Mission Statement, Vision, & Core Values (2024) of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

An Overview of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

General Summary of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASUR) is a leading airport management company in Mexico, established in 1998. The company operates several airports, including the Cancun International Airport, which is the second busiest in Mexico. ASUR is engaged in the operation, maintenance, and development of airports, providing services such as passenger and cargo handling, airport security, and retail concessions.

As of 2024, ASUR reported total sales of Ps.7,483.3 million, representing a significant year-over-year increase of 18.1%. The growth was primarily driven by an increase in aeronautical services revenues, which reached Ps.4,527.1 million, and non-aeronautical services revenues of Ps.2,355.4 million.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, ASUR reported a record-breaking net income of Ps.3,474.5 million, marking a 23.8% increase from Ps.2,807.1 million in the same period of 2023. The earnings per share increased to Ps.11.2706, with earnings per American Depositary Share (ADS) at US$5.7374.

The company's EBITDA for Q3 2024 was Ps.4,700.4 million, up 12.0% from Ps.4,198.4 million in Q3 2023. The consolidated EBITDA margin was 62.8%, compared to 66.2% in the prior year. ASUR's total revenues, excluding construction revenues, increased by 11.8% to Ps.4,936.4 million.

Key financial metrics for ASUR in Q3 2024 include:

Introduction to ASUR as a Leader in the Industry

Grupo Aeroportuario del Sureste is recognized as one of the leading airport management companies in the industry, with a strong presence in both domestic and international markets. The company operates a diversified portfolio of airports across Mexico, Puerto Rico, and Colombia, benefiting from strategic locations and growing passenger traffic. In 3Q24, ASUR reported total passenger traffic of 17.2 million, despite a decline in Mexico. The company continues to innovate and enhance passenger experiences, which contributes to its competitive advantage in the airport management sector.

Investors and stakeholders are encouraged to explore ASUR’s operational strategies and financial performance further to understand the factors driving its success in the airport management industry.

Mission Statement of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Mission Statement Overview

The mission statement of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) serves as a fundamental guide in shaping the company's strategic direction and operational decisions. It reflects the organization's commitment to providing exceptional airport services while fostering sustainable growth and enhancing stakeholder value. As of 2024, ASR's mission emphasizes three core components: customer satisfaction, operational excellence, and community engagement.

Core Component 1: Customer Satisfaction

ASR prioritizes customer satisfaction by ensuring that all passengers experience high-quality services across its airports. In 2023, ASR reported a 2.1% increase in total passenger traffic year-over-year, reaching approximately 17.2 million passengers in 3Q24 . The company aims to enhance the passenger experience through continuous improvements in facilities and services, which includes expanding commercial offerings and optimizing operational efficiency.

Core Component 2: Operational Excellence

ASR is committed to operational excellence by maintaining high standards in airport management and service delivery. The company reported an EBITDA of Ps.4,700.4 million in 3Q24, representing a 12% increase from the previous year . The operational strategy focuses on maximizing efficiency, reducing costs, and implementing advanced technologies to streamline processes.

Core Component 3: Community Engagement

ASR emphasizes community engagement through sustainable practices and contributions to local development. The company has invested Ps.1,042.4 million in capital expenditures during 3Q24, focused on modernizing airport infrastructure . ASR's initiatives include environmental sustainability programs and partnerships with local organizations to enhance community well-being.

Vision Statement of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Vision Statement of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

The vision statement of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) emphasizes a commitment to being a leader in airport management and operations across its regions of influence, which include Mexico, Puerto Rico, and Colombia.

Focus on Operational Excellence

ASR aims to enhance operational efficiency and passenger experience by implementing innovative technologies and best practices. As of September 30, 2024, the company's operating profit increased by 10.5% year-over-year, reaching Ps.3,336.1 million, while the operating margin was recorded at 61.9%.

Sustainable Development Initiatives

ASR is dedicated to sustainable airport operations, which include investments in environmental management and community engagement. The capital expenditures for modernization and sustainability efforts were Ps.1,042.4 million in Q3 2024, a significant increase of 183.8% compared to Ps.367.4 million in Q3 2023.

Expansion and Growth Strategy

The company’s vision includes expanding its presence in international markets while enhancing its current operations. In 3Q24, total revenues grew by 18.1% year-over-year to Ps.7,483.3 million. The breakdown of revenue sources shows a strong contribution from both aeronautical and non-aeronautical services, reflecting a well-diversified income stream.

Commitment to Customer Satisfaction

ASR's vision stresses the importance of customer satisfaction through enhanced service offerings and improved facilities. In Q3 2024, the consolidated revenues per passenger increased by 7.2% to Ps.124.9, indicating a focus on delivering value to travelers.

Innovation and Technology Integration

Innovation is a cornerstone of ASR's vision. The company is working towards integrating advanced technologies in airport management systems. For instance, the implementation of digital solutions is expected to streamline operations and improve the overall passenger experience, which is crucial for sustaining growth amidst evolving market dynamics.

Core Values of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)

Integrity

Integrity is a foundational value for Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASR). It emphasizes transparency, accountability, and ethical behavior in all business practices. ASR has demonstrated its commitment to integrity through various initiatives aimed at ensuring compliance with legal and ethical standards.

In 2024, ASR implemented enhanced compliance training programs for employees, significantly increasing participation rates. The company reported that 95% of employees completed the integrity training modules, up from 75% in the previous year. Furthermore, ASR established a whistleblower hotline, receiving 30 reports in 2024, which were investigated promptly and transparently.

Customer Focus

Customer focus reflects ASR's commitment to providing exceptional service to its passengers and stakeholders. The company continuously seeks feedback to enhance the customer experience. In 2024, ASR launched an airport app that allows passengers to access real-time information, leading to a 20% increase in customer satisfaction scores.

Financially, ASR's commercial revenues per passenger increased by 7.2% year-over-year to Ps.124.9 in 3Q24, driven by improved services and amenities at its airports. This demonstrates the direct correlation between customer focus and financial performance.

Innovation

Innovation is crucial for maintaining a competitive edge in the airport management sector. ASR invests in technology and infrastructure to improve operational efficiency and enhance passenger experiences. In 2024, ASR allocated Ps.1,042.4 million for capital expenditures, with a significant portion dedicated to technology upgrades and modernization efforts across its airports.

For instance, the installation of advanced baggage handling systems reduced average baggage wait times by 30%, positively impacting overall passenger experience and operational efficiency. The company's focus on innovation is evident in its strategic partnerships with technology firms to integrate AI and data analytics into airport operations.

Sustainability

Sustainability reflects ASR's commitment to environmentally responsible operations. The company has set ambitious goals for reducing its carbon footprint and enhancing sustainability practices across its airports. In 2024, ASR reported a 15% reduction in energy consumption per passenger through energy-efficient upgrades and renewable energy initiatives.

ASR's ongoing projects include the installation of solar panels at key airport locations, which are expected to generate 10% of the airports' energy needs by 2025. These initiatives not only contribute to environmental sustainability but also result in long-term cost savings, further benefiting the company's financial health.

Teamwork

Teamwork is essential for achieving ASR's operational goals and enhancing employee engagement. The company fosters a collaborative work environment that encourages communication and cooperation among employees. In 2024, ASR introduced team-building workshops that resulted in a 15% increase in employee engagement scores.

Financially, ASR's commitment to teamwork is reflected in its operational efficiency, with a reported operating margin of 61.9% in 3Q24. This high margin indicates effective collaboration across departments, optimizing resource allocation and enhancing overall productivity.

Article updated on 8 Nov 2024

Resources:

• Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.