MEXICO. Duty free revenues surged by +35% year-on-year at Grupo Aeroportuario del Sureste (ASUR), which operates nine airports in the south-east of Mexico, including the key location of Cancún International. Aldeasa is the duty free concessionaire at ASUR’s airports.
ASUR’s total revenues for 2008 increased by +13.74% to Ps3,168.7 million (US$217 million). This was aided by a +21.49% rise in commercial revenues, principally as a result of increases from the following areas:
*+35.04% from duty-free revenues;
*+23.47% from retail revenues;
*+21.56% from advertising revenues;
*+28.62% from banking and currency exchange services;
*+20.49% from ground transportation services;
*+10.76% from teleservices;
*+10.15% from food & beverage;
*+1.84% from parking lot revenues;
*+10.66% from car rental companies; and
*+23.98% from other income.
The business was also boosted by a good performance in the fourth quarter. Total revenues for Q4 increased year-on-year by +14.20% to Ps.755.9 million (US$51.7 million). Commercial revenues grew by +17.47%, mainly as a result of revenue increases in the following areas:
*+26.53% in duty-free stores;
*+27.25% in banking and currency exchange services;
*+8.43% in advertising;
*+12.05% in ground transportation;
*+17.36% in retail operations;
*+23.59% in car rental companies;
*+8.47% in food & beverage;
*+11.36% in teleservices; and
*+29.57% in other revenues.
These increases were partially offset by a -8.27% decline in parking lot revenues.
The company said: “Retail revenues continued to benefit from higher concession fees from local craft and specialty shops, teleservices and tour operators. The increase in car rental revenues reflects rate increases negotiated in October 2007 and the lease of eight new commercial parking facilities in [Cancún] Terminal 3. Revenues from banking and currency exchange services rose as a result of the opening of new Banco Santander branches at Cancún, Merida and Veracruz airports.”
In 2008, passenger numbers at ASUR’s airports rose by +9.3% to 17.7 million. International traffic grew by +6.9% to 10 million, compared to a year earlier.
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