The following is a summary of the Grupo Aeroportuario Del Sureste, S. A. B. De C. V. (ASR) Q2 2024 Earnings Call Transcript:

Financial Performance:

• ASUR reported a revenue increase of nearly 18% to MXN7 billion in Q2 2024, with Colombia, Mexico, and Puerto Rico driving the top-line growth.

• Net majority income increased by 50% year-on-year to MXN3.7 billion, also benefiting from a foreign exchange gain of nearly MXN950 million due to the peso depreciation.

• EBITDA increased by 18% to MXN5 billion, with adjusted EBITDA margin remaining stable at 69%.

Business Progress:

• ASUR experienced a 3% increase in passenger traffic, reaching 18 million passengers, a record high for the second quarter.

• Key projects include expansion of Cancun Airport's Terminal 4 and the reconstruction and expansion of Terminal 1, and expansion at Riohacha Airport.

• Implementation of various sustainability initiatives, including compliance with ESG reporting and partnership renewals affecting local communities and environmental efforts.

• Opened 45 new commercial spaces, contributing to a 7% increase in commercial revenues, with notable growth in Colombia.

Opportunities:

• Continued recovery and growth in passenger traffic, especially in Colombia, driven by increased domestic and international segments, and expected normalization in Puerto Rico post-Frontier Airlines operations ramp-up.

Risks:

• Challenges include the impact of Pratt & Whitney engine issues and capacity reductions at Mexico City Airport, which are expected to negatively affect domestic traffic.

• Potential negative traffic impacts from U.S. election rhetoric criticizing Mexico, which could influence U.S. international bond traffic.

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