The following is a summary of the Grupo Aeroportuario Del Sureste, S. A. B. De C. V. (ASR) Q4 2023 Earnings Call Transcript:
Financial Performance:
ASUR reported an increase in Q4 total revenues by nearly 5% to over MXN 6 billion, mainly driven by high single-digit growth in aeronautical and non-aeronautical services in Mexico, which accounted for 74% of revenues.
EBITDA rose by 1% to MXN 4.1 billion, with Mexico being the main profitability driver with a 5% increase.
The company ended the year with a strong cash position of nearly MXN 16 billion and a negative leverage ratio of 0.2x.
Business Progress:
A record high of over 70 million passengers were catered by ASUR across their airport network in the year.
The Mexican Airports' 2024-2028 master development plan was approved with the commitment of a total CapEx of MXN 28.5 billion for the next five years, largely directed towards expansion works at Cancun Airport.
Major projects underway at Cancun include the expansion of the International Terminal 4, a new road connecting the terminals, and expanding Terminal 1.
Remaining CapEx will be split between their eight other airports in Mexico, with around 7% allocated to Oaxaca, which will see a reconstruction and expansion of its terminal building.
On the sustainability side, ASUR completed the installation of solar panels at Tapachula and Huatulco airports and pledged for zero emissions by 2050.
ASUR also supports ecological tourism activities in various rural communities to promote additional income sources for locals.
More details: Grupo Aeroportuario del Sureste SAB de CV IR
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