Corporacion America Airports S.A 6-K, filed May 20, 2022

Corporacion America Airports S.A. (CAAP)

6-K 2022-05-20 For: 2022-05-19

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Added on April 04, 2026

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Corporacion America Airports S.A filed this 6-K on May 20, 2022.

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Exhibit No.	Description

99.1	CAAP Unaudited Condensed Consolidated Interim Financial Statements for the three period ended March 31, 2022 and 2021.

	Corporación America Airports S.A.

	By:	/s/ Andres Zenarruza
	Name: Andres Zenarruza
	Title: Head of Legal

	By:	/s/ Jorge Arruda
	Name: Jorge Arruda
	Title: Chief Financial Officer

Date: May 19, 2022

			For the three-month period ended March 31,
			2022			2021
	Notes		Unaudited			Unaudited
Revenue		4		258,149			138,193
Cost of services		5		(177,942	)		(137,869	)
Gross profit				80,207			324
Selling, general and administrative expenses		6		(31,117	)		(19,335	)
Other operating income		7		3,565			1,636
Other operating expenses		7		(840	)		(9,185	)
Operating income / (loss)				51,815			(26,560	)
Share of loss in associates				(244	)		-
Income / (loss) before financial results and income tax				51,571			(26,560	)
Financial income		8		10,323			6,832
Financial loss		8		(56,491	)		(42,061	)
Inflation adjustment		8		13,988			(4,398	)
Income / (loss) before income tax				19,391			(66,187	)
Income tax		9		(5,600	)		(822	)
Income / (loss) for the period from continuing operations				13,791			(67,009	)
Loss for the period from discontinued operations		19		-			(455	)
Income / (loss) for the period				13,791			(67,464	)
Attributable to:
Owners of the parent				25,942			(44,063	)
Non-controlling interests				(12,151	)		(23,401	)
				13,791			(67,464	)
Earnings per share attributable to the owners of the parent
Weighted average number of ordinary shares (thousands)				160,737			160,147
Continuing operations
Basic and diluted earnings per share				0.16			(0.27	)
Continuing and discontinued operations
Basic and diluted earnings per share				0.16			(0.28	)
Discontinued operations
Basic and diluted earnings per share				-			(0.01	)

		For the three-month period ended March 31,
		2022			2021
		Unaudited			Unaudited
Income / (loss) for the period for the period			13,791			(67,464	)

Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit obligations			191			210
Items that may be reclassified to profit or loss:
Share of other comprehensive income / (loss) from associates			24			(128	)
Currency translation adjustment			(10,328	)		15,001
Other comprehensive (loss) / income from continuing operations for the period, net of income tax			(10,113	)		15,083
Currency translation adjustment from discontinued operations	19		-			(107	)
Other comprehensive loss from discontinued operations for the period, net of income tax			-			(107	)
Other comprehensive (loss) / income for the period			(10,113	)		14,976
Total comprehensive income / (loss) for the period			3,678			(52,488	)
Attributable to:
Owners of the parent			20,533			(32,646	)
Non-controlling interests			(16,855	)		(19,842	)
			3,678			(52,488	)

Total comprehensive income / (loss) for the period attributable to owners of the parent arises from:

Continuing operations			20,533			(32,084	)
Discontinued operations			-			(562	)
			20,533			(32,646	)

	Notes		At March 31, 2022 Unaudited			At December 31, 2021 Audited
ASSETS
Non-current assets
Intangible assets, net		10		2,905,399			2,742,971
Property, plant and equipment, net				73,421			75,480
Right-of-use assets				12,408			12,902
Investments in associates				2,379			2,355
Other financial assets at fair value through profit or loss				3,278			3,344
Other financial assets at amortized cost				15,876			15,838
Deferred tax assets				76,167			68,867
Other receivables				85,442			72,373
Trade receivables				114			184
				3,174,484			2,994,314
Current assets
Inventories				12,055			11,520
Other financial assets at fair value through profit or loss				127,474			28,499
Other financial assets at amortized cost				39,998			46,800
Other receivables				58,175			66,421
Current tax assets				12,308			14,450
Derivative financial instruments current assets				-			137
Trade receivables				93,225			82,707
Cash and cash equivalents		11		478,544			375,783
				821,779			626,317
Total assets				3,996,263			3,620,631

