GUADALAJARA, Mexico, April 29 /PRNewswire-FirstCall/ -- Grupo
Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ('the
Company' or 'GAP') today reported its results for the first quarter ended
March 31, 2009. Figures are unaudited and have been prepared in accordance
with Mexican Financial Reporting Standards ('NIF'). All peso amounts are
presented in nominal pesos.
Highlights for First Quarter 2009 vs. First Quarter 2008:
-- Revenues declined 6.1%, (Ps. 57.5 million), mainly due to the decrease
in aeronautical revenues. It is important to mention that in 2008 the
Easter Week vacation period took place during the first quarter (in the
month of March), while in 2009 it took place during the month of April.
-- Revenues from aeronautical services declined 9.5%, mainly as a
result of a decline in airplane landing fees, airplane parking fees,
the renting of space to airlines and the use of walkways, caused by
the cessation of operations by some of the airlines during the final
months of 2008. Non-aeronautical services revenues increased 8.4%.
-- Cost of services increased 9.6%, or Ps. 18.8 million; as a percentage
of revenues, cost of services increased 350 basis points and per
workload unit ('WLU') cost of services increased Ps. 9.6, from Ps. 29.2
in the first quarter of 2008 to Ps. 38.8 in the first quarter of 2009,
mainly due to increase in the reserve for doubtful accounts of certain
commercial clients, which are currently in the process of negotiation,
for Ps. 15.2 million. Without considering the reserve for doubtful
accounts, cost of services would have increased only 1.8%; as a
percentage of revenues, cost of services would have increased 172 basis
points and per WLU, cost of services would have increased Ps. 6.9, to
Ps. 36.1 in the first quarter of 2009 from Ps. 29.2 in the first
quarter of 2008.
-- As a result of the decrease in total revenues, cost of government
concession taxes decreased 6.1% and the technical assistance fee
decreased 10.4%, mainly due to lower total revenues and an increase in
costs.
-- Operating income declined 16.9%.
-- EBITDA decreased 10.4% excluding the reserve for doubtful accounts,
EBITDA would have declined only 1.5%.
-- Net income decreased 6.6%, Ps. 28.5 million lower than the figure
reported in the first quarter of 2008, mainly due to the decline in
income before taxes.
For the full version of this report, please visit
www.aeropuertosgap.com.mx
For more information, please visit www.aeropuertosgap.com.mx or contact:
In Mexico
Miguel Aliaga, Investor Relations Officer
Rodrigo Guzman, Chief Financial Officer
Grupo Aeroportuario del Pacifico, S.A.B. de C.V.
Tel: 011 52 (333) 880 1100 ext 216
maliaga@aeropuertosgap.com.mx
In the U.S.
Maria Barona
Kenia Vargas
i-advize Corporate Communications, Inc.
Tel: 212 406 3691/3695
gap@i-advize.com
SOURCE Grupo Aeroportuario del Pacifico, S.A.B. de C.V.