Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR): Business Model Canvas [10-2024 Updated]
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Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) Bundle
Discover the dynamic business landscape of Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR), a leader in airport management and operations. This blog post delves into ASR's Business Model Canvas, highlighting key elements such as their strategic partnerships, revenue streams, and customer segments. Learn how ASR enhances passenger experiences while optimizing operational efficiency in the competitive aviation industry. Read on to uncover the intricacies of their business model and what sets them apart in the market.
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Key Partnerships
Collaborations with airlines and travel agencies
Grupo Aeroportuario del Sureste (ASR) maintains strategic partnerships with various airlines and travel agencies to enhance passenger traffic and optimize airport operations. Notably, the airport group collaborates with major airlines such as Aeroméxico, American Airlines, and United Airlines. In 3Q24, ASR reported a total passenger traffic of 17.2 million, with specific contributions from airlines leading to a revenue increase of 18.1% YoY, amounting to Ps.7,483.3 million.
Partnerships with construction firms for airport development
ASR partners with leading construction firms to facilitate the development and expansion of its airport infrastructure. In 3Q24, capital expenditures reached Ps.1,042.4 million, reflecting a significant investment in modernization projects across its airports. These partnerships are crucial for maintaining competitive airport facilities that meet increasing passenger demands and regulatory standards.
Agreements with retailers and service providers in airports
ASR has established agreements with a variety of retailers and service providers to enhance non-aeronautical revenues. In 3Q24, commercial revenues increased by 5.0% YoY to Ps.2,180.2 million, driven by improved retail performance, with commercial revenues per passenger rising to Ps.124.9. The company actively seeks to diversify its offerings, including food and beverage, retail shops, and duty-free services, to maximize revenue opportunities within its airports.
Alliances with local governments and regulatory bodies
ASR collaborates closely with local governments and regulatory bodies, ensuring compliance with aviation regulations and supporting regional economic development initiatives. The Mexican Ministry of Communications and Transportation regulates ASR's activities, setting maximum tariff rates, which represented approximately 68.7% of total income in Mexico as of September 30, 2024. These alliances are vital for maintaining operational standards and fostering community relations.
Partnership Type | Key Partners | Impact on Revenue (3Q24) | Investment (Capex 2024) |
---|---|---|---|
Airlines | Aeroméxico, American Airlines, United Airlines | Ps.7,483.3 million (Total Revenue) | N/A |
Construction Firms | Various local and international construction firms | N/A | Ps.1,042.4 million |
Retailers/Service Providers | Food and beverage chains, duty-free retailers | Ps.2,180.2 million (Commercial Revenues) | N/A |
Local Governments/Regulatory Bodies | Mexican Ministry of Communications and Transportation | N/A | N/A |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Key Activities
Management of airport operations and services
Grupo Aeroportuario del Sureste (ASR) operates a portfolio of airports, primarily in Mexico, Puerto Rico, and Colombia. As of September 30, 2024, ASR reported total revenues of Ps.5,386.4 million for the third quarter, representing a 17.1% increase year-over-year. The company’s operating profit for the same period was Ps.3,336.1 million, with an operating margin of 61.9%. The majority of these revenues stem from aeronautical services, which accounted for Ps.3,321.1 million, reflecting a 19.3% increase. ASR's operations are heavily regulated, with the Mexican Ministry of Communications and Transportation overseeing tariff rates, which averaged Ps.311.3 per workload unit.
Development and construction of airport infrastructure
ASR continues to invest significantly in airport infrastructure. In the third quarter of 2024, capital expenditures reached Ps.1,042.4 million, a substantial increase from Ps.367.4 million in the same period of the previous year. Of this amount, Ps.876.7 million was allocated to modernizing Mexican airports, as part of their master development plans aimed at enhancing operational efficiency and customer experience. The total accumulated capital expenditures for the first nine months of 2024 amounted to Ps.1,861.8 million.
Customer service and passenger experience enhancements
ASR has made concerted efforts to enhance customer service and passenger experience across its airports. In 3Q24, commercial revenues per passenger rose to Ps.124.9, up from Ps.116.5 in 3Q23, marking a 7.2% increase. The company has also expanded its commercial offerings, with total commercial revenues reaching Ps.2,180.2 million, indicating a 5.0% year-over-year increase. ASR's focus on customer-centric services includes various passenger amenities, improving overall satisfaction and operational efficiency.
Maintenance of safety and security protocols
Safety and security remain paramount in ASR’s operations. The company adheres to stringent safety protocols as mandated by aviation authorities. In the third quarter of 2024, ASR reported a consolidated operating cost increase of 27.3% year-over-year, driven partly by higher costs associated with safety and security measures. Such measures include enhanced surveillance and cleaning services, which are critical to maintaining operational integrity and passenger confidence. The company’s commitment to safety is reflected in its low accident rates, ensuring compliance with both local and international regulations.
Key Activity | Financial Impact (Ps.) | Year-over-Year Change (%) | Notes |
---|---|---|---|
Airport Operations Revenue | 3,321.1 million | 19.3% | Significant growth in aeronautical services revenue |
Capital Expenditures | 1,042.4 million | 183.8% | Investment in airport modernization |
Commercial Revenues per Passenger | 124.9 | 7.2% | Increase in passenger spending |
Consolidated Operating Costs | 3,386.1 million | 27.3% | Includes safety and security expenses |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Key Resources
Airport infrastructure and facilities
Grupo Aeroportuario del Sureste (ASR) operates several key airports, primarily in Mexico, Puerto Rico, and Colombia. As of September 30, 2024, airport concessions represented 67.2% of ASR's total assets. The company reported total revenues of Ps.5,386.4 million for the third quarter of 2024, reflecting an increase of 17.1% year-on-year.
Airport | Location | Passenger Traffic (3Q24) | Aeronautical Revenues (3Q24) |
---|---|---|---|
Cancún International Airport | Cancún, Mexico | 10,800,000 | Ps.3,321.1 million |
San Juan International Airport | Puerto Rico | 3,317,000 | Ps.557.8 million |
José María Córdova International Airport | Colombia | 4,314,938 | Ps.648.2 million |
Skilled workforce and management team
ASR's operational efficiency is supported by a skilled workforce and an experienced management team. The company has emphasized training and development programs, ensuring that employees are well-equipped to handle the complexities of airport operations. As of 2024, ASR reported a total workforce of approximately 3,500 employees across its operations in Mexico, Puerto Rico, and Colombia.
Financial resources and investment capabilities
As of September 30, 2024, ASR had cash and cash equivalents amounting to Ps.18,483.6 million, representing a 33.2% increase from Ps.13,872.9 million at the end of 2023. The company's total debt was Ps.12,630.4 million, with a debt-to-EBITDA ratio of 0.7x and a strong interest coverage ratio of 11.4x.
Financial Metric | Value (3Q24) |
---|---|
Cash and Cash Equivalents | Ps.18,483.6 million |
Total Debt | Ps.12,630.4 million |
Debt-to-EBITDA Ratio | 0.7x |
Interest Coverage Ratio | 11.4x |
Technological systems for operations and customer service
ASR employs advanced technological systems to optimize airport operations and enhance customer service. These systems include automated check-in kiosks, real-time flight tracking, and integrated management software for airport facilities. The company has invested significantly in technology, with capital expenditures reaching Ps.1,042.4 million in the first nine months of 2024, a 183.8% increase compared to the previous year.
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Value Propositions
Comprehensive airport services including aeronautical and non-aeronautical offerings
Grupo Aeroportuario del Sureste (ASR) provides a diverse range of services that encompass both aeronautical and non-aeronautical activities. In 3Q24, aeronautical services generated revenues of Ps.4,527.1 million, while non-aeronautical services contributed Ps.2,355.4 million. This revenue mix reflects ASR's commitment to offering integrated airport solutions, enhancing operational efficiency and customer satisfaction.
