ASUR ANNOUNCES 2Q24 RESULTS
Grupo Aeroportuario del Sureste (NYSE: ASR) reported its Q2 2024 results, showing a 2.8% year-over-year increase in total passenger traffic. Key highlights include:
- Revenues rose 20.1% YoY to Ps.7,394.0 million
- EBITDA grew 18.0% YoY to Ps.4,909.9 million
- Net Income increased 42.7% to Ps.3,779.4 million
- Earnings per Share reached Ps.12.2452, up 50.3%
Traffic varied by region: Mexico declined 4.7%, Puerto Rico increased 8.5%, and Colombia saw a significant 20.9% growth. The company maintained a strong financial position with Ps.14,997.0 million in cash and a negative Debt to LTM Adjusted EBITDA ratio of 0.2x.
Il Grupo Aeroportuario del Sureste (NYSE: ASR) ha riportato i risultati del secondo trimestre 2024, mostrando un aumento del 2,8% rispetto all'anno precedente nel traffico passeggeri totale. I punti salienti includono:
- I ricavi sono aumentati del 20,1% su base annua, arrivando a Ps.7.394,0 milioni
- EBITDA cresciuto del 18,0% su base annua, arrivando a Ps.4.909,9 milioni
- Utile netto aumentato del 42,7%, raggiungendo Ps.3.779,4 milioni
- Utile per azione salito a Ps.12.2452, con un incremento del 50,3%
Il traffico variera a seconda della regione: il Messico ha registrato un calo del 4,7%, Porto Rico un aumento dell'8,5% e la Colombia ha visto una significativa crescita del 20,9%. L'azienda ha mantenuto una solida posizione finanziaria con un cash flow di Ps.14.997,0 milioni e un rapporto Debito su EBITDA aggiustato LTM negativo di 0,2x.
Grupo Aeroportuario del Sureste (NYSE: ASR) presentó sus resultados del segundo trimestre de 2024, mostrando un incremento del 2.8% interanual en el tráfico total de pasajeros. Los aspectos más destacados incluyen:
- Los ingresos aumentaron un 20.1% en comparación con el año anterior, alcanzando Ps.7,394.0 millones
- EBITDA creció un 18.0% interanual, alcanzando Ps.4,909.9 millones
- Ingresos netos aumentaron un 42.7% a Ps.3,779.4 millones
- Ganancias por acción alcanzaron Ps.12.2452, un incremento del 50.3%
El tráfico varió según la región: México disminuyó un 4.7%, Puerto Rico incrementó un 8.5% y Colombia vio un crecimiento significativo del 20.9%. La compañía mantuvo una sólida posición financiera con Ps.14,997.0 millones en efectivo y una relación Deuda sobre EBITDA ajustado LTM negativa de 0.2x.
남동공항그룹(주)(NYSE: ASR)이 2024년 2분기 실적을 발표하며 전체 승객 수가 전년 대비 2.8% 증가했다고 밝혔습니다. 주요 내용을 살펴보면:
- 수익은 전년 대비 20.1% 증가하여 Ps.7,394.0백만에 도달했습니다.
- EBITDA는 전년 대비 18.0% 증가하여 Ps.4,909.9백만에 이르렀습니다.
- 순이익은 42.7% 증가하여 Ps.3,779.4백만에 도달했습니다.
- 주당 순이익은 Ps.12.2452에 도달하여 50.3% 증가했습니다.
지역별 트래픽은 다음과 같이 달라졌습니다: 멕시코는 4.7% 감소했으며, 푸에르토리코는 8.5% 증가했고, 콜롬비아는 20.9%의 상당한 성장을 보였습니다. 회사는 Ps.14,997.0백만의 현금과 부채 대 EBITDA 비율이 -0.2배인 강력한 재무 상태를 유지하고 있습니다.