EQUITY		14
Share capital				163,223			163,223
Share premium				183,430			183,430
Treasury shares				(4,772	)		(4,772	)
Free distributable reserve				378,910			378,910
Non-distributable reserve				1,358,028			1,358,028
Currency translation adjustment				(327,118	)		(321,647	)
Legal reserves				1,081			1,081
Other reserves				(1,321,074	)		(1,321,211	)
Retained earnings				58,631			32,689
Total attributable to owners of the parent				490,339			469,731
Non-controlling interests				115,630			303,877
Total equity				605,969			773,608

LIABILITIES
Non-current liabilities
Borrowings		12		1,155,743			1,018,337
Deferred tax liabilities				239,731			227,421
Other liabilities		13		954,690			743,799
Lease liabilities				7,854			8,484
Trade payables				5,770			6,695
				2,363,788			2,004,736
Current liabilities
Borrowings		12		501,005			421,266
Other liabilities		13		395,576			284,826
Lease liabilities				3,776			3,765
Derivative financial instruments liabilities				516			-
Current tax liabilities				13,418			16,188
Trade payables				112,215			116,242
				1,026,506			842,287
Total liabilities				3,390,294			2,847,023
Total equity and liabilities				3,996,263			3,620,631

								Attributable to owners of the parent
	Share capital		Share premium		Treasury shares			Free distributable reserves		Non- distributable reserves		Legal reserves		Currency translation adjustment			Other reserves			Retained earnings (1)			Total			Non- controlling interests			Total
Balance at January 1, 2022		163,223		183,430		(4,772	)		378,910		1,358,028		1,081		(321,647	)		(1,321,211	)		32,689			469,731			303,877			773,608
Income / (loss) for the period		-		-		-			-		-		-		-			-			25,942			25,942			(12,151	)		13,791
Other comprehensive income / (loss) for the period		-		-		-			-		-		-		(5,471	)		62			-			(5,409	)		(4,704	)		(10,113	)
Share-based payments reserve (Note 14.a)		-		-		-			-		-		-		-			75			-			75			-			75
Redemption of preferred shares (Note 14.c)		-		-		-			-		-		-		-			-			-			-			(171,392	)		(171,392	)
Balance at March 31, 2022		163,223		183,430		(4,772	)		378,910		1,358,028		1,081		(327,118	)		(1,321,074	)		58,631			490,339			115,630			605,969

Balance at January 1, 2021		163,223		183,430		(6,145	)		378,910		1,358,028		176		(417,272	)		(1,321,142	)		150,202			489,410			315,876			805,286
Loss for the period		-		-		-			-		-		-		-			-			(44,063	)		(44,063	)		(23,401	)		(67,464	)
Other comprehensive income for the period		-		-		-			-		-		-		11,325			92			-			11,417			3,559			14,976
Share-based payments reserve (Note 14.a)		-		-		1,133			-		-		-		-			(1,800	)		667			-			-			-
Changes of non-controlling interests		-		-		-			-		-		-		-			-			-			-			642			642
Balance at March 31, 2021		163,223		183,430		(5,012	)		378,910		1,358,028		176		(405,947	)		(1,322,850	)		106,806			456,764			296,676			753,440

			For the three-month period ended March 31,
	Notes		2022 Unaudited			2021 Unaudited
Cash flows from operating activities
Income / (loss) for the period from continuing operations				13,791			(67,009	)
Adjustments for:
Amortization and depreciation				42,475			37,548
Deferred income tax		9		1,858			125
Current income tax		9		3,742			697
Loss on disposals of property, plant and equipment and intangible assets				201			-
Share of loss in associates				244			-
Unpaid concession fees				19,983			16,322
Low value, short term and variable lease payments				(363	)		(146	)
Changes in liability for concessions		8		38,157			24,046
Share-based compensation expenses				75			-
Collection of government grants				5,564			-
Interest expenses		8		51,278			28,493
Other financial results, net				(7,407	)		(4,502	)
Net foreign exchange		8		(36,252	)		(13,001	)
Other accruals				804			1,493
Inflation adjustment				(11,526	)		(1,722	)
Acquisition of intangible assets		10		(14,185	)		(27,759	)
Income tax paid				(4,161	)		(71	)
Changes in working capital		17		(60,964	)		1,673
Net cash provided by / (used in) operating activities				43,314			(3,813	)
Net cash used in discontinued operating activities				-			-
Cash flows from investing activities
Cash contribution in associates				(244	)		-
Net acquisition of subsidiaries				-			10
Acquisition of other financial assets				(109,405	)		(6,235	)
Disposals of other financial assets				20,237			7,697
Acquisition of property, plant and equipment				(1,349	)		(292	)
Acquisition of intangible assets		10		(328	)		(124	)
Proceeds from property, plant and equipment disposals				123			-
Other				220			4
Net cash (used in) / provided by investing activities				(90,746	)		1,060
Net cash used in discontinued investing activities		19		(2,600	)		-
Cash flows from financing activities
Proceeds from borrowings		12		253,059			53,826
Guarantee deposits				(668	)		(765	)
Principal elements of lease payments				(1,030	)		(1,227	)
Loans paid		12		(68,228	)		(56,268	)
Interest paid		12		(22,354	)		(7,576	)
Debt renegotiation expenses		12		(726	)		(225	)
Net cash provided by / (used in) financing activities				160,053			(12,235	)
Net cash used in discontinued financing activities				-			-

