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GUADALAJARA, Mexico, March 07, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced the following: Pursuant to a resolution adopted by our board of directors on February 24, 2025, and in accordance with Articles 180, 181, 182 and other applicable articles of the Mexican General Corporate Law and Article 35 of the Company’s by-laws, Grupo Aeroportuario del Pacífico, S.A.B. de C.V. invites its shareholders to the General Ordinary S ...

Financial Data and Key Metrics Changes - Total revenues for Q4 2024 increased by 19% year-on-year to MXN 7.4 billion, reflecting strong performance across all regions [11][12][22] - Net majority income for the year rose 33% year-on-year to MXN 13.6 billion, supported by resilient operational performance and a foreign exchange gain of MXN 2 billion [22][23] - Consolidated EBITDA increased by 23% year-on-year to over MXN 5 billion, with an adjusted EBITDA margin improving by 200 basis points to 69.7% [18] Business Line Data and Key Metrics Changes - Passenger traffic was flat year-on-year, down 0.3% at 17.7 million passengers for Q4, with full-year traffic at 71 million [5] - Colombia's revenue grew by 30%, while Mexico and Puerto Rico saw low teens growth, with Mexico accounting for 72% of total revenues [12][13] - Commercial revenues per passenger grew in the high single digits year-on-year, reaching MXN 130 in Q4 [15] Market Data and Key Metrics Changes - Colombia experienced mid-teens growth in passenger traffic, with international traffic up 29% and domestic traffic up 7% [6][7] - Puerto Rico's total traffic increased nearly 10%, supported by a strong growth in international traffic [7] - Mexico's performance remained soft, with an 8% decline in passenger traffic, affected by Pratt & Whitney engine restrictions and capacity constraints at Mexico City Airport [8][9] Company Strategy and Development Direction - The company aims to strengthen its airport network through strategic infrastructure investments to enhance passenger experience and expand commercial opportunities [22][23] - Expansion projects include the construction and expansion of Terminal 1 at Cancun Airport, expected to be completed by 2026, and Terminal 4 by 2028 [21] - The company is focused on recovering commercial opportunities lost due to capacity restrictions, particularly in Terminal 2 [29][46] Management's Comments on Operating Environment and Future Outlook - Management expects traffic trends to normalize in Q1 2025 towards sustainable levels, with improvements anticipated by the end of Q3 2025 regarding capacity restrictions [28][33] - The company acknowledges ongoing challenges from Pratt & Whitney engine issues but expects a gradual improvement in operations [27][93] - Management remains optimistic about the resilience of markets like Colombia and Puerto Rico, with expectations for continued growth [50] Other Important Information - Total expenses increased by 13% year-on-year, primarily due to increased concession fees and minimum wages in Mexico [17] - Capital expenditure accelerated to MXN 2.5 billion in Q4, accounting for half of the total MXN 4.4 billion for the year [19][20] Q&A Session Summary Question: Traffic growth expectations and airline network development in Mexico - Management indicated that traffic will continue to be affected by capacity restrictions and Pratt & Whitney issues, but improvements are expected by Q3 2025 [27][28] Question: Capacity increase at Mexico City Airport - Management noted that there are discussions about lifting capacity restrictions at Mexico City Airport, potentially by Q3 2025 [32][33] Question: International traffic flow nuances - Management reported that international traffic from Canada was nearly flat, with no significant changes due to political rhetoric in the U.S. [36][38] Question: Tulum Airport's impact on Cancun - Management confirmed that Tulum's traffic is included in regulatory calculations, but it is not termed as compensation [68][70] Question: Commercial revenue targets post-expansion - Management stated that there are no specific targets for commercial revenues per passenger, as it is a moving target [45][46] Question: Updates on Dominican Republic assets - Management indicated that there are no updates on the Dominican Republic asset, as the legal process continues [82][84]

