CAAP reports revenue increase of almost 50%

Corporación América Airports (CAAP) recorded $382.1 million in revenue in the first quarter of 2023 (Q1 2023), a 48.% year-on-year increase and 6% more than in Q1 2019. The cash included $68.3 million in aeronautical revenues, $37.1 million in commercial and $20.3 million from construction services. CAAP’s operating Income of $102 million was almost double the $51.8 million in 1Q22,, while adjusted earnings (EBIDTA) increased from $89.2 million to  $140.6 million. The company said it ended the quarter in a “strong cash position” with cash & cash equivalents of $401.1 million, while debt to adjusted EBITDA improved to 2.1x from