Increase / (decrease) in cash and cash equivalents				112,621			(14,988	)
Decrease in cash and cash equivalents from discontinued operations				(2,600	)		-
Movements in cash and cash equivalents
At the beginning of the period				375,783			281,031
Effects of exchange rate changes and inflation adjustment on cash and cash equivalents				(7,260	)		(10,171	)
Increase / (decrease) in cash and cash equivalents				112,621			(14,988	)
Decrease in cash and cash equivalents from discontinued operations				(2,600	)		-
At the end of the period		11		478,544			255,872

	1		General information and significant event of the period
	2		Basis of presentation and accounting policies
	3		Segment information
	4		Revenue
	5		Cost of services
	6		Selling, general and administrative expenses
	7		Other operating results
	8		Financial results, net
	9		Income tax
	10		Intangible assets, net
	11		Cash and cash equivalents
	12		Borrowings
	13		Other liabilities
	14		Equity
	15		Contingencies, commitments and restrictions on the distribution of profits
	16		Related party balances and transactions
	17		Cash flow disclosures
	18		Fair value measurement of financial instruments
	19		Discontinued operations
	20		Subsequent events

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the three- month period ended March 31, 2022 (Unaudited)	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment adjustments			Unallocated			Total
Aeronautical revenue ^(*)		64,284			-			8,124			-			11,036			-			10,358			15,691			9,865			-			-			119,358
Non-aeronautical revenue ^(*)
Commercial revenue		71,675			44			12,630			-			9,967			4,789			16,459			5,645			5,090			(2,485	)		770			124,584
Construction service revenue		11,268			-			-			-			603			-			337			-			1,485			-			-			13,693
Other revenue		-			-			-			-			2			-			-			-			512			(373	)		373			514
Cost of services		(97,311	)		(15	)		(15,965	)		-			(9,973	)		(3,324	)		(17,853	)		(12,772	)		(19,971	)		2,203			(2,961	)		(177,942	)
Gross profit / (loss)		49,916			29			4,789			-			11,635			1,465			9,301			8,564			(3,019	)		(655	)		(1,818	)		80,207
Selling, general and administrative expenses		(12,514	)		(30	)		(3,935	)		(21	)		(2,714	)		(415	)		(2,960	)		(3,618	)		(3,224	)		655			(2,341	)		(31,117	)
Other operating income		3,354			-			46			-			31			-			21			7			100			-			6			3,565
Other operating expenses		(348	)		-			(309	)		-			(35	)		(2	)		(142	)		(4	)		-			-			-			(840	)
Operating income / (loss)		40,408			(1	)		591			(21	)		8,917			1,048			6,220			4,949			(6,143	)		-			(4,153	)		51,815
Share of loss in associates		-			-			-			-			-			-			-			-			-			-			(244	)		(244	)
Amortization and depreciation		21,397			-			2,796			-			1,716			307			3,873			1,609			2,921			-			3,042			37,661
Adjusted Ebitda		61,805			(1	)		3,387			(21	)		10,633			1,355			10,093			6,558			(3,222	)		-			(1,355	)		89,232
Construction services revenue		(11,268	)		-			-			-			(603	)		-			(337	)		-			(1,485	)		-			-			(13,693	)
Construction services cost		11,231			-			-			-			603			-			327			-			1,113			-			-			13,274
Adjusted Ebitda excluding Construction services		61,768			(1	)		3,387			(21	)		10,633			1,355			10,083			6,558			(3,594	)		-			(1,355	)		88,813
Construction services revenue		11,268			-			-			-			603			-			337			-			1,485			-			-			13,693
Construction services cost		(11,231	)		-			-			-			(603	)		-			(327	)		-			(1,113	)		-			-			(13,274	)
Adjusted Ebitda		61,805			(1	)		3,387			(21	)		10,633			1,355			10,093			6,558			(3,222	)		-			(1,355	)		89,232
Financial income																																			10,323
Financial loss																																			(56,491	)
Inflation adjustment																																			13,988
Amortization and depreciation																																			(37,661	)
Income before income tax expense																																			19,391
Income tax																																			(5,600	)
Income from continuing operations																																			13,791
Loss from discontinued operations																																			-
Income for the period																																			13,791

