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Grupo Aeroportuario del Sureste(ASR) - 2019 Q2 - Earnings Call Transcript
2019-07-25 16:06
Financial Data and Key Metrics Changes - Total passenger traffic increased by 7% year-over-year to 14 million passengers [4] - Consolidated revenues (excluding construction revenues) rose by 7% year-on-year to MXN3.9 billion [6] - Majority net income increased by 31.3% to MXN1.4 billion [12] - Consolidated EBITDA increased by 16% year-over-year to MXN2.7 billion, with margins expanding by 675 basis points to 67.5% [9][10] - Total debt decreased by 2.4% to MXN14.1 billion [12] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 7% year-on-year, with Mexico seeing nearly 8% growth [6] - Commercial revenues grew by 7% to MXN1.5 billion, supported by enhancements to the commercial offering [6] - In Mexico, commercial revenues grew by 4.5%, while Puerto Rico and Colombia saw growth of 11% and 21%, respectively [7] Market Data and Key Metrics Changes - In Mexico, domestic traffic grew by just over 9%, while international traffic growth was only 1% [4] - U.S. traffic declined by 285 basis points year-on-year, a trend expected to continue [4] - In Puerto Rico, total passenger traffic grew by 6%, with domestic and international traffic increasing by 5.5% and over 11%, respectively [5] - In Colombia, domestic traffic increased by just over 14%, while international traffic grew nearly 19% [5] Company Strategy and Development Direction - The company is focused on complying with its Master Development Plan (MDP) commitment of MXN2.1 billion for 2019, with expectations of accelerated investments in the second half of the year [22] - The company is exploring new routes and improving commercial offerings to drive traffic growth, particularly in Colombia [20][28] Management's Comments on Operating Environment and Future Outlook - Management noted that international traffic from the U.S. is a concern and expected to continue affecting overall traffic trends [17] - The company is optimistic about traffic growth in Colombia due to favorable economic conditions and new routes [20] - Management acknowledged capacity constraints at Mexico City airport, which could limit domestic growth until new projects are operational [34] Other Important Information - The company reported a recovery of MXN263 million related to insurance claims from Hurricane Maria, which positively impacted EBITDA in Puerto Rico [10] - Cash and cash equivalents increased by 6% year-on-year to MXN4.8 billion [12] Q&A Session Summary Question: Estimate on depreciation and amortization without accounting changes for Colombia - Management did not provide specific numbers but acknowledged changes in depreciation methods [15] Question: Impact of Sargassum and political tensions on traffic flow - Management indicated they do not have specific numbers regarding these impacts [15] Question: Traffic drivers in Colombia - Management cited better economic conditions and congestion at Bogotá airport as factors driving traffic [20] Question: CapEx expectations for the remainder of the year - Management confirmed commitment to the MDP and expects to accelerate investments in the second half of the year [23] Question: Insurance claims recovery in Puerto Rico - Management estimated recovery could be close to $40 million, with portions already paid [26] Question: Update on commercial spaces in Colombia - Management confirmed additional food and beverage spaces and a duty-free store opening in Rionegro [28] Question: Normalized cost of services in Puerto Rico and Colombia - Management indicated current levels are normalized, excluding one-off expenses from previous quarters [30] Question: Domestic traffic constraints in Mexico - Management acknowledged capacity issues at Mexico City airport and the potential for growth at DeLuca airport [34]
Grupo Aeroportuario del Sureste(ASR) - 2018 Q4 - Annual Report
2019-04-25 21:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2018 Commission File Number 1-15132 Grupo Aeroportuario del Sureste, S.A.B. de C.V. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|--------|---------------------|----------- ...