Grupo Aeroportuario Del Pacifico Sab De Cv Class B · BMV:GAP/B

Grupo Aeroportuario Del Pacifico Sab De Cv Class B — Investor Presentation (January 2013)

34 slides from Grupo Aeroportuario Del Pacifico Sab De Cv Class B's investor presentation, January 2013

  1. Slide 1: Corporate Presentation Jan 2013

    Corporate Presentation Jan 2013

  2. Slide 2: Airport Geographic Presence

    Airport Geographic Presence Tijuana Mexicali Ciudad Juárez Hermosillo Chihuahua Los Mochis Monterrey Reynosa Torreón La Paz Culiacán Durango Mazatlán Zacatecas Los Cabos Mérida SLP Tampico Cancún Aguascalientes Puerto Guadalajara Bajío Cozumel Vallarta Mexico City Airport Veracruz GAP 12 Manzanillo

  3. Slide 3: The 10 largest airports in México

    The 10 largest airports in México Airport Terminal Group %Part. Passengers 5 out of the 10 2012 largest Airports in (millions) the country are managed México DF 29.5 Government 35.3 GAP Cancún 14.5 ASUR 17.3 Guadalajara 7.4 GAP 8.9 Passengers Monterrey 6.1 OMA 7.3 Tijuana 3.8 GAP 4.5 In 2012 (millio

  4. Slide 4: Historic Passengers

    Historic Passengers 25.00 23.6 22.3 22.5 21.3 20.5 20.2 20.2 20.00 19.1 19.3 17.5 16.2 16.4 16.2 16.4 15.3 15.00 Passengers (Millions) 10.00 5.00 0.00 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E FACTORS: 2006 – 2007 - Low Cost Carrier Effect / Price Wars 2008 – 2009

  5. Slide 5: 2012 Traffic Overview: 79% at 4 airports

    2012 Traffic Overview: 79% at 4 airports Passengers Share Passengers Traffic Composition Guanajuato 4% Others 11% Hermosillo 6% Guadalajara International Puerto 35% 34% Vallarta 12% Domestic 66% Los Cabos Tijuana 18% 14% 5

  6. Slide 6: Dec 2012 Traffic

    Dec 2012 Traffic Domestic International Total Dec-12 Airport %Airport Mar-11 Dec-11 Change Jan-Dec Mar-12 Dec-12 11 Jan-Dec %Airport 12 %% Var ChangeJan-Mar Change 11 Jan-Dec 11Jan-Mar Dec-11 12 12 %%Var Jan-Dec Dec-12 Change % Change Jan-Dec 11 Jan-Dec 12 % Change Guadalajara5.6% Guadalajara 449.8

  7. Slide 7: Total Passenger Share 2012

    Total Passenger Share 2012: Total traffic dominated by Volaris & Aeromexico Total Passenger Share Group Sunwing 0.9% Magnicharters 1.1% Frontier 0.7% West Jet 1.4% OTROS Delta 1.8% 5.3% 3.3% 4.0% 5.4% 33.1% 5.6% 6.7% 20.9% 9.8% 7

  8. Slide 8: Domestic Traffic: 2012 was dominated by Volaris and Aeromexico Group

    Domestic Traffic: 2012 was dominated by Volaris and Aeromexico Group Domestic Traffic Magnicharters 1.7% OTROS 1.9% 8.5% 15.0% 44.0% 28.9% 8

  9. Slide 9: International Traffic 2012 dominated by United

    International Traffic 2012 dominated by United International Traffic Air Transat 1.8% Frontier 1.9% OTROS 10.0% 2.5% 4.2% 19.6% 5.2% 5.5% 15.8% 9.7% 12.0% 11.7% 9

  10. Slide 10: Mexican Carriers estimated Fleet Growth

    Mexican Carriers estimated Fleet Growth 2007 Aug 2012 2013 E Seats Aircrafts Seats Aircrafts Seats Aircrafts Seats 2007 vs 2012 Aircrafts Seats 2012 vs 2007 -33.7% -31.9% 2013 vs 2007 -23.3% -20.2% 10

