Corporacion America Airports S.A 6-K, filed Nov 20, 2024

Corporacion America Airports S.A. (CAAP)

6-K 2024-11-20 For: 2024-09-30

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Added on April 04, 2026

About this 6-K

Corporacion America Airports S.A filed this 6-K on November 20, 2024.

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Exhibit No.	Description
99.1	CAAP Unaudited Condensed Consolidated Interim Financial Statements for the three and nine-month period ended September 30, 2024 and 2023

			For the three-month period ended September 30,						For the nine-month period ended September 30,
	Notes		2024			2023			2024			2023
Revenue		4		461,809			469,543			1,369,855			1,273,771
Cost of services		5		(319,845	)		(294,561	)		(910,519	)		(819,021	)
Gross profit				141,964			174,982			459,336			454,750
Selling, general and administrative expenses		6		(47,111	)		(41,561	)		(140,174	)		(121,256	)
Impairment loss of non-financial assets				-			-			-			(47	)
Other operating income		7		7,702			5,650			22,517			19,700
Other operating expenses				(1,616	)		(7,414	)		(5,645	)		(9,145	)
Operating income				100,939			131,657			336,034			344,002
Share of loss in associates				(562	)		(1	)		(829	)		(90	)
Income before financial results and income tax				100,377			131,656			335,205			343,912
Financial income		8		15,921			25,386			55,070			55,623
Financial loss		8		(31,849	)		(66,671	)		153,118			(154,908	)
Inflation adjustment		8		(3,152	)		(19,174	)		(20,878	)		(32,996	)
Income before income tax				81,297			71,197			522,515			211,631
Income tax		9		(80,636	)		(18,505	)		(261,587	)		(54,500	)
Income for the period				661			52,692			260,928			157,131
Attributable to:
Owners of the parent				14,675			46,482			244,893			147,560
Non-controlling interests				(14,014	)		6,210			16,035			9,571
				661			52,692			260,928			157,131
Earnings per share for profit attributable to the ordinary equity holders of the Group:
Basic earnings per share				0.09			0.29			1.52			0.92
Diluted earnings per share				0.09			0.29			1.52			0.92

	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2024			2023			2024			2023
Income for the period		661			52,692			260,928			157,131

Items that will not be reclassified to loss or profit:
Remeasurements of defined benefit obligations		(28	)		16			63			31
Items that may be reclassified to profit or loss:
Changes in the fair value of the instruments used to hedge cash flows		(2,630	)		-			(2,630	)		-
Income tax impact		631			-			631			-
Share of other comprehensive income / (loss) from associates		39			(160	)		69			4
Currency translation adjustment		55,147			(14,344	)		429,253			7,502
Other comprehensive income / (loss) for the period, net of income tax		53,159			(14,488	)		427,386			7,537
Total comprehensive income for the period		53,820			38,204			688,314			164,668
Attributable to:
Owners of the parent		58,030			32,227			589,086			157,403
Non-controlling interests		(4,210	)		5,977			99,228			7,265
		53,820			38,204			688,314			164,668

	Notes		At September 30, 2024			At December 31, 2023
ASSETS
Non-current assets
Intangible assets, net		10		3,211,662			2,520,965
Property, plant and equipment, net				80,404			74,919
Right-of-use asset				11,039			10,493
Investments in associates				11,529			11,992
Other financial assets at fair value through profit or loss				2,671			5,979
Other financial assets at amortized cost				74,402			61,090
Derivative financial instruments				70			69
Deferred tax assets				13,331			62,712
Inventories				314			318
Other receivables				58,010			42,640
Trade receivables				206			889
				3,463,638			2,792,066
Current assets
Inventories				9,963			16,148
Other financial assets at fair value through profit or loss				3,314			4,884
Other financial assets at amortized cost				90,745			83,142
Other receivables				68,277			145,549
Current tax assets				7,219			3,779
Trade receivables				161,331			126,560
Cash and cash equivalents		11		510,885			369,848
				851,734			749,910
Total assets				4,315,372			3,541,976

EQUITY		14
Share capital				163,223			163,223
Share premium				183,430			183,430
Treasury shares				(4,094	)		(4,322	)
Free distributable reserve				378,910			378,910
Non-distributable reserve				1,358,028			1,358,028
Currency translation adjustment				(137,778	)		(482,852	)
Legal reserves				7,419			3,676
Other reserves				(1,314,929	)		(1,313,888	)
Retained earnings				680,730			438,775
Total attributable to owners of the parent				1,314,939			724,980
Non-controlling interests				163,207			78,929
Total equity				1,478,146			803,909

