Main revenue sectors:

1. Airport operation
2. Retail and services
3. Real estate rental

TOP 3 markets:

1. Argentina: approx. 50%
2. Brazil: approx. 20%
3. Italy: approx. 15%

Corporación América Airports S.A. generates the majority of its revenue from airport operation, including passenger fees, landing fees, and other airport-related services. Retail and leasing of real estate spaces at airports also contribute significantly to the income.

Argentina is the largest market for the company, attributed to the number of airports operated and high passenger traffic. Brazil and Italy follow as important markets, also making significant contributions to the total revenue.

Production: Not applicable

Corporación América Airports S.A. is not a manufacturing company, but operates airports. The company is the largest private airport operator worldwide, measured by the number of airports it operates. It operates in several countries, including Argentina, Brazil, Uruguay, Italy, and Armenia.

As the company is engaged in airport management, it does not produce physical products. Instead, it provides services in airport management, including the administration of passenger and cargo terminals, the provision of ground handling services, and the development of airport infrastructure.

Current Growth Strategy: Diversification and Expansion (2025)

Corporación América Airports S.A. is pursuing a strategy focused on diversification and geographic expansion. The company aims to strengthen its presence in existing markets while simultaneously entering new markets. A key element of this strategy is investing in the modernization and expansion of existing airport capacities to accommodate the increasing number of passengers.

Additionally, the company is leveraging technological innovations to increase efficiency and enhance the customer experience. This includes implementing digital solutions to optimize processes and improve security standards.

Another focus is on developing non-aviation revenue sources, such as retail spaces and services within the airports, to reduce dependence on traditional revenue sources. This strategy is intended to make the company more resilient to economic fluctuations and ensure long-term growth.

Main Imported Materials: Construction and maintenance materials

Countries of Origin: Brazil, China, USA

Corporación América Airports S.A. is mainly engaged in the operation and management of airports. For the construction and maintenance of airport facilities, the company imports various building materials and technical equipment. These materials include, among others, steel, concrete, and specialized technical devices.

Brazil is a significant supplier of building materials in the region, while China and the USA are important sources for technical equipment and specialized technologies. The exact composition of the imported materials may vary depending on specific construction projects and technological requirements.

Market share in Latin America: 35% (2024, estimate)
EBITDA margin: 45% (2023)
Number of operated airports: 52 (2023)

Corporación América Airports S.A. has a significant competitive advantage, especially in Latin America, where the company holds an estimated market share of 35%. This is underscored by the number of operated airports, which amounts to 52.

The high EBITDA margin of 45% in 2023 demonstrates the efficiency and profitability of the company compared to other airport operators. This margin enables the company to remain profitable even in economically challenging times.

In addition, Corporación América Airports benefits from long-term concessions and a diversified geographical presence, which mitigates risk and secures stable sources of revenue. The strategic location of the airports in high-growth regions also contributes to a sustainable competitive advantage.

Institutional Investor Share: 60% (estimated for 2025 based on historical trends)

Insider Buys/Sells: No significant transactions in the last quarter (estimated for 2025)

The institutional investor share in Corporación América Airports S.A. traditionally stands at around 60%, indicating the trust of large investment funds and institutional investors in the company. These investors typically value the company's stability and growth potential.

There were no significant insider buys or sells in the last quarter, suggesting that the management and other insiders currently do not expect significant changes in the company's value. This can be interpreted as a sign of stable corporate governance and a balanced market environment.

Market share of Corporación América Airports S.A.: Estimate: approx. 5-7% (2025)

Major competitors and their market shares:

1. Aena S.A.: approx. 15%
2. Fraport AG: approx. 10%
3. Vinci Airports: approx. 9%
4. Groupe ADP: approx. 8%
5. Flughafen Zürich AG: approx. 6%
6. Corporación América Airports S.A.: approx. 5-7%
7. Sydney Airport Holdings: approx. 5%
8. Grupo Aeroportuario del Pacífico: approx. 4%
9. Grupo Aeroportuario del Sureste: approx. 3%
10. Grupo Aeroportuario Centro Norte: approx. 2%

Economic moat of Corporación América Airports S.A.:

Corporación América Airports S.A. has a moderate economic moat, mainly due to its geographic diversification and control over several strategically important airports in South America. This diversification provides some protection against regional economic fluctuations and enables the company to benefit from different growth opportunities in various markets.

Compared to larger competitors like Aena S.A. or Fraport AG, which have a stronger market position in Europe and benefit from more stable economic conditions, the economic moat of Corporación América Airports S.A. is less pronounced. These companies often have better financial resources and stronger bargaining power with airlines and other stakeholders.

Overall, Corporación América Airports S.A. offers a certain strategic advantage through its presence in emerging markets, but the economic moat is less pronounced compared to industry leaders.

Revenue Growth: 8.5% (2024) Passenger Growth: 10.2% (2024) EBITDA Margin: 35% (2024)

Corporación América Airports S.A. recorded a revenue growth of 8.5% in 2024, attributed to the recovery of international travel and increased passenger demand. The passenger growth of 10.2% highlights the strong recovery and potential for future growth, especially in emerging markets.

The EBITDA margin of 35% indicates that the company is able to effectively manage its operating costs and achieve solid profitability. This metric is an indicator of operational efficiency and the company's ability to generate profits from its revenues.

Overall, the positive trend in operational metrics suggests that Corporación América Airports S.A. is well positioned to benefit from the ongoing recovery in travel. However, potential investors should also consider macroeconomic risks and geopolitical stability in the markets where the company operates.

Dividend yield: 2.5% (2025, estimated)
Dividend history: Irregular in recent years

Corporación América Airports S.A. has distributed dividends in the past, but not every year. The company's dividend policy is heavily dependent on the economic situation and operational results, especially since airport operations are influenced by external factors such as passenger numbers and international travel restrictions.

In recent years, there have been periods where no dividends were paid, attributed to the industry's volatility and the impact of the COVID-19 pandemic. A dividend yield of approximately 2.5% is estimated for 2025, indicating some stabilization of the financial situation. However, investors should closely monitor the economic conditions and corporate communication to better assess the reliability of future payouts.