GUADALAJARA, Mexico, July 24, 2023 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (: PAC; BMV: GAP) (“the Company” or “GAP”) reports its consolidated results for the second quarter ended June 30, 2023 (2Q23). Figures are unaudited and prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).
Summary of Results 2Q23 vs. 2Q22
- The sum of aeronautical and non-aeronautical services revenues increased by Ps. 855.6 million, or 15.2%. Total revenues increased by Ps. 1,749.6 million, or 26.5%.
- Cost of services increased by Ps. 134.1 million, or 14.9%.
- Income from operations increased by Ps. 437.0 million, or 12.4%.
- EBITDA increased by Ps. 495.1 million, or 12.1%, an increase from Ps. 4,081.7 million in 2Q22 to Ps. 4,576.8 million in 2Q23. EBITDA margin (excluding the effects of IFRIC-12) went from 72.4% in 2Q22 to 70.4% in 2Q23.
- Comprehensive income decreased by Ps. 197.1 million, or 8.8%, from an income of Ps. 2,249.2 million in 2Q22 to an income of Ps. 2,052.0 million in 2Q23.
Company’s Financial Position:
2Q23 results were positive compared to 2Q22, with an increase in aeronautical and non-aeronautical revenues, despite the 11.6% appreciation of the peso versus the U.S. dollar in the quarter, generating positive net cash flow from operating activities, which amounted to Ps. 2,516.1 million. The Company reported a financial position of cash and cash equivalents as of June 30, 2023, of Ps. 14,920.9 million. During 2Q23, the Company paid the first installment of the dividend approved at the Annual General Shareholders' Meeting held on April 13, 2023 for Ps. 1,874.6 million. It also made the payment of the bond certificate "GAP 20-2" for Ps. 602.0 million.
Passenger Traffic
During 2Q23, total passengers at the Company’s 14 airports increased by 1,792.4 thousand passengers, an increase of 12.7%, compared to 2Q22.
During 2Q23, the following new routes were opened:
| Domestic: | ||||
| Airline | Departure | Arrival | Opening date | Frequencies |
| Viva Aerobus | Los Cabos | Toluca | May 18,2023 | 1 daily |
| Volaris | Guadalajara | Puerto Vallarta | June 01, 2023 | 1 daily |
| Volaris | Puerto Vallarta | Guadalajara | June 01, 2023 | 1 daily |
| Viva Aerobus | Mexicali | Monterrey | June 01, 2023 | 1 daily |
| Note: Frequencies can vary without prior notice. | ||||
| International | ||||
| Airline | Departure | Arrival | Opening date | Frequencies |
| Spirit | Los Cabos | Dallas Fort-Worth | May 5, 2023 | 3 weekly |
| Spirit | Los Cabos | Houston | May 7, 2023 | 3 weekly |
| Frontier | Montego Bay | Dallas Fort-Worth | May 22, 2023 | 3 weekly |
| JetBlue | Puerto Vallarta | Los Angeles | June 27, 2023 | 1 daily |
| Note: Frequencies can vary without prior notice. | ||||
| Domestic Terminal Passengers – 14 airports (in thousands): | |||||||||
