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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Grupo Aeroportuario del Pacífico, S.A.B. de C.V.    GAP B   MX01GA000004

GRUPO AEROPORTUARIO DEL PACÍFICO, S.A.B.

(GAP B)
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Grupo Aeroportuario del Pacífico B de C : PACIFICO REPORTS PASSENGER TRAFFIC DECREASE OF 30.2% FOR THE MONTH OF MARCH

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04/04/2020 | 08:53pm EDT

GUADALAJARA, Mexico, April 04, 2020 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V., (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced preliminary terminal passenger traffic figures for the month of March 2020, compared to traffic figures for March 2019.

During March 2020, total terminal passengers at GAP’s 14 airports decreased by 30.2%, compared to the same period of the previous year. Domestic passenger traffic decreased by 24.8%, while international passenger traffic decreased by 36.3%.

Domestic Terminal Passengers – 13 airports (in thousands): 
AirportMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
Guadalajara882.2614.3-30.4%2,420.4 2,336.5 -3.5% 
Tijuana*496.1418.4-15.7%1,361.2 1,420.1 4.3% 
Puerto Vallarta126.394.6-25.1%351.8 367.8 4.6% 
Los Cabos140.9116.4-17.4%394.7 402.7 2.0% 
Montego Bay0.60.0-96.6%1.8 1.0 -47.0% 
Guanajuato163.7107.3-34.5%462.0 424.6 -8.1% 
Hermosillo144.1109.1-24.3%385.0 396.1 2.9% 
Mexicali96.375.3-21.8%266.0 277.0 4.1% 
Morelia38.433.7-12.3%110.2 125.8 14.1% 
La Paz74.960.6-19.1%210.1 213.5 1.7% 
Aguascalientes53.035.2-33.6%142.9 137.6 -3.7% 
Los Mochis29.924.4-18.5%83.8 86.8 3.6% 
Manzanillo7.86.7-13.0%23.9 23.2 -2.8% 
Total2,254.21,696.0-24.8%6,213.6 6,212.6 0.0% 
        
        
International Terminal Passengers – 13 airports (in thousands):  
AirportMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
Guadalajara326.3221.8-32.0%988.1 957.8 -3.1% 
Tijuana*223.0151.9-31.9%658.1 684.3 4.0% 
Puerto Vallarta459.8275.0-40.2%1,257.0 1,086.3 -13.6% 
Los Cabos410.8232.8-43.3%1,056.2 947.1 -10.3% 
Montego Bay491.2261.4-46.8%1,336.2 1,132.9 -15.2% 
Guanajuato57.032.6-42.9%171.3 148.2 -13.5% 
Hermosillo5.34.0-23.6%17.1 18.8 9.8% 
Mexicali0.60.2-56.6%1.4 1.2 -16.1% 
Morelia34.125.1-26.2%101.3 99.6 -1.6% 
La Paz1.61.1-29.5%3.6 3.3 -7.0% 
Aguascalientes14.111.3-19.9%44.5 48.4 8.8% 
Los Mochis0.50.3-43.5%1.6 1.3 -23.1% 
Manzanillo13.57.5-44.2%37.2 28.5 -23.4% 
Total2,037.81,225.1-39.9%5,673.6 5,157.7 -9.1% 
        
        
International Terminal Passengers – 13 airports (in thousands):  
AirportMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
Guadalajara1,208.6836.1-30.8%3,408.5 3,294.4 -3.3% 
Tijuana*719.1570.3-20.7%2,019.3 2,104.4 4.2% 
Puerto Vallarta586.1369.6-36.9%1,608.7 1,454.1 -9.6% 
Los Cabos551.7349.2-36.7%1,450.9 1,349.8 -7.0% 
Montego Bay491.8261.5-46.8%1,338.0 1,133.9 -15.3% 
Guanajuato220.8139.9-36.6%633.3 572.9 -9.5% 
Hermosillo149.4113.1-24.3%402.1 414.9 3.2% 
Mexicali96.975.5-22.0%267.4 278.2 4.0% 
Morelia72.558.8-18.9%211.5 225.4 6.6% 
La Paz76.461.7-19.3%213.6 216.9 1.5% 
Aguascalientes67.146.5-30.8%187.5 186.0 -0.8% 
Los Mochis30.424.7-18.9%85.4 88.0 3.1% 
Manzanillo21.314.3-32.8%61.0 51.7 -15.3% 
Total4,292.02,921.1-31.9%11,887.2 11,370.4 -4.3% 
*Passengers in Tijuana who use CBX in both directions are classified as international.  
        
