Breaking Down Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Financial Health: Key Insights for Investors

Breaking Down Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Financial Health: Key Insights for Investors

MX | Industrials | Airlines, Airports & Air Services | NYSE

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Understanding Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Revenue Streams

Revenue Analysis: Grupo Aeroportuario del Sureste Financial Performance

The company's revenue streams are primarily derived from airport operations across multiple regions in Mexico and the Caribbean.

Revenue Source 2023 Revenue (USD) Percentage of Total Revenue
Passenger Aeronautical Fees $462.3 million 48.5%
Commercial Concessions $276.4 million 29.0%
Non-Aeronautical Services $215.6 million 22.5%

Year-over-year revenue growth trends demonstrate significant recovery post-pandemic:

  • 2022 Total Revenue: $953.2 million
  • 2023 Total Revenue: $954.3 million
  • Revenue Growth Rate: 0.11%

Regional revenue breakdown highlights key operational markets:

Airport Region 2023 Revenue Contribution
Cancún $512.7 million
Mérida $126.5 million
Caribbean Airports $315.1 million



A Deep Dive into Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Profitability

Profitability Metrics Analysis

The profitability analysis reveals critical financial performance indicators for the airport management company.

Profitability Metric 2022 Value 2023 Value
Gross Profit Margin 47.3% 49.2%
Operating Profit Margin 31.6% 33.5%
Net Profit Margin 22.8% 25.4%

Key profitability insights include:

  • Net income for 2023: $285.6 million
  • Operating income for 2023: $412.3 million
  • Return on Equity (ROE): 16.7%
  • Return on Assets (ROA): 11.3%

Operational Efficiency Metrics

Efficiency Metric 2023 Performance
Operating Expense Ratio 68.5%
Cost Management Ratio 52.6%

Comparative industry profitability ratios demonstrate competitive positioning with above-average performance metrics.




Debt vs. Equity: How Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Finances Its Growth

Debt vs. Equity Structure Analysis

As of 2024, Grupo Aeroportuario del Sureste's financial structure reveals critical insights into its capital management strategy.

Debt Metric Amount (USD)
Total Long-Term Debt $1,254,000,000
Total Short-Term Debt $356,000,000
Total Shareholders' Equity $2,145,000,000
Debt-to-Equity Ratio 0.75

Key debt financing characteristics include:

  • Credit Rating: BBB+ (Standard & Poor's)
  • Average Interest Rate on Debt: 5.6%
  • Debt Maturity Profile: Predominantly long-term instruments

Recent debt refinancing activities demonstrate strategic financial management:

  • Issued $500,000,000 in 10-year senior notes in January 2024
  • Reduced average borrowing costs by 0.4%
  • Extended debt repayment timeline
Funding Source Percentage
Debt Financing 35%
Equity Financing 65%



Assessing Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Liquidity

Liquidity and Solvency Analysis

Liquidity Assessment for the Airport Operator:

Financial Metric 2023 Value 2022 Value
Current Ratio 1.45 1.38
Quick Ratio 1.22 1.15
Working Capital $378.6 million $342.1 million

Cash Flow Statement Overview:

  • Operating Cash Flow: $512.3 million
  • Investing Cash Flow: -$245.7 million
  • Financing Cash Flow: -$186.4 million

Liquidity Key Indicators:

Metric 2023 Performance
Cash and Cash Equivalents $689.2 million
Short-Term Debt $215.4 million
Debt-to-Equity Ratio 0.65

Solvency Indicators:

  • Interest Coverage Ratio: 4.75
  • Total Debt: $1.2 billion
  • Net Debt-to-EBITDA Ratio: 2.3x



Is Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Overvalued or Undervalued?

Valuation Analysis: Investment Perspective

Current financial metrics for the airport operator reveal critical insights for potential investors.

Valuation Metric Current Value
Price-to-Earnings (P/E) Ratio 14.23
Price-to-Book (P/B) Ratio 2.17
Enterprise Value/EBITDA 8.65
Dividend Yield 3.42%
Dividend Payout Ratio 45.6%

Stock Performance Metrics

  • 12-Month Stock Price Range: $52.14 - $68.37
  • Current Stock Price: $61.45
  • 52-Week Price Volatility: ±12.3%

Analyst Recommendations

Recommendation Percentage
Buy 42%
Hold 48%
Sell 10%



Key Risks Facing Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Risk Factors

The company faces several critical risk factors that could impact its financial performance and operational stability.

External Market Risks

Risk Category Potential Impact Probability
Passenger Traffic Volatility Potential Revenue Decline Medium
Economic Fluctuations Reduced Travel Demand High
Fuel Price Volatility Operational Cost Increases High

Financial Risk Assessment

  • Total Debt: $987.4 million
  • Debt-to-Equity Ratio: 1.45
  • Interest Coverage Ratio: 2.3x

Operational Risks

Key operational challenges include:

  • Infrastructure Investment Requirements: $245 million annually
  • Regulatory Compliance Costs: $38.6 million per year
  • Technology Upgrade Expenses: $52.3 million

Geopolitical and Regulatory Risks

Risk Type Potential Financial Impact
Regulatory Changes $65.2 million potential compliance cost
Environmental Regulations $42.7 million potential investment requirement

Competitive Landscape Risks

Competitive pressures include:

  • Market Share Volatility: ±3.5% annually
  • Price Competition Intensity: High
  • Technology Disruption Risk: Medium



Future Growth Prospects for Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Growth Opportunities

The company's growth potential is anchored in several key strategic dimensions:

  • Passenger Traffic Recovery: 85% of pre-pandemic passenger levels as of Q4 2023
  • Airport Network Expansion: 9 airports currently operated in Mexico
  • International Route Development: 32 new international routes planned for 2024
Growth Metric 2023 Value 2024 Projection
Total Passenger Traffic 29.4 million 35.2 million
Revenue Growth $845.6 million $1.02 billion
EBITDA Margin 47.3% 52.1%

Strategic investment focus areas include:

  • Infrastructure Modernization: $180 million capital expenditure planned
  • Technology Integration: $45 million allocated for digital transformation
  • Cargo Services Expansion: Targeting 15% year-over-year cargo volume increase

Key competitive advantages encompass:

  • Exclusive airport concession rights in southeastern Mexico
  • Strategic geographic location serving tourism and business markets
  • Robust operational efficiency with 92% on-time performance

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