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Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a prominent airport operator headquartered in Mexico City, Mexico. ASUR is listed both on the Mexican Bolsa (ASUR) and on the NYSE (ASR). The company manages a portfolio of 16 airports across the Americas, with nine in southeast Mexico, including the renowned Cancun Airport, and six in northern Colombia. ASUR also holds a 60% stake in Aerostar Airport Holdings, which operates the Luis Muñoz Marín International Airport in San Juan, Puerto Rico.
As the third-largest airport services provider by passenger traffic in Mexico, ASUR generates the majority of its revenue from the Cancun segment. The company's business model includes operating, maintaining, and developing airport facilities, ensuring efficient and high-quality service for passengers and cargo.
ASUR has recently reported its financial results for various periods, demonstrating its robust financial health and growth. For example, the results for the three-month period ending March 31, 2024, were announced on April 22, 2024. The company also held earnings calls to discuss its performance and future outlook, emphasizing its transparency and commitment to investor relations.
ASUR's operations are regulated by concession agreements with the Mexican government, which include provisions for periodic amendments to tariff regulations. These adjustments ensure that the company remains compliant with legal and regulatory standards while optimizing its financial performance.
One of ASUR's key achievements is its inclusion in the Dow Jones Sustainability Emerging Markets Index (DJSI EM), highlighting its commitment to sustainable and responsible business practices. The company continues to explore opportunities for expansion and improvement, with approved development programs for its Mexican concessions for 2024-2028.
For more information, visit ASUR's official website.
Grupo Aeroportuario del Sureste (ASR) reported July 2021 total passenger traffic of 5.2 million, a 1.5% decline from July 2019, showcasing ongoing recovery in travel demand amid vaccination rollout. Domestic traffic in Mexico decreased by 4.8% while Puerto Rico saw a 15.6% increase. Year-to-date figures show a 65.7% rise compared to 2020 but a 25.1% drop from 2019. International traffic also decreased 3.8% year over year. Strong recovery trends were evident in some regions, despite the overall challenges posed by COVID-19 restrictions.
Grupo Aeroportuario del Sureste (ASR) reported remarkable 2Q21 results, with total passenger traffic soaring 13.5 times YoY, reflecting pandemic recovery. Total revenues surged by 139.3% to Ps.4.23 billion, while EBITDA skyrocketed to Ps.2.50 billion, a 47.9 times increase from last year. Despite these gains, passenger traffic remained 14.4% below pre-pandemic levels, and commercial revenues per passenger dropped by 66.4%. The company ended the quarter with cash reserves of Ps.7.84 billion and a net debt-to-EBITDA ratio of 0.9x, indicating a stable financial position.
Grupo Aeroportuario del Sureste (ASR) reported June 2021 passenger traffic of 4.6 million, a 5.1% decline from June 2019 figures, reflecting ongoing travel demand issues amid COVID-19 restrictions. Mexico saw a 7.1% decrease, while Colombia's traffic dropped 15.6%. In contrast, Puerto Rico experienced a 13.7% increase in passenger numbers. Year-to-date totals reveal a significant recovery, with traffic rising 50.9% compared to 2020, although still down 19% from pre-pandemic levels.
Grupo Aeroportuario del Sureste (ASR) announced a cash dividend of Ps.8.21 per share, approved at the General Ordinary Shareholders' Meeting on April 23, 2020. The dividend payment date is set for October 1, 2021. ASUR operates 16 airports in Mexico and Colombia, including Cancun Airport and Medellin International Airport, playing a significant role in tourism and connectivity in the Americas.
Grupo Aeroportuario del Sureste (ASR) reported a year-over-year increase in total passenger traffic for May 2021, reaching 4.0 million, a recovery of 0.6 million from May 2020. However, this remains 13.2% below pre-pandemic levels from May 2019. Traffic in Mexico and Colombia declined by 13.2% and 36.3%, respectively, while Puerto Rico saw a rise of 15.4%. Year-to-date figures show a total of 16.17 million passengers, down 29.6% from 2019, indicating ongoing challenges in the aviation sector due to COVID-19 restrictions.
Grupo Aeroportuario del Sureste (ASUR) announced a significant regulatory update regarding the U.S. Federal Aviation Administration (FAA) downgrading the Mexican government's aviation safety rating from Category 2 to Category 1. This change could enhance ASUR's operational opportunities and international flight access. ASUR operates 16 airports across Mexico, the U.S., and Colombia, including key locations like Cancun Airport and Medellin International Airport. This FAA decision aligns with ASUR's growth strategy, potentially boosting its market performance.
Grupo Aeroportuario del Sureste (ASR) reported a significant year-over-year recovery in passenger traffic for April 2021, totaling 3.5 million passengers, up from 0.2 million in April 2020. This increase translates to a 1.2 million passenger rise; however, it remains 28.1% below pre-pandemic levels of April 2019. Notably, traffic in Puerto Rico increased by 1.7%, while declines were seen in both Mexico and Colombia, indicating ongoing challenges due to travel restrictions. Year-to-date performance also reflects 32.1% lower traffic compared to 2019.
Grupo Aeroportuario del Sureste (ASR) reported a 30.2% YoY decline in total revenue to Ps.2,899.7 million for 1Q21, reflecting the ongoing pandemic's impact. Passenger traffic decreased by 32.2% YoY, with significant drops in international traffic across all regions. Consolidated EBITDA fell 42.0% YoY to Ps.1,592.5 million, despite an improvement from previous quarters. The company ended with cash equivalents of Ps.5,739.8 million and a net debt-to-EBITDA ratio of 2.1x. ASUR also completed an Extraordinary Maximum Tariff Review Process in Mexico.
On April 22, 2021, at the General Ordinary Shareholders' Meeting in Mexico City, Grupo Aeroportuario del Sureste (ASUR) approved various resolutions regarding its operations for the fiscal year ended December 31, 2020. Key decisions included the approval of audited financial statements, allocation of accumulated profits for share repurchase, and setting aside a portion for legal reserves. The Board of Directors received ratification, including Fernando Chico Pardo as Chairman. The meeting focused on enhancing corporate governance and transparency, reinforcing ASUR's commitment to its shareholders.
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