Grupo Aeroportuario del Pacifico Announces Outlook for Full Year 2017
July 19 2017 - 4:37PM
Business Wire
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE:PAC)
(BMV:GAP) (“the Company” or “GAP”) announces its guidance for the
period of January 1 to December 31, 2017.
Traffic 11% +-
1% Aeronautical Revenue 17% +- 1%
Non-Aeronautical Revenue 17% +- 1% Total
Revenue 17% +- 1% EBITDA 16% +- 1%
EBITDA Margin 69% +- 1% CAPEX
Ps. 2.5 billion
- Passenger traffic estimates are based
on the consolidation of the routes developed to date, the increase
of occupancy load factors, and airlines’ flight frequencies and
seat availability.
- The revenue increase is based on
traffic performance, applicable passenger fees, contract terms and
current commercial agreements, as well as the development of other
activities.
- The increase in cost of services
reflects operating requirements needed to meet higher airport
service demand, infrastructure expansion and service quality
improvements, and the hiring of additional personnel for the
operations, maintenance, security and cleaning departments.
- CAPEX reflects committed investments
for GAP airports in Mexico under the Master Development Programs
and the Montego Bay airport in Jamaica under the Capital
Development Program.
For more information please visit
www.aeropuertosgap.com.mx
These figures are based on the Company’s current expectation of
domestic and international aeronautical industry growth during
2017, as supported by GAP’s strategy of focusing on medium- and
long-term business fundamentals.
These figures are estimates based on current assumptions that
management believes are reasonable. Many of the factors affecting
these current assumptions and the estimates on which they are based
are outside of the Company’s control and are subject to change over
the course of the year based on various external factors including,
but not limited to, airline performance, domestic and international
economic conditions and government regulations. Please refer to
GAP’s annual report on Form 20-F for the year ended December 31,
2016, published in 2017, for a more extensive list of factors that
could affect traffic, revenues and expenses.
* * *
Note: EBITDA (earnings before interest expense, income taxes,
depreciation and amortization) is not a standardized measure of
performance or financial condition under the accounting principles
contained in International Financial Reporting Standards (“IFRS”).
This measure is not comparable to measures used by other
entities.
Company Description:
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates
12 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 other
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”. In April
2015 GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias,
S.L., which owns a majority stake of MBJ Airports Limited, a
company operating the Sangster International Airport in Montego
Bay, Jamaica.
This press release may contain forward-looking statements. These
statements 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 conditions, 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 01-800-563-0047. The web
site is http://www.lineadedenuncia.com/gap. GAP’s Audit Committee
will be notified of all complaints for immediate investigation.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170719006329/en/
In MexicoGrupo Aeroportuario del Pacífico, S.A.B. de
C.V.Saúl Villarreal García, Chief Financial OfficerPaulina
Sánchez, Investor RelationsTel: 52 (33) 38801100 ext
20151svillarreal@aeropuertosgap.com.mxpsanchez@aeropuertosgap.com.mxorIn the
U.S.i-advize Corporate CommunicationsMaria BaronaTel:
212 406 3691 / 94gap@i-advize.com
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