LIABILITIES
Non-current liabilities
Borrowings		12		1,044,862			1,133,549
Derivative financial instruments liabilities				2,682			-
Deferred tax liabilities				362,511			137,315
Other liabilities		13		754,102			768,364
Lease liabilities				8,210			10,294
Trade payables				2,452			2,617
				2,174,819			2,052,139
Current liabilities
Borrowings		12		183,105			199,688
Other liabilities		13		335,265			345,864
Lease liabilities				3,732			3,687
Current tax liabilities				12,934			23,921
Trade payables				127,371			112,768
				662,407			685,928
Total liabilities				2,837,226			2,738,067
Total equity and liabilities				4,315,372			3,541,976

	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, 2024		163,223		183,430		(4,322	)		378,910		1,358,028		3,676		(482,852	)		(1,313,888	)		438,775			724,980		78,929			803,909
Income for the period		-		-		-			-		-		-		-			-			244,893			244,893		16,035			260,928
Other comprehensive income / (loss) for the period		-		-		-			-		-		-		345,074			(881	)		-			344,193		83,193			427,386
Share-based payments reserve (Note 14.a and 14.c)		-		-		228			-		-		-		-			(160	)		805			873		-			873
Transfer to legal reserve		-		-		-			-		-		3,743		-			-			(3,743	)		-		-			-
Dividends to non-controlling interests in subsidiaries		-		-		-			-		-		-		-			-			-			-		(14,950	)		(14,950	)
Balance at September 30, 2024		163,223		183,430		(4,094	)		378,910		1,358,028		7,419		(137,778	)		(1,314,929	)		680,730			1,314,939		163,207			1,478,146

Balance at January 1, 2023		163,223		183,430		(4,600	)		378,910		1,358,028		1,081		(251,145	)		(1,314,025	)		201,193			716,095		146,274			862,369
Income for the period		-		-		-			-		-		-		-			-			147,560			147,560		9,571			157,131
Other comprehensive income / (loss) for the period		-		-		-			-		-		-		9,835			8			-			9,843		(2,306	)		7,537
Share-based payments reserve (Note 14.a and 14.c)		-		-		162			-		-		-		-			182			398			742		-			742
Transfer to legal reserve		-		-		-			-		-		2,595		-			-			(2,595	)		-		-			-
Dividends to non-controlling interests in subsidiaries		-		-		-			-		-		-		-			-			-			-		(13,728	)		(13,728	)
Balance at September 30, 2023		163,223		183,430		(4,438	)		378,910		1,358,028		3,676		(241,310	)		(1,313,835	)		346,556			874,240		139,811			1,014,051

			For the nine-month period ended September 30,
	Notes		2024			2023
Cash flows from operating activities
Income for the period from continuing operations				260,928			157,131
Adjustments for:
Amortization and depreciation				149,806			136,154
Deferred income tax		9		238,140			25,785
Current income tax		9		23,447			28,715
Share of loss in associates				829			90
Impairment loss of non-financial assets				-			47
Loss on disposals of property, plant and equipment				229			5
Gain on disposal of subsidiaries				(521	)		-
Low value, short term and variable lease payments				(931	)		(2,534	)
Share based compensation expenses				873			742
Collection of government grants				-			383
Government grants				(79	)		(3,726	)
Interest expenses		8		81,087			80,399
Other financial results, net				(16,196	)		(39,424	)
Net foreign exchange		8		(308,300	)		(9,439	)
Other accruals				(3,260	)		1,071
Inflation adjustment				(1,690	)		36,993
Acquisition of intangible assets				(152,528	)		(141,604	)
Income tax paid				(32,002	)		(21,510	)
Income due to concession compensation (*)				90,609			-
Unpaid concession fees				46,045			44,910
Changes in liability for concessions		8		66,369			75,851
Changes in working capital		17		(73,045	)		(48,570	)
Net cash provided by operating activities				369,810			321,469