Enhanced passenger experience through modern facilities
ASR has invested significantly in modernizing airport facilities, with capital expenditures reaching Ps.1,042.4 million in 3Q24, a notable increase from Ps.367.4 million in the same quarter of the previous year. This investment aims to create a seamless passenger experience, with upgraded amenities and services at airports, contributing to improved passenger traffic figures, which totaled 17.2 million in 3Q24.
Competitive pricing in airport services
ASR maintains competitive pricing structures for its services, which is crucial for attracting airlines and passengers. The average tariff per workload unit in Mexico was recorded at Ps.311.3, representing approximately 68.7% of total income (excluding construction revenues). This pricing strategy is supported by a regulatory framework that sets maximum rates, ensuring affordability while maintaining service quality.
Strategic locations that facilitate travel and commerce
ASR operates strategically located airports that are pivotal in facilitating travel and commerce across Mexico, Puerto Rico, and Colombia. The consolidated revenues from these operations increased by 18.1% YoY to Ps.7,483.3 million in 3Q24. The company's focus on key geographical markets enhances its competitive edge, ensuring accessibility and connectivity for passengers and freight services.
Metric | Value (3Q24) | Value (3Q23) | % Change |
---|---|---|---|
Aeronautical Services Revenue | Ps.4,527.1 million | Ps.3,790.7 million | 19.4% |
Non-Aeronautical Services Revenue | Ps.2,355.4 million | Ps.2,242.5 million | 5.0% |
Total Revenue | Ps.7,483.3 million | Ps.6,038.9 million | 18.1% |
Passenger Traffic | 17.2 million | 16.8 million | 2.1% |
Capital Expenditures | Ps.1,042.4 million | Ps.367.4 million | 183.8% |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Customer Relationships
Loyalty programs for frequent travelers
Grupo Aeroportuario del Sureste (ASR) offers loyalty programs aimed at frequent travelers to enhance customer retention and satisfaction. The program allows members to earn points based on their travel frequency and spending, which can be redeemed for various benefits such as discounts on airport services and exclusive access to lounges. As of 2024, the loyalty program has recorded an increase in membership by 15% year-on-year, reaching a total of approximately 500,000 active members.
Customer service support through various channels
ASR provides customer service support through multiple channels including phone, email, and social media. The company's customer service team has received over 200,000 inquiries in 2024, with an average response time of 24 hours. ASR has also implemented a chatbot on its website to assist with frequently asked questions, which has improved customer satisfaction scores by 20% compared to the previous year.
Engagement through social media and online platforms
ASR actively engages with customers through its social media platforms, including Facebook, Twitter, and Instagram. The company has over 1.2 million followers across these platforms as of 2024. Engagement rates have increased by 30% due to regular updates, promotions, and interactive content aimed at travelers. ASR also utilizes email marketing to inform customers about flight updates, promotions, and loyalty rewards, achieving an open rate of 25% on its newsletters.
Feedback mechanisms to improve services
ASR has established feedback mechanisms to gather customer insights and improve services. Surveys are conducted post-travel, with a response rate of 35%. Results indicate a 90% satisfaction rate regarding airport cleanliness and facilities. Moreover, ASR has implemented changes based on feedback, including extended lounge hours and enhanced Wi-Fi services, which have been positively received by customers.
Metric | 2023 | 2024 | % Change |
---|---|---|---|
Loyalty Program Membership (active) | 435,000 | 500,000 | 15% |
Customer Inquiries Received | 180,000 | 200,000 | 11.1% |
Average Response Time (hours) | 30 | 24 | -20% |
Social Media Followers | 900,000 | 1,200,000 | 33.3% |
Email Open Rate (%) | 20% | 25% | 25% |
Customer Satisfaction Rate (%) | 85% | 90% | 5% |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Channels
Direct sales through airport services and facilities
Grupo Aeroportuario del Sureste (ASUR) generates substantial revenue from direct sales through its airport services and facilities. In the third quarter of 2024, the total revenues from aeronautical services reached Ps.4,527.1 million, with Mexico contributing Ps.3,321.1 million. The total commercial revenues per passenger increased to Ps.124.9, a 7.2% increase year-over-year.
