Grupo Aeroportuario Del Pacífico Announces 2013 Guidance
Grupo Aeroportuario del Pacífico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces the Company’s expected guidance for the twelve-month 2013 period (January 1 to December 31, 2013):
- Traffic: Increase of 4.5%–5.5%
- Aeronautical Revenue: Increase of 6.0%-7.0%
- Non-Aeronautical Revenue: Increase of 10.5%-13.5%; with an increase in Commercial Revenues of 11.5%-13.0%
- Total Revenue: Increase of 7.0%-8.5%
- Cost of Services: Increase of 8.5%-9.5%
- EBITDA margin of 66.5% to 67.5%
- EBITDA: Increase of 6.0% to 8.5%
- Cash Tax: 30%
- Total CAPEX: Ps. 655 million
GAP is in the process of negotiations with certain airlines that, as of December 31, 2012, were not included in the baggage screening system service. The cost related with this service has been and will continue to be recovered through a tariff that generates revenue included in Cost of Services and Total Revenues, included in the Recovery of Expenses line item of Non-Aeronautical Revenues. In the event that the Company is not be able to reach an agreement with these airlines, the guidance related with Non-Aeronautical Revenue, Total Revenue, Cost of Services and EBITDA, could vary.
The above figures are estimates based on assumptions that management believes are reasonable and are subject to change over the course of the year based on various factors including: airline performance, domestic and international economic conditions, government regulations, and any other factors that could affect GAP’s traffic and financial results. Please refer to GAP’s Annual Report on Form 20-F for a more extensive list of factors that could affect results.
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.
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