Le Grupo Aeroportuario del Sureste (NYSE: ASR) a publié ses résultats du deuxième trimestre 2024, montrant une augmentation de 2,8 % par rapport à l'année précédente du trafic total de passagers. Les points forts incluent :
- Les revenus ont augmenté de 20,1 % en glissement annuel, atteignant Ps.7 394,0 millions
- EBITDA a progressé de 18,0 % en glissement annuel, atteignant Ps.4 909,9 millions
- Le bénéfice net a augmenté de 42,7 % à Ps.3 779,4 millions
- Le bénéfice par action a atteint Ps.12,2452, soit une hausse de 50,3 %.
Le trafic a varié selon les régions : le Mexique a enregistré une baisse de 4,7 %, Porto Rico une hausse de 8,5 % et la Colombie une croissance significative de 20,9 %. L'entreprise a maintenu une solide position financière avec Ps.14 997,0 millions de liquidités et un ratio de dette par rapport à l'EBITDA ajusté LTM négatif de 0,2x.
Grupo Aeroportuario del Sureste (NYSE: ASR) berichtete über seine Ergebnisse für das 2. Quartal 2024, die einen Jahreszuwachs von 2,8% beim gesamten Passagieraufkommen zeigen. Wichtige Highlights sind:
- Die Einnahmen stiegen im Jahresvergleich um 20,1% auf Ps.7.394,0 Millionen
- EBITDA wuchs um 18,0% im Jahresvergleich und erreichte Ps.4.909,9 Millionen
- Der Nettogewinn stieg um 42,7% auf Ps.3.779,4 Millionen
- Der Gewinn pro Aktie erreichte Ps.12.2452, was einem Anstieg von 50,3% entspricht.
Der Verkehr variierte je nach Region: Mexiko fiel um 4,7%, Puerto Rico stieg um 8,5% und Kolumbien erlebte ein bemerkenswertes Wachstum von 20,9%. Das Unternehmen hielt eine starke finanzielle Position mit Ps.14.997,0 Millionen in bar und einem negativen Schulden-zu-EBITDA-Verhältnis von 0,2x aufrecht.
- Total passenger traffic increased 2.8% year-over-year
- Revenues grew 20.1% YoY to Ps.7,394.0 million
- EBITDA increased 18.0% YoY to Ps.4,909.9 million
- Net Income rose 42.7% to Ps.3,779.4 million
- Earnings per Share increased 50.3% to Ps.12.2452
- Strong cash position of Ps.14,997.0 million
- Negative Debt to LTM Adjusted EBITDA ratio of 0.2x, indicating low leverage
- Passenger traffic in Mexico declined 4.7% YoY
- International traffic in Mexico decreased 2.5%
- Domestic traffic in Mexico fell 7.0%
Grupo Aeroportuario del Sureste (ASUR) has demonstrated solid financial growth in its 2Q24 results. Notably, revenues increased by
ASUR’s diverse geographical operations have proven to be a strategic advantage. The
ASUR's financial performance also reflects its ongoing investments in infrastructure and technology upgrades, as evidenced by the
Passenger Traffic Increased
2Q24 Highlights1
- Total passenger traffic increased
2.8% year-over-year ("YoY"). By country of operations, passenger traffic presented the following YoY variations:Mexico : declined4.7% , reflecting decreases of2.5% in international traffic and7.0% in domestic traffic.Puerto Rico (Aerostar): increased8.5% , driven by growth of7.8% and13.9% in domestic and in international traffic, respectively.Colombia (Airplan): increased20.9% , resulting from increases of29.6% in international traffic and18.8% in domestic traffic.
- Revenues increased
20.1% YoY to Ps.7,394.0 million. Excluding construction services, revenues increased17.7% during the period. - Consolidated revenues per Passenger increased
4.6% to Ps.127.9. - Consolidated EBITDA increased
18.0% YoY to Ps.4,909.9 million. - Adjusted EBITDA Margin (excluding IFRIC12) reached
69.2% compared to69.1% in 2Q23. - Closed 2Q24 with a cash position of Ps.14,997.0 million and Debt to LTM Adjusted EBITDA of negative 0.2x.
