GUADALAJARA, Mexico, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces preliminary terminal passenger traffic figures for August 2025, compared with August 2024. During this period, the total number of terminal passengers at GAP’s 12 Mexican airports increased by 3.3%, compared to August 2024. Puerto Vallarta, Guadalajara, and Los Cabos airports presented an increase in passenger traffic of 5.5%, 4.1%, and 0.6%, resp ...

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Financial Data and Key Metrics Changes - The company reported a statutory net profit of AUD 58.2 million for FY 2025, a decrease from AUD 110 million in the previous year [4] - Underlying net profit declined to AUD 26 million from AUD 32.2 million year-on-year, with underlying earnings per share dropping to AUD 0.056 from AUD 0.062 [4][5] - The final dividend declared for FY 2025 is AUD 0.28 per share, bringing the total dividend for the year to AUD 0.43, an increase of over 13% compared to FY 2024 [3][18] Business Line Data and Key Metrics Changes - Management fee revenue decreased by 57.6% compared to the prior period due to asset disposals [14] - Performance fees fell from AUD 11.3 million in FY 2024 to AUD 8 million in FY 2025, primarily attributed to Rock Group and VPC HoldCo [14] - The company achieved a 60% reduction in corporate costs during the financial year [5][27] Market Data and Key Metrics Changes - The fair value estimate of net asset value increased to AUD 15.51 per share at June 30, 2025, up from AUD 13.47 per share a year earlier, representing a growth of over 15% [12][23] - The cash reserves stood at AUD 138 million, despite the reduction due to the share buyback [20] Company Strategy and Development Direction - The company aims to accelerate growth by leveraging high-potential investment opportunities with existing boutique partners and exploring new investment prospects [26] - There is a continued focus on unlocking shareholder value through targeted capital structure initiatives [26] - The company plans to maintain disciplined cost management to support stability and capital efficiency [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong momentum built over the past two financial years and emphasized the importance of executing a clear and disciplined plan [25] - The Board is considering debt reduction to improve financial flexibility and resilience [28] Other Important Information - The company completed significant transactions, including the sale of its interest in Carlisle and a partial stake in Victory Park Capital, which contributed to cash inflows and asset realizations [8][9][10] - The investment management function was outsourced, leading to a significant reduction in corporate costs [16] Q&A Session Summary Question: Can you discuss the additional investments in existing affiliates? - The company is considering working capital loans and potential capital injections to support the growth of existing boutiques, without increasing equity stakes [32][34] Question: Any intentions regarding the Abacus instruments? - The company plans to hold the bonds long-term due to their attractive coupon, while monitoring the stock for potential liquidation in the short to medium term [37][39] Question: How does the investment committee approach capital allocation? - The newly formed investment advisory committee will evaluate opportunities based on their potential to deliver accretive growth, focusing on larger investments rather than numerous smaller ones [40][42]

