Business Context and Reporting Period
Company: Southeast Airport Group (Grupo Aeroportuario del Sureste, S.A. de C.V.)
Filing Type: Form 6-K (Current Report)
Date: May 12, 2004
Reporting Period: April 2004 (30-day period compared to April 2003)
Business Overview: ASUR operates concessions for nine airports in southeast Mexico, including Cancun, Merida, Cozumel, and Villahermosa. The company is listed on the NYSE (ASR) and the Mexican Bolsa (ASUR).
Key Financial and Operational Metrics
Operational Performance (Passenger Traffic):
Total passenger traffic for April 2004 increased by 19.1% year-over-year to 1,237,057 passengers, compared to 1,038,988 in April 2003. Transit and general aviation passengers are excluded from these figures.
| Airport | April 2003 | April 2004 | % Change |
|---|---|---|---|
| Cancun | 753,812 | 908,040 | 20.5% |
| Cozumel | 35,344 | 52,733 | 49.2% |
| Oaxaca | 35,236 | 43,806 | 24.3% |
| Huatulco | 22,189 | 25,628 | 15.5% |
| Villahermosa | 49,221 | 57,403 | 16.6% |
| Tapachula | 15,098 | 17,568 | 16.4% |
| Merida | 76,665 | 80,033 | 4.4% |
| Minatitlan | 10,290 | 10,598 | 3.0% |
| Veracruz | 41,133 | 41,248 | 0.3% |
| ASUR Total | 1,038,988 | 1,237,057 | 19.1% |
Financial Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes Versus Prior Period
- Strong Growth in Key Hubs: Cancun, the company's largest airport, saw a 20.5% increase in traffic. Cozumel experienced the highest percentage growth at 49.2%.
- Stagnation in Smaller Markets: Veracruz showed minimal growth (0.3%), while Minatitlan and Merida grew by less than 5%.
- Overall Trend: The 19.1% aggregate increase indicates robust demand across the majority of the company's portfolio compared to the prior year.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, specific management commentary on future strategy, or discussion of risks and contingencies beyond the operational data release.
Unusual Items: No unusual items were disclosed in this report.
Investor Verification Checklist
- Verify the correlation between the 19.1% increase in passenger traffic and the company's revenue growth in the upcoming quarterly or annual reports.
- Confirm the sustainability of the 49.2% growth rate in Cozumel, as high single-digit or double-digit growth in a single month may be volatile.
- Review the full Form 20-F for detailed financial statements, as this Form 6-K only reports operational traffic data.
- Assess the impact of the low growth in Veracruz (0.3%) on the overall portfolio diversification strategy.