GUADALAJARA, Mexico, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ("the Company” or "GAP”) reports its consolidated results for the fourth quarter ended December 31, 2024 (4Q24). Figures are unaudited and prepared following International Financial Reporting Standards ("IFRS”) as issued by the International Accounting Standards Board ("IASB”).
Summary of Results 4Q24 vs. 4Q23
- The sum of aeronautical and non-aeronautical services revenues increased by Ps. 1,002.2 million, or 16.4%. Total revenues increased by Ps. 496.1 million, or 5.4%.
- Cost of services increased by Ps.346.6 million, or 29.0%.
- Income from operations increased by Ps. 378.6 million, or 11.0%.
- EBITDA increased by Ps. 615.4 million, or 14.9%, from Ps. 4,141.6 million in 4Q23 to Ps. 4,757.0 million in 4Q24. EBITDA margin (excluding the effects of IFRIC-12) went from 67.8% in 4Q23 to 66.9% in 4Q24.
- Comprehensive income increased by Ps. 317.7 million, or 16.2%, from Ps. 1,956.7 million in 4Q23 to Ps. 2,274.3 million in 4Q24.
During 4Q24, aeronautical revenues increased compared to 4Q23, mainly driven by the recovery in passenger traffic due to the opening of new routes. Additionally, part of Volaris and Viva's aircraft fleet, which had been under inspection due to preventive measures on Pratt & Whitney's A320neo and A321neo engines, has resumed operations, contributing to passenger growth. Similarly, non-aeronautical revenues increased by 32.7%, driven by the consolidation of the cargo and free trade zone business at Guadalajara Airport starting in July 2024, as well as the 14.1% depreciation of the peso against the dollar, which resulted in higher revenues from the consolidation of Jamaica's airports.
As of December 31, 2024, the Company reported a cash and cash equivalents position of Ps. 13,466.0 million. During 4Q24, it also refinanced its credit line with Santander for a total of Ps. 1,500.0 million.
Passenger Traffic
During 4Q24, total passengers at the Company's 14 airports increased by 223.4 thousand passengers, an increase of 1.4%, compared to 4Q23.
During 4Q24, the following new routes were opened:
Domestic:
| Airline | Departure | Arrival | Opening date | Frequencies |
| Viva | Guanajuato | Felipe Ángeles | October 2, 2024 | 1 daily |
| Volaris | Hermosillo | Monterrey | November 3, 2024 | 2 daily |
| Volaris | Morelia | Monterrey | November 3, 2024 | 4 weekly |
| Volaris | Mexicali | Monterrey | November 3, 2024 | 4 weekly |
| Volaris | Los Mochis | Monterrey | November 4, 2024 | 3 daily |
| Viva | Guadalajara | Mexicali | December 2, 2024 | 1 daily |
| Viva | Mexicali | Guadalajara | December 2, 2024 | 1 daily |
| Viva | Guadalajara | Ciudad Obregón | December 2, 2024 | 3 daily |
| Viva | Guadalajara | Torreón | December 3, 2024 | 3 weekly |
| Viva | Guadalajara | Puerto Escondido | December 3, 2024 | 3 weekly |
| Viva | Guadalajara | Tulum | December 5, 2024 | 1 daily |
International:
| Airline | Departure | Arrival | Opening date | Frequencies |
| World2Fly | Puerto Vallarta | Praga | October 22, 2024 | 1 weekly |
| Arajet | Kingston | Punta Cana | October 27, 2024 | 2 weekly |
| Volaris | Guadalajara | San José | October 29, 2024 | 2 weekly |