March 31, 2022 (Unaudited)
Current assets		448,815			67			45,443			9			31,068			4,991			75,444			28,141			81,124			(66,396	)		173,073			821,779
Non-current assets		1,468,253			28			778,641			134			143,922			7,586			144,349			59,710			269,842			(768	)		302,787			3,174,484
Capital Expenditure		11,267			-			464			-			814			30			1,021			253			2,013			-			-			15,862
Current liabilities		403,151			27			405,233			-			14,365			3,142			38,297			20,002			110,493			(66,396	)		98,192			1,026,506
Non-current liabilities		927,129			-			799,422			-			60,341			1,686			31,250			18,257			131,678			(768	)		394,793			2,363,788

	For the three-month period ended March 31,
	2022 (Unaudited)		2021 (Unaudited)
Aeronautical revenue		119,358		42,814
Non-aeronautical revenue
Commercial revenue		124,584		67,780
Construction service revenue		13,693		27,387
Other revenue		514		212
		258,149		138,193
Timing of revenue recognition
Over time		192,055		113,193
At a point in time		12,101		2,636
Revenues accounted for under IFRS 16		53,993		22,364
Revenue		258,149		138,193

	For the three -month period ended March 31,
	2022 (Unaudited)			2021 (Unaudited)
Interest income		9,381			5,651
Foreign exchange income		118			247
Other financial income		824			934
Financial income		10,323			6,832

Interest expense		(51,278	)		(28,493	)
Foreign exchange loss		36,134			12,754
Changes in liability for concessions		(38,157	)		(24,046	)
Other financial loss		(3,190	)		(2,276	)
Financial loss		(56,491	)		(42,061	)

Inflation adjustment		13,988			(4,398	)
Inflation adjustment		13,988			(4,398	)
Net financial results		(32,180	)		(39,627	)

	Concession Assets			Goodwill			Patent, intellectual property rights and others			Total
Cost
Balances at January 1, 2022		4,243,258			9,543			22,812			4,275,613
Acquisitions		14,185			-			328			14,513
Disposals		(238	)		-			-			(238	)
Transfers		(55	)		-			55			-
Transfer of concession assets to the grantor ^(*)		(7,956	)		-			-			(7,956	)
Transfer to property, plant and equipment		(2	)		-			-			(2	)
Translation differences and inflation adjustment		268,954			(183	)		71			268,842
		4,518,146			9,360			23,266			4,550,772
Depreciation
Accumulated at January 1, 2022		1,512,731			-			19,911			1,532,642
Depreciation of the period		38,844			-			248			39,092
Disposals		(38	)		-			-			(38	)
Transfer of concession assets to the grantor ^(*)		(1,504	)		-			-			(1,504	)
Translation differences and inflation adjustment		75,373			-			(192	)		75,181
		1,625,406			-			19,967			1,645,373
At March 31, 2022		2,892,740			9,360			3,299			2,905,399

Cost
Balances at January 1, 2021		3,855,479			5,733			23,489			3,884,701
Acquisition of business		-			4,501			663			5,164
Acquisitions		27,768			-			124			27,892
Disposals		(75	)		-			(348	)		(423	)
Transfer to property, plant and equipment		(6	)		-			-			(6	)
Translation differences and inflation adjustment		(69,146	)		(372	)		(1,152	)		(70,670	)
		3,814,020			9,862			22,776			3,846,658
Depreciation
Accumulated at January 1, 2021		1,247,384			-			20,833			1,268,217
Depreciation of the period		34,005			-			217			34,222
Disposals		(75	)		-			(348	)		(423	)
Translation differences and inflation adjustment		(8,029	)		-			(948	)		(8,977	)
		1,273,285			-			19,754			1,293,039
At March 31, 2021		2,540,735			9,862			3,022			2,553,619

