Mexico · Delayed Price · Currency is MXN Grupo Aeroportuario del Sureste, S. A. B. de C. V. Earnings Call Transcripts
Fiscal Year 2026
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Revenue remained stable as non-aeronautical growth offset softer aeronautical performance, with EBITDA up 9% and net income up 7% year-over-year. Passenger traffic declined, mainly in Mexico and Puerto Rico, but recovery is expected in the winter season. Motiva acquisition and major terminal expansions are on track.
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Revenue grew 2.2% year-on-year, driven by non-aeronautical gains and U.S. integration, while net income fell 20% due to higher costs and FX impacts. Passenger traffic rose 1.9%, led by Colombia, with mixed trends expected ahead.
Fiscal Year 2025
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Q4 2025 saw flat revenues and a 5% EBITDA decline, with strong growth in Colombia offsetting softness in Mexico and Puerto Rico. Major acquisitions in the U.S. and Latin America expand the network, while leverage remains low and CapEx robust.
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Q3 2025 saw stable passenger volumes overall, with growth in Colombia and Puerto Rico offsetting declines in Mexico. Revenues rose mid-single digits, EBITDA grew slightly, and a major U.S. airport acquisition was announced. Cash position declined due to dividends.
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Q2 saw flat passenger traffic overall, with revenue up 5% and EBITDA up 2% year-over-year, led by Puerto Rico and Colombia. Mexico's international traffic declined, but stabilization is expected next year as Tulum Airport normalizes.
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First quarter saw 14% revenue growth and 12% EBITDA increase, with strong performance in Puerto Rico and Colombia offsetting softer Mexico traffic. Major CapEx projects are underway, and a significant dividend is proposed, while management remains cautious on macro risks and traffic normalization.
Fiscal Year 2024
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Quarterly revenue rose 19% and EBITDA 23% year-over-year, driven by strong growth in Colombia and Puerto Rico, while Mexico faced traffic declines due to capacity and engine issues. Major capex projects are underway, and FX gains boosted net income by 33%.
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Passenger traffic declined 2% year-on-year, with strong growth in Colombia and Puerto Rico offset by weakness in Mexico. Net income rose 28% to MXN 3.4 billion, aided by FX gains, while EBITDA grew 12%. Ongoing engine issues and airport capacity limits continue to impact Mexican operations.
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Q2 2024 saw record passenger traffic and a 50% rise in net income, driven by strong results in Colombia and Puerto Rico, while Mexico faced headwinds from engine recalls and reduced airport capacity. Commercial revenues outpaced traffic growth, and the company maintained a robust cash position.