Financial Data and Key Metrics Changes - Pacific Current Group reported a statutory net profit of AUD 58.2 million for FY 2025, a decrease from AUD 110 million in the previous financial year [4] - Underlying net profit declined to AUD 26 million from AUD 32.2 million year-on-year, with underlying earnings per share dropping to AUD 0.056 from AUD 0.062 [4][5] - The company declared a final dividend of AUD 0.28 per share, bringing the total dividend for FY 2025 to AUD 0.43, an increase of over 13% compared to FY 2024 [3][19] Business Line Data and Key Metrics Changes - Management fee revenue decreased by 57.6% compared to the prior period due to disposals of investments [14][15] - Performance fees dropped from AUD 11.3 million in FY 2024 to AUD 8 million in FY 2025, primarily attributed to Rock Group and VPC HoldCo [15] - Cost-saving initiatives led to a nearly 60% reduction in corporate costs during the financial year [5][29] Market Data and Key Metrics Changes - The fair value estimate of net asset value increased to AUD 15.51 per share at June 30, 2025, up from AUD 13.47 per share a year earlier, representing a growth of over 15% [13][25] - The company realized significant cash from boutique realizations, contributing to higher interest income [18] Company Strategy and Development Direction - The company aims to accelerate growth by leveraging high-potential investment opportunities with existing boutique partners and exploring new investment prospects [28] - Focus on unlocking shareholder value through targeted capital structure initiatives and optimizing capital efficiency [28][29] - Continued emphasis on controlling operating costs and strengthening the balance sheet, with potential debt reduction prioritized [30][31] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong momentum built over the past two financial years and emphasized a disciplined approach to executing their strategic plan [27] - The company remains focused on enhancing organizational efficiency and embedding governance changes to improve agility and decision-making [31] Other Important Information - The company completed a share buyback of over 22 million ordinary shares at AUD 12 per share, totaling close to AUD 265 million, which represented over 42% of issued capital at that time [2][3] - The company has cash reserves of AUD 138 million, despite the reduction due to the share buyback [22] Q&A Session Summary Question: Can you discuss the additional investments in existing affiliates? - The company is considering providing working capital loans to support the growth of boutiques and potentially injecting further capital into operating businesses for new fund initiatives [34][35] Question: Will the company pay back the debt? - The Board is evaluating the possibility of paying back the debt facility, with a decision expected in September or October [37][38] Question: What are the intentions regarding the Abacus instruments? - The company plans to hold the bonds long-term due to their attractive coupon, while monitoring the stock for potential short to medium-term sales [39][41] Question: How does the investment committee approach capital allocation? - The newly formed investment advisory committee will evaluate opportunities based on their potential for accretive growth, focusing on larger investments rather than numerous smaller ones [42][44] Question: What are the plans for the external management arrangement after two years? - The Board will review the external management arrangement as the two-year period approaches, but no plans have been finalized yet [47]

For personal use only For personal use only For personal use only For personal use only | | FY245 (ASm) | FY24 (ASm) | | FY 24 (USSm) | Comments | | --- | --- | --- | --- | --- | --- | | | | | | | Asset realisations with Avante, Cordillera, Proterra, | | Boutique management fees | 15.5 | 36.0 | 10.0 | 23.6 | Banner Oak, Carlisle, Pennybacker (partial) and Victory Park (partial) exits impacting boutique results | | Boutique performance fees | 8.0 | 11.3 | 5.1 | 7.4 | Largely contributed by VPC and Roc | | Bo ...

Core Viewpoint - Grupo Aeroportuario del Pacífico successfully issued 85 million long-term bond certificates totaling Ps. 8.5 billion to finance capital investments and repay a loan [1][3]. Group 1: Bond Issuance Details - The bond issuance was conducted in two tranches and was oversubscribed by 1.98 times the announced amount [2]. - The bonds received the highest credit ratings in Mexico: "Aaa.mx" from Moody's and "mxAAA" from S&P, both with a stable outlook [2]. - The issuance includes 40.5 million debt certificates maturing in three years with a total amount of Ps. 4.05 billion, and 44.5 million debt certificates maturing in six years with a total amount of Ps. 4.45 billion [7]. Group 2: Use of Proceeds - Proceeds from the bond issuance will be allocated for capital investments and to repay a Ps. 1.5 billion loan from Banco Santander, maturing on October 17, 2025 [3]. Group 3: Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities like Guadalajara and Tijuana, and tourist destinations such as Puerto Vallarta and Los Cabos [4]. - The company was listed on the New York Stock Exchange in February 2006 and acquired a majority stake in MBJ Airports Limited in April 2015 [4].

Core Insights - The report is part of Ian's Insider Corner, which provides subscribers with access to investment ideas, updates, and macro analysis [1][2] - Ian Bezek, the lead analyst, has extensive experience in Latin American markets and focuses on high-quality growth stocks [3] Group 1 - Ian's Insider Corner includes features such as the Weekend Digest, trade alerts, and direct access to the lead analyst [2] - The group emphasizes research on new stocks and updates on current holdings [2] - Ian Bezek has a background as a hedge fund analyst and specializes in identifying reasonable-priced growth stocks [3]

