Today, Mexican airport operator Grupo Aeroportuario del Centro Norte, known as OMA (NASDAQ:OMAB; BMV:OMA), disclosed in a recent SEC filing that it has secured short-term financing totaling Ps.600 million.
The loans, obtained from HSBC (LON:HSBA) México, Banco Santander (BME:SAN) México, and Scotiabank (TSX:BNS) México, are intended to support OMA's working capital needs and enhance the company's liquidity position. The financing, which matures in May 2025, features an annual weighted average interest rate of TIIE 28 plus 60 basis points.
OMA, which operates 13 international airports across nine states in central and northern Mexico, serves a variety of regions including Monterrey, Mexico's third-largest metropolitan area, and popular tourist destinations such as Acapulco, Mazatlán, and Zihuatanejo.
The company also manages a hotel within the Mexico City airport and another at the Monterrey airport. With over 1,200 employees, OMA provides airport and commercial services to passengers and clients.
The company's strategy with this financial move is to maintain a robust capital structure amidst its operations. This development is part of OMA's ongoing efforts to ensure financial stability and operational efficiency.
The information provided is based on the company's latest filing with the United States Securities and Exchange Commission.
In other recent news, Grupo Aeroportuario del Centro Norte, known as OMA, reported a 4.8% decrease in passenger traffic across its 13 airports for October 2024 compared to the same month last year. Despite this, the company saw a 1.4% growth in combined aeronautical and non-aeronautical revenues.
OMA's consolidated net income for the quarter was Ps.1,385 million, a slight decrease of 2.1% from the previous year. The company also announced its second dividend installment of Ps.2,125 million, set to be paid on November 20, 2024.
In addition, OMA reported a cybersecurity incident but assured no significant impact on its operations or financial position. Analysts from Scotiabank and Morgan Stanley (NYSE:MS) upgraded their stance on OMA's stock from Sector Underperform to Sector Perform and Equal-weight to Overweight respectively.
These are among the recent developments at OMA.
InvestingPro Insights
OMA's recent move to secure short-term financing aligns with its strong financial position and market standing. According to InvestingPro data, the company boasts a market capitalization of $3.04 billion and maintains impressive gross profit margins, currently at 68.39% for the last twelve months as of Q3 2024. This financial strength is further underscored by OMA's ability to generate substantial revenue, which stood at $744.98 million over the same period.
InvestingPro Tips highlight that OMA is trading at a low earnings multiple, with a P/E ratio of 12.35, suggesting potential value for investors. Additionally, the company pays a significant dividend to shareholders, with a current dividend yield of 6.09%. This attractive yield, coupled with the company's status as a prominent player in the Transportation Infrastructure industry, may appeal to income-focused investors.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips on OMA, providing a comprehensive view of the company's financial health and market position.
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