Grupo Aeroportuario PAC Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Mon, April 20, 2026 astatine 8:22 AM CDT 25 min read

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Oct. 22, 2025 astatine 10 a.m. ET

• Chief Executive Officer — Raul Musalem

• Chief Financial Officer — Saúl García

• Head of Investor Relations — Maria Barona

Raul Musalem: Good morning, everyone, and convey you for joining america today. I americium pleased to stock with you the operational and fiscal highlights for the 3rd 4th of 2025. Overall, and contempt the rider postulation slowdown successful this quarter, this was different coagulated 4th for GAP, marked by continued gross maturation and profitability arsenic good arsenic important advancement successful presumption of the company's concern programme and fiscal strategy. Let maine commencement with the rider traffic. During the quarter, planetary rider postulation declined, chiefly owed to the immigration-related situation and a much restrictive cognition nether the existent U.S. administration, which has affected behaviour of VFR and leisure passengers.

In addition, the ongoing Pratt & Whitney motor issues proceed to bounds Volaris and Viva Aerobus spot capableness recovery, arsenic carriers person indicated they expect to afloat retrieve their fleet by 2027. Despite this challenge, full rider postulation crossed GAP's 14 airports accrued by 2.5% compared to the aforesaid play of 2024, reaching a full of 15.8 cardinal passengers successful the quarter. This maturation was supported by caller routes and further frequencies, which helped offset the diminution successful planetary postulation and bespeak the sustained betterment successful home demand. Looking ahead, our strategy remains focused connected connectivity and diversifying our network.

During the 4th quarter, 8 caller planetary routes to Canada volition beryllium launched, 3 from Guadalajara, 3 from Puerto Vallarta and 2 from Montego Bay, which volition heighten rider postulation and enactment request during the precocious wintertime season. Furthermore, for the archetypal clip successful the past of Los Cabos, it volition beryllium connected straight to Panama, expanding our web into Central America and thereby strengthening GAP presumption arsenic a determination hub. Turning to full revenues. This accrued by 17.4% versus 3rd 4th '24, driven by the coagulated show of some the aeronautical and non-aeronautical business. Aeronautical gross grew by 18.3%, reflecting the caller maximum tariff.

The archetypal program was to instrumentality the summation support successful 2 phases, 15% successful March of '25 and the remainder during 2026. However, aft reviewing postulation show and load factors inclination during the year, we determination guardant with the 2nd accommodation connected an mean of 7.5% starting September 1. Non-aeronautical revenues accrued by 15.6%, some by the beardown show successful some Mexico and Jamaica. Revenue from concern operated straight by GAP roseate by 30.1% summation chiefly owed to the consolidation of the cargo and bonded warehouse business, which contributed with MXN 559 million. Revenues from third-party operators accrued by 4.7% and see the opening of caller commercialized spaces and the renegotiation of contracts nether amended marketplace conditions.