Cash flows from investing activities
Cash contribution in associates				(293	)		(99	)
Acquisition of other financial assets				(123,299	)		(100,627	)
Disposals of other financial assets				106,800			66,778
Acquisition of property, plant and equipment				(7,148	)		(7,420	)
Acquisition of intangible assets				(1,082	)		(817	)
Proceeds from property, plant and equipment				16			21
Net cash inflow on disposal of subsidiaries				(413	)		-
Other				(466	)		1,152
Net cash used in investing activities				(25,885	)		(41,012	)

Cash flows from financing activities
Loans obtained		12		141,733			91,438
Guarantee deposits				282			566
Principal elements of lease payments				(3,352	)		(3,171	)
Loans repaid		12		(234,153	)		(143,528	)
Interest paid		12		(67,026	)		(72,236	)
Debt renegotiation expenses		12		(2,236	)		(165	)
Dividends paid to non-controlling interests in subsidiaries				(14,942	)		(13,728	)
Net cash used in financing activities				(179,694	)		(140,824	)
Increase in cash and cash equivalents from continuing operations				164,231			139,633

Movements in cash and cash equivalents
At the beginning of the period				369,848			385,265
Effects of exchange rate changes and inflation adjustment on cash and cash equivalents				(23,194	)		(55,958	)
Increase in cash and cash equivalents from continuing operations				164,231			139,633
At the end of the period		11		510,885			468,940

1		General information
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		Financial risk factors
20		Subsequent events

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the three-month period ended September 30, 2024	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment Adjustments			Unallocated			Total
Aeronautical revenue ^(*)		110,634			-			10,406			-			19,650			-			28,999			21,564			22,294			-			-			213,547
Non-aeronautical revenue ^(*)
Commercial revenue		88,244			35			16,714			-			11,891			5,796			47,189			7,394			14,950			(2,989	)		1,062			190,286
Construction service revenue		39,745			-			175			-			11,790			-			1,321			-			4,045			-			-			57,076
Other revenue		-			-			-			-			4			-			-			-			896			(745	)		745			900
Revenue		238,623			35			27,295			-			43,335			5,796			77,509			28,958			42,185			(3,734	)		1,807			461,809
Cost of services		(185,580	)		(31	)		(16,628	)		(532	)		(26,107	)		(4,700	)		(44,839	)		(16,674	)		(24,702	)		2,814			(2,866	)		(319,845	)
Gross profit / (loss)		53,043			4			10,667			(532	)		17,228			1,096			32,670			12,284			17,483			(920	)		(1,059	)		141,964
Selling, general and administrative expenses		(24,844	)		31			(2,271	)		(188	)		(4,804	)		(672	)		(3,879	)		(5,304	)		(3,619	)		921			(2,482	)		(47,111	)
Other operating income		5,273			-			2,045			218			6			3			25			25			18			-			89			7,702
Other operating expenses		(1,244	)		-			(3	)		-			(73	)		(3	)		(285	)		(8	)		-			-			-			(1,616	)
Operating income / (loss)		32,228			35			10,438			(502	)		12,357			424			28,531			6,997			13,882			1			(3,452	)		100,939
Share of loss in associates		-			-			-			-			-			-			-			-			-			-			(562	)		(562	)
Amortization and depreciation		27,952			-			2,743			-			1,903			340			5,477			1,787			2,738			-			2,967			45,907
Adjusted Ebitda		60,180			35			13,181			(502	)		14,260			764			34,008			8,784			16,620			1			(1,047	)		146,284
Construction services revenue		(39,745	)		-			(175	)		-			(11,790	)		-			(1,321	)		-			(4,045	)		-			-			(57,076	)
Construction services cost		39,668			-			175			-			11,790			-			1,283			-			3,284			-			-			56,200
Adjusted Ebitda excluding Construction Services		60,103			35			13,181			(502	)		14,260			764			33,970			8,784			15,859			1			(1,047	)		145,408
Construction services revenue		39,745			-			175			-			11,790			-			1,321			-			4,045			-			-			57,076
Construction services cost		(39,668	)		-			(175	)		-			(11,790	)		-			(1,283	)		-			(3,284	)		-			-			(56,200	)
Adjusted Ebitda		60,180			35			13,181			(502	)		14,260			764			34,008			8,784			16,620			1			(1,047	)		146,284
Financial income																																			15,921
Financial loss																																			(31,849	)
Inflation adjustment																																			(3,152	)
Amortization and depreciation																																			(45,907	)
Income before income tax expense																																			81,297
Income tax																																			(80,636	)
Income for the period																																			661

