Grupo Aeroportuario Del Pacifico Sab De Cv Class B · BMV:GAP/B
Grupo Aeroportuario Del Pacifico Sab De Cv Class B — Investor Day (2013)
70 slides from Grupo Aeroportuario Del Pacifico Sab De Cv Class B's investor day presentation, Jun 18, 2013
Slide 1: Aeronautical and Commercial Revenue Developments
Aeronautical and Commercial Revenue Developments Raúl Revuelta Chief Commercial Officer
Slide 2: Historic Revenue Mix
Historic Revenue Mix 100% 90% 80% 70% 75.2% 60% 81.5% 81.4% 80.9% 79.1% 77.7% 79.6% 78.9% 76.9% 85.0% 82.4% 88.6% 91.9% 90.2% 50% 40% 30% 20% 22.3% 20.4% 21.1% 23.1% 24.8% 10% 17.6% 18.5% 18.6% 19.1% 20.9% 15.0% 9.8% 11.4% 8.1% 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Slide 3: I. Traffic Results and Airports Overview
I. Traffic Results and Airports Overview (GDL, PVR, SJD, PVR)
Slide 4: Traffic Results: Historic Passengers
Traffic Results: Historic Passengers 26.0 24.0 23.6 22.3 22.3 22.0 21.3 20.5 Millones 20.2 20.2 20.0 19.1 19.3 18.0 17.5 16.4 16.0 14.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013p Factors: •2006 – 2007 – Low-Cost Carrier Effect / Price Wars •2008 – 2009 – Exit of 8 airlines, economic dow
Slide 5: Traffic Results: 2012 vs 2011
Traffic Results: 2012 vs 2011 Pax per Airport Domestic International Total Ch % 2012/2011 Airport 2011 2012 2011 2012 2011 2012 Dom Int Tot Aguascalientes 233,398 267,560 95,092 132,534 328,490 400,094 14.6% 39.4% 21.8% Guanajuato 474,122 551,693 380,093 398,626 854,215 950,319 16.4% 4.9% 11.3% Guad
Slide 6: 2012 Airport Overview: 79% at 4 Airports
2012 Airport Overview: 79% at 4 Airports GAP´s Airports Share Passengers Traffic Composition Guanajuato 4% Others 11% Hermosillo 6% Guadalajara 35% International Traffic Puerto Vallarta 34% 12% Domestic Traffic Los Cabos 66% Tijuana 14% 18% Page 6
Slide 7: Guadalajara - weekly departures
Guadalajara - 864 weekly departures … to 22 Mexican destinations, 17 U.S. gateways, and Panama City in Central America Guadalajara Catchment Area Area Population (000) Guadalajara Metro 4,375 Surrounding region Approx.. 12,000 Total 16,375 Guadalajara Metro’s “middle class and higher” population – w
Slide 8: Tijuana - scheduled passenger service
Tijuana - scheduled passenger service … to 26 destinations, 24 Mexico domestic destinations and 2 Asia destinations… It´s a leading Manufacturing Center and home to many high – tech companies from Asia Tijuana Manufacturing Industry has over 560 factories employing more than 164,880 workers NAFTA ha
Slide 9: Los Cabos weekly departures
Los Cabos has 269 weekly departures … to 5 Mexican destinations, 18 U.S. and Canadian destinations Lodging in SJD 2012 Hotels (4 Star and Up) 79 Hotel Rooms (4 Star and Up) 11,351 Time Share Facilities 51 Time Share Units 8,353 Los Cabos Hotel Occupancy Rate During 2012, the investment in 80% infras
Slide 10: Puerto Vallarta - weekly departures
Puerto Vallarta - 264 weekly departures … to 5 Mexican destinations, 16 U.S. gateways and 14 Canadian destinations Tourist Lodging in PVR and Nuevo Vallarta 2012 Hotels (4 Star and Up) 39 Hotel Rooms (4 Star and Up) 15,838 Time Share Facilities 81 Time Share Units 11,984 Puerto Vallarta Hotel Occupa
Slide 11: II. Overview of Main Carriers
II. Overview of Main Carriers
Slide 12: Total traffic dominated by Volaris & Aeromexico Group 2012
Total traffic dominated by Volaris & Aeromexico Group 2012 Total Passenger Share Sunwing 0.9% Magnicharters 1.1% Frontier 0.7% West Jet 1.4% Others Delta 1.8% 5.3% 3.3% 4.0% 5.4% 33.1% 5.6% 6.7% 20.9% 9.8% Page 12