Core Insights - Grupo Aeroportuario del Pacífico (GAP) reported a 1.8% increase in total terminal passenger traffic across its 12 Mexican airports in July 2025 compared to July 2024 [2] - The overall passenger traffic for the first seven months of 2025 increased by 7.0% compared to the same period in 2024 [3] Passenger Traffic Performance - Guadalajara airport saw a 0.7% increase in passenger traffic, while Puerto Vallarta increased by 0.4%. Tijuana experienced a decrease of 3.1%, and Los Cabos remained flat [2] - Montego Bay airport had a significant increase of 15.2% in passenger traffic compared to July 2024 [2] Detailed Passenger Statistics - Total terminal passengers in July 2025 reached 3,329.8 thousand, up from 3,203.2 thousand in July 2024, marking a 4.0% increase [3] - Year-to-date figures show a total of 20,974.3 thousand passengers from January to July 2025, compared to 19,603.0 thousand in the same period of 2024, reflecting a 7.0% increase [3] Domestic and International Passenger Trends - Domestic terminal passengers increased by 1.9% in July 2025 compared to July 2024, totaling 2,506.2 thousand [5] - International terminal passengers decreased by 0.5% in the same period, totaling 17,010.4 thousand [5] Load Factors and Capacity - The number of available seats in July 2025 increased by 6.0% compared to July 2024, while load factors decreased from 87.2% to 84.8% [8] New Routes Introduced - Several new routes were announced, including Aguascalientes to La Paz and Guadalajara to New York (EWR) [9] Company Overview - Grupo Aeroportuario del Pacífico operates 12 airports in Mexico's Pacific region, including major cities and tourist destinations [10]

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico's Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP's shares were listed on the New York Stock Exchange under the ticker symbol "PAC" and on the Mexican Stock Exchange under the ticker ...

Financial Data and Key Metrics Changes - Total passenger traffic reached 15.8 million, a 4.1% increase compared to the same quarter of 2024 [7] - Revenue generation excluding IFRIC 12 grew by 30.6% year over year, reaching ARS 8.2 billion, driven by a 26.4% increase in aeronautical revenues and a 41.8% increase in non-aeronautical revenues [11] - EBITDA increased by 31.1%, reaching ARS 5.5 billion, with an EBITDA margin of 67.1% excluding IFRIC 12 [13] - Net income increased by 17.9%, reflecting solid underlying fundamentals [14] - Cash and cash equivalents stood at ARS 9.7 billion as of June 30 [14] Business Line Data and Key Metrics Changes - Revenues from business lines operated directly by the company increased by 113%, driven by the consolidation of the cargo and bonded warehouse business [12] - Third-party operated business grew by 10.7%, with significant contributions from food and beverage, retail, duty-free, ground transportation, and timeshares [12] Market Data and Key Metrics Changes - The company added eight new routes this quarter, including seven domestic and one international, bringing the total to 21 new routes for the year [7] - Canada is becoming an increasingly relevant market, especially during the winter season [8] Company Strategy and Development Direction - The company is focused on strategic expansion opportunities, including the Turks and Caicos tender process and potential acquisition of CCR Airports assets [19] - The company aims to maintain its annual guidance despite potential impacts from U.S. migration policies [10] - Capital investments of about MXN 12.8 billion were executed in the first half of 2025, in line with annual plans [15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the impact of peso volatility and U.S. macroeconomic conditions on discretionary travel [16] - The company expects to maintain its initial annual guidance despite potential challenges [10] - Management noted that the traffic trends are changing day by day, particularly in relation to U.S. migration policies [37] Other Important Information - A dividend of MXN 16.84 per share was approved for payment throughout 2025, with the first tranche already distributed [17] - The company is actively managing liabilities and maintaining a healthy balance sheet with a net debt to EBITDA ratio of 1.8 times [15] Q&A Session Summary Question: Potential inorganic opportunities with Turks and Caicos and CCR - Management indicated that there are opportunities in Latin America and the Caribbean, but not all will yield the desired returns [22] Question: Status of the hotel in Guadalajara Airport - The hotel has achieved an average tariff of around 2,500 and an occupancy rate of approximately 80% in its first year of operation [24] Question: Tariff increases and airline negotiations - The first tariff increase was implemented in March, with another expected in January 2026, pending market conditions [30][31] Question: Traffic trends and demand stabilization - Management noted a potential improvement in traffic trends as passengers become more comfortable with migration policies [37] Question: Impact of U.S. Department of Transportation claims - Management stated that the impact on the company is uncertain, but they are more concerned about the broader bilateral relationship between the U.S. and Mexico [78]