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Grupo Aeroportuario Del Pacifico, S.A.B. de C.V. Announces Results for the Fourth Quarter 2014

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Grupo Aeroportuario del Pac’ifico, S.A.B. de C.V. (NYSE:PAC) (BMV:GAP) (“the Company” or “GAP”) reported its consolidated results for the fourth quarter ended December 31, 2014. Figures are unaudited and have been prepared in accordance with International Financial Reporting Standards (“IFRS”), issued by the International Accounting Standards Board (“IASB”). All amounts are presented in nominal pesos.

Summary of 4Q14 vs. 4Q13:

  • The sum of aeronautical and non-aeronautical revenues increased Ps. 29.3 million, or 2.3%. Total revenues decreased 0.5%, or Ps. 7.1 million.
  • Cost of services decreased Ps. 23.1 million, or 7.5%, compared to 4Q13.
  • Operating income increased Ps. 47.3 million, or 7.6%.
  • EBITDA increased Ps. 81.0 million, or 9.6%, in 4Q14 compared to 4Q13. EBITDA margin (excluding the effects of IFRIC 12) increased from 67.3% in 4Q13 to 72.0% in 4Q14.
  • Net income and comprehensive income declined by Ps. 268.5 million, or 30.0%, mainly due to our recognition of deferred taxes in 4Q13 as a result of the 2014 fiscal reform, which generated a benefit of Ps. 207.4 million. Nonetheless, Net Income for the 2014 fiscal year only decreased by Ps. 3.7 million.

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