ASUR 1Q10 Passenger Traffic Down 3.63% YoY
Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR), (ASUR) the first privatized airport group in Mexico and operator of Cancun Airport and eight other airports in southeast Mexico, today announced results for the three-month period ended March 31, 2010.
1Q10 Highlights (1):
- EBITDA (2) increased by 2.88% to Ps.666.00 million
- Total passenger traffic was down 3.63%
- Total revenues declined by 1.45% due to declines of 2.49% in non-aeronautical revenues and 0.90% in aeronautical revenues
- Commercial revenues per passenger declined by 0.79% to Ps.60.15.
- Operating profit declined by 4.01%
- EBITDA margin declined to 68.63% compared with 69.64% in 1Q09
- Unless otherwise stated, all financial figures discussed in this announcement are unaudited, prepared in accordance with Mexican Financial Reporting Standards (MFRS) and represent comparisons between the three-month period ended March 31, 2010, and the equivalent three-month period ended March 31, 2009. Results are expressed in nominal pesos. Tables state figures in thousands of pesos, unless otherwise noted. Passenger figures exclude transit and general aviation passengers. Commercial revenues include revenues from non-permanent ground transportation and parking lots. All U.S. dollar figures are calculated at the exchange rate of US$1 = Ps.12.3306.
- EBITDA means net income before: provision for taxes, deferred taxes, deferred employees profit sharing, non-ordinary items, 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 or as an alternative to cash flow as an indicator of liquidity. Our management believes that EBITDA provides a useful measure of our performance that is widely used by investors and analysts to evaluate our performance and compare it with other companies. EBITDA is not defined under U.S. GAAP or MFRS and may be calculated differently by different companies.
Passenger Traffic
For the first quarter of 2010, total passenger traffic declined year-over-year by 3.63%. International passenger traffic declined by 3.52% while domestic passenger traffic declined by 3.86%.
The 3.52% decline in international passenger traffic resulted mainly from a decline of 4.03% in international traffic at theCancun