Table 1: Financial and Operating Highlights1 | |||
Second Quarter | % | ||
2023 | 2024 | ||
Financial Highlights | |||
Total Revenue | 6,156,443 | 7,394,010 | 20.1 |
4,541,133 | 5,428,666 | 19.5 | |
1,036,616 | 1,182,580 | 14.1 | |
578,694 | 782,764 | 35.3 | |
Commercial Revenues per PAX | 122.3 | 127.9 | 4.6 |
141.7 | 154.5 | 9.1 | |
146.4 | 147.2 | 0.6 | |
40.7 | 47.3 | 16.2 | |
EBITDA | 4,160,306 | 4,909,874 | 18.0 |
Net Income | 2,649,413 | 3,779,413 | 42.7 |
Majority Net Income | 2,444,711 | 3,673,567 | 50.3 |
Earnings per Share (in pesos) | 8.1490 | 12.2452 | 50.3 |
Earnings per ADS (in US$) | 4.4658 | 6.7105 | 50.3 |
Capex | 152,927 | 636,780 | 316.4 |
Cash & Cash Equivalents | 14,474,035 | 14,996,995 | 3.6 |
Net Debt | (1,326,708) | (2,842,542) | 114.3 |
Net Debt/ LTM EBITDA | (0.1) | (0.2) | 100.1 |
Operational Highlights | |||
Passenger Traffic | |||
10,697,831 | 10,193,640 | (4.7) | |
3,198,859 | 3,469,364 | 8.5 | |
3,389,611 | 4,099,011 | 20.9 |
1 Unless otherwise stated, all financial figures discussed in this press release are unaudited, prepared in accordance with International Financial Reporting Standards (IFRS), and represent comparisons between the three- and six-month periods ended June 30, 2024, and the equivalent three- and six-month periods ended June 30, 2023. All figures in this report are expressed in Mexican pesos, unless otherwise noted. Tables state figures in thousands of Mexican pesos, unless otherwise noted. Passenger figures for |
2Q24 Earnings Call
Day: Wednesday, July 24, 2024, at 10:00 AM ET; 8:00 AM Mexico City time
Dial-in: 1-877-407-4018 (Toll-Free) and 1-201-689-8471 (International)
Access Code: 13747378
Replay: Wednesday, July 24, 2024, at 2:00 PM ET, ending at 11:59 PM ET on Wednesday, July 31, 2024. Dial-in: 1-844-512-2921 (Toll-Free); 1-412-317-6671 (International). Access Code: 13747378
For a full version of ASUR's Second Quarter 2024 Earnings Release, please visit: https://www.asur.com.mx/informacion-financiera-page-0
Definitions
Concession Services Agreements (IFRIC 12 interpretation). In
Majority Net Income reflects ASUR's equity interests in each of its subsidiaries and therefore excludes the
EBITDA means net income before provision for taxes, deferred taxes, profit sharing, non-ordinary items, participation in the results of associates, comprehensive financing cost, and depreciation and amortization. EBITDA should not be considered as an alternative to net income, as an indicator of our operating performance, as an alternative to cash flow or as an indicator of liquidity. Our management believes that EBITDA provides a useful measure that is widely used by investors and analysts to evaluate our performance and compare it with other companies. EBITDA is not defined under
Adjusted EBITDA Margin is calculated by dividing EBITDA by total revenues excluding construction services revenues for
About ASUR
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain, and develop 16 airports in the
Analyst Coverage
In accordance with Article 4.033.01 of the Mexican Stock Exchange Internal Rules, ASUR reports that the stock is covered by the following broker-dealers: Actinver, Banorte, Barclays, BBVA, Bradesco, BTG Pactual, Citi Global Markets, GBM Grupo Bursatil, Goldman Sachs, HSBC Securities, Insight Investment Research, Intercam, Itau BBA Securities, Jefferies, JP Morgan, Punto Research, Santander, Scotiabank, Signum Research, UBS Casa de Bolsa and Vector.
Please note that any opinions, estimates or forecasts with respect to the performance of ASUR issued by these analysts reflect their own views, and therefore do not represent the opinions, estimates or forecasts of ASUR or its management. Although ASUR may refer to or distribute such statements, this does not imply that ASUR agrees with or endorses any information, conclusions or recommendations included therein.
Forward Looking Statements
Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR's filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.
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SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.
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