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Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Announces Results for the Fourth Quarter 2011

Dépèche transmise le 27 février 2012 par Business Wire

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Announces Results for the Fourth Quarter 2011

GUADALAJARA, Mexico--(BUSINESS WIRE)--Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) today reported its results for the fourth quarter ended December 31, 2011. Figures are unaudited and have been prepared in accordance with Mexican Financial Reporting Standards (“NIF”). All amounts are presented in nominal pesos.

Summary of Fourth Quarter 2011 vs. Fourth Quarter 2010:

• Total revenues in 4Q11 increased 11.8% (Ps. 132.5 million), principally due to a 12.9%, or Ps. 93.4 million, increase in aeronautical revenues. Non-aeronautical revenues increased 22.3%, or Ps. 42.7 million. The sum of aeronautical and non-aeronautical revenues increased 14.9% (Ps. 136.1 million).
• In 4Q11, cost of services increased 1.0% (Ps. 2.4 million), mainly as a result of a 14.0%, or Ps. 19.3 million, increase in costs of utilities (electricity, telephone, fuel, etc.) security, insurance and personnel, which was partially offset by a decrease of 15.5%, or Ps. 16.9 million, in maintenance and other operating costs.
• In 4Q11, the government concession taxes increased 13.9% (Ps. 6.3 million). The technical assistance fee increased 20.5% (Ps. 6.4 million), mainly as a result of the increase in both aeronautical and non-aeronautical services.
• Operating income increased 21.8% (Ps. 81.0 million).
• EBITDA increased 20.5% (Ps. 121.1 million), from Ps. 590.0 million in 4Q10 to Ps. 711.0 million in 4Q11. EBITDA margin increased from 52.5% in 4Q10 to 56.6% in 4Q11 (excluding the effects of INIF 17, EBITDA margin rose from 64.6% in 4Q10 to 67.7% in 4Q11, an increase of 310 basis points).
• Net income rose 24.3% (Ps. 108.3 million).

For the full version of this report please visit www.aeropuertosgap.com.mx

For more information please visit www.aeropuertosgap.com.mx

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Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates twelve airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”.

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.