GUADALAJARA, Mexico--(BUSINESS WIRE)--
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC) (BMV: GAP) (the “Company” or “GAP”) reported its consolidated results for the quarter ended September 30, 2016. Figures are unaudited and have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). As a result of the acquisition of Desarrollo de Concesiones Aeroportuarias, S.L. (“DCA”) on April 20, 2015, financial and operating information includes the consolidation of the Montego Bay airport on April 1, 2015. Therefore, information for the nine months of 2016 may not be directly comparable with information for the nine months of 2015. All peso amounts are presented in nominal pesos.
Summary of 3Q16 vs. 3Q15
- The sum of aeronautical and non-aeronautical services revenues increased by Ps. 465.7 million, or 24.4%. Total revenues increased by Ps. 694.5 million, or 32.2%.
- Cost of services increased by Ps. 35.2 million, or 8.7%.
- Operating income increased by Ps. 139.2 million, or 11.8%.
- EBITDA increased by Ps. 167.9 million, or 11.2%. EBITDA margin (excluding the effects of IFRIC 12) decreased from 78.2% in 3Q15 to 69.9% in 3Q16. In 3Q15, the Company recognized a Ps. 161.9 million one-time gain in the fair value of the acquisition of DCA; excluding the effects of this non-recurring event, EBITDA for 3Q16 would have increased by Ps. 329.8 million and EBITDA margin (excluding the effects of IFRIC 12) would have increased from 69.7% in 3Q15 to 69.9% in 3Q16.
- Net income and comprehensive income decreased by Ps. 47.0 million, or 4.7%.
For the full version of this report please visit www.aeropuertosgap.com.mx
For more information please visit www.aeropuertosgap.com.mx
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