Grupo Aeroportuario del Pacifico(PAC)

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Grupo Aeroportuario del Pacifico(PAC) - 2022 Q4 - Annual Report
2023-04-13 11:42
Revenue Sources - Approximately 25.3%, 27.3%, and 28.1% of total revenues in 2020, 2021, and 2022, respectively, were derived from passenger charges for international passengers [1098]. Currency Exposure - As of December 31, 2022, 21% of aeronautical and non-aeronautical revenues were denominated in U.S. dollars, while approximately 17.3% of consolidated costs and expenses were also in U.S. dollars [1098]. - Approximately 60.5%, 35.5%, and 57.0% of cash and marketable securities were denominated in U.S. dollars as of December 31 for the years 2020, 2021, and 2022, respectively [1099]. Debt Management - The company had U.S.$252.5 million in U.S. dollar-denominated debt as of December 31, 2022, down from U.S.$268.5 million in 2020 [1100]. - As of December 31, 2022, approximately Ps.19.3 billion of total debt was variable rate, while Ps.15.0 billion was fixed rate, indicating that 62% of total debt is fixed [1102]. - Interest expense for variable rate loans in 2022 was Ps.1,393.2 million, with an average TIIE-28 rate of 8.1% and an average Libor rate of 1.88% [1112]. - The company contracted interest rate swaps covering Ps.6.9 billion worth of risk for increased interest rates related to long-term debt securities [1102]. - The company expects to continue funding capital investments through debt issuances on the Mexican capital markets, subject to market conditions [1102]. Financial Instruments - The company recognized a gain of Ps.130.6 million in the reserve for the gain on cash flow hedges for the year ended December 31, 2022 [1114]. - As of December 31, 2022, the company had no outstanding forward foreign exchange contracts [1101].
Grupo Aeroportuario del Pacifico(PAC) - 2022 Q4 - Earnings Call Transcript
2023-02-22 23:34
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Q4 2022 Earnings Conference Call February 22, 2023 11:00 AM ET Company Participants Raul Revuelta - Chief Executive Officer Saul Villarreal - Chief Financial Officer Conference Call Participants Guilherme Mendes - JPMorgan Rodolfo Ramos - Bradesco BBI Alberto Valerio - UBS Anton Mortenkotter - GBM Pablo Monsivais - Barclays Gabriel Himelfarb - Scotiabank Operator Good day, everyone, and welcome to our Conference Call Fourth Quarter 2022. At this ti ...
Grupo Aeroportuario del Pacifico(PAC) - 2022 Q3 - Earnings Call Transcript
2022-10-25 21:08
Grupo Aeroportuario del PacÃfico, S.A.B. de C.V. (NYSE:PAC) Q3 2022 Earnings Conference Call October 25, 2022 11:00 AM ET Company Participants Maria Barona - IR Raul Revuelta - CEO Saul Villarreal - CFO Conference Call Participants Rodolfo Ramos - Bradesco BBI Alejandro Zamacona - Credit Suisse Pablo Monsivais - Barclays Filipe Nielsen - Citi Gabriel Himelfarb - Scotiabank Alan Macias - Bank of America Guilherme Mendes - JPMorgan Operator Good morning and welcome to GAP's Third Quarter 2022 Conference Call. ...
Grupo Aeroportuario del Pacifico(PAC) - 2022 Q1 - Earnings Call Transcript
2022-04-27 17:52
Financial Data and Key Metrics Changes - The company reported solid results in Q1 2022, reflecting a recovery in the Mexican travel industry, with nearly 30 million passengers served [6]. Business Line Data and Key Metrics Changes - Specific data on individual business lines was not provided in the available content. Market Data and Key Metrics Changes - The overall recovery in the Mexican travel industry positively impacted the company's performance, although detailed market data was not disclosed [6]. Company Strategy and Development Direction and Industry Competition - The company is focused on capitalizing on the recovery trend in the travel industry, indicating a strategic alignment with market conditions [6]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the recovery in the travel sector, which is expected to continue benefiting the company's operations [6]. Other Important Information - Forward-looking statements were made, cautioning that actual results may differ due to various factors affecting future performance [4]. Q&A Session Summary - No specific questions and answers were provided in the available content.
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q4 - Annual Report
2022-04-22 15:23
Commission File Number: 001-32751 GRUPO AEROPORTUARIO DEL PACÍFICO S.A.B. DE C.V. (PACIFIC AIRPORT GROUP) (Translation of registrant's name into English) México (Jurisdiction of incorporation or organization) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2022 Avenida Mariano Otero No. 1249-B Torre Pacifico, Piso 6 Col. Rinconada del Bosque 445 ...
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q4 - Annual Report
2022-04-22 11:32
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, 2021 Commission File Number: 001-32751 Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | | | | --- | --- | --- | | Pacific Airport Group United Mexican States | | | | (Transla ...