	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2024			2023			2024			2023
Interest income		12,291			22,694			44,808			48,130
Foreign exchange results		597			905			923			1,434
Other financial income		3,033			1,787			9,339			6,059
Financial income		15,921			25,386			55,070			55,623

Interest expense		(25,011	)		(24,502	)		(81,087	)		(80,399	)
Foreign exchange results ⁽¹⁾		13,288			(18,009	)		307,377			8,005
Changes in liability for concessions ⁽²⁾		(18,785	)		(21,756	)		(66,369	)		(75,851	)
Other financial loss		(1,341	)		(2,404	)		(6,803	)		(6,663	)
Financial loss		(31,849	)		(66,671	)		153,118			(154,908	)

Inflation adjustment		(3,152	)		(19,174	)		(20,878	)		(32,996	)
Inflation adjustment		(3,152	)		(19,174	)		(20,878	)		(32,996	)
Net financial results		(19,080	)		(60,459	)		187,310			(132,281	)

	Concession Assets			Goodwill			Patent, intellectual property rights and others			Total
Cost
Balances at January 1, 2024		4,153,428			9,293			24,661			4,187,382
Acquisitions		152,789			-			1,082			153,871
Disposals		(434	)		-			(484	)		(918	)
Other		2,941			-			-			2,941
Transfer from property plant and equipment		16			-			-			16
Translation differences and inflation adjustment		1,129,796			167			46			1,130,009
		5,438,536			9,460			25,305			5,473,301
Depreciation
Accumulated at January 1, 2024		1,645,013			-			21,404			1,666,417
Depreciation of the period		138,784			-			628			139,412
Disposals		(31	)		-			(284	)		(315	)
Transfer from property plant and equipment		2			-			-			2
Translation differences and inflation adjustment		455,984			-			139			456,123
		2,239,752			-			21,887			2,261,639
At September 30, 2024		3,198,784			9,460			3,418			3,211,662

Cost
Balances at January 1, 2023		4,749,233			9,003			22,658			4,780,894
Acquisitions		141,757			-			817			142,574
Impairment		(47	)		-			-			(47	)
Disposals		(23	)		-			(39	)		(62	)
Other		236			-			-			236
Transfer from property, plant and equipment		1,002			-			-			1,002
Translation differences and inflation adjustment		105,865			(57	)		(18	)		105,790
		4,998,023			8,946			23,418			5,030,387
Depreciation
Accumulated at January 1, 2023		1,800,871			-			20,021			1,820,892
Depreciation of the period		125,356			-			459			125,815
Disposals		(5	)		-			(8	)		(13	)
Translation differences and inflation adjustment		34,989			-			(66	)		34,923
		1,961,211			-			20,406			1,981,617
At September 30, 2023		3,036,812			8,946			3,012			3,048,770

	At September 30, 2024		At December 31, 2023
Cash to be deposited		619		657
Cash at banks		155,740		192,381
Time deposits		40,553		16,729
Other cash equivalents ⁽¹⁾		313,973		160,081
		510,885		369,848

	At September 30, 2024		At December 31, 2023
Non-current
Bank and financial borrowings (**)		281,952		278,147
Notes (*)		762,910		855,402
		1,044,862		1,133,549
Current
Bank and financial borrowings (**)		36,428		114,092
Notes (*)		146,677		85,535
Bank overdrafts		-		61
		183,105		199,688
Total Borrowings		1,227,967		1,333,237

	For the nine-month period ended September 30,
	2024			2023
Balances at the beginning of the period		1,333,237			1,465,437
Loans obtained		141,733			91,438
Loans repaid		(234,153	)		(143,528	)
Interest paid		(67,026	)		(72,236	)
Accrued interest for the period		78,621			74,880
Debt renegotiation expenses		(2,236	)		(165	)
Translation differences and inflation adjustment		(22,209	)		8,500
Balances at the end of the period		1,227,967			1,424,326

	1 year or less		1 - 2 years		2 – 5 years		Over 5 years		Total
At September 30, 2024 ⁽¹⁾		265,735		176,287		562,669		677,643		1,682,334
At December 31, 2023 ⁽¹⁾		294,299		239,443		569,488		711,815		1,815,045