  11. Slide 11: Historic Revenue Mix

    Percentage Millions of Pesos 91.8% 8.2% 1,757 157 2000 2000 90.2% 9.8% 1,793 195 2001 2001 88.6% 11.4% 1,701 220 2002 2002 85.0% 15.0% 1,820 322 2003 2003 82.4% 17.6% 2,014 430 2004 2004 81.5% 18.5% 2,281 517 2005 2005 81.4% 18.6% 2,480 566 2006 2006 80.9% 19.1% 2,813 664 2007 2007 79.1% 20.9% 2,762

  12. Slide 12: Revenue by Business Unit

    Revenue by Business Unit 9M12 Commercial Revenue Split Retail, 7.9% Duty Free, 9M12 Aeronautical Revenue Split 17.3% Advertising, 7.0% Food and Beverage, 8.3% Timeshare, 8.6% Financial Srvcs, 1.5% Landing charges, Car rentals, 8.1% 3.9% Communicat., 0.5% Leasing Car Leasing VIP Aircraft parking, of

  13. Slide 13: 9M12 Results

    9M12 Results 9M11 9M12 Change Aeronautical Serv ices 2,262,780 2,505,518 10.7% Non aeronautical serv ices 589,990 742,420 25.8% Total Revenues 2,852,771 3,247,938 13.9% Cost of serv ices 743,324 754,553 1.5% Operating Income 1,332,487 1,597,696 19.9% EBITDA 2,109,447 2,493,385 18.2% Net income and c

  14. Slide 14: 9M12 Results (cont)

    9M12 Results (cont) 9M11 9M12 Change Total passengers 14,998.7 15,869.4 5.8% Total cargo v olume (in W LUs) 1,142.4 1,188.2 4.0% Total W orkload Units 16,141.2 17,057.5 5.7% Aeronautical & non aeronautical serv ices per passenger (Pesos) 190.2 204.7 7.6% Aeronautical serv ices per W LU (Pesos) 140.2

  15. Slide 15: 2010-2014 Committed CAPEX Plan by Airport

    2010-2014 Committed CAPEX Plan by Airport Original MDP In million pesos as of December 31, 2012 Airport 2010 2011 2012 2013 2014 2010-2014 Guadalajara 131.6 253.8 178.6 270.9 220.8 1,055.8 Tijuana 124.6 215.8 35.2 10.7 4.4 390.6 Los Cabos 194.8 441.0 247.6 49.0 39.7 972.0 Puerto Vallarta 146.0 240.3

  16. Slide 16: 2013 CAPEX Plan (MDP)

    2013 CAPEX Plan (MDP) (Millions of Pesos ) Aguascalientes Puerto Vallarta Guadalajara Guanajuato Los Mochis Manzanillo CONCEPT Los Cabos Hermosillo Mexicali Tijuana TOTAL Morelia La Paz Runw ays, aprons and taxi w ays 128.59 31.82 12.40 10.07 6.71 29.54 219.13 Expansion and rehabilitation of buildin

  17. Slide 17: Corporate Structure

    Corporate Structure Total Shares: 561,000,000 Series BB (AMP): 84,150,000 Series B (Free Float): 476,850,000 Gmexico ADR´s 161,236,965 96,286,050 28.7% 17.2% Treasury 30,279,400 AMP 5.4% BMV 84,150,000 189,047,585 15.0% 33.7% 17

  18. Slide 18: Medium and Long Term Profitability

    Medium and Long Term Profitability EBITDA MARGIN Mexican Airport Groups Cost of Service per 80% WLU´s 100.00 70% 90.00 60% 80.00 Pesos per WLU´s 50% 70.00 40% 60.00 % 50.00 30% 40.00 20% 30.00 10% 20.00 10.00 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 0.00 2003 2004 2005 2006 2007 2008 2009 201

  19. Slide 19: Medium and Long Term Profitability: ROA and ROE

    Medium and Long Term Profitability ROA (excluding the concession ROE (excluding the concession value value only) only) 16% 18% 14% 16% 12% 14% Título del eje 10% 12% 10% 8% % 8% 6% 6% 4% 4% 2% 2% 0% 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2003 2004 2005 2006 2007 2008 2009 2010 2011 GAP 5% 6

  20. Slide 20: Dividend policy

    Dividend policy  GAP’s dividend policy remains the same: • GAP paid all the excess cash above the “minimum cash balance” (MCB). • Historically, MCB has been calculated trying to keep in the company two months of OPEX and the amount needed to fulfill the committed CAPEX. • Since 2007, GAP has been l