| Volaris | Tijuana | Las Vegas | October 29, 2024 | 3 weekly |
| Aeroméxico | Manzanillo | Atlanta | November 2, 2024 | 1 weekly |
| Condor | Los Cabos | Frankfurt | November 3, 2024 | 2 weekly |
| WestJet | Los Cabos | Winnipeg | November 9, 2024 | 1 weekly |
| Avelo | Montego Bay | Hartford | November 16, 2024 | 3 weekly |
| Bahamasair | Montego Bay | Nassau | November 17, 2024 | 2 weekly |
| Alaska | La Paz | Los Ángeles | November 20, 2024 | 2 weekly |
| LATAM | Montego Bay | Lima | December 1, 2024 | 2 weekly |
| Viva | Guadalajara | Oakland | December 2, 2024 | 1 daily |
| Viva | Guadalajara | Las Vegas | December 2, 2024 | 4 weekly |
| Viva | Guadalajara | San Antonio | December 2, 2024 | 4 weekly |
| Alaska | Guadalajara | Fresno | December 3, 2024 | 1 daily |
| Viva | Guadalajara | Dallas-Fort Worth | December 3, 2024 | 4 weekly |
| Caribbean Airlines | Kingston | Fort Lauderdale | December 17, 2024 | 3 weekly |
| Aeroméxico | Guadalajara | Las Vegas | December 19, 2024 | 6 weekly |
| Aeroméxico | Guadalajara | Miami | December 19, 2024 | 1 daily |
| Aeroméxico | Guadalajara | Orlando | December 19, 2024 | 1 daily |
| Aeroméxico | Guadalajara | Denver | December 21, 2024 | 1 weekly |
| Aeroméxico | Manzanillo | Los Ángeles | December 21, 2024 | 1 weekly |
Domestic Terminal Passengers - 14 airports (in thousands):
| Airport | 4Q23 | 4Q24 | Change | 2023 | 2024 | Change |
| Guadalajara | 3,107.8 | 3,160.1 | 1.7% | 12,502.9 | 11,939.5 | (4.5%) |
| Tijuana * | 2,118.8 | 2,143.4 | 1.2% | 8,870.4 | 8,431.6 | (4.9%) |
| Los Cabos | 721.5 | 710.7 | (1.5%) | 2,965.7 | 2,830.4 | (4.6%) |
| Puerto Vallarta | 663.0 | 720.3 | 8.7% | 2,860.1 | 2,841.9 | (0.6%) |
| Montego Bay | 0.0 | 0.0 | 0.0% | 0.0 | 0.0 | 0.0% |
| Guanajuato | 616.1 | 571.3 | (7.3%) | 2,345.6 | 2,116.6 | (9.8%) |
| Hermosillo | 561.9 | 561.7 | (0.0%) | 2,114.3 | 2,074.4 | (1.9%) |
| Kingston | 0.5 | 0.5 | 6.7% | 1.8 | 2.9 | 60.9% |
| Mexicali | 421.9 | 261.8 | (38.0%) | 1,596.7 | 1,026.9 | (35.7%) |
| Morelia | 186.7 | 181.3 | (2.9%) | 795.8 | 645.9 | (18.8%) |
| La Paz | 287.8 | 312.0 | 8.4% | 1,102.0 | 1,191.9 | 8.2% |
| Aguascalientes | 161.1 | 169.1 | 4.9% | 639.7 | 636.1 | (0.6%) |
| Los Mochis | 127.5 | 165.4 | 29.7% | 463.8 | 577.4 | 24.5% |
| Manzanillo | 32.7 | 33.9 | 3.5% | 112.8 | 128.3 | 13.7% |
| Total | 9,007.5 | 8,991.5 | (0.2%) | 36,371.5 | 34,443.8 | (5.3%) |
International Terminal Passengers - 14 airports (in thousands):
| Airport | 4Q23 | 4Q24 | Change | 2023 | 2024 | Change |
| Guadalajara | 1,358.5 | 1,556.0 | 14.5% | 5,207.4 | 5,909.1 | 13.5% |
| Tijuana * | 1,070.0 | 1,112.2 | 3.9% | 4,324.5 | 4,114.1 | (4.9%) |
| Los Cabos | 1,146.8 | 1,168.8 | 1.9% | 4,749.9 | 4,657.8 | (1.9%) |
| Puerto Vallarta | 1,063.8 | 991.1 | (6.8%) | 3,927.6 | 3,961.6 | 0.9% |
| Montego Bay | 1,248.5 | 1,159.8 | (7.1%) | 5,211.7 | 5,057.0 | (3.0%) |
| Guanajuato | 229.7 | 279.0 | 21.4% | 875.2 | 1,052.4 | 20.2% |
| Hermosillo | 20.5 | 19.9 | (3.0%) | 75.5 | 82.5 | 9.2% |
| Kingston | 407.3 | 449.4 | 10.3% | 1,746.3 | 1,774.3 | 1.6% |
| Mexicali | 1.6 | 1.7 | 2.9% | 6.9 | 7.3 | 4.4% |
| Morelia | 144.4 | 174.9 | 21.1% | 588.5 | 658.8 | 12.0% |
| La Paz | 3.5 | 5.4 | 53.9% |
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