	At March 31, 2022 (Unaudited)		At December 31, 2021 (Audited)
Cash to be deposited		567		356
Cash at banks		332,643		336,546
Time deposits		6,811		9,250
Other cash equivalents		138,523		29,631
		478,544		375,783

	At March 31, 2022 (Unaudited)		At December 31, 2021 (Audited)
Non-current
Bank and financial borrowings ^(**)		226,444		258,248
Notes ^(*)		929,299		760,089
		1,155,743		1,018,337
Current
Bank and financial borrowings ^(**)		413,195		354,023
Notes ^(*)		70,722		67,243
Overdrafts		17,088		-
		501,005		421,266
Total Borrowings		1,656,748		1,439,603

	For the three-month period ended March 31,
	2022 (Unaudited)			2021 (Unaudited)
Balances at the beginning of the period		1,439,603			1,344,817
Loans obtained		253,059			53,826
Loans paid		(68,228	)		(56,268	)
Interest paid		(22,354	)		(7,576	)
Accrued interest for the period		30,194			25,001
Debt renegotiation expenses capitalization		(726	)		(225	)
Translation differences and inflation adjustment		25,200			(36,066	)
Balances at the end of the period		1,656,748			1,323,509

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the three- month period ended March 31, 2021 (Unaudited)	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment adjustments			Unallocated			Total
Aeronautical revenue ^(*)		19,400			-			4,854			-			1,815			-			6,168			8,568			2,009			-			-			42,814
Non-aeronautical revenue ^(*)
Commercial revenue		42,268			44			7,655			-			3,971			3,836			4,880			3,710			2,883			(1,895	)		428			67,780
Construction service revenue		22,968			-			-			-			512			-			54			752			3,101			-			-			27,387
Other revenue		-			-			-			-			2			-			-			-			210			(114	)		114			212
Cost of services		(77,178	)		(13	)		(14,387	)		-			(8,149	)		(2,704	)		(7,985	)		(9,976	)		(16,090	)		1,638			(3,025	)		(137,869	)
Gross profit / (loss)		7,458			31			(1,878	)		-			(1,849	)		1,132			3,117			3,054			(7,887	)		(371	)		(2,483	)		324
Selling, general and administrative expenses		(6,029	)		(29	)		(2,532	)		(19	)		(1,618	)		(266	)		(2,310	)		(2,115	)		(2,895	)		371			(1,893	)		(19,335	)
Other operating income		1,521			-			45			-			40			15			13			2			-			-			-			1,636
Other operating expenses		(8,169	)		-			(393	)		-			(14	)		-			(215	)		(2	)		-			-			(392	)		(9,185	)
Operating income / (loss)		(5,219	)		2			(4,758	)		(19	)		(3,441	)		881			605			939			(10,782	)		-			(4,768	)		(26,560	)
Share of loss in associates		-			-			-			-			-			-			-			-			-			-			-			-
Amortization and depreciation		15,852			-			2,381			-			3,160			255			3,457			1,820			3,123			-			3,230			33,278
Adjusted Ebitda		10,633			2			(2,377	)		(19	)		(281	)		1,136			4,062			2,759			(7,659	)		-			(1,538	)		6,718
Construction services revenue		(22,968	)		-			-			-			(512	)		-			(54	)		(752	)		(3,101	)		-			-			(27,387	)
Construction services cost		22,945			-			-			-			512			-			52			752			2,683			-			-			26,944
Adjusted Ebitda excluding Construction services		10,610			2			(2,377	)		(19	)		(281	)		1,136			4,060			2,759			(8,077	)		-			(1,538	)		6,275
Construction services revenue		22,968			-			-			-			512			-			54			752			3,101			-			-			27,387
Construction services cost		(22,945	)		-			-			-			(512	)		-			(52	)		(752	)		(2,683	)		-			-			(26,944	)
Adjusted Ebitda		10,633			2			(2,377	)		(19	)		(281	)		1,136			4,062			2,759			(7,659	)		-			(1,538	)		6,718
Financial income																																			6,832
Financial loss																																			(42,061	)
Inflation adjustment																																			(4,398	)
Amortization and depreciation																																			(33,278	)
Loss before income tax expense																																			(66,187	)
Income tax																																			(822	)
Loss from continuing operations																																			(67,009	)
Loss from discontinued operations																																			(455	)
Loss for the period																																			(67,464	)

