Business Context and Reporting Period
Company: Southeast Airport Group (Grupo Aeroportuario del Sureste, S.A. de C.V.)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: February 2004 (Announced March 8, 2004; Filed March 9, 2004)
Business Overview: ASUR operates concessions for nine airports in southeast Mexico, including Cancun, Merida, and Cozumel. The company is listed on the NYSE (ASR) and the Mexican Bolsa (ASUR).
Key Financial and Operational Metrics
Operational Performance (February 2004 vs. February 2003):
- Total Passenger Traffic: 1,175,635 (up 20.2% year-over-year).
- Comparison Basis: 29-day period (Feb 1–29, 2004) vs. 28-day period (Feb 1–28, 2003).
- Exclusions: Transit and general aviation passengers are excluded from these figures.
Financial Metrics: The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on operational passenger traffic statistics.
Passenger Traffic by Airport (February 2004)
| Airport | Feb 2003 | Feb 2004 | % Change |
|---|---|---|---|
| Cancun | 707,486 | 869,213 | 22.9% |
| Cozumel | 43,342 | 55,727 | 28.6% |
| Villahermosa | 41,567 | 49,541 | 19.2% |
| Oaxaca | 36,961 | 43,783 | 18.5% |
| Merida | 63,401 | 71,022 | 12.0% |
| Huatulco | 20,707 | 21,957 | 6.0% |
| Minatitlan | 9,652 | 10,142 | 5.1% |
| Tapachula | 14,304 | 14,898 | 4.2% |
| Veracruz | 40,520 | 39,352 | (2.9%) |
Material Changes and Outlook
Material Changes: The primary material change is a significant increase in total passenger traffic of 20.2% compared to the prior year. Growth was broad-based, with eight of the nine airports reporting increases. Cozumel and Cancun showed the strongest growth rates at 28.6% and 22.9%, respectively. Veracruz was the only airport to report a decline (-2.9%).
Guidance and Risks: The filing text does not provide forward-looking guidance, management commentary on future outlook, specific risk factors, or contingencies beyond the operational data presented.
Key Facts for Investor Verification
- Revenue Impact: Verify how the 20.2% increase in passenger traffic translates to revenue growth in the upcoming quarterly financial report, considering the 29-day vs. 28-day comparison period.
- Veracruz Decline: Investigate the specific reasons for the 2.9% decline in passenger traffic at the Veracruz airport amidst overall system growth.
- Seasonality: Confirm if February traffic trends are consistent with historical seasonal patterns for the region.
- Financials: Review the next Form 20-F or 10-Q filing for actual revenue, profit, and cash flow figures, as they are absent from this 6-K.