Business Context and Reporting Period
This Form 6-K filing by Southeast Airport Group (ASUR) covers the month of December 2004, specifically reporting operational data for November 2004. 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 November 2004 reached 1,066,083, an increase of 8.2% compared to 985,036 in November 2003. Transit and general aviation passengers are excluded from these figures.
| Airport | Nov 2003 | Nov 2004 | % Change |
|---|---|---|---|
| Cancun | 683,194 | 744,912 | 9.0% |
| Cozumel | 27,200 | 36,805 | 35.3% |
| Veracruz | 44,539 | 51,803 | 16.3% |
| Oaxaca | 45,639 | 49,206 | 7.8% |
| Villahermosa | 56,605 | 58,259 | 2.9% |
| Huatulco | 18,811 | 18,894 | 0.4% |
| Tapachula | 15,327 | 15,215 | -0.7% |
| Merida | 82,343 | 80,032 | -2.8% |
| Minatitlan | 11,378 | 10,957 | -3.7% |
| ASUR Total | 985,036 | 1,066,083 | 8.2% |
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Positive Growth: Cozumel saw the highest growth at 35.3%, followed by Veracruz at 16.3% and Cancun at 9.0%.
- Declines: Merida (-2.8%) and Minatitlan (-3.7%) experienced decreases in passenger traffic compared to the prior year.
- Stability: Huatulco and Tapachula remained relatively flat with changes under 1%.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, specific risk factors, or contingencies. It is a routine operational update regarding passenger volume.
Investor Verification Checklist
- Verify the correlation between the 8.2% increase in passenger traffic and the company's quarterly revenue performance in the subsequent 10-Q or 20-F filing.
- Investigate the specific drivers behind the 35.3% surge in Cozumel traffic versus the decline in Merida.
- Confirm if the exclusion of transit and general aviation passengers impacts the comparability of these figures with other industry peers.