December 31, 2021 (Audited)
Current assets		232,737			82			41,384			27			21,436			4,264			71,315			43,357			101,116			(60,620	)		171,219			626,317
Non-current assets		1,395,707			27			670,006			114			144,164			7,863			148,838			57,798			274,947			(768	)		295,618			2,994,314
Capital Expenditure		53,501			-			1,838			-			5,511			2,556			7,629			779			19,927			-			-			91,741
Current liabilities		284,442			40			328,750			-			12,345			3,180			30,067			35,749			117,933			(60,620	)		90,401			842,287
Non-current liabilities		684,460			-			663,012			-			60,225			2,010			41,309			20,051			141,898			(768	)		392,539			2,004,736

	For the three-month period ended March 31,
	2022 (Unaudited)			2021 (Unaudited)
Salaries and social security contributions		(41,278	)		(30,210	)
Amortization and depreciation ⁽²⁾		(35,808	)		(31,153	)
Concession fees ⁽¹⁾		(34,630	)		(18,578	)
Maintenance expenses		(23,764	)		(15,708	)
Services and fees		(13,413	)		(9,177	)
Construction services cost		(13,274	)		(26,944	)
Cost of fuel		(10,558	)		(2,394	)
Office expenses		(1,589	)		(862	)
Taxes		(916	)		(733	)
Provision for maintenance costs		(874	)		(344	)
Others		(1,838	)		(1,766	)
		(177,942	)		(137,869	)

	For the three-month period ended March 31,
	2022 (Unaudited)			2021 (Unaudited)
Taxes ⁽¹⁾		(8,826	)		(4,421	)
Services and fees		(8,207	)		(6,627	)
Salaries and social security contributions		(6,693	)		(4,057	)
Amortization and depreciation ⁽²⁾		(1,853	)		(2,125	)
Insurance		(577	)		(534	)
Office expenses		(436	)		(296	)
Maintenance expenses		(362	)		(105	)
Advertising		(175	)		(122	)
Bad debts		(4,624	)		(2,314	)
Bad debts recovery		2,452			2,075
Other		(1,816	)		(809	)
		(31,117	)		(19,335	)

	1 year or less		1 - 2 years		2 – 5 years		Over 5 years		Total
At March 31, 2022 ⁽¹⁾		641,107		244,405		542,399		827,886		2,255,797
At December 31, 2021 ⁽¹⁾		524,338		232,950		500,228		711,660		1,969,176

Company	Note	Issuance	Currency	Nominal value (in millions of USD)	Maturity	Interest rate	Outstanding (in millions of USD)
ACI Airport Sudamérica S.A.U. (“ACI”)	Senior secured guarantee notes	November 2021	USD	246.2	November 2034	Fixed 6.875%	238.0
ACI Airport Sudamérica S.A.U. (“ACI”)	Senior secured guarantee notes	May 2015, May 2020 ⁽¹⁾	USD	14.1	November 2032	Fixed 6.875%	13.6
Corporación América Italia S.p.A. (“CAI”)	Secured notes	January 2020	Euros	71.8	December 2024	Fixed 4.556%	67.9
Aeropuertos Argentina 2000 S.A. (“AA2000”)	Senior secured guarantee notes	February 2017, May 2020 ⁽¹⁾	USD	212.3	February 2027	Fixed 6.875%	108.2
	Senior secured guarantee notes	October 2021	USD	208.9	August 2031	Fixed 8.5%	207.8
	Class 2 Notes Series 2020	August 2020	USD ⁽²⁾	40	August 2022	Fixed 0.00%	40.0
	Class 3 Notes	September 2021	USD ⁽²⁾	30.5	September 2023	Fixed 4.00%	30.4
	Class 1 Series 2021 Notes	November 2021	USD ⁽²⁾	64	August 2031	Fixed 8.5%	60.3
	Class 4 Notes	November 2021	USD	62	November 2028	Fixed 9.5%	59.8
	Class 5 Notes	February 2022	USD ⁽²⁾	138	February 2032	Fixed 5.5%	138.2
	Class 6 Notes	February 2022	USD ⁽²⁾	36	February 2025	Fixed 2.0%	35.8
Total							1,000.0

	-	USD 138 million of Class 5 Notes, with an annual interest rate of 5.5%, five-year grace period and quarterly amortization, starting May 2027. AA2000 will use these proceeds to fund infrastructure works in the Group “A” airports, within the National Airports System;
	-	USD 36 million of Class 6 Notes, with an interest rate of 2%, maturing in February 2025.