Slide 13: Domestic Traffic was dominated by Volaris and Aeromexico Group 2012
Domestic Traffic was dominated by Volaris and Aeromexico Group 2012 Domestic Traffic Magnicharters 1.7% Others 1.9% 8.5% 15.0% 44.0% 28.9% Page 13
Slide 14: International Traffic - dominated by United Airlines
International Traffic - dominated by United Airlines International Traffic Air Transat 1.8% Frontier 1.9% Others 10.0% 2.5% 4.2% 19.6% 5.2% 5.5% 15.8% 9.7% 12.0% 11.7% Page 14
Slide 15: Mexican Carriers Current Fleet
Mexican Carriers Current Fleet 2007 2012 December 2013 Estimated Fleet Seats Aircraft Total Seats Aircraft Total Seats Aircraft Total Seats 2007 vs 2012 Interjet 11 1,650 37 5,550 56 7,650 236.4% Vivaaerobus 5 750 19 2,850 17 2,550 280.0% Grupo Aeromexico 112 12,105 113 12,339 120 13,342 1.9% Aerome
Slide 16: Weekly Frequencies: Volaris
Volaris Current Destinations in Mexico Current Active Fleet and Orders February 2013 December 2012 60 GAP Weekly Main Hub (s) 50 Destination Freq. Number of Aircraft TIjuana 222 40 A320neo Guadalajara 172 A320 30 Mexicali 28 20 Hermosillo 26 A319 Other GAP Destinations 66 10 A320 Other Non GAP Desti
Slide 17: Weekly Frequencies: Aeroméxico
Aeroméxico Current Destinations to GAP Airports & Current Active Fleet and Orders The United States December 2012 February 2013 120 GAP 100 U.S. Destinations Weekly Freq. ERJ-145 Destination Number of Aircraft Los Angeles, 80 787 Guadalajara Sacramento, Fresno, 22 E-170/190 Chicago, Ontario 60 767/7
Slide 18: Weekly Frequencies: Interjet
Interjet Current Destinations in Mexico Current Active Fleet and Orders February 2013 December 2012 70 GAP Weekly Main Hub (s) 60 Destination Freq. Sukhoi Mexico City, Tijuana, 50 Number of Aircraft Guadalajara 107 Orange County, etc. Mexico City, Guadalajara, 40 Los Cabos 30 Toluca 30 Tijuana Mexic
Slide 19: Weekly Frequencies: VivaAerobus
VivaAerobus Current Destinations in Mexico Current Active Fleet and Orders February 2013 December 2012 20 GAP Weekly Main Hub (s) 18 Destination Freq. 16 Mexico City, Monterrey, Guadalajara 63 Number of Aircraft Veracruz, etc. 14 Culiacan, Guadalajara, 12 Los Cabos 14 Monterrey 10 737-300 Hermosillo
Slide 20: Weekly Frequencies: Alaska Airlines
Alaska Airlines Current Destinations in Mexico Current Active Fleet and Orders to Mexico February 2013 January 2013 Weekly 140 Destination Main Hub (s) Freq. 120 Number of Aircraft Los Angeles, San Diego, San Jose 40 San Francisco etc 100 Los Angeles, San Diego, 80 Puerto Vallarta 24 San Francisco e
Slide 21: United: Destinations and Fleet
United Current Destinations in Mexico Current Active Fleet and Orders to Mexico February 2013 January 2013 Destination Main Hub (s) Weekly Freq. Number of Aircraft 800 Houston, Chicago, Los Mexico City 105 700 Number of Aircraft Angeles etc. 800 Houston, San Francisco, 600 A320 Family 700 Cancun 91
Slide 22: Weekly Frequencies: WestJet
WestJet Current Destinations in Mexico Current Active Fleet and Orders to Mexico February 2013 January 2013 Destination Main Hub (s) Weekly Freq. 120 100 Number of Aircraft Toronto, Vancouver & Cancun 58 Calgary 80 Calgary, Vancouver & 60 Puerto Vallarta 28 Toronto 737 40 Other 21 20 737 TOTAL 107 0
Slide 23: What to expect from the airlines
What to expect from the airlines •Mexican Carriers •VivaAerobus, Aeromexico, Volaris and Interjet will expand their frequencies at various airports in the GAP network •U.S. Carriers •Expansion of new US Airlines in GAP´s airports such as Southwest, Spirit and American Airlines. •The seats offered by
Slide 24: III. Commercial Results 2012
III. Commercial Results 2012
Slide 25: Commercial Revenue Evolution
Commercial Revenue Evolution 25.0% 22.7% 20.0% 19.4% 14.9% 15.0% 13.9% 12.5% 12.0% 10.0% 7.2% 6.2% 4.9% 5.3% 5.0% 5.0% 4.3% 0.6% 0.0% -0.1% 2006 2007 2008 2009 2010 2011 2012 2013p -5.0% -5.6% -10.0% -15.0% -13.3% Main Factors -20.0% in Commercial Growth Passenger Growth Rate Commercial Revenue Grow
Slide 26: Commercial Revenue Evolution 2000-2012
03 - 12 Commercial Revenue Evolution 1,014.0 936.2 914.0 814.0 784.0 738.1 702.9 707.4 714.0 CAGR 00 VS 12 19.46 % 627.6 614.0 Millones 511.4 514.0 449.0 414.0 358.7 314.0 254.0 214.0 147.3 161.0 110.8 114.0 14.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Page 26
Slide 27: Commercial Revenues Grew 19.4%
Commercial Revenues Grew 19.4% Services* 0.0 Main Factors in Commercial Growth FBO 0.8 •Other Revenues: Growth of 156.5% mainly Convenience Store 1.4 caused by a one-time entrance fee from the Aldeasa World Duty Free Group to the new Retail 1.5 Terminal 2 in Los Cabos. Ground Transportation 2.7 •Par
Slide 28: 2012 Commercial Revenue Evolution
$250 2012 Commercial Revenue Evolution $200 $194 $170 2011 2012 $150 Millions Pesos $100 $92 $92 $86 $86 $82 $82 $79 $80 $74 $76 $71 $69 $64 $54 $59 $50 $45 $48 $24 $21 $21 $20 $11 $12 $8 $1 $0 $0 *Include: Financial Services (Banks, ATM, Money Exchange), Internet and Telephones. Page 28
Slide 29: Main 4 Airports Represented 87% of commercial revenues in 2012
Main 4 Airports Represented 87% of commercial revenues in 2012 Revenue by Business Unit 2012 FBO VIP Lounges 2.1% 1.2% Convenience Store Commercial Revenues Share 2012 0.1% Services* 2.2% Ground Transportation 5.1% Others Other Parking 13% Revenues 20.7% 6.3% Off Tijuana Terminal Guadalajara 11% Rev
Slide 30: Commercial Revenue Ratios 2012
Commercial Revenue Ratios 2012 Ratio: Revenue per Total Passenger Revenue per Total Passenger Los Mochis $15.3 50.0 $44.0 45.0 La Paz $19.4 40.0 $38.8 $36.7 $36.5 Hermosillo $23.2 35.0 $31.6 Mexicali $25.5 30.0 $26.6 $24.9 25.0 $23.5 Morelia $25.6 $20.5 20.0 Tijuana $27.5 $15.4 15.0 $10.5 Manzanillo
Slide 31: IV. Short-Term Strategies
IV. Short-Term Strategies
Slide 32: Aeronautical Revenues: Strategies for 2013
Aeronautical Revenues: Strategies for 2013 To Open Southwest will open two new routes: Los Cabos - Denver and Los Cabos - Austin Spirit Airlines announced that it will be opening route from Los Cabos – Dallas New during June 13. Routes WestJet will begin operations to Vancouver during November
Slide 33: Non-Aeronautical Revenues: Strategies for 2013 (Part 1)
Non – Aeronautical Revenues: Strategies for 2013 (Part 1) Development of Increase the scope of our advertising customers from simple billboards into below-the-line campaigns, products introductions, and electronic media inside Advertising the airport. services Optimize the inventory of static ad
Slide 34: Non-Aeronautical Revenues: Strategies for 2013 (Part 2)
Non – Aeronautical Revenues: Strategies for 2013 (Part 2) Increase knowledge of Continuous surveys and studies to determine which brands are more attractive Our for each type of passenger. Analyze consumer behavior to place the right product at the right moment at our customers major airports.
Slide 35: V. Medium and Long-Term Strategies
V. Medium and Long-Term Strategies 2013 - 2015
Slide 36: Strategic Axis 2013 - 2015
Strategic Axis 2013 - 2015 1. Drive consumption 7. Streamline 2. Maximize passenger own processes businesses Strategic Axis 2011-2015 6. Strengthen 3. Develop sales control sales systems channels 4. Develop 5. business Renegotiate opportunities contracts outside terminals Page 36
Slide 37: Strategic Axis 2013 - 2015
Strategic Axis 2013 - 2015 Axis Objective Strategic lines 1.1 Bring in well-known retail and F&B lines 1.2 Consistently review and adapt trademark branding to make Increase commercial tenant sales to raise sure they cater to customer preferences 1. Drive consumption GAP revenues through the share 1.
Slide 38: Strategic Axis 2013 - 2015
Strategic Axis 2013 - 2015 Axis Objective Strategic lines 3.1 Develop website with sales capabilities 3.2 Sell proprietary products online (VIP lounges and parking services) 3.3 Negotiate commercial agreements with GDSs (Sabre and Develop proprietary sales channel to Amadeus) to sell reservations fe
Slide 39: Strategic Axis 2013 - 2015
Strategic Axis 2013 - 2015 Axis Objective Strategic lines 5.1 Renegotiate Duty Free contracts with new share principles and minimum product requirements Renegotiate key contracts based on new 5.2 Renegotiate food and beverage agreements with single 5. Renegotiate contracts market conditions operator
Slide 40: V.1 Drive Consumption / Renegotiate Contracts
V.1 Drive Consumption / Renegotiate Contracts
Slide 41: Drive Consumption
Drive Consumption •We are expecting added growth, particularly in the airports of Tijuana, Los Cabos, Guanajuato, Morelia and Guadalajara. •In Guadalajara, specifically, we have already begun working on projects to increase capacity in terminals and aprons to accomodate the expected growth in the co
Slide 42: Well-Known Brands
Well – Known Brands •Hermosillo •Tijuana Page 42
Slide 43: V.2 Maximize Own Business
V.2 Maximize Own Business
Slide 44: 6.1 Parking: Historical Revenue
6.1 Parking: Historical Revenue Historical Revenue in Parking Lots 215 193.5 195 169.6 175 161.5 163.9 155 142.8 132.0 135 Millones 115 107.0 95 75 55 Ratio Revenue / Depart PAX $20.00 35 $18.23 2006 2007 2008 2009 2010 2011 2012 $18.00 $16.84 $16.24 $16.00 $14.57 $14.87 $14.00 $12.00 $11.32 $10.60
Slide 45: 6.1 Parking: New Marketing Strategies: 4 x 400
6.1 Parking: New Marketing Strategies: “4 x 400” Page 45
Slide 46: 6.1 Parking: New Marketing Strategies: Vete de Fin
6.1 Parking: New Marketing Strategies: “Vete de Fin” Andares Mall Page 46
Slide 47: 6.1 Parking: New Marketing Strategies: Vete de Fin
6.1 Parking: New Marketing Strategies: “Vete de Fin” Airport Andares Mall Page 47
Slide 48: 6.1 Advertising: Advertising Performance
6.1 Advertising: Advertising Performance $90.00 $80.00 $76.21 $70.00 $60.00 $54.03 $50.00 $46.40 Million Pesos $40.00 $36.38 $37.31 $36.10 $30.00 $19.77 $20.00 $17.23 $15.05 $10.00 $4.58 $6.06 $3.66 $0.00 2007 2008 2009 2010 2011 2012 Advertising Revenue Doubtful Accounts Advertising EBITDA Margin w
Slide 49: 6.1 Advertising: Advertising Performance
6.1 Advertising: Advertising Performance Page 49
Slide 50: 6.3 VIP Lounges Total Users
6.3 VIP Lounges Total Users 8,000 AIRPORT 2012 7,000 VIP Lounges EBITDA Margin 873 SJD 24,794 was 61.08% in 2012 806 GDL 22,940 632 6,000 PVR 8,203 1,176 1,731 HMO 1,438 1,353 HMO 5,000 839 TOTAL 59,387 866 PVR 943 705 754 4,000 GDL 301 1,845 609 657 2,694 SJD 2,511 2,504 3,000 1,748 2,001 2,266 2,1
Slide 51: 6.3 VIP Lounges Total Users at VIP Lounges
6.3 VIP Lounges Total Users at VIP Lounges 25 19.8 20 15 Millones 10 7.8 7.7 7.7 5.9 6.3 6.2 5 0 $2.00 Ratio Ratio / Depart PAX $1.87 2006 2007 2008 2009 2010 2011 2012 $1.80 $1.60 $1.40 $1.20 VIP Lounges EBITDA Margin $1.00 $0.82 $0.77 $0.77 was 61.08% in 2012 $0.80 $0.59 $0.54 $0.56 $0.60 $0.40 $0
Slide 52: 6.3 VIP Lounges Guadalajara Airport
6.3 VIP Lounges Guadalajara Airport Page 52
Slide 53: 6.3 VIP Lounges Los Cabos Terminal 1
6.3 VIP Lounges Los Cabos Terminal 1 Page 53
Slide 54: 6.3 VIP Lounges Los Cabos Terminal 2
6.3 VIP Lounges Los Cabos Terminal 2 Page 54
Slide 55: 6.3 VIP Lounges Los Cabos Terminal 2
6.3 VIP Lounges Los Cabos Terminal 2 Page 55
Slide 56: 6.3 VIP Lounges Hermosillo Airport
6.3 VIP Lounges Hermosillo Airport Page 56
Slide 57: 6.3 VIP Lounges Hermosillo Airport
6.3 VIP Lounges Hermosillo Airport Page 57
Slide 58: 6.3 VIP Lounges Tijuana Airport: Renders
6.3 VIP Lounges Tijuana Airport: Renders Page 58
Slide 59: 6.4 Convenience Stores
6.4 Convenience Stores •SJD Convenience Store EBITDA Margin was 51.77% in 2012 Page 59
Slide 60: VII. New Terminal 2 at SJD
VII. New Terminal 2 at SJD
Slide 61: Terminal 2 SJD
Terminal 2 SJD Playas 8.00% CAGR 99 VS 12 7.01% 6.01% 6.00% 5.13% 4.00% 2.86% 2.00% 1.63% 1.42% 0.00% Los Cabos* Cancún Veracruz Huatulco Puerto La Paz* Cozumel Manzanillo* Mazatlán Zihuatanejo Acapulco Vallarta* -1.03% -2.00% -1.62% -1.90% -4.00% -3.37% -6.00% -5.43% -8.00% Page 61
Slide 62: Terminal 2 SJD: Commercial Revenue per Passenger
Terminal 2 SJD Commercial CommercialRevenue perPassenger Revenue per Passenger $90 $90 $81.3 $81.3 In 2013, we expect to achieve a ratio $80$80 of Ps. 90 in revenues per passenger $70$70 $62.5 $62.5 $63.1 $63.1 at SJD – the highest ratio found in $60.1 $60.1 31% $60$60 the entire Mexican airport net
Slide 63: Terminal 2 SJD: Recent Openings - Food and Beverage
Food and Beverage Terminal 2 SJD: Recent Openings Page 63
Slide 64: Terminal 2 SJD: Recent Openings - Duty Free
Duty Free Terminal 2 SJD: Recent Openings Page 64
Slide 65: VIII. Cross Border Terminal - Tijuana
VIII. Cross Border Terminal - Tijuana
Slide 66: Proximity to Border and L.A.
Proximity to Border and L.A. •60 meters of the U.S. / Mexico border / 204 km from Los Angeles Page 66
Slide 67: Two Nearby Border Crossings to U.S
Two Nearby Border Crossings to U.S San Ysidro - 5 kms. / Otay Mesa almost 3.5 kms Page 67
Slide 68: Total Annual Passengers
Total Annual Passengers …from Southern California Counties to interior Mexico – Traveling via TIJ Airport Only – 2010 (Calibrated – Southbound Originating + Northbound Returning) Percentage Breakdown of TIJ 2010 Passengers by Southern California County Point Of Sale Page 68
Slide 69: Projected Users of Potential Cross Border Facility
Projected Users of Potential Cross Border Facility Base Year 2010 Short-Term: • The new cross – border facility will be completely dedicated to airport users and will connect the airport and the facility by a bridge • In an hypothetical analysis of the Cross Border Facility, traffic would increase 1
Slide 70: Forward-looking statements disclaimer (Spanish)
Este documento puede contener en las declaraciones ciertas estimaciones. Estas declaraciones son hechos no históricos, y se basan en la visión actual de la administración de GAP de las circunstancias económicas futuras, de las condiciones de la industria, el desempeño de la com pañía y resultados fi
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