- The sum of aeronautical and non-aeronautical revenues increased Ps. 147.4 million (15.5%). Aeronautical revenues rose Ps. 82.9 million (11.0%) and non-aeronautical revenues increased Ps. 64.5 million (32.6%), (non-aeronautical revenues include revenues from checked baggage inspection services). These increases exceeded the Company’s guidance issued in January 2012, which did not include projections for revenues from improvements to concession assets (IFRIC 12) due to the fact that this is an accounting figure that does not affect the Company’s cash flow, nor revenues for checked baggage inspection services. Total revenues, that include improvements to concession assets (IFRIC 12), increased Ps. 31.4 million (2.6%) due to the combined increase of aeronautical and non-aeronautical revenues, offset by a Ps. 115.9 million decline in revenues from improvements to concession assets (IFRIC 12).
- Cost of services declined Ps. 17.8 million (6.9%), mainly as a result of a Ps. 24.7 million decrease in other operating costs, as well as a Ps. 2.7 million decline in maintenance costs, which were offset by a Ps. 5.9 million increase in security services and insurance costs, and a Ps. 3.7 million increase in employee costs.
- Government concession taxes increased Ps. 7.3 million (15.3%). The technical assistance fee increased Ps. 7.7 million (23.8%).
- Operating income increased Ps. 111.2 million (25.6%).
- EBITDA increased Ps. 150.2 million (24.5%), from Ps. 614.2 million in 3Q11 to Ps. 764.4 million in 3Q12. EBITDA margin increased from 50.0% in 3Q11 to 60.6% in 3Q12 (excluding the effects of IFRIC 12, the EBITDA margin rose from 64.5% in 3Q11 to 69.5% in 3Q12).
- Net income and comprehensive income increased Ps. 98.2 million (26.5%).
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.