Financial Data and Key Metrics Changes - Revenues totaled €9.5 billion, a 6.7% year-over-year increase on a like-for-like basis, driven primarily by higher revenues in Toll Roads and Construction [9] - Adjusted EBITDA surged to €1.3 billion, a 38.9% year-over-year increase on a like-for-like basis due mainly to a higher contribution from US Toll Road assets and the Construction business [9] - The construction order book reached an all-time high of €16.8 billion, with almost 50% coming from North America [9] - The net debt position ex-infrastructure projects reached minus €1.8 billion, indicating a strong financial position [5][9] - Total shareholder return in 2024 was 25.7% [9] Business Line Data and Key Metrics Changes Toll Roads - North American assets experienced robust traffic performance and revenue per transaction growth that significantly outpaced inflation [4] - Toll Road revenues increased by 19.6% and EBITDA by 19.5% on a like-for-like basis [15] - Total Toll Road dividends in 2024 were €895 million, €191 million more than the previous year [16] Airports - The new Terminal One at JFK reached 60% physical progress by the end of 2024, remaining on budget and on schedule [31] - Dalaman Airport recorded 5.6 million passengers, a 7.7% increase compared to the previous year, with revenues of €82 million and adjusted EBITDA of €64 million [33] Construction - Construction revenues reached €7.274 billion, a 3.8% increase year-over-year on a like-for-like basis [34] - Adjusted EBITDA was €430 million, a 95.4% increase compared to the previous year [34] - The adjusted EBIT margin improved to 3.9%, surpassing the target of 3.5% [35] Market Data and Key Metrics Changes - Traffic in the Greater Toronto Area grew 4.8%, supported by increased mobility and fewer winter weather events [19] - The Dallas-Fort Worth area was the number one destination for relocations, with a projected population growth of 55% by 2050 [23] Company Strategy and Development Direction - The company aims to focus on growth opportunities in North America, particularly in Toll Roads and airports [11] - Sustainability is at the core of the company's strategy, with specific targets for CO2 emissions reduction and water consumption [14] - The company plans to rotate mature assets when they offer more value to third parties [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in growth prospects, emphasizing the balance between new investments and shareholder distributions [52] - The company is optimistic about the performance of its North American assets and the potential for new managed lanes [11][12] Other Important Information - The company repurchased shares totaling €272 million and returned $831 million to shareholders, including €271 million from the 2023 program [6] - The company has upgraded its shareholder distribution guidance from €1.7 billion to a minimum of €2.2 billion for the period 2024 to 2026 [48] Q&A Session Summary Question: Current status on investments in other infrastructure projects in the US - The company is looking for opportunities in airports and other infrastructure but has no specific projects to announce yet [58][60] Question: Could the announced additional buyback program be extended to next year? - The company is open to extending the buyback program based on investment opportunities [63] Question: Guidance for higher earnings expectations for the 407 in 2025 - The management is optimistic about the new tariffs and promotions but does not provide specific guidance [66][68] Question: Impact of tariffs under the Trump administration - The company believes it is too early to assess the impact, as most purchases are local [70][71] Question: Conservative approach to the balance sheet - The company is focused on maintaining flexibility for potential investment opportunities while managing shareholder distributions [73][76] Question: Plans for treasury stock - The company has not decided on the cancellation of treasury stock, which could be used for various purposes [88]

Financial Data and Key Metrics Changes - In Q4 2024, total passenger traffic increased by 4.6% compared to Q4 2023, with domestic traffic growing by 1.5% and international traffic surging by 26.4% [8][19][21] - For the full year 2024, domestic traffic declined by 3.5%, while international traffic increased by 15% compared to 2023 [9][10] - Adjusted EBITDA for Q4 2024 reached Ps.2.4 billion, with an adjusted EBITDA margin of 73.8% [36] - Consolidated net income for Q4 2024 was Ps.1.2 billion, a decrease of 5.9% compared to Q4 2023 [38] Business Line Data and Key Metrics Changes - Restaurant revenues grew by 22%, VIP lounge revenues increased by 51%, and parking revenues rose significantly, contributing to a record high commercial revenue per passenger of Ps.60 in 2024, a 17% increase from 2023 [11][14] - OMA Cargo business grew by 22% in 2024, driven by organizational changes aimed at improving efficiency and customer service [12] - Hotel services revenue increased by nearly 20% compared to 2023, while industrial service revenue grew by 61% for the full year [13][14] Market Data and Key Metrics Changes - The combination of operational restrictions at Mexico City Airport and limited aircraft availability reshaped traffic dynamics, leading to a shift in airline strategies towards international routes [6][7] - The demand for flights between Monterrey and Mexico City metropolitan area grew by 8.18% in 2024, despite overall domestic traffic decline [9] Company Strategy and Development Direction - The company is focusing on expanding its Monterrey Airport, with ongoing projects aimed at increasing passenger capacity to nearly 16 million annually by early 2026 [16][17] - The strategy includes enhancing international connectivity by launching new routes and strengthening the airport's position as a major hub in Northern Mexico [8][21] Management's Comments on Operating Environment and Future Outlook - Management noted a recovery in domestic capacity deployment by main carriers and expects mid-single-digit growth in passenger traffic for 2025 [43][44] - The company is optimistic about the development of Monterrey's route network and sees potential for further growth in international traffic [44][68] Other Important Information - All 13 OMA airports achieved Level 3 Optimization Certification on the Airport Carbon Accreditation Program, highlighting the company's commitment to sustainable airport management [27] - The concession tax increased by 97% to Ps.265 million due to a rate hike, impacting financial results [34] Q&A Session Summary Question: Traffic outlook for this year and Monterrey's route network development - Management expects mid-single-digit growth in passenger traffic for 2025, with opportunities to further develop Monterrey as a connecting hub [43][44] Question: MDP expectations and CapEx ramp-up - Management is working on an optimized CapEx plan to maximize net present value without putting unnecessary pressure on tariffs [45] Question: Timing for MDP announcement and cost pressures - The MDP plan will be presented by the end of June, with expectations of inflationary cost increases in 2025 [59][60] Question: Interest expense increase and future expectations - The increase in interest expense is related to adjustments in the major maintenance provision, which is sensitive to interest rate variations [72][73] Question: Traffic guidance for Monterrey - Monterrey is expected to drive growth, with traffic projections incorporating some macroeconomic volatility [94] Question: Strategy behind short-term loan - The short-term loan was aimed at strengthening working capital and is expected to be refinanced with long-term debt [112]