Online platforms for booking and customer service
ASUR utilizes its online platforms for ticket booking and customer service, enhancing the customer experience. The company reported a consolidated total revenue of Ps.7,483.3 million in Q3 2024, marking an 18.1% increase from the previous year. Non-aeronautical revenues also saw a year-over-year growth, contributing significantly to online service offerings.
Partnerships with travel agencies for service promotions
ASUR actively partners with travel agencies to promote its airport services. These partnerships help in expanding their reach and enhancing service visibility. In Q3 2024, the company reported a 14.5% increase in commercial revenues from Puerto Rico, attributed to effective collaborations with travel agencies.
Marketing through social media and traditional advertising
ASUR employs a blend of social media and traditional advertising to market its services. In the third quarter of 2024, operating profit reached Ps.4,097.2 million, reflecting the effectiveness of its marketing strategies. The company also increased its capital expenditures to Ps.1,042.4 million in Q3 2024, further signifying investment in marketing and infrastructure.
Channel | Revenue (Q3 2024) | Year-over-Year Growth |
---|---|---|
Aeronautical Services | Ps.4,527.1 million | 19.4% |
Total Commercial Revenues per Passenger | Ps.124.9 | 7.2% |
Non-Aeronautical Services | Ps.2,355.4 million | 5.0% |
Consolidated Revenues | Ps.7,483.3 million | 18.1% |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Customer Segments
Domestic and international travelers
Grupo Aeroportuario del Sureste (ASUR) serves a diverse customer base of domestic and international travelers. In 3Q24, ASUR reported a total passenger traffic of 17.2 million, marking a 2.1% increase year-over-year. However, there was a notable decline of 10.1% in passenger traffic in Mexico, with 9.6 million passengers recorded, driven by a 12.6% drop in international traffic and an 8.0% decrease in domestic traffic. In contrast, Puerto Rico experienced a 4.6% increase in total passenger traffic to 3.3 million, with significant growth in international traffic at 20.7%.
Airlines and aviation service companies
ASUR collaborates with various airlines and aviation service companies to provide aeronautical services. In 3Q24, aeronautical services revenues reached Ps.4,527.1 million, with contributions from Mexico, Puerto Rico, and Colombia amounting to Ps.3,321.1 million, Ps.557.8 million, and Ps.648.2 million, respectively. The total revenues from aeronautical services increased by 19.4% year-over-year.
Retailers and service providers in airports
ASUR's airports host numerous retailers and service providers. In 3Q24, commercial revenues amounted to Ps.2,180.2 million, reflecting a 5.0% increase from the previous year. Notably, commercial revenue growth was driven by a 14.5% increase in Puerto Rico (Ps.505.4 million) and a 38.1% rise in Colombia (Ps.231.9 million), while Mexico experienced a slight decrease of 1.7% (Ps.1,442.9 million).
Local businesses and government agencies
ASUR engages with local businesses and government agencies, providing them with access to airport facilities and services. The company reported total revenues of Ps.7,483.3 million in 3Q24, an increase of 18.1% year-over-year. This growth is partly attributed to the company's strategic partnerships and collaborations with local stakeholders.
Customer Segment | Key Metrics | Revenue Contribution (Ps.) | Growth Rate (%) |
---|---|---|---|
Domestic Travelers | 9.6 million passengers | 1,442.9 million | -1.7 |
International Travelers | 7.6 million passengers | 2,737.2 million | -12.6 |
Airlines | Various airlines operating | 4,527.1 million | 19.4 |
Retailers | Numerous retailers | 2,180.2 million | 5.0 |
Local Businesses | Engagement with local firms | 7,483.3 million | 18.1 |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Cost Structure
Operating costs for airport management and maintenance
Consolidated operating costs and expenses for Grupo Aeroportuario del Sureste (ASR) increased by 27.3% year-over-year, amