Business Context and Reporting Period
This Form 6-K filing by Southeast Airport Group (ASUR) covers the month of August 2004, specifically reporting operational results for July 2004. ASUR is a Mexican airport operator managing concessions for nine airports in southeastern Mexico, including Cancún, Mérida, 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 July 2004 reached 1,413,479, representing a 16.0% increase compared to 1,218,710 passengers in July 2003. Transit and general aviation passengers are excluded from these figures.
| Airport | July 2003 | July 2004 | % Change |
|---|---|---|---|
| Cancún | 879,778 | 1,018,700 | 15.8% |
| Cozumel | 59,192 | 73,457 | 24.1% |
| Huatulco | 27,117 | 32,596 | 20.2% |
| Mérida | 86,822 | 93,605 | 7.8% |
| Minatitlán | 11,188 | 10,173 | -9.1% |
| Oaxaca | 40,355 | 49,965 | 23.8% |
| Tapachula | 16,354 | 17,639 | 7.9% |
| Veracruz | 46,057 | 54,302 | 17.9% |
| Villahermosa | 51,847 | 63,042 | 21.6% |
| ASUR Total | 1,218,710 | 1,413,479 | 16.0% |
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes Versus Prior Period
Eight of the nine airports reported year-over-year growth in passenger traffic. The most significant growth occurred at Cozumel (24.1%), Oaxaca (23.8%), and Villahermosa (21.6%). Minatitlán was the only airport to report a decline, with traffic dropping 9.1% to 10,173 passengers.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, specific risk factors, or contingencies. No unusual items were disclosed in this report.
Key Facts for Investor Verification
- Verify the correlation between the 16.0% increase in passenger traffic and the company's revenue growth in the subsequent quarterly financial report.
- Investigate the specific causes for the 9.1% decline in traffic at Minatitlán compared to the growth seen at other locations.
- Confirm the impact of the strong performance at Cancún (the largest volume driver) on overall operating leverage.
- Review the full Form 20-F for detailed financial metrics, as this 6-K only contains operational traffic data.