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q4 - Earnings Call Transcript
2022-02-24 23:09
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC) Q4 2021 Earnings Conference Call February 24, 2022 11:00 AM ET Company Participants Maria Barona - IR Raul Revuelta - CEO Saul Villarreal - CFO Alejandra Soto - IRO Conference Call Participants Guilherme Mendes - JPMorgan Pablo Monsivais - Barclays Alan Macias - Bank of America Gabriel Himelfarb - Scotiabank Naoki Otsuka - GBM Filipe Nielsen - Citibank Alejandro Zamacona - Credit Suisse Operator Good morning and welcome to GAP's Fourth Quarter 2021 ...
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q3 - Earnings Call Transcript
2021-11-02 17:30
Grupo Aeroportuario del PacÃfico, S.A.B. de C.V. (NYSE:PAC) Q3 2021 Earnings Conference Call October 29, 2021 11:00 AM ET Company Participants Paulina Sanchez – Investor Relations Raul Revuelta – Chief Executive Officer Saul Villarreal – Chief Financial Officer Conference Call Participants Alejandro Zamacona – Credit Suisse Guilherme Mendes – JPMorgan Stephen Trent – Citibank Naoki Otsuka – GBM Gabriel Himelfarb – Scotiabank Manuel Barra – Barclays Operator Good morning, and welcome to GAPÂ's Third Quarter ...
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q2 - Earnings Call Transcript
2021-07-31 04:25
Grupo Aeroportuario del Pacifico SAB de CV (NYSE:PAC) Q2 2021 Earnings Conference Call July 30, 2021 11:00 AM ET Company Participants Paulina Sánchez - IR Officer Raul Revuelta - CEO Saul Villarreal - CFO Alejandra Soto - IRO Conference Call Participants Pablo Monsivais - Barclays Bank Javier Gayol - GBM Alejandro Zamacona - Crédit Suisse Francisco Suarez - Scotiabank Rodolfo Ramos - Bradesco BBI Guilherme Mendes - JPMorgan Chase & Co. Operator Good morning, and welcome to GAP's Second Quarter 2021 Conferen ...
Grupo Aeroportuario del Pacifico(PAC) - 2021 Q1 - Earnings Call Transcript
2021-04-30 21:04
Financial Data and Key Metrics Changes - GAP experienced a 37% decline in traffic year-over-year and a 38% decline compared to 2019, primarily due to the ongoing pandemic [5][6] - Cash and cash equivalents increased by 34% or Ps. 3.7 billion year-over-year, totaling Ps. 14.7 billion [10] - Aeronautical revenue decreased by 34%, driven by a 46.9% drop in international passenger traffic [12] - EBITDA for the quarter was Ps. 1.8 billion, with an EBITDA margin of 65% [15] Business Line Data and Key Metrics Changes - Domestic traffic showed signs of recovery, particularly in Tijuana, which saw a 9% decline compared to Q1 2019, while Guadalajara experienced a 36% decrease [6] - Commercial revenue decreased by 37%, largely due to impacts from duty-free operations [13] - Operating costs were reduced by 9% compared to Q1 2020, with significant declines in maintenance and utility expenses [14] Market Data and Key Metrics Changes - International passenger traffic continued to be affected by travel restrictions imposed by the US, Canada, and the UK [7] - The recovery of domestic traffic is expected to continue, with optimism for international recovery as vaccination rates rise [7][8] Company Strategy and Development Direction - GAP is focusing on maintaining a strong balance sheet and has restarted share repurchases, acquiring 24 million shares for Ps. 531 million [10] - The company is initiating the construction of a new commercial complex at Guadalajara airport, expected to be completed by early 2023 [14] - GAP plans to issue a new tranche of debt bonds for Ps. 3 billion to refinance maturing debt [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of domestic traffic and potential international recovery, particularly in leisure markets [7][30] - The company anticipates a traffic growth of 27% to 30% in 2021, aiming for 33 to 35 million passengers [54] - Management noted that the recovery pace will vary by airport, with Tijuana expected to recover faster than Guadalajara [21][40] Other Important Information - S&P and Moody's reaffirmed their AAA rating for GAP due to solid results [11] - The company is exploring opportunities for new routes and partnerships with airlines like AeroMexico and Boladis [28][30] Q&A Session Summary Question: What is the traffic recovery period assumption? - Management expects to return to 2019 passenger levels by 2024, but is optimistic for a quicker recovery in 2023 [21] Question: Discussions with Interjet regarding operations? - Interjet accounted for about 10% of GAP's traffic, but routes were not exclusive, allowing other airlines to fill the gap [24] Question: Tariff strategy for this year? - Management plans to gradually approach maximum tariff fulfillment by the end of 2021, expecting 100% fulfillment in the coming years [28] Question: Perspectives for traffic in Guadalajara? - Guadalajara has a mix of leisure and business traffic, with recovery expected to depend on the economy of California and domestic leisure travel [40] Question: Impact of outsourcing bill on labor costs? - The potential impact is estimated to be around Ps. 60 million to Ps. 70 million, which is less than 1% of total costs [46] Question: Growth planning and acquisitions? - Currently, there are no acquisition opportunities being reviewed aside from Barbados, but the Caribbean and Central America are regions of interest [49] Question: Construction of the second runway in Guadalajara? - The second runway is expected to be completed by 2023, with plans for increased commercial revenues through new business lines [53]