- The sum of aeronautical and non-aeronautical revenues increased Ps. 128.5 million (13.8%). Total revenues, which include revenues from improvements to concession assets (IFRIC 12), increased Ps. 12.6 million (1.0%). Aeronautical revenues rose Ps. 81.1 million (11.0%) and non-aeronautical revenues increased Ps. 47.4 million (24.1%), (non-aeronautical revenues include revenues from checked baggage inspection systems). These increases exceeded the Company’s guidance issued January 2012, which did not include projections for revenues from improvements to concession assets (IFRIC 12) due to this is an accounting figure that does not affect the Company’s cash flow, neither revenues for checked baggage inspection services. These increases were offset by a decline in revenues from improvements to concession assets (IFRIC 12) of Ps. 115.9 million.
- In 2Q12, cost of services decreased Ps. 8.7 million (3.4%), mainly as a result of a Ps. 13.5 million decline in other operating costs, which was partially offset by an increase in security and electricity costs.
- In 2Q12, government concession taxes increased Ps. 6.2 million (13.4%). The technical assistance fee increased Ps. 6.4 million (20.0%).
- Operating income increased Ps. 107.8 million (25.7%).
- EBITDA increased Ps. 124.5 million (20.7%), from Ps. 601.8 million in 2Q11 to Ps. 726.3 million in 2Q12. EBITDA margin increased from 49.7% in 2Q11 to 59.4% in 2Q12 (excluding the effects of IFRIC 12, the EBITDA margin rose from 64.4% in 2Q11 to 68.3% in 2Q12).
- Net income and comprehensive income increased Ps. 132.6 million (60.8%).
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