Company	Lender	Currency	Maturity	Interest Rate		Outstanding
Company	Lender	Currency	Maturity	Interest Rate		(In millions of USD)	Capitalization⁽²⁾
Inframérica Concessionária do Aeroporto de Brasilia S.A. (“ICAB”)	BNDES	R$	Dec-2033	Variable	TJLP⁽¹⁾ plus spread	181.8	A
Terminal Aeroportuaria Guayaquil S.A. (“TAGSA”)	Banco Guayaquil SA	USD	Feb-2026	Variable	T.R.E.⁽³⁾ plus spread	2.2	D
	Banco Guayaquil SA	USD	Dec-2025	Variable	T.R.E.⁽³⁾ plus spread	0.9	D
	Banco Bolivariano CA	USD	Dec-2025	Variable	T.R.E.⁽³⁾ plus spread	2.9	D
	Banco Bolivariano CA	USD	Nov-2024	Variable	T.R.E.⁽³⁾ plus spread	0.5	D
TCU S.A. (“TCU”)	Scotiabank Uruguay	USD	Feb-2026	Fixed	4.30%	0.4	D
	Santander Uruguay	USD	Nov-2027	Fixed	5.37%	0.8	D
	Santander Uruguay	USD	Jan-2028	Fixed	5.37%	0.8	D
Toscana Aeroporti S.p.A. (“TA”)	Intesa Sanpaolo, UniCredit , BPM, BNP and Cassa Depositi e Prestiti	EUR	Jun-2030	Variable	Euribor plus spread	100.2	A
AA2000	Onshore renegotiation - ICBC	USD	Nov-2024	Fixed	8.50%	2.3	A
	ICBC Dubai	USD	Oct-2025	Variable	SOFR plus spread	10.2	B
	ICBC	USD	Nov-2024	Fixed	12.00%	0.5	D
	ICBC	USD	Dec-2024	Fixed	15.50%	0.1	D
Consorcio Aeropuertos Internacionales S.A. (“CAISA”)	Santander Uruguay	USD	Apr-2027	Fixed	5.10%	3.9	B
Consorcio Aeropuertos Internacionales S.A. (“CAISA”)	Banco Itaú	USD	Apr-2027	Fixed	3.80%	3.9	B
Puerta del Sur S.A. (”PDS”)	Banco de la República Oriental del Uruguay	USD	Mar-2028	Variable	5.26%	7.0	C
Total						318.4

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the three-month period ended September 30, 2023	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment  Adjustments			Unallocated			Total
Aeronautical revenue ^(*)		111,198			-			12,098			-			16,157			-			29,067			21,402			26,901			-			-			216,823
Non-aeronautical revenue ^(*)
Commercial revenue		101,083			36			17,002			-			10,726			5,451			52,308			6,737			12,553			(3,140	)		1,048			203,804
Construction service revenue		34,049			-			-			-			10,115			-			705			16			2,147			-			-			47,032
Other revenue		-			-			-			-			7			-			-			-			1,613			(624	)		888			1,884
Revenue		246,330			36			29,100			-			37,005			5,451			82,080			28,155			43,214			(3,764	)		1,936			469,543
Cost of services		(158,989	)		(12	)		(20,404	)		-			(23,210	)		(4,157	)		(48,537	)		(16,018	)		(22,984	)		2,786			(3,036	)		(294,561	)
Gross profit / (loss)		87,341			24			8,696			-			13,795			1,294			33,543			12,137			20,230			(978	)		(1,100	)		174,982
Selling, general and administrative expenses		(20,149	)		(23	)		(3,044	)		(9	)		(3,792	)		(615	)		(3,653	)		(4,782	)		(3,460	)		981			(3,015	)		(41,561	)
Impairment loss of non-financial assets		-			-			-			-			-			-			-			-			-			-			-			-
Other operating income		5,199			-			249			-			20			-			110			35			35			-			2			5,650
Other operating expenses		(7,086	)		-			-			-			(108	)		-			(201	)		(5	)		-			(3	)		(11	)		(7,414	)
Operating income / (loss)		65,305			1			5,901			(9	)		9,915			679			29,799			7,385			16,805			-			(4,124	)		131,657
Share of loss in associates		(1	)		-			-			-			-			-			-			-			-			-			-			(1	)
Amortization and depreciation		23,395			-			3,113			-			1,729			293			5,004			1,722			2,716			-			3,117			41,089
Adjusted Ebitda		88,699			1			9,014			(9	)		11,644			972			34,803			9,107			19,521			-			(1,007	)		172,745
Construction services revenue		(34,049	)		-			-			-			(10,115	)		-			(705	)		(16	)		(2,147	)		-			-			(47,032	)
Construction services cost		33,984			-			-			-			10,115			-			685			16			2,342			-			-			47,142
Adjusted Ebitda excluding Construction Services		88,634			1			9,014			(9	)		11,644			972			34,783			9,107			19,716			-			(1,007	)		172,855
Construction services revenue		34,049			-			-			-			10,115			-			705			16			2,147			-			-			47,032
Construction services cost		(33,984	)		-			-			-			(10,115	)		-			(685	)		(16	)		(2,342	)		-			-			(47,142	)
Adjusted Ebitda		88,699			1			9,014			(9	)		11,644			972			34,803			9,107			19,521			-			(1,007	)		172,745
Financial income																																			25,386
Financial loss																																			(66,671	)
Inflation adjustment																																			(19,174	)
Amortization and depreciation																																			(41,089	)
Income before income tax expense																																			71,197
Income tax																																			(18,505	)
Income for the period																																			52,692

