ASUR Q1 Profit, Passenger Traffic Increase - Quick Facts

(RTTNews) - Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASR) or ASUR said that its first-quarter of 2014 net income increased by 30.37% to Ps.634.38 million from Ps.486.61 million in the prior year quarter. Earnings per ADS was $1.6198, compared with $1.2425 in the same quarter last year.

This increase resulted principally from the Ps.10.55 million gain in the first-quarter of 2014 corresponding to the company's equity participation in Aerostar, the company's joint venture to operate SJU Airport, compared to the Ps.122.05 million loss reported in the first-quarter of 2013, as well as the 0.63% increase in ASUR's revenuesandthe 2.71% reduction in expenses during the first quarter of 2014.

Total revenues for the quarter increased year-over-year by 0.63% to Ps.1.383 billion. This was mainly due to increases of 3.04% in revenues from aeronautical services, mainly as a result of the 6.16% increase in passenger traffic; 11.32% in revenues from non-aeronautical services, principally reflecting the 11.44% increase in commercial revenues.

These increases were partially offset by the 76.65% decline in revenues from construction services that resulted from lower capital expenditures and other investments in concessioned assets during the period.

For the first quarter of 2014, total passenger traffic increased year-over-year by 6.16%. Domestic passenger traffic rose by 4.85% while international passenger traffic increased by 6.90%.

The 4.85% growth in domestic passenger traffic was driven by increases at Minatitlan, Merida,Villahermosa, Cancun, Veracruz, Tapachula and Oaxaca. The 6.90% growth in international passenger traffic resulted mainly from an increase of 6.54% in international traffic at the Cancun airport.