| Airport | 2Q22 | 2Q23 | Change | 6M22 | 6M23 | Change | |||
| Guadalajara | 2,673.7 | 3,174.4 | 18.7 | % | 5,034.1 | 6,133.2 | 21.8 | % | |
| Tijuana * | 2,001.0 | 2,236.9 | 11.8 | % | 3,821.9 | 4,303.3 | 12.6 | % | |
| Los Cabos | 631.5 | 741.1 | 17.3 | % | 1,144.4 | 1,411.7 | 23.4 | % | |
| Puerto Vallarta | 691.9 | 758.0 | 9.6 | % | 1,190.7 | 1,397.6 | 17.4 | % | |
| Montego Bay | 0.0 | 0.0 | 0.0 | % | 0.0 | 0.0 | 0.0 | % | |
| Guanajuato | 426.9 | 559.3 | 31.0 | % | 809.2 | 1,066.6 | 31.8 | % | |
| Hermosillo | 481.3 | 521.6 | 8.4 | % | 864.5 | 995.6 | 15.2 | % | |
| Kingston | 0.3 | 0.4 | 38.5 | % | 0.5 | 0.6 | 27.4 | % | |
| Mexicali | 300.7 | 380.6 | 26.6 | % | 590.8 | 727.2 | 23.1 | % | |
| Morelia | 165.9 | 201.2 | 21.3 | % | 313.5 | 388.0 | 23.8 | % | |
| La Paz | 274.5 | 284.0 | 3.5 | % | 512.7 | 510.6 | (0.4 | %) | |
| Aguascalientes | 195.6 | 156.4 | (20.0 | %) | 353.5 | 307.0 | (13.2 | %) | |
| Los Mochis | 107.9 | 118.8 | 10.0 | % | 204.0 | 213.1 | 4.4 | % | |
| Manzanillo | 24.5 | 25.7 | 4.9 | % | 48.5 | 52.8 | 8.8 | % | |
| Total | 7,975.7 | 9,158.3 | 14.8 | % | 14,888.3 | 17,507.3 | 17.6 | % | |
| *Cross Border Xpress (CBX) users are classified as international passengers. | |||||||||
| International Terminal Passengers – 14 airports (in thousands): | |||||||||
| Airport | 2Q22 | 2Q23 | Change | 6M22 | 6M23 | Change | |||
| Guadalajara | 1,097.7 | 1,290.6 | 17.6 | % | 2,067.6 | 2,506.7 | 21.2 | % | |
| Tijuana * | 1,026.6 | 1,113.0 | 8.4 | % | 1,949.8 | 2,160.6 | 10.8 | % | |
| Los Cabos | 1,184.6 | 1,222.3 | 3.2 | % | 2,309.4 | 2,603.5 | 12.7 | % | |
| Puerto Vallarta | 873.8 | 886.7 | 1.5 | % | 1,934.8 | 2,264.8 | 17.1 | % | |
| Montego Bay | 1,160.9 | 1,305.9 | 12.5 | % | 2,089.0 | 2,656.8 | 27.2 | % | |
| Guanajuato | 181.7 | 210.7 | 16.0 | % | 357.2 | 418.1 | 17.1 | % | |
| Hermosillo | 19.9 | 17.6 | (11.1 | %) | 38.5 | 36.7 | (4.5 | %) | |
| Kingston | 362.3 | 435.4 | 20.2 | % | 630.6 | 829.5 | 31.5 | % | |
| Mexicali | 1.7 | 2.0 | 15.0 | % | 2.9 | 3.5 | 20.7 | % | |
| Morelia | 117.2 | 143.3 | 22.3 | % | 233.5 | 294.9 | 26.3 | % | |
| La Paz | 6.3 | 4.0 | (36.1 | %) | 13.8 | 7.7 | (44.0 | %) | |
| Aguascalientes | 57.9 | 72.6 | 25.5 | % | 105.0 | 132.8 | 26.5 | % | |
| Los Mochis | 2.0 | 1.7 | (12.0 | %) | 3.7 | 3.5 | (5.8 | %) | |
| Manzanillo | 15.5 | 11.9 | (23.6 | %) | 41.2 | 42.7 | 3.6 | % | |
| Total | 6,108.1 | 6,717.8 | 10.0 | % | 11,777.0 | 13,961.9 | 18.6 | % | |
| *CBX users are classified as international passengers. | |||||||||
| Total Terminal Passengers – 14 airports (in thousands): | |||||||||
| Airport | 2Q22 | 2Q23 | Change | 6M22 | 6M23 | Change | |||
| Guadalajara | 3,771.4 | 4,465.0 | 18.4 | % | 7,101.7 | 8,639.9 | 21.7 | % | |
| Tijuana * | 3,027.6 | 3,349.9 | 10.6 | % | 5,771.7 | 6,463.9 | |||
