#Mexico #Mexico City #revenue growth #ASUR #Grupo Aeroportuario

ASUR Financial Results for Q4 2024

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR), recognized for operating multiple prominent international airports, recently released its financial and operational results for the fourth quarter (Q4) of 2024, marking both achievements and challenges in passenger traffic across its network in Mexico, Puerto Rico, and Colombia.

Key Highlights of Q4 2024

In total, ASUR experienced a minor year-over-year decrease of 0.3% in overall passenger traffic. However, this negligible decline masked significant variations in different regions:

• - Mexico: Passenger counts fell by 8.0% compared to the previous year. This decline included a drop of 7.5% in international travel and 8.6% in domestic travel.
• - Puerto Rico: In a bright spot for ASUR, passenger numbers surged by 9.6%, fueled by substantial increases in both international (up 28.9%) and domestic (up 7.3%) travel.
• - Colombia: ASUR enjoyed a remarkable 14.1% increase in passenger traffic, reflecting a 20.4% rise in international passengers and a 12.5% improvement in domestic passenger numbers.

Financial Performance

Despite the ongoing challenges in certain areas, ASUR reported a 31.2% increase in total revenues, reaching Ps. 9,020.6 million for Q4. Even when construction services are excluded from the figures, revenue growth remained solid at 19.0% year over year. Noteworthy financial metrics include:

• - Revenue per passenger rose by 9.4% to Ps. 130.2.
• - EBITDA increased by 22.5% compared to the same quarter last year, reaching Ps. 5,111.3 million.
• - The Adjusted EBITDA margin improved from 67.7% in Q4 2023 to 69.7% in Q4 2024.
• - The company concluded the year with a strong cash position of Ps. 20,083.4 million, and an impressive cash-to-debt ratio of negative 0.3x, indicating reduced dependency on debt financing.

Detailed Operational Indicators

In terms of financial specifics, ASUR's results for the quarter showcased:

• - Total Revenue Growth:

- Mexico: Increased from Ps. 5,113 million to Ps. 6,707 million (up 31.2%).
- Puerto Rico: Rose from Ps. 1,065 million to Ps. 1,384 million (up 30.0%).
- Colombia: Grew from Ps. 698 million to Ps. 928 million (up 32.9%).

• - Net Income: Surged 37.2% from Ps. 2,617 million to Ps. 3,590 million. The increase in earnings per share was particularly striking, jumping to Ps. 11.38 from Ps. 8.46.
• - Capital Expenditures: Exceeded Ps. 2.53 billion, marking a staggering increase of 257.9%, reflecting the company's ongoing investment in its airport infrastructure.

Looking Ahead

The latest quarterly results underline ASUR's resilience in navigating an uneven recovery landscape in air travel. International operations in Puerto Rico and Colombia demonstrated significant recovery efforts, symbolizing optimism for the future as travel demand rebounds. However, the drop in traffic within Mexico suggests ASUR must focus on addressing domestic challenges to ensure balanced growth across all operations.

ASUR will hold its earnings call on Tuesday, February 25, 2025, at 9:00 AM ET, to discuss these results further and outline future strategies. Investors, analyst, and stakeholders are encouraged to attend for insights into the company's roadmap post-COVID and its strategic initiatives moving forward.

In summary, ASUR's Q4 2024 earnings reveal a company poised for continued growth amidst the evolving dynamics of the airline industry. The firm is navigating through challenges while capitalizing on opportunities in market segments showing resilience and recovery.

For detailed financial tables and operational highlights, please refer to ASUR’s official website or their financial disclosures.