  21. Slide 21: Dividend policy

    Dividend policy FY08 FY09 FY10 FY11 (in thousands of pesos, except those items indicated) (payable in (payable in (payable in (payable in % Chg 2009) 2010) 2011) 2012) ** Total dividend 1,200,000 1,000,000 1,035,117 1,130,000 9% Total Proposed return on equity - 870,000 100% Total payout 1,200,000 1

  22. Slide 22: Puerto Vallarta Satellite Terminal & apron expansion

    Puerto Vallarta International Airport Satellite Terminal & apron expansion 2011-2012 • Remarks • Total Investment: PS$140 Million • New built area: 6,100 sqm • 4 new boarding bridges • 3 new “D” stands 22

  23. Slide 23: Los Cabos International Airport New Terminal

    Los Cabos International Airport New Terminal 2 (2007)/ 2011-2012 • Remarks • Total investment: PS$750 million $280 million invested in 2007 + 470 million in 2011-2012 • Terminal area: 35,000 sqm – New Terminal – High voltage power station – Parking and roads – 4 boarding bridges 23

  24. Slide 24: Tijuana Main Terminal building expansion

    Tijuana International Airport Main Terminal building expansion 2010-2012 • Remarks • Total investment: PS$ 190 million • New built area: 7,100 sqm • Upgraded area: 9,900 sqm 24

  25. Slide 25: TIJ. Cross Border Facility

    TIJ. Cross Border Facility GEOGRAPHICAL SITUATION • Tijuana airport is close to the U.S. border, less than 3 hours car-trip to main origin cities in the U.S.A. AIR TRAFFIC SITUATION • San Diego is a congested airport • Tijuana airport is operating at about 60% of its capacity • 59.1 % of Tijuana pas

  26. Slide 26: Southbound Originating Plus Northbound Returning Passengers via TIJ

    Total Annual Calibrated - Southbound Originating Plus Northbound Returning Passengers from Southern California Counties to Interior Mexico - Traveling via TIJ Airport Only – (2010 data) Percentage Breakdown of TIJ 2010 Passengers by Southern California County Point Of Sale 26

  27. Slide 27: Tijuana airport located within 60 meters of the border

    The Tijuana airport is located within 60 meters of the U.S./Mexico border and is only 204 kilometers from Los Angeles 27

  28. Slide 28: Tijuana airport served by two nearby border crossings

    The Tijuana airport is served by two nearby border crossings to the US: San Ysidro is located 5 kms. from Tijuana and Otay Mesa is almost 3.5 kms. 28

  29. Slide 29: TIJ. Cross Border Facility

    TIJ. Cross Border Facility August 3 2010: A presidential permit was issued authorizing Otay - Tijuana Venture L.L.C. to construct, operate and maintain an international pedestrian bridge, called San Diego – Tijuana Airport Cross Border Facility. Access to the bridge will be granted only for TIJ arri

  30. Slide 30: TIJ. Cross Border Facility

    TIJ. Cross Border Facility Airport infrastructure investment will be about 15 USD million. GAP is available to perform the investment if some way to recover it is agreed Quality of Service for current passengers will increase dramatically. • Time • Movement facility • Cost New options and connection

  31. Slide 31: Projected Users of Hypothetical Cross Border Facility

    Projected Users of Hypothetical Cross Border Facility Base Year 2010 • Short Term: • The new cross – border facility will be completely dedicated to airport users and it will connect the airport and the facility by a bridge • In an hypothetical analysis of the Cross Border Facility, the Traffic woul

  32. Slide 32: 2010-2014 Maximum Rates

    2010-2014 Maximum Rates 2010 2011 2012 2013 2014 Guadalajara 112.00 111.22 110.44 109.66 108.90 Notes: Information as of the end of each year, Tijuana 99.18 98.49 97.80 97.11 96.43 expressed in constant pesos as of Dec. 31, 2007. Puerto Vallarta 137.91 136.94 135.99 135.03 134.09 Efficiency factor f

  33. Slide 33: 2013 Guidance and Summary

    2013 Guidance and Summary TRAFFIC: Estimated increase of between 4.5% to 5.5% REVENUES: Aeronautical revenue growth between 6% to 7%; Non-aeronautical revenue growth between 10.5% to 13.5%*** with an increase in Commercial Revenue between 11.5% and 13.5%, Total revenue growth between 7% to 8.5% **

  34. Slide 34: 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 compañía y resultados fin

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