The headline: Airports group grows net income by +62.6% and revenues by +11.8%, fuelled by new stores and an improved mix of products.
Key figures: For the first quarter ended 31 March 2003, total revenues were up +11.8% year-on-year to Ps364.7million (US$34.7 million). Commercial revenues were up +39.2% to Ps54.7 million (US$5.2 million) with duty free revenues up +10.4%. Net income rose +62.6% and EBITA rose +16.5% to Ps233.9 million (US$22.3 million).
Passenger traffic: Year-on-year total passenger traffic increased by +8.2%; domestic traffic increased by +5.0% and international traffic increased by +10.0%.
Coment: ASUR (Grupo Aeroportuario de Sureste) said its figures continued to reflect the improving trend in passenger traffic, particularly to and from the US, as shown in the rise in international passenger traffic. Total passenger traffic for the first quarter increased year-over-year at all ASUR airports except Huatulco, where traffic declined by -11.8%.
Growth in total revenues of +11.8% was mainly due to a year-on-year increase of +26.3% in revenues from non-aeronautical sources. Strong commercial revenues mainly resulted from efforts made to improve the mix of products offered to better reflect passenger demand. Food & beverage revenues rose +59.0% and duty free revenues rose +10.4%. Spending per passenger at the airports of Cancun, Merida and Cozumel increased in line with the improvement in the company’s understanding of passenger demand. New stores and restaurants were opened at Veracruz, Oaxaca and Huatulco airports. Retail revenues overall rose by +50.0%, reflecting the opening of new convenience stores at the airports of Huatulco, Tapachula, Villahermosa and Veracruz as well as the increase in the number of products available for purchase by travellers.
Advertising revenues were up +321.3% year-over-year, reflecting the additional space dedicated to advertising during 2002.
