Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Amer. Dep. Shares (each rep. 10 Ser. B shares) - PAC STOCK NEWS

Grupo Aeroportuario del Pacífico (PAC) reported a 14.2% increase in total terminal passenger traffic for March 2023, compared to the same month in 2022, across its 12 airports in Mexico. Key airports such as Guadalajara, Los Cabos, Puerto Vallarta, and Tijuana saw significant growth, with Guadalajara alone experiencing a 18.7% rise in domestic passengers. International traffic also rose by 17.1%, led by Montego Bay and Kingston, which reported 27.4% and 38.1% increases, respectively. Despite a 17.3% increase in available seats, the load factor slightly decreased to 79.7%.

Grupo Aeroportuario del Pacífico (PAC) announced the successful issuance of 54 million bond certificates in Mexico, totaling Ps. 5.4 billion. The issuance was oversubscribed 3.2x, with two types of certificates offered: GAP23-L and GAP23-2L. The former issued 11.2 million certificates due in 2026 with variable interest, while the latter issued 42.8 million certificates due in 2030 with a fixed rate of 9.65%. Proceeds will cover maturing bonds and invest in capital projects. The bonds received top credit ratings of Aaa.mx and mxAAA, reflecting strong financial health.

On March 6, 2023, Grupo Aeroportuario del Pacífico (PAC) announced key management appointments aimed at enhancing sustainability, innovation, and passenger experience. Alejandra Soto was appointed as Investor Relations and Social Responsibility Officer, bringing 15 years of experience in the company, along with expertise in finance and sustainability. Susana Romero was named Chief Commercial Officer, having over a decade of experience in commercial roles within PAC. These strategic changes align with GAP's ongoing projects to boost operational efficiency and stakeholder engagement.

Grupo Aeroportuario del Pacífico (PAC) reported a 21.8% increase in terminal passenger traffic for February 2023 compared to February 2022. Notable growth was observed at major airports: Puerto Vallarta saw a 31.9% rise, Guadalajara 26.0%, Los Cabos 24.5%, and Tijuana 12.5%. International traffic increased by 29.5%, with Montego Bay leading at 49.5%. The total number of passengers reached 4.72 million for February, marking a 24.3% annual increase. The number of available seats also rose by 18.6%, improving load factors from 70.8% to 77.9%.

Grupo Aeroportuario del Pacífico (PAC) has called a General Ordinary and Extraordinary Shareholders' Meeting on April 13, 2023, to address important matters, including the 2022 financial results and dividend approvals. Key highlights include a reported net income of Ps. 8,882,181,314, with a proposed 5% allocation to legal reserves and a dividend of Ps. 14.84 per share from retained earnings. Additionally, the agenda includes board member designations and the establishment of a Sustainability Committee. Shareholders must be registered to attend and obtain admission cards.

Grupo Aeroportuario del Pacífico (PAC) reported significant growth in 4Q22, with total revenues up by 54.3% year-over-year, reaching Ps. 8,005.7 million. Aeronautical revenues increased by 31.9% and non-aeronautical revenues rose 28.2%. EBITDA also improved by 30.6%, totaling Ps. 4,252.4 million. Despite increased costs of services by 77.4%, net income saw a slight rise of 1.6%. Passenger traffic increased by 20.8% compared to 4Q21. The company expanded operations by opening new domestic and international routes. However, comprehensive income fell 15.2% from 4Q21, primarily due to increased income taxes and currency translation losses.

Grupo Aeroportuario del Pacífico (PAC) reported a 30.0% increase in total terminal passenger traffic for January 2023 over January 2022, across its 12 Mexican airports.

Notable increases were observed in Puerto Vallarta (46.5%), Los Cabos (39.2%), Guadalajara (31.7%), and Tijuana (20.1%). International passenger traffic also surged by 38.8%, with Montego Bay showing a remarkable 67.6% increase.

New routes have been established, and overall seating capacity rose by 15.3%, leading to improved load factors which increased from 68.7% to 79.2%.

Grupo Aeroportuario del Pacífico (PAC) announced its 2023 guidance, projecting a 6%-8% increase in passenger traffic, 12%-14% growth in aeronautical revenue, and 13%-15% in non-aeronautical revenue. Total revenue is expected to rise by 12%-14%, with EBITDA forecasted to increase by 10%-12% while maintaining an EBITDA margin of 70% ± 1%. The company is allocating Ps. 10.2 billion for CAPEX investments under its development programs. These projections hinge on assumptions regarding industry growth, airline performance, and economic conditions, which may be subject to change due to external factors.

Grupo Aeroportuario del Pacífico (PAC) announced a drawdown of Ps. 1.0 billion from a credit facility with Citibanamex. The loan has an 18-month term with monthly interest payments at a variable rate of TIIE-28 plus 30 basis points, with principal due at maturity. Funds will be allocated for capital investments. GAP operates 12 airports in Mexico's Pacific region, including significant cities such as Guadalajara and Tijuana, and holds a stake in airports in Jamaica.