ASUR reports growth in aeronautical and non-aeronautical revenue in 2Q2019

Grupo Aeroportuario del Sureste de Mexico (ASUR) reported (22-Jul-2019) a 4.7% year-on-year increase in consolidated revenues in 2Q2019 attributed to the following:

• Aeronautical revenues increased 7.3%;
• Non-aeronautical revenues increased by 7.2%, mainly due to a 6.9% increase in commercial revenues. Growth in commercial revenues mainly reflected a 6.9% increase in total passenger traffic;
  • Mexico increased 4.5% mainly driven by the opening of new commercial spaces, including duty free, retail, food and beverages and car rentals;
  • Puerto Rico increased by 10.6%;
  • Colombia increased by 20.9%;
  • Commercial revenue per passenger declined 0.1% in Mexico and increased 4.2% in Puerto Rico and 5.2% in Colombia, but remained "practically" unchanged at MXN99.7 (USD5.22);
    • Mexico commercial revenue per passenger was MXN115.4 (USD6.05);
    • Puerto Rico commercial revenue per passenger was MXN114.4 (USD6);
    • Colombia commercial revenue per passenger was MXN40.6 (USD2.13);
• Consolidated revenues were partially offset by a 41.4% decline in revenues from construction services, mainly due to a decrease in construction revenues in Colombia and Puerto Rico, as a result of lower capex and other investments in concessionned assets during the period. Excluding revenues from construction services, consolidated revenues would have increased 7.3%. Mexico contributed with 69.4% of total revenues excluding revenues from construction services, while Puerto Rico represented 18.7% and Colombia contributed 11.9%. [more - original PR]