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GAP revenue up 23%, EBITDA jump 35% in 2Q2010

27-Jul-2010 12:36 PM

Mexico’s Grupo Aeroportuario del Pacífico (GAP) revenue up 23% - financial/traffic highlights:

  • Three months ended 30-Jun-2010:
    • Revenue*: USD72.4 million, +23.1% year-on-year;
      • Aeronautical: USD57.5 million, +28.2%;
      • Non-aeronautical: USD14.9 million, +6.8%;
    • Cost of services: USD18.4 million, -0.8%;
    • EBITDA: USD47.8 million, +35.0%;
    • Net profit: USD13.7 million, +18.1%;
    • Passenger numbers: 5.0 million, +14.6%;
  • Six months ended 30-Jun-2010:
    • Revenue: USD146.4 million, +13.7%;
      • Aeronautical: USD116.9 million, +17.7%;
      • Non-aeronautical: USD29.5 million, stable;
    • Cost of services: USD36.3 million, +2.5%;
    • EBITDA: USD97.7 million, +18.2%;
    • Net profit: USD57.3 million, +31.9%;
    • Passenger numbers: 10.3 million, +6.2%;
    • Cash and cash equivalents: USD221.8 million;
    • Capital expenditure: USD34.4 million. [more]

*Based on the conversion rate at USD1 = MXN12.7551

GAP: “The company’s operating margin for the second quarter of 2010 increased 800 basis points, from 32.8% in the second quarter of 2009, to 40.8% in the second quarter of 2010.  EBITDA margin increased 590 basis points, from 60.2% during the second quarter of 2009 to 66.1% in the second quarter of 2010,” Company statement. Source: GAP, 26-Jul-2010.