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the nine-month period ended September 30, 2024	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment  Adjustments			Unallocated			Total
Aeronautical revenue ^(*)		380,045			-			29,789			908			62,992			-			69,176			61,682			54,540			-			-			659,132
Non-aeronautical revenue ^(*)
Commercial revenue		278,735			90			50,373			1,196			37,870			19,098			111,889			20,978			35,920			(8,817	)		3,032			550,364
Construction service revenue		118,414			-			692			-			26,724			-			4,223			75			6,535			-			-			156,663
Other revenue		-			-			-			-			9			-			-			-			3,111			(2,484	)		3,060			3,696
Revenue		777,194			90			80,854			2,104			127,595			19,098			185,288			82,735			100,106			(11,301	)		6,092			1,369,855
Cost of services		(541,940	)		(53	)		(51,367	)		(3,250	)		(72,811	)		(15,955	)		(111,328	)		(48,063	)		(65,658	)		8,697			(8,791	)		(910,519)
Gross profit / (loss)		235,254			37			29,487			(1,146	)		54,784			3,143			73,960			34,672			34,448			(2,604	)		(2,699	)		459,336
Selling, general and administrative expenses		(72,253	)		(3	)		(6,681	)		(782	)		(13,868	)		(2,042	)		(11,891	)		(15,549	)		(9,391	)		2,600			(10,314	)		(140,174)
Other operating income		16,906			-			2,224			2,709			8			5			223			55			247			-			140			22,517
Other operating expenses		(4,077	)		(34	)		(36	)		(411	)		(317	)		(6	)		(746	)		(18	)		-			-			-			(5,645	)
Operating income / (loss)		175,830			-			24,994			370			40,607			1,100			61,546			19,160			25,304			(4	)		(12,873	)		336,034
Share of loss in associates		(1	)		-			-			-			-			-			-			-			184			-			(1,012	)		(829	)
Amortization and depreciation		79,783			-			8,541			8			6,461			986			15,813			5,309			8,107			-			9,038			134,046
Adjusted Ebitda		255,612			-			33,535			378			47,068			2,086			77,359			24,469			33,595			(4	)		(4,847	)		469,251
Construction services revenue		(118,414	)		-			(692	)		-			(26,724	)		-			(4,223	)		(75	)		(6,535	)		-			-			(156,663	)
Construction services cost		118,207			-			692			-			26,724			-			4,100			75			5,001			-			-			154,799
Adjusted Ebitda excluding Construction Services		255,405			-			33,535			378			47,068			2,086			77,236			24,469			32,061			(4	)		(4,847	)		467,387
Construction services revenue		118,414			-			692			-			26,724			-			4,223			75			6,535			-			-			156,663
Construction services cost		(118,207	)		-			(692	)		-			(26,724	)		-			(4,100	)		(75	)		(5,001	)		-			-			(154,799	)
Adjusted Ebitda		255,612			-			33,535			378			47,068			2,086			77,359			24,469			33,595			(4	)		(4,847	)		469,251
Financial income																																			55,070
Financial loss																																			153,118
Inflation adjustment																																			(20,878	)
Amortization and depreciation																																			(134,046)
Income before income tax expense																																			522,515
Income tax																																			(261,587)
Income for the period																																			260,928

