#Mexico #Mexico City #Q3 2025 #ASUR #Grupo Aeroportuario

ASUR Reports Q3 2025 Financial Results

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR), recognized as a leading airport group operational in Mexico, the U.S., and Colombia, recently unveiled its performance metrics for the third quarter of 2025. This release emphasizes the travel patterns of passengers and areas of revenue growth and decline, revealing significant insights for stakeholders and investors alike.

Passenger Traffic Overview

In Q3 2025, the overall passenger traffic for ASUR saw a modest increase of 0.4% year-on-year. However, variations were notable across different countries:

• - Mexico: The overall traffic dropped by 1.1%, attributed to decreases in both international (0.3%) and domestic (1.8%) travelers.
• - Puerto Rico: Conversely, Aerostar reported a rise of 1.1%, featuring a substantial increase of 11.7% in international travelers and a slight uptick of 0.5% in domestic movement.
• - Colombia: Airplan noted the highest growth rate, exhibiting a 3.1% increase in traffic driven by an impressive 11.2% growth in international arrivals, along with a 0.8% rise in domestic traffic.

This divergence in passenger numbers illustrates the varying travel behaviors and economic conditions across regions which ASUR services.

Financial Performance Highlights

Despite the fluctuations in passenger numbers, ASUR's revenue demonstrated a robust increase of 17.1% year-on-year, amounting to Ps. 8,765.4 million. When factoring out construction services, the growth in revenue stands at 1.0% year-on-year. The breakdown is as follows:

• - Mexico recorded a remarkable revenue growth of 20.3%, totaling Ps. 6,479.1 million.
• - San Juan in Puerto Rico saw an increase of 9.1%, reaching Ps. 1,325.8 million.
• - Colombia also reflected positive results with a 9.0% increase in revenue, totaling Ps. 960.6 million.

In terms of operational efficiency, the commercial revenue per passenger increased slightly by 1.0% to Ps. 126.1.

However, it’s noteworthy that ASUR's consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) experienced a decline of 1.3% year-on-year, recording Ps. 4,639.4 million. This led to a drop in the adjusted EBITDA margin to 66.7%, down from 68.3% in the same period a year prior.

Strategic Developments

Beyond the quarterly results, ASUR is undertaking strategic steps to boost its operational footprint within the commercial airport sector in the U.S. Recently, the firm announced a significant agreement to acquire Unibail-Rodamco-Westfield's airport retail concessions at several major airports, including JFK and LAX. This acquisition, valued at US$295 million, is poised to enhance ASUR's presence in the lucrative U.S. market.

Future Outlook

With a healthy cash position of Ps. 16,259.3 million as of September 30, 2025, and a manageable debt-to-adjusted EBITDA ratio of 0.2, ASUR is well-positioned to navigate potential challenges and capitalize on growth opportunities. The analysis points towards a steadied recovery in travel as global conditions improve, which could reflect in stronger upcoming quarterly results.

In summary, while Q3 2025 encapsulated a mixed bag of results in terms of passenger traffic and financial performance, ASUR's strategic initiatives and robust financial position offers a promising outlook for the future, as they continue to adapt and enhance their operational strategies in an ever-evolving aviation landscape.