||||||
| Other Long-Term Assets | (10,063 | ) | (3,632 | ) | (63.9 | ) | (21,388 | ) | (4,490 | ) | (79.0 | ) | ||||||||||||
| Proceeds from Sale of Land, Machinery and Equipment | 22 | 261 | n.a. | 161 | 267 | 66.1 | ||||||||||||||||||
| Interest income | 62,497 | 34,700 | (44.5 | ) | 151,128 | 77,751 | (48.6 | ) | ||||||||||||||||
| Net Flow from Investing Activities | (544,183 | ) | (574,789 | ) | 5.6 | (969,225 | ) | (1,356,208 | ) | 39.9 | ||||||||||||||
| Cash Flow before Financing Activities | 498,123 | 1,244,192 | 149.8 | 1,604,185 | 2,381,014 | 48.4 | ||||||||||||||||||
| Financing Activities | ||||||||||||||||||||||||
| Bank Loans - Received | - | 300,000 | n.a. | - | 300,000 | n.a. | ||||||||||||||||||
| Bank Loans - Paid | - | (750,000 | ) | n.a. | - | (900,000 | ) | n.a. | ||||||||||||||||
| Debt Issuance | - | 2,750,000 | n.a. | - | 2,750,000 | n.a. | ||||||||||||||||||
| Debt Issuance Expenses | - | (9,713 | ) | n.a. | - | (9,713 | ) | n.a. | ||||||||||||||||
| Related-party Loans - Received | 49,000 | 44,100 | (10.0 | ) | 98,000 | 44,100 | (55.0 | ) | ||||||||||||||||
| Interest Expense | (280,892 | ) | (218,192 | ) | (22.3 | ) | (561,952 | ) | (570,519 | ) | 1.5 | |||||||||||||
| Increase in the Non-Controlling Interest | - | (11,600 | ) | n.a. | - | (11,600 | ) | n.a. | ||||||||||||||||
| Dividends Paid | (2,103,527 | ) | (2,227,264 | ) | 5.9 | (2,103,527 | ) | (2,227,264 | ) | 5.9 | ||||||||||||||
| Payment of Financial Leases | (16,171 | ) | (15,417 | ) | (4.7 | ) | (21,784 | ) | (32,499 | ) | 49.2 | |||||||||||||
| Net Cash Flow from Financing Activities | (2,351,590 | ) | (138,086 | ) | (94.1 | ) | (2,589,262 | ) | (657,495 | ) | (74.6 | ) | ||||||||||||
| Net Increase (Reduction) in Cash and Cash Equivalents | (1,853,467 | ) | 1,106,106 | n.a. | (985,077 | ) | 1,723,519 | n.a. | ||||||||||||||||
| Effects of changes in the value of cash | 24,805 | (18,931 | ) | n.a. | 18,854 | (26,189 | ) | n.a. | ||||||||||||||||
| Cash and Equivalents at Beginning of Period | 3,438,695 | 2,266,520 | (34.1 | ) | 2,576,256 | 1,656,365 | (35.7 | ) | ||||||||||||||||
| Cash and Equivalents at End of Period | 1,610,033 | 3,353,695 | 108.3 | 1,610,033 | 3,353,695 | 108.3 | ||||||||||||||||||
13
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Statement of Changes in Stockholders’ Equity As of June 30, 2024 (Thousand Pesos) |
| Additional | Share | Non- | Total | |||||||||||||||||||||||||||||
| Number of | Capital stock | Paid-In | Retained | Repurchase | Labor | Controlling | Stockholder’s | |||||||||||||||||||||||||
| Shares | Nominal | Capital | Earnings | Reserve | Obligations | Interest | Equity | |||||||||||||||||||||||||
| Balance as of December 31, 2023 | 386,169,425 | 297,782 | 29,786 | 7,828,436 | 1,500,000 | 14,455 | 168,043 | 9,838,502 | ||||||||||||||||||||||||
| Dividends Declared | - | - | - | (4,207,053 | ) | - | - | - | (4,207,053 | ) | ||||||||||||||||||||||
| Comprehensive Income (Loss) | - | - | - | 2,364,188 | - | - | 6,722 | 2,370,910 | ||||||||||||||||||||||||
