First quarter 2009 earnings report

Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), reported its unaudited, preliminary results for the first quarter of 2009 today.

All comparisons are with respect to the comparable prior year period unless stated otherwise. The exchange rate as of the end of the first quarter was Ps. 14.3855 per U.S. dollar.

The year 2009 began with enormous challenges for the air transport industry. The potential positive effect from the fall in oil prices was offset by the depreciation of the peso and the global economic recession. Both factors, as well as the reduction in available seats resulting from the end of operations of four Mexican airlines and the departure of some U.S. carriers from our airports last year, contributed to a reduction in passenger traffic in the first quarter of 2009.

The effect of decreasing passenger traffic on revenues was partially offset by initiatives undertaken in 2008 and the first part of 2009 to increase revenues and to control costs. Even though operating income decreased as a result of a higher level of depreciation and amortization, EBITDA and EBITDA margin were maintained at levels similar to those achieved in the first quarter of 2008.

Highlights

First quarter 2009 (compared to the first quarter of 2008)

•  Passenger traffic totaled 3.0 million in the quarter, a decrease of 18.7%. Domestic traffic decreased 18.2%; international traffic decreased 20.6%.

•  Total net revenues were Ps. 486 million, a reduction of 3.2% from the year ago period. Aeronautical revenues decreased 3.8%, and non-aeronautical revenues decreased 0.7%.

•  Cost of services and administrative expenses decreased a combined 2.5% to Ps. 168 million, as compared to Ps. 173 million in the same period of 2008.

•  Operating income decreased 12.0% to Ps. 180 million; the operating margin was 37.0%.

•  Adjusted EBITDA decreased 3.7% to Ps. 278 million, equivalent to a 55.9% margin.

•  Net income was Ps. 149 million, a 45% reduction as compared to the prior year period. Earnings per share were Ps. 0.38, or US$0.21 per American Depositary Share (ADS).

•  Capital expenditures were Ps. 254 million.

•  Cash and equivalents as of March 31, 2009 were Ps. 228 million.