Grupo Aeroportuario del Pacifico Announces Results for the Third Quarter of 2023

GUADALAJARA, Mexico, Oct. 23, 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 third quarter ended September 30, 2023 (3Q23). 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 3Q23 vs. 3Q22

• The sum of aeronautical and non-aeronautical services revenues increased by Ps. 549.4 million, or 9.5%. Total revenues increased by Ps. 640.9 million, or 9.4%.
  

• Cost of services increased by Ps. 202.3 million, or 20.6%.
  

• Income from operations increased by Ps. 152.7 million, or 4.4%.
  

• EBITDA increased by Ps. 184.8 million, or 4.5%, an increase from Ps. 4,085.0 million in 3Q22 to Ps. 4,269.9 million in 3Q23. EBITDA margin (excluding the effects of IFRIC-12) went from 70.7% in 3Q22 to 67.5% in 3Q23.
  

• Comprehensive income decreased by Ps. 105.3 million, or 4.0%, from Ps. 2,656.7 million in 3Q22 to Ps. 2,551.4 million in 3Q23.

Company’s Financial Position:
3Q23 results were positive compared to 3Q22, with an increase in aeronautical and non-aeronautical revenues, despite the 15.7% appreciation of the peso versus the U.S. dollar in the quarter, generating positive net cash flow from operating activities, which amounted to Ps. 4,115.9 million. The Company reported a financial position of cash and cash equivalents as of September 30, 2023, of Ps. 14,454.1 million. During 3Q23, the Company drawdown two credit lines for a combined total amount of US$70.0 million. The proceeds from these credit lines were used to acquire 100% of the shares of a real estate company within the Tijuana airport for USD$35.4 million and USD$30.0 million will be used for investment commitments in the MBJ airport.

Passenger Traffic

During 3Q23, total passengers at the Company’s 14 airports increased by 1,583.4 thousand passengers, an increase of 10.8%, compared to 3Q22.

During 3Q23, the following new routes were opened:

Domestic:

Domestic Terminal Passengers – 14 airports (in thousands):

International Terminal Passengers – 14 airports (in thousands):