Business Context and Reporting Period
This Form 6-K filing by Southeast Airport Group (ASUR) covers the month of March 2005, specifically reporting operational data for February 2005. ASUR is a Mexican airport operator managing concessions for nine airports in southeastern Mexico, including Cancun, Merida, and Cozumel. The company is listed on the NYSE (ASR) and the Mexican Bolsa (ASUR).
Key Financial and Operational Metrics
The filing provides operational traffic data rather than financial statements. Total passenger traffic for February 2005 reached 1,249,925, representing a 6.3% increase compared to 1,175,635 passengers in February 2004. The filing explicitly excludes transit and general aviation passengers. The text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Passenger Traffic by Airport (February 2005 vs. 2004)
| Airport | Feb 2004 | Feb 2005 | % Change |
|---|---|---|---|
| Cancun | 869,213 | 916,411 | 5.4% |
| Cozumel | 55,727 | 60,834 | 9.2% |
| Huatulco | 21,957 | 27,703 | 26.2% |
| Merida | 71,022 | 73,683 | 3.7% |
| Minatitlan | 10,142 | 9,443 | -6.9% |
| Oaxaca | 43,783 | 47,030 | 7.4% |
| Tapachula | 14,898 | 15,037 | 0.9% |
| Veracruz | 39,352 | 45,999 | 16.9% |
| Villahermosa | 49,541 | 53,785 | 8.6% |
| ASUR Total | 1,175,635 | 1,249,925 | 6.3% |
Material Changes and Comparisons
While total traffic grew by 6.3%, the filing notes a calendar discrepancy: February 2005 had 28 days compared to 29 days in February 2004. Performance varied significantly by location:
- Huatulco showed the strongest growth at 26.2%.
- Veracruz increased by 16.9%.
- Minatitlan was the only airport to report a decline, dropping 6.9%.
- Cancun, the largest volume contributor, grew by 5.4%.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future strategy, or specific risk factors beyond the operational data. No unusual items or contingencies were disclosed in this report.
Key Facts for Investor Verification
- Verify the impact of the 29-day vs. 28-day calendar difference on the reported 6.3% year-over-year growth.
- Confirm the financial impact of the traffic decline at Minatitlan (-6.9%) versus the surge at Huatulco (+26.2%).
- Check subsequent filings for revenue recognition related to the February 2005 traffic increase.
- Note that the reported figures exclude transit and general aviation passengers, which may affect total throughput analysis.