$CAAP

CORPORACION AMERICA AIRPORTS S.A.

CIK:0001717393|SEC Filings

CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Continuing operations
Revenue	$ 1,962,134	$ 1,843,267	$ 1,400,038
Cost of services	(1,272,363)	(1,237,333)	(914,677)
Gross profit	689,771	605,934	485,361
Selling, general and administrative expenses	(220,198)	(198,108)	(138,669)
Impairment (loss) / reversal of non-financial assets	(335)		102,838
Other operating income	31,792	46,390	100,560
Other operating expense	(12,746)	(6,963)	(9,453)
Operating income	488,284	447,253	540,637
Share of income / (loss) in associates	31,083	(996)	7,108
Income before financial results and income tax	519,367	446,257	547,745
Financial income	68,344	71,430	101,598
Financial loss	(243,955)	110,305	(406,570)
Inflation adjustment	(11,074)	(21,260)	(40,547)
Income before income tax	332,682	606,732	202,226
Income tax	(74,963)	(298,820)	24,241
Income for the year	257,719	307,912	226,467
Attributable to:
Owners of the parent	247,724	282,674	239,506
Non-controlling interest	9,995	25,238	(13,039)
Income / (loss) for the year	$ 257,719	$ 307,912	$ 226,467
Earnings per share for profit attributable to the ordinary equity holders of the Group:
Basic earnings per share	$ 1.53	$ 1.76	$ 1.49
Diluted earnings per share	$ 1.52	$ 1.75	$ 1.49

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Income for the year	$ 257,719	$ 307,912	$ 226,467
Adjustments for:
Amortization and depreciation	229,079	203,008	151,593
Deferred income tax	29,246	263,620	(62,697)
Current income tax	45,717	35,200	38,456
Share of (income) / loss in associates	(31,083)	996	(7,108)
Impairment loss / (reversal) of non-financial assets	335		(102,838)
Loss on disposals of property, plant and equipment and intangible assets	641	221	592
Gain on disposal of subsidiaries		(391)
Low value, short term and variable lease payments	(2,126)	(1,686)	(3,082)
Share-based compensation expenses	1,083	1,143	1,055
Interest expense	90,827	107,464	95,185
Other financial results, net	(16,604)	(20,414)	(41,558)
Net foreign exchange	44,560	(317,036)	164,026
Government subsidies per Covid-19 context	(720)	(16,394)	(21,511)
Government grants collected		76	383
Other accruals	(3,424)	(5,476)	3,145
Inflation adjustment	(9,959)	1,053	54,170
Acquisition of Intangible assets	(203,165)	(212,573)	(149,436)
Income tax paid	(32,272)	(40,294)	(22,919)
Income due to concession compensation			(62,677)
Collection due to concession compensation		90,609
Unpaid concession fees	55,050	54,199	49,992
Changes in liability for concessions	81,743	87,556	98,480
Changes in working capital	(71,430)	(133,491)	(53,303)
Net cash provided by operating activities	465,217	405,302	356,415
Cash flows from investing activities
Cash contribution in associates	(712)	(666)	(84)
Acquisition of other financial assets	(195,527)	(156,418)	(128,899)
Disposals of other financial assets	138,746	136,781	72,571
Acquisition of Property, plant and equipment	(16,708)	(12,218)	(9,661)
Acquisition of Intangible assets	(2,004)	(1,435)	(1,221)
Proceeds from sale of Property, plant and Equipment	172	25	264
Net cash inflow on disposal of subsidiaries	289	(404)
Others	3,835	1,842	626
Net cash used in investing activities	(71,909)	(32,493)	(66,404)
Cash flows from financing activities
Proceeds from cash contributions			9,424
Proceeds from borrowings	18,116	190,345	87,846
Principal elements of lease payments	(4,745)	(4,397)	(3,118)
Loans repaid	(115,095)	(314,077)	(200,475)
Interest paid	(83,739)	(96,168)	(83,791)
Debt renegotiation expenses	(193)	(2,467)	(110)
Guarantee deposit	448	1,147	2,168
Dividends paid to non-controlling interests in subsidiaries	(49,456)	(14,945)	(13,656)
Payment for additional acquisitions in subsidiaries		(30,949)
Others		322	86
Net cash used in financing activities	(234,664)	(271,189)	(201,626)
Increase in cash and cash equivalents	158,644	101,620	88,385
Cash and cash equivalents
At the beginning of the year	439,847	369,848	385,265
Effects of exchange rate changes and inflation adjustment on cash and cash equivalents	(5,732)	(31,621)	(103,802)
Increase in cash and cash equivalents	158,644	101,620	88,385
At the end of the year	$ 592,759	$ 439,847	$ 369,848

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Intangible assets, net	$ 3,137,980	$ 3,155,448
Property, plant and equipment, net	86,116	77,801
Right-of-use asset	8,933	9,921
Investments in associates	43,344	11,746
Other financial assets at fair value through profit or loss	5,413	4,237
Other financial assets at amortized cost	108,896	84,618
Deferred tax assets	12,638	13,372
Inventories	294	314
Other receivables	60,010	58,461
Trade receivables	11	18
Total non-current assets	3,463,635	3,415,936
Current assets
Inventories	14,735	11,410
Other financial assets at fair value through profit or loss	2,451	3,129
Other financial assets at amortized cost	119,633	82,923
Other receivables	66,594	63,156
Current tax assets	10,989	7,366
Trade receivables	177,744	157,546
Cash and cash equivalents	592,759	439,847
Currents assets other than assets classified as held for sale	984,905	765,377
Assets classified as held for sale	137	137
Total current assets	985,042	765,514
Total assets	4,448,677	4,181,450
EQUITY
Share capital	165,219	163,223
Share premium	221,434	183,430
Treasury shares	(3,918)	(4,094)
Free distributable reserve	378,910	378,910
Non-distributable reserve	1,358,028	1,358,028
Currency translation adjustment	(175,542)	(116,471)
Legal reserves	10,017	7,419
Other reserves	(1,332,210)	(1,319,682)
Retained earnings	964,641	718,511
Total attributable to owners of the parent	1,586,579	1,369,274
Non-controlling interests	74,169	148,686
Total equity	1,660,748	1,517,960
Non-current liabilities
Borrowings	955,856	1,042,704
Derivative financial instruments liabilities	1,223	3,351
Deferred tax liabilities	400,582	383,369
Other liabilities	693,493	621,412
Lease liabilities	5,406	7,010
Non-current tax liabilities	1,636
Trade payables	1,219	1,914
Total Non-current liabilities	2,059,415	2,059,760
Current liabilities
Borrowings	139,362	115,367
Other liabilities	428,947	348,586
Lease liabilities	4,326	3,707
Derivative financial instruments liabilities	934
Current tax liabilities	23,789	15,307
Trade payables	131,156	120,763
Total current liabilities	728,514	603,730
Total liabilities	2,787,929	2,663,490
Total equity and liabilities	$ 4,448,677	$ 4,181,450