September 30, 2024
Current assets		248,394			-			110,621			4,612			52,520			5,859			84,824			47,425			69,123			(97,251	)		325,607			851,734
Non-current assets		1,958,459			-			531,494			169			208,520			8,830			180,045			49,411			262,182			(768	)		265,296			3,463,638
Capital Expenditure		118,471			-			1,507			60			23,410			624			11,197			2,343			7,977			-			28			165,617
Current liabilities		216,103			-			198,131			1,000			28,406			4,866			36,524			44,389			74,536			(97,251	)		155,703			662,407
Non-current liabilities		800,202			-			855,171			1,266			58,275			1,237			-			6,040			133,464			(768	)		319,932			2,174,819

	Argentina						Brazil						Uruguay						Armenia			Ecuador			Italy
For the nine-month period ended September 30, 2023	Airports			Others			Airports			Others			Airports			Others			Airports			Airports			Airports			Intrasegment  Adjustments			Unallocated			Total
Aeronautical revenue ^(*)		325,581			-			33,701			-			49,279			-			68,057			58,670			54,710			-			-			589,998
Non-aeronautical revenue ^(*)
Commercial revenue		276,813			144			47,318			-			34,942			15,734			121,119			19,817			30,164			(8,693	)		2,939			540,297
Construction service revenue		107,232			-			-			-			20,462			-			2,307			21			7,550			-			-			137,572
Other revenue		-			-			-			-			16			-			-			-			5,626			(2,834	)		3,096			5,904
Revenue		709,626			144			81,019			-			104,699			15,734			191,483			78,508			98,050			(11,527	)		6,035			1,273,771
Cost of services		(457,785	)		(46	)		(57,514	)		-			(62,516	)		(12,160	)		(117,785	)		(45,356	)		(64,867	)		7,944			(8,936	)		(819,021	)
Gross profit / (loss)		251,841			98			23,505			-			42,183			3,574			73,698			33,152			33,183			(3,583	)		(2,901	)		454,750
Selling, general and administrative expenses		(59,417	)		(92	)		(7,857	)		(30	)		(11,933	)		(1,697	)		(11,635	)		(13,293	)		(9,911	)		3,583			(8,974	)		(121,256	)
Impairment loss of non-financial assets		-			-			-			-			-			-			-			-			(47	)		-			-			(47	)
Other operating income		14,821			1			4,006			-			62			-			286			50			476			-			(2	)		19,700
Other operating expenses		(8,076	)		-			(17	)		-			(310	)		(3	)		(707	)		(21	)		-			-			(11	)		(9,145	)
Operating income / (loss)		199,169			7			19,637			(30	)		30,002			1,874			61,642			19,888			23,701			-			(11,888	)		344,002
Share of loss in associates		(104	)		-			-			-			-			-			-			-			14			-			-			(90	)
Amortization and depreciation		68,060			-			8,929			-			5,431			937			14,756			4,964			7,995			-			9,165			120,237
Adjusted Ebitda		267,125			7			28,566			(30	)		35,433			2,811			76,398			24,852			31,710			-			(2,723	)		464,149
Construction services revenue		(107,232	)		-			-			-			(20,462	)		-			(2,307	)		(21	)		(7,550	)		-			-			(137,572	)
Construction services cost		107,092			-			-			-			20,462			-			2,240			21			5,818			-			-			135,633
Adjusted Ebitda excluding Construction Services		266,985			7			28,566			(30	)		35,433			2,811			76,331			24,852			29,978			-			(2,723	)		462,210
Construction services revenue		107,232			-			-			-			20,462			-			2,307			21			7,550			-			-			137,572
Construction services cost		(107,092	)		-			-			-			(20,462	)		-			(2,240	)		(21	)		(5,818	)		-			-			(135,633	)
Adjusted Ebitda		267,125			7			28,566			(30	)		35,433			2,811			76,398			24,852			31,710			-			(2,723	)		464,149
Financial income																																			55,623
Financial loss																																			(154,908	)
Inflation adjustment																																			(32,996	)
Amortization and depreciation																																			(120,237	)
Income before income tax expense																																			211,631
Income tax																																			(54,500	)
Income for the period																																			157,131

