This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Grupo Aeroportuario Del Sureste Management Discusses Q3 2011 Results - Earnings Call Transcript

At Cancún however, domestic traffic has reached a new historical peak despite the Mexicana effect. International traffic was, in our opinion, very strong this quarter particularly during the month of September which was the high and events of passenger traffic process. The share of international passenger traffic fell to 51.2% of the total traffic from 52.9% in the third quarter 2010.

Passenger traffic between Mexico, Canada and the United States represented 80% – 87% of the total traffic compared with 87 process since a year ago. Looking ahead, we continue to see capacity constraints on domestic market particularly at the small airports until the end of the year 2012. Even in Mexicana and Aviacsa reinstate operations this year.

On international front, considering the cold uncertainties and the economic turmoil, the third quarter was a quite mood and even difficult to predict whether this will continue. Consolidated revenues rose 9.8% this quarter driven by revenue growth across the board. Excluding construction services, total revenue would have increased 13%. Commercial revenues per passenger were up to Ps64.4, the third highest ever – profit ever.

Operating cost and expenses fell 15.2% year-on-year, mainly due to the cost of services. Remember that that as a result of the bankruptcy of Mexicana in the third quarter 2010, we have created our reserve, we adopted accounts which did not impact this quarter results. As a result, EBITDA rose 44.9% this quarter with EBITDA margin up to 56.1% from the 42.5% achieved in the second quarter 2010. In terms of CapEx, this quarter we invested Ps.144.6 million as we continue with the terminal expansions in the Veracruz, Villahermorsa, Merida and Oaxaca airports regarding the first quarter 2010.

Finally, we closed this quarter with a strong balance sheet with cash and cash equivalents up to 13.2% to Ps. 1.7 billion while the bank debt was Ps. 788.5 million.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs