MEXICO CITY, Oct. 25, 2021 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR, BMV:ASUR) (ASUR), a leading international airport group with operations in Mexico, the U.S., and Colombia, today announced results for the three- and nine-month periods ended September 30, 2021.

3Q21 Highlights¹

Total passenger traffic increased 231.2% year over year (YoY) reflecting the impact of the pandemic which impacted travel demand since mid-march 2020 and reached 98.6% of 3Q19 pre-pandemic levels. By country of operations, 3Q21 passenger traffic compared to 3Q19 levels were as follows:

Mexico: recovered to 94.9% of 3Q19 levels, with domestic and international traffic at 90.7% and 99.8% of 3Q19 levels, respectively
Puerto Rico (Aerostar): increased 16.3%, with domestic traffic up 21.6% more than offsetting the 26.8% decline in international traffic
Colombia (Airplan): recovered to 95.3% of 3Q19 traffic, with domestic and international traffic reaching levels of 95.6% and 93.6% of 3Q19 traffic, respectively.

Revenues increased 98.9% YoY to Ps.4,866.1 million, and were up 18.5% when compared to 3Q19. Excluding construction revenues, revenues increased 154.1% YoY, and 11.2% against 3Q19.
Consolidated commercial revenues per passenger were Ps.117.6 in 3Q21.
Consolidated EBITDA increased 285.8% YoY to Ps.2,913.0 million and 17.7% from pre-pandemic levels of 3Q19.
Adjusted EBITDA Margin (excludes the effect of IFRIC 12) increased to 67.7% from 44.6% in 3Q20 and compared to 64.0% in 3Q19.
Closed the quarter with cash & cash equivalents of Ps.11,042.6 million and Net Debt-to-LTM EBITDA at 0.4x.
Principal debt payments of Ps.353.7 million, or 2.5% of Total Debt, mature in 4Q21.
On October 1, 2021 the Company paid an ordinary net cash dividend of Ps.8.21 per common share.

Table 1: Financial & Operational Highlights ¹
	Third Quarter		*% Chg*
	2020	2021	*% Chg*
Financial Highlights
Total Revenue	2,447,072	4,866,106	98.9
Mexico	1,699,712	3,383,896	99.1
San Juan	681,538	999,885	46.7
Colombia	65,822	482,325	632.8
Commercial Revenues per PAX	137.4	117.6	(14.4)
Mexico	114.7	136.3	18.9
San Juan	186.1	152.3	(18.2)
Colombia	282.0	40.0	(85.8)
EBITDA	755,074	2,913,013	285.8
Net Income	147,027	1,957,451	1,231.4
Majority Net Income	105,155	1,793,950	1,606.0
Earnings per Share (in pesos)	0.3505	5.9798	1,606.0
Earnings per ADS (in US$)	0.1705	2.9082	1,606.0
Capex	834,473	601,180	(28.0)
Cash & Cash Equivalents	6,012,746	11,042,598	83.7
Net Debt	8,732,330	3,033,148	(65.3)
Net Debt/ LTM EBITDA	1.5	0.4	(79.6)
Operational Highlights
Passenger Traffic
Mexico	3,023,846	7,909,155	161.6
San Juan	963,677	2,739,163	184.2
Colombia	146,678	3,043,742	1,975.1

¹Unless otherwise stated, all financial figures discussed in this announcement are unaudited, prepared in accordance with International Financial Reporting Standards (IFRS), and represent comparisons between the three- and nine-month periods ended September 30, 2021, and the equivalent three- and nine-month periods ended September 30, 2020. All figures in this report are expressed in Mexican pesos, unless otherwise noted. Tables state figures in thousands of Mexican pesos, unless otherwise noted. Passenger figures for Mexico and Colombia exclude transit and general aviation passengers, unless otherwise noted. Commercial revenues include revenues from non-permanent ground transportation and parking lots. All U.S. dollar figures are calculated at the exchange rate of US$1.00 = Mexican Ps.20.5623 (source: Diario Oficial de la Federación de México), while Colombian peso figures are calculated at the exchange rate of COP184.2500 = Mexican Ps.1.00 (source: Investing). Definitions for EBITDA, Adjusted EBITDA Margin, Majority Net Income can be found on page 20 of this report.

