- Total revenues in 1Q12 increased 0.3% (Ps. 3.4 million) (the sum of aeronautical and non-aeronautical revenues increased 12.3%, or Ps. 119.3 million), which is higher than the guidance issued by the Company in January 2012. Aeronautical revenues increased 10.2% (Ps. 78.8 million) and non-aeronautical revenues rose 20.7% (Ps. 40.5 million) (non-aeronautical revenues include revenues from checked baggage inspection systems). These increases were offset by a decline in improvements to concession assets (IFRIC 12) of Ps. 115.9 million.
- In 1Q12, cost of services increased 16.3% (Ps. 37.7 million), mainly as a result of a Ps. 37.3 million increase in the cost of electricity, security (including costs for services related to the checked baggage inspection systems), insurance, personnel and other operating costs.
- In 1Q12, government concession taxes increased 12.1% (Ps. 5.8 million). The technical assistance fee increased 20.5% (Ps. 6.4 million).
- Operating income increased 9.6% (Ps. 46.2 million).
- EBITDA increased 11.0% (Ps. 71.9 million), from Ps. 652.7 million in 1Q11 to Ps. 724.6 million in 1Q12. EBITDA margin increased from 52.5% in 1Q11 to 58.1% in 1Q12 (excluding the effects of IFRIC 12, the EBITDA margin declined slightly from 67.5% in 1Q11 to 66.7% in 1Q12, although higher than the guidance issued by the Company in January 2012).
- Net income and comprehensive income declined 1.8% (Ps. 7.7 million).
In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a fourth party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.Follow us on Twitter : http://twitter.com/aeropuertosGAP For the full version of this report please visit www.aeropuertosgap.com.mx