        
        
CBX Users: 
AirportMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
Tijuana219.4150.3-31.5%647.3 677.3 4.6% 
        
        
Kingston Airport (in thousands): 
PassengersMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
DomesticN/A0.1N/A N/A 1.3 N/A  
InternationalN/A72.7N/A N/A 353.5 N/A  
TotalN/A72.9N/A N/A 354.7 N/A  
        
Total Passengers – 14 airports (in thousands): 
PassengersMar-19Mar-20% ChangeJan-Mar 19Jan-Mar 20% Change 
Domestic2,254.21,696.1-24.8%6,213.6 6,213.9 0.0% 
International2,037.81,297.9-36.3%5,673.6 5,511.2 -2.9% 
Total4,292.02,994.0-30.2%11,887.2 11,725.1 -1.4% 
        

Highlights for the Period:

  • COVID-19: During the first week of March, the World Health Organization (WHO) issued a pandemic alert regarding the COVID-19 virus, which caused a gradual decline in international flights from Canada, the United States and Europe. This resulted in a sharp decline in international passenger traffic in Mexico and Jamaica.
  • In Mexico, the government did not issue any air travel restrictions, however, during the second week of March, this health emergency resulted in the declaration of Phase 1 of the pandemic; Phase 2 was declared for the fourth week of March. As a result, a large number of international flights were cancelled, as well as a significant decline in domestic travel.
  • In Jamaica, the government suspended all incoming international flights for a period of 14 days, starting March 25, 2020, excluding transportation of cargo and merchandise, and only allowed the departure of commercial flights.
  • The effects of the pandemic on the Company were reflected in the significant decline in passenger traffic for the month of March.
  • Occupancy decreased by 33.3 percentage points, from 85.3% in March 2019 to 52.0% in March 2020.

Kingston: The Company assumed control of this airport on October 10, 2019. For comparison purposes, historical information is presented, reporting a total of 72.9 thousand passengers in March 2020, a decline of 47.8% compared to March 2019.

Company Description
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis.  In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”.  In April 2015, GAP acquired 100% of Desarrollo de Concesiones Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts: 
Saúl Villarreal, Chief Financial Officersvillarreal@aeropuertosgap.com.mx
Alejandra Soto, IR and Financial Planning Managerasoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relationsgmurillo@aeropuertosgap.com.mx / +523338801100 ext.20294
Maria Barona, i-advize Corporate Communicationsmbarona@i-advize.com

 

 

GAP LOGO.png

Source: Grupo Aeroportuario del Pacífico, S.A.B. de C.V.

2020 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 15 715 M 690 M 690 M
Net income 2020 3 088 M 136 M 136 M
Net Debt 2020 11 580 M 508 M 508 M
P/E ratio 2020 27,7x
Yield 2020 0,24%
Capitalization 84 970 M 3 765 M 3 730 M
EV / Sales 2019
EV / Sales 2020 6,14x
Nbr of Employees 1 566
Free-Float 70,2%
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Average target price 189,13 MXN
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Raul Revuelta Musalem Chief Executive Officer
Laura Diez Barroso Azcárraga Chairman
Saúl Villarreal García Chief Financial Officer
Juan Francisco Martínez Mira Director-Quality, Innovation & IT
Carlos Cárdenas Guzmán Independent Director
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