Grupo Aeroportuario del Pacifico Announces Guidance for Full Year 2019
January 09 2019 - 8:32PM
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV:
GAP) (“the Company” or “GAP”) announced today its guidance for full
year 2019.
Traffic |
7% +- 1% |
Aeronautical
Revenue |
13% +- 1% |
Non-aeronautical Revenue |
20% +- 1% |
Total
Revenue |
15% +- 1% |
EBITDA |
14% +- 1% |
EBITDA
Margin |
69% +- 1% |
CAPEX |
Ps. 2.2 billion |
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- Passenger traffic projections are
based on the consolidation of routes developed to date. Estimates
for load factors, projections for increases in frequencies and
number of seats offered by the airlines could change throughout the
year.
- Revenue increases are based on
traffic performance, applicable fees, inflation, and current
commercial agreements, as well as the development of other
activities.
- CAPEX for GAP’s airports in Mexico
will reach approximately Ps. 1.9 billion, of which: i) Ps. 300
million correspond to 2018 investments that will be executed in
2019, ii) Ps. 450 million in investments of the Master Development
Program, iii) Ps. 550 million will be allocated to Tijuana for the
Processing Terminal, which will be recognized in the MDP for the
2020-2024 five-year period, and iv) Ps. 600 million will be
allocated to commercial investments. The Investments at the Montego
Bay airport in Jamaica under the Capital Development Program will
reach roughly Ps. 300 million.
These figures do not include the integration of
the Kingston Airport in Jamaica, since the date on which the
Company expects to take control of this asset could vary, could
come early or could extend towards the end of 2019.
These figures are estimates based on
expectations that GAP’s management considers to be reasonable. Many
of the factors that affect these expectations and estimates are out
of the Company’s control and are subject to changes throughout the
year based on various external factors including, but not limited
to, airline activity, domestic and international economic
conditions as well as government regulations. Please refer to the
Company’s Annual Report and 20F Filing ending December 31, 2017,
published in 2018, for a more detailed list of factors that could
affect traffic performance, 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.
IR Contacts: Saúl Villarreal, Chief Financial and
Administrative OfficerAlejandra Soto, Financial Planning and IR
ManagerMaria Barona, i-advize Corporate Communications |
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svillarreal@aeropuertosgap.com.mxasoto@aeropuertosgap.com.mx
mbarona@i-advize.com |
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