3Q21 Earnings Call

Date & Time: Tuesday, October 26, 2021 at 10:00 AM US ET; 9:00 AM CT

Dial-in: 1-866-248-8441 (US & Canadá); 1-323-289-6581 (Internacional y México); Access Code: 9826046

Replay: Tuesday, October 26, 2021 at 1:00 PM US ET, ending at 11:59 PM US ET on Tuesday, November 2, 2021. Dial-in number: 1-844-512-2921 (US & Canada); 1-412-317-6671 (International & Mexico). Access Code: 9826046

For a full version of ASUR's Third Quarter 2021 Earnings Release, please visit: http://www.asur.com.mx/en/investor-relations/financial-information.html

Definitions

Concession Services Agreements (IFRIC 12 interpretation). In Mexico and Puerto Rico, ASUR is required by IFRIC 12 to include in its income statement an income line, "Construction Revenues," reflecting the revenue from construction or improvements to concessioned assets made during the relevant period. The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services. Because equal amounts of Construction Revenues and Construction Costs have been included in ASUR's income statement as a result of the application of IFRIC 12, the amount of Construction Revenues does not have an impact on EBITDA, but it does have an impact on EBITDA Margin. In Colombia, "Construction Revenues" include the recognition of the revenue to which the concessionaire is entitled for carrying out the infrastructure works in the development of the concession, while "Construction Costs" represents the actual costs incurred in the execution of such additions or improvements to the concessioned assets.

Majority Net Income reflects ASUR's equity interests in each of its subsidiaries and therefore excludes the 40% interest in Aerostar that is owned by other shareholders. Other than Aerostar, ASUR owns (directly or indirectly) 100% of its subsidiaries.

EBITDA means net income before provision for taxes, deferred taxes, profit sharing, non-ordinary items, participation in the results of associates, comprehensive financing cost, and depreciation and amortization. EBITDA should not be considered as an alternative to net income, as an indicator of our operating performance or as an alternative to cash flow as an indicator of liquidity. Our management believes that EBITDA provides a useful measure that is widely used by investors and analysts to evaluate our performance and compare it with other companies. EBITDA is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies.

Adjusted EBITDA Margin is calculated by dividing EBITDA by total revenues excluding construction services revenues for Mexico, Puerto Rico, and Colombia and excludes the effect of IFRIC 12 with respect to the construction or improvements to concessioned assets. ASUR is required by IFRIC 12 to include in its income statement an income line reflecting the revenue from construction or improvements to concessioned assets made during the relevant period. The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services. In Mexico and Puerto Rico, because equal amounts of Construction Revenues and Construction Costs have been included in ASUR's income statement as a result of the application of IFRIC 12, the amount of Construction Revenues does not have an impact on EBITDA, but it does have an impact on EBITDA Margin, as the increase in revenues that relates to Construction Revenues does not result in a corresponding increase in EBITDA. In Colombia, construction revenues do have an impact on EBITDA, as construction revenues include a reasonable margin over the actual cost of construction. Like EBITDA Margin, Adjusted EBITDA Margin should not be considered as an indicator of our operating performance or as an alternative to cash flow as an indicator of liquidity and is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies.

About ASUR

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a portfolio of concessions to operate, maintain, and develop 16 airports in the Americas. These comprise nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean, and Latin America, and six airports in northern Colombia, including José María Córdova International Airport (Rionegro), the second busiest airport in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muñoz Marín International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first and currently the only major airport in the US to have successfully completed a public–private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx

Forward Looking Statements

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR's filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. In particular, the impact of the COVID-19 pandemic on global economic conditions and the travel industry, as well as on the business and results of operations of the Company in particular, is expected to be material, and, as conditions are changing rapidly, is difficult to predict. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

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SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

ASUR Reports 3Q21 Financial Results