December 31, 2023
Current assets		183,773			22			188,160			-			45,101			4,770			91,159			59,737			68,197			(85,454	)		194,445			749,910
Non-current assets		1,170,372			20			667,193			-			188,336			9,193			154,754			53,782			267,568			(768	)		281,616			2,792,066
Capital Expenditure		93,326			-			1,727			-			36,605			2,120			7,073			3,267			17,504			-			-			161,622
Current liabilities		127,070			9			221,843			-			25,549			4,419			34,076			54,106			139,248			(85,454	)		165,062			685,928
Non-current liabilities		673,245			-			907,835			-			60,264			1,809			-			7,329			78,834			(768	)		323,591			2,052,139

	For the three-month period ended September 30,						For the nine-month period ended September 30,
	2024			2023			2024			2023
Salaries and social security contributions		(61,104	)		(57,894	)		(187,251	)		(167,070	)
Concession fees ⁽¹⁾		(50,656	)		(51,514	)		(157,827	)		(144,685	)
Construction services cost		(56,200	)		(47,142	)		(154,799	)		(135,633	)
Amortization and depreciation ⁽²⁾		(44,077	)		(39,472	)		(128,681	)		(115,462	)
Maintenance expenses		(44,804	)		(35,955	)		(121,836	)		(98,167	)
Cost of fuel		(30,871	)		(36,663	)		(74,323	)		(85,220	)
Services and fees		(19,992	)		(16,271	)		(54,160	)		(45,556	)
Office expenses		(4,209	)		(3,207	)		(12,068	)		(9,325	)
Taxes		(1,823	)		(865	)		(4,336	)		(2,771	)
Provision for maintenance costs		(883	)		(604	)		(2,560	)		(2,144	)
Others		(5,226	)		(4,974	)		(12,678	)		(12,988	)
		(319,845	)		(294,561	)		(910,519	)		(819,021	)

	1 year or less		1 - 2 years		2 - 5 years		Over 5 years		Total
At September 30, 2024		335,265		87,944		252,849		1,140,456		1,816,514
At December 31, 2023		345,864		96,071		279,683		1,266,124		1,987,742

	Currency translation adjustments			Remeasurement of defined benefit obligations (*)		Share of other comprehensive income from associates			Cash flow hedge (*)			Income tax effect (*)			Transfer from shareholders equity – currency translation differences		Total
Balances at January 1, 2024		(505,015	)		532		(41,239	)		-			(115	)		63,402		(482,435	)
Other comprehensive income / (loss) for the period		345,005			69		69			(1,229	)		279			-		344,193
For the period ended September 30, 2024		(160,010	)		601		(41,170	)		(1,229	)		164			63,402		(138,242	)

Balances at January 1, 2023		(273,378	)		520		(41,169	)		-			(122	)		63,402		(250,747	)
Other comprehensive income / (loss) for the period		9,831			10		4			-			(2	)		-		9,843
For the period ended September 30, 2023		(263,547	)		530		(41,165	)		-			(124	)		63,402		(240,904	)

	At September 30, 2024		At December 31, 2023
Share capital		163,223		163,223
Share premium		183,430		183,430
Reserve for own shares		4,094		4,322
Legal reserve		7,419		3,676
Free distributable reserves		378,910		378,910
Non-distributable reserves		1,353,934		1,353,706
Retained earnings		80,357		37,890
Total equity in accordance with Luxembourg law		2,171,367		2,125,157

	At September 30, 2024		At December 31, 2023
Period-end balances

(a) Arising from sales / purchases of goods / other
Trade receivables with associates		5,955		4,200
Trade receivables with other related parties		2,068		962
Other receivables with associates		-		58
Other receivables with other related parties		9,418		9,257
Other financial assets with associates		3,222		3,108
Other financial assets with other related parties ^(*)		44,090		28,327
Trade payables to associates		(2,943)		(2,765	)
Trade payables to other related parties		(4,876)		(2,501	)
		56,934		40,646

	At September 30, 2024			At December 31, 2023
(b) Other liabilities
Other liabilities to associates ^(**)		(14,032)			(15,539	)
Other liabilities to other related parties		(4,156)			(2,425	)
		(18,188	)		(17,964	)
(c) Other balances
Cash and cash equivalents in other related parties		30,960			23,249
		30,960			23,249

	Fair value		Carrying amount
Trust funds ⁽¹⁾		39,402		36,794
Long-term borrowings ⁽²⁾		1,017,995		1,044,862

	At September 30, 2024		At December 31, 2023
Fixed rate (*)		922,283		990,251
Variable rate		305,684		342,986
		1,227,967		1,333,237