| Balance as of June 30, 2024 | 386,169,425 | 297,782 | 29,786 | 5,985,571 | 1,500,000 | 14,455 | 174,765 | 8,002,359 | ||||||||||||||||||||||||
GrupoAeroportuario del Centro Norte, S.A.B. de C.V. As of June 30, 2025 (Thousand Pesos) |
| Additional | Share | Non- | Total | |||||||||||||||||||||||||||||
| Number of | Capital stock | Paid-in | Retained | Repurchase | Labor | Controlling | Stockholder’s | |||||||||||||||||||||||||
| Shares | Nominal | Capital | Earnings | Reserve | Obligations | Interest | Equity | |||||||||||||||||||||||||
| Balance as of December 31, 2024 | 386,169,425 | 297,782 | 29,786 | 8,550,187 | 1,500,000 | 7,019 | 159,463 | 10,544,237 | ||||||||||||||||||||||||
| Capital Reimbursement | - | - | - | - | - | - | (2,460 | ) | (2,460 | ) | ||||||||||||||||||||||
| Dividends Declared | - | - | - | (4,454,527 | ) | - | - | (9,140 | ) | (4,463,667 | ) | |||||||||||||||||||||
| Comprehensive Income (Loss) | - | - | - | 2,620,130 | - | - | 12,172 | 2,632,302 | ||||||||||||||||||||||||
| Balance as of June 30, 2025 | 386,169,425 | 297,782 | 29,786 | 6,715,790 | 1,500,000 | 7,019 | 160,035 | 8,710,412 | ||||||||||||||||||||||||
14
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. Unaudited Operating Results by Airport |
(Thousandsof Pesos)
| Monterrey | 2Q24 | 2Q25 | 6M 2024 | 6M 2025 | Culiacán | 2Q24 | 2Q25 | 6M 2024 | 6M 2025 | |||||||||||
| Total Revenues | 1,651,221 | 2,382,343 | 3,212,803 | 3,907,674 | Total Revenues | 255,625 | 262,728 | 590,744 | 482,906 | |||||||||||
| Aeronautical Revenues | 1,073,265 | 1,367,961 | 2,020,558 | 2,476,903 | Aeronautical Revenues | 202,340 | 204,363 | 364,573 | 397,538 | |||||||||||
| Non-Aeronatical Revenues | 217,260 | 259,590 | 431,661 | 507,381 | Non-Aeronatical Revenues | 18,064 | 20,000 | 35,019 | 40,657 | |||||||||||
| Construction Revenues | 360,697 | 754,792 | 760,583 | 923,390 | Construction Revenues | 35,221 | 38,365 | 191,152 | 44,711 | |||||||||||
| Income from Operations | 366,238 | 597,228 | 551,309 | 969,922 | Income from Operations | 37,541 | 57,447 | 55,460 | 117,440 | |||||||||||
| EBITDA | 433,289 | 674,100 | 684,901 | 1,121,890 | EBITDA | 44,126 | 71,269 | 68,821 | 138,300 | |||||||||||
| Chihuahua | Ciudad Juárez | |||||||||||||||||||
| Total Revenues | 203,394 | 224,570 | 529,662 | 449,253 | Total Revenues | 221,716 | 256,590 | 466,911 | 546,808 | |||||||||||
| Aeronautical Revenues | 160,527 | 181,528 | 312,218 | 338,884 | Aeronautical Revenues | 176,916 | 194,354 | 328,318 | 365,472 | |||||||||||
| Non-Aeronatical Revenues | 18,961 | 21,241 | 36,734 | 40,923 | Non-Aeronatical Revenues | 13,360 | 20,985 | 27,508 | 41,725 | |||||||||||
| Construction Revenues | 23,907 | 21,801 | 180,710 | 69,446 | Construction Revenues | 31,441 | 41,251 | 111,085 | 139,611 | |||||||||||
| Income from Operations | 40,732 | 67,739 | 83,893 | 113,782 | Income from Operations | 41,323 | 74,401 | 71,863 | 127,830 | |||||||||||
| EBITDA | 49,401 | 78,430 | 99,985 | 134,856 | EBITDA | 51,116 | 87,152 | 90,806 | 153,162 | |||||||||||
| Mazatlán | Zihuatanejo | |||||||||||||||||||
| Total Revenues | 203,903 | 194,469 | 491,923 | 452,609 | Total Revenues | 61,987 | 88,490 | 241,373 | 212,206 | |||||||||||
| Aeronautical Revenues | 166,558 | 161,878 | 373,531 | 372,994 | Aeronautical Revenues | 47,783 | 63,180 | 158,064 | 170,452 | |||||||||||
| Non-Aeronatical Revenues | 17,588 | 19,830 | 34,238 | 43,185 | Non-Aeronatical Revenues | 8,185 | 9,372 | 15,484 | 21,313 | |||||||||||
| Construction Revenues | 19,758 | 12,762 | 84,154 | 36,430 | Construction Revenues | 6,019 | 15,938 | 67,826 | 20,441 | |||||||||||
| Income from Operations | 47,717 | 34,236 | 148,842 | 125,088 | Income from Operations | (4,408 | ) | 13,361 | 58,317 | 71,399 | ||||||||||
| EBITDA | 53,789 | 41,275 | 160,823 | 138,288 | EBITDA | 1,689 | 21,641 | 70,482 | 88,004 | |||||||||||
| Acapulco | Other six airports | |||||||||||||||||||
| Total Revenues | 67,382 | 70,553 | 141,923 | 151,328 | Total Revenues | 451,391 | 446,764 | 859,920 | 885,814 | |||||||||||
| Aeronautical Revenues | 57,890 | 61,195 | 104,029 | 134,231 | Aeronautical Revenues | 339,251 | 369,619 | 640,170 | 708,053 | |||||||||||
| Non-Aeronatical Revenues | 5,476 | 8,752 | 10,284 | 15,916 | Non-Aeronatical Revenues | 37,243 | 47,035 | 71,068 | 94,448 | |||||||||||
| Construction Revenues | 4,016 | 606 | 27,611 | 1,181 | Construction Revenues | 74,897 | 30,111 | 148,682 | 83,312 | |||||||||||
| Income from Operations | (1,364 | ) | 22,956 | (530 | ) | 56,957 | Income from Operations | 94,519 | 133,295 | 175,412 | 239,673 | |||||||||
| EBITDA | 10,598 | 35,338 | 23,437 | 81,756 | EBITDA | 125,250 | 167,286 | 236,071 | 307,374 | |||||||||||
| Consorcio Grupo Hotelero T2 (1) | Consorcio Hotelero Aeropuerto Monterrey (1) | |||||||||||||||||||
| Revenues | 76,565 | 79,143 | 153,358 | 161,881 | Revenues | 33,504 | 35,330 | 65,264 | 71,964 | |||||||||||
| Income from Operations | 20,797 | 21,833 | 42,101 | 45,390 | Income from Operations | 10,928 | 11,699 | 21,799 | 25,299 | |||||||||||
| EBITDA | 34,472 | 36,060 | 69,499 | 73,844 | EBITDA | 13,864 | 14,731 | 27,671 | 31,356 | |||||||||||
| OMA VYNMSA Aero Industrial Park | ||||||||||||||||||||
| Revenues | 27,557 | 55,405 | 69,817 | 114,521 | (1) Includes results of other equity-method subsidiaries | |||||||||||||||
| Income from Operations | 15,812 | 36,259 | 40,933 | 77,145 | ||||||||||||||||
| EBITDA | 27,224 | 47,742 | 64,429 | 100,112 | ||||||||||||||||
15
Notesto the Financial Information
Financialstatements are prepared in accordance with International Financial Reporting Standards (“IFRS”), and presented inaccordance with IAS 34 “Interim Financial Reporting.” For more information, please refer to our Quarterly FinancialInformation submitted to the Mexican Stock Exchange (www.bmv.com.mx)
Unlessstated otherwise, all comparisons of operating or financial results are made with respect to the comparable period of 2024. Theexchange rates used to convert foreign currency amounts were Ps.18.3773 as of June 30, 2024, and Ps.18.8483 as of June 30, 2025.
Constructionrevenue, construction cost: IFRIC 12 “Service Concession Arrangements” addresses how service concession operatorsshould account for the obligations they undertake and rights they receive in service concession arrangements. The concession contractsfor each of OMA’s airport subsidiaries establishes that the concessionaire is obligated to carry out improvements to theinfrastructure transferred in exchange for the rights over the concession granted by the Federal Government. The latter will receiveall the assets at the end of the concession period. As a result, the concessionaire should recognize, using the percentage ofcompletion method, the revenues and costs associated with the improvements to the concessioned assets. The amount of the revenuesand costs so recognized should be the price that the concessionaire pays or would pay in an arm’s length transaction forthe execution of the works or the purchase of machinery and equipment, with no profit recognized for the construction or improvement.The application of IFRIC 12 does not affect operating income, net income, or EBITDA, but does affect calculations of margins basedon total revenues.
Capitalinvestments: includes investments in fixed assets (including investments in land, machinery, and equipment) and improvementsto concessioned properties under the Master Development Plan (MDP) plus strategic investments.
StrategicInvestments: Refers only to those capital investments additional to the Master Development Program.
Passengersand Terminal passengers: All references to passenger traffic volumes are to Terminal passengers, which includes passengerson the three types of aviation (commercial, charter, and general aviation), and excludes passengers in transit. The definitionof terminal passengers of OMA may differ from the definition utilized by its shareholder VINCI Airports.
AdjustedEBITDA and Adjusted EBITDA margin: OMA defines Adjusted EBITDA as EBITDA less construction revenue plus construction expenseand maintenance provision. We calculate the Adjusted EBITDA margin as Adjusted EBITDA divided by the sum of aeronautical revenueand non-aeronautical revenue. Construction revenue and construction cost do not affect cash flow generation and the maintenanceprovision corresponds to capital investments. OMA defines EBITDA as net income minus net comprehensive financing income, taxes,and depreciation and amortization. Neither Adjusted EBITDA nor EBITDA should be considered as an alternative to net income asan indicator of our operating performance, or as an alternative to cash flow as an indicator of liquidity. It should be notedthat neither Adjusted EBITDA nor EBITDA is defined under IFRS, and may be calculated differently by different companies.
16
AnalystCoverage
Inaccordance with the requirements of the Mexican Stock Exchange, the analysts covering OMA are:
| Company | Name | Company | Name |
| Actinver Casa de Bolsa | Ramón Ortiz | Intercam Casa de Bolsa | Alejandra Marcos |
| Bank of America Merrill Lynch | Alan Macías | ITAÚ BBA | Pablo Ricalde |
| Barclays Bank PLC | Pablo Monsiváis | J.P. Morgan | Guilherme Mendes |
| BBVA | José Espitia | Monex | José Solano |
| Bradesco BBI | Rodolfo Ramos | Morgan Stanley | Jens Spiess |
| BTG Pactual | Lucas Marquiori | Santander | Abraham Fuentes |
| Citigroup | Stephen Trent | Scotiabank | Francisco Suárez |
| Goldman Sachs | Bruno Armorim | Signum Research | Eduardo Caballero |
| Grupo Bursátil Mexicano (GBM) | Ernst Anton Mortenkotter | UBS Brasil CCTVM | Alberto Valerio |
| HSBC | Cenk Orçan | Vector | Marco Montañez |
| Insight Investment Research | Robert Crimes |
AboutOMA
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA, operates 13 international airports in nine states of centraland northern Mexico. OMA’s airports serve Monterrey, Mexico’s third largest metropolitan area, the tourist destinationsof Acapulco, Mazatlán, and Zihuatanejo, and nine other regional centers and border cities. OMA also operates the NH CollectionHotel inside Terminal 2 of the Mexico City airport and the Hilton Garden Inn at the Monterrey airport. OMA employs over 1,200persons in order to offer passengers and clients airport and commercial services in facilities. OMA is listed on the Mexican StockExchange (OMA) and on the NASDAQ Global Select Market (OMAB). Since December 2022, OMA is part of VINCI Airports, the world´sleading private airport operator.
Webpage: www.oma.aero
X: http://twitter.com/OMAeropuertos
Facebook https://www.facebook.com/OMAeropuertos
17
Pursuant to the requirements of the SecuritiesExchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto dulyauthorized.
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. |
| By: | /s/ Ruffo Pérez Pliego | |
| Ruffo Pérez Pliego | ||
| Chief Financial Officer | ||
Dated July 28, 2025