\nCommencing 3Q18, the Company began reporting results of its Argentinean subsidiaries applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 (\u201cIAS 29\u201d), as detailed in Section\u201cHyperinflation Accounting in Argentina\u201d on page 23.\n<\/p>\n
Fourth Quarter 2024 Highlights<\/b><\/p>\n Full Year 2024 Highlights<\/b><\/p>\n CEO Message<\/b><\/p>\n \nCommenting on the results for the quarter Mr. Mart\u00edn Eurnekian, CEO of Corporaci\u00f3n Am\u00e9rica Airports, noted: \u201cOur fourth-quarter results reflect, once again, the strength of our diversified portfolio, which continues to support our solid performance despite the challenges we faced in Argentina. While total passenger traffic declined slightly in the quarter, we were encouraged by a notable rebound in domestic traffic in Argentina toward year-end, culminating in record-high passenger volumes in December. This positive momentum extended into the first months of 2025. International passenger traffic in Argentina performed particularly well during the quarter, increasing by more than 11% year-over-year and driving hard-currency revenue streams. This encouraging trend, combined with solid contributions from our operations in Italy, Uruguay, and Brazil, underscores the strength of our geographically diverse portfolio.<\/i><\/p>\n On the financial front, consolidated 4Q24 comparisons were affected by the sharp devaluation of the Argentine peso in December 2023 and the indemnification payment received in 4Q23, in connection with Natal termination. The latter also impacted comparability in the Brazil segment. Excluding these factors, revenues declined 0.6%, in line with lower passenger volumes. By contrast, revenue per passenger improved slightly, reflecting our focus on efficiency and commercial revenue growth. Importantly, all regions except Argentina, delivered positive year-over-year Adjusted EBITDA contributions, helping mitigate softness in the Argentine market, which has already shown signs of improvement in the first two months of 2025.<\/i><\/p>\n We are advancing key initiatives to enhance the passenger experience and drive commercial revenue growth across our network. In Argentina, we are expanding Ezeiza Airport’s duty-free arrivals area by over 50% to 1,100 square meters. In Uruguay, we inaugurated a new state-of-the art private aviation terminal at Punta del Este Airport, and the construction of a new covered parking facility at Montevideo Airport is progressing as planned. We are also advancing development projects in Armenia and Italy and remain active in exploring opportunities that align with our long-term growth strategy.<\/i><\/p>\n In conclusion, we remain committed to advancing our strategic growth plans while building on the strong results achieved throughout 2024. With a solid balance sheet and a net leverage ratio of 1.1x, we are well-positioned to support our growth initiatives while remaining committed to delivering long-term value for our shareholders.\u201d<\/i><\/p>\n\n
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