Company	Lender	Currency	Maturity	Interest Rate		Outstanding
Company	Lender	Currency	Maturity	Interest Rate		(In millions of USD)	Capitalization⁽²⁾
Inframerica Concessionaria do Aeroporto Sao Goncalo do Amarante S.A.	BNDES	R$	September 2032	Variable	TJLP⁽¹⁾plus spread	7.5	A
	BNDES	R$	June 2032	Variable	T.R. plus spread plus IPCA	2.1
	BNDES	R$	September 2032	Variable	T.R. plus spread plus IPCA	5.7
	BNDES	R$	September 2022	Fixed	2.50%	0.2
	BNDES	R$	July 2032	Variable	T.R. plus spread plus IPCA	2.8
Inframerica Concessionaria do Aeroporto de Brasilia S.A.	BNDES	R$	December 2033	Variable	TJLP⁽¹⁾plus spread	236.7	A
	Bradesco	R$	July 2022	Variable	TJLP⁽¹⁾plus spread	0.1	D
	Votorantim	R$	March 2023	Variable	CDI plus spread	2.7	C
Terminal Aeroportuaria de Guayaquil S.A	Banco Guayaquil SA	USD	February 2026	Variable	T.R.E.⁽³⁾plus spread	7.1	D
	Banco Guayaquil SA	USD	December 2025	Variable	T.R.E.⁽³⁾plus spread	2.6	D
	Banco Bolivariano CA	USD	December 2025	Variable	T.R.E.⁽³⁾plus spread	6.7	D
	Banco Bolivariano CA	USD	November 2024	Variable	T.R.E.⁽³⁾plus spread	5.0	D
Terminal de Cargas de Uruguay S.A.	Santander Uruguay	USD	April 2023	Fixed	4.40%	0.6	D
	Scotiabank Uruguay	USD	October 2024	Fixed	4.30%	1.3	D
	Scotiabank Uruguay	USD	February 2026	Fixed	4.30%	1.0	D
Toscana Aeroporti S.p.A.	MPS Servicio capital	Euro	June 2022	Variable	Euribor 6 month plus spread	1.1	B
	Banco de Innovación de Infraestructuras y Desarrollo	Euro	September 2027	Variable	Euribor 6 month plus spread	17.6	D
	BPM	Euro	December 2023	Fixed	1.65%	0.2	D
	Unicredit	Euro	September 2022	Fixed	1.50%	9.4	D
	Unicredit	Euro	May 2022	Fixed	0.75%	1.1	D
	BNL	Euro	April 2022	Fixed	0.60%	5.6	D
	ISP-SACE	Euro	September 2026	Variable	Euribor 3 month plus spread	94.2	D
	BPM	Euro	June 2023	Variable	Euribor 3 month plus spread	0.2	D
	BPM	Euro	June 2024	Variable	Euribor 3 month plus spread	0.3	D
	BPM	Euro	July 2022	Fixed	0.50%	3.9	D
	MPS Servicio capital	Euro	September 2022	Fixed	0.35%	12.2	D
	Banca Intesa San Paolo	Euro	March 2023	Fixed	1.60%	12.2	D
Armenia International Airports C.J.S.C.	Ameriabank C.J.S.C.	USD	June 2024	Variable	Libor 6 month plus spread ⁽⁶⁾	31.4	B
	Ameriabank C.J.S.C.	Euro	June 2024	Variable	Euribor 6 month plus spread	32.3	B
	HSBC Bank Armenia C.J.S.C.	Dram	June 2022	Fixed	11.00% ⁽⁴⁾	0.1	D
Aeropuerto de Neuquén S.A.	Banco Macro	ARS	November 2024	Variable	BADLAR plus spread	2.1	A
Aeropuertos Argentina 2000 S.A.	Banco de la Provincia de Buenos Aires	USD	July 2024	Fixed	7.00%	0.1	D
	Industrial and Commercial Bank of China (Argentina) S.A., Banco Galicia and Buenos Aires S.A.U. and Banco Santander Río S.A. (5)	USD	August 2022	Fixed	9.75%	19.1	A
	Onshore renegotiation	ARS	November 2024	Variable	BADCOR plus spread	31.1	A
	Onshore renegotiation - ICBC	USD	November 2024	Fixed	8.50%	14.0	A
	Citibank N.A. (5)	USD	February 2023	Variable	SOFR plus spread	12.5	A
	Offshore renegotiation	ARS	November 2024	Variable	BADCOR plus spread	16.2	A
	Eurobank	USD	March 2024	Fixed	8.00% - 9.00%	1.1	C
	Banco Ciudad	USD	November 2023	Fixed	6.00%	5.0	B
	Banco Macro	USD	December 2022	Fixed	7.75%	10.1	B
Consorcio Aeropuertos Internacionales S.A.	Santander Uruguay	USD	April 2027	Fixed	5.10%	7.1	B
Consorcio Aeropuertos Internacionales S.A.	Banco Itaú	USD	April 2027	Fixed	3.80%	7.1	B
Puerta del Sur S.A.	Banco de la República Oriental del Uruguay	USD	March 2028	Fixed	3.11%	10.0	C
Others						0.2
Total						639.6

