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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 Informs Regarding Media Coverage

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10/09/2019 | 09:30pm EST

GUADALAJARA, Mexico, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announced today, per the request of the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B de C.V.), and in accordance with Article 54 of the General Legal Provisions Applicable to Securities Issuers and Other Securities Markets Participants, that with regards to recent mentions in the media, per the Company´s business plan GAP is always considering various strategic alternatives in order to maintain growth, maximize value and efficiency.

While GAP has explored diverse acquisition alternatives, including that of certain assets related to the development and operation of roads and other infrastructures, at this time the Company is not actively participating in any specific process. Therefore, currently, the Company has no information to announce to the market with respect to a particular alternative or project, in accordance with applicable law and good market practices.

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 listed its shares 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. Subject to certain conditions precedent, GAP expects to take control of the operation of the Kingston airport in the last quarter of 2019.

This press release may contain forward-looking statements.  These statements 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 conditions, 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 01-800-563-0047. The web site is http://www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts: 
Saúl Villarreal, Chief Financial and Administrative 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.

2019 GlobeNewswire, Inc., source Press Releases

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Financials (MXN)
Sales 2019 15 298 M
EBIT 2019 8 340 M
Net income 2019 5 303 M
Debt 2019 8 105 M
Yield 2019 4,54%
P/E ratio 2019 21,1x
P/E ratio 2020 17,9x
EV / Sales2019 7,44x
EV / Sales2020 6,64x
Capitalization 106 B
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 213,29  MXN
Last Close Price 201,20  MXN
Spread / Highest target 20,8%
Spread / Average Target 6,01%
Spread / Lowest Target -8,55%
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Managers
NameTitle
Raul Revuelta Musalem Chief Executive Officer
Laura Diez Barroso Azcárraga Chairman
Saúl Villarreal García Chief Financial Officer & Administration Director
Jose Angel Martinez Sanchez Director-Technical Operations
Carlos Cárdenas Guzmán Independent Director
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