	At March 31, 2022 (Unaudited)		At December 31, 2021 (Audited)
Non-current
Concession fee payable ⁽¹⁾		798,926		657,682
Advances from customers		16,839		14,475
Provisions for legal claims ⁽⁴⁾		8,279		8,132
Provision for maintenance costs ⁽²⁾		19,161		19,239
Other taxes payable		1,706		2,058
Employee benefit obligation ⁽³⁾		7,607		7,990
Salary payable		282		263
Other liabilities with related parties (Note 16)		1,496		1,308
Redemption of preferred shares ⁽⁵⁾		71,721		-
Other payables		28,673		32,652
		954,690		743,799

Current
Concession fee payable ⁽¹⁾		178,727		167,352
Other taxes payable		12,400		19,998
Salary payable		37,272		32,843
Other liabilities with related parties (Note 16)		2,467		1,049
Advances from customers		5,092		4,718
Provision for maintenance costs ⁽²⁾		2,288		2,432
Expenses provisions		1,284		1,879
Provision for legal claims ⁽⁴⁾		3,864		3,714
Redemption of preferred shares ⁽⁵⁾		99,991		-
Other payables		52,191		50,841
		395,576		284,826

	1 year or less		1 - 2 years		2 - 5 years		Over 5 years		Total
At March 31, 2022		397,958		123,157		347,170		1,594,409		2,462,694
At December 31, 2021		285,371		120,005		231,486		1,336,007		1,972,869

	For the three -month period ended March 31,
	2022 (Unaudited)			2021 (Unaudited)
Balances at the beginning of the period		825,034			741,704
Financial result		41,325			25,641
Concession fees		29,993			14,434
Payments		(45,846	)		(17,012	)
Other		(97	)		412
Translation differences and inflation adjustment		127,244			(64,522	)
Balances at the end of the period		977,653			700,657

	Currency translation adjustments			Remeasurement of defined benefit obligations (*)		Share of other comprehensive income from associates			Income tax effect ^(*)			Transfer from shareholders equity – currency translation differences		Total
Balances at January 1, 2022		(343,837	)		120		(41,212	)		(69	)		63,402		(321,596	)
Other comprehensive income / (loss) for the period		(5,495	)		80		24			(18	)		-		(5,409	)
For the period ended March 31, 2022		(349,332	)		200		(41,188	)		(87	)		63,402		(327,005	)

Balances at January 1, 2021		(439,407	)		92		(41,267	)		(39	)		63,402		(417,219	)
Other comprehensive income / (loss) for the period		11,453			121		(128	)		(29	)		-		11,417
For the period ended March 31, 2021		(427,954	)		213		(41,395	)		(68	)		63,402		(405,802	)

	At March 31, 2022 (Unaudited)			At December 31, 2021 (Audited)
Year-end balances
(a) Arising from sales / purchases of goods / other
Trade receivables with associates		166			1,839
Trade receivables with other related parties		4,049			1,899
Other receivables with other related parties		9,445			9,113
Other financial assets with associates		2,839			2,801
Other financial assets with other related parties		9,975			9,827
Trade payables to other related parties		(2,234	)		(2,879	)
		24,240			22,600
(b) Other liabilities
Other liabilities to other related parties		(3,963	)		(2,357	)
		(3,963	)		(2,357	)
(c) Other balances
Cash and cash equivalents in other related parties		18,617			21,591
		18,617			21,591

	For the three-month period ended March 31,
Transactions	2022 (Unaudited)			2021 (Unaudited)
Aeronautical/Commercial revenue		1,940			1,071
Fees		(1,796	)		(1,326	)
Interest accruals		134			173
Acquisition of goods and services		(4,636	)		(1,701	)
Others		(1,083	)		(1,057	)

	Fair value		Carrying amount
Trust funds		67,157		59,241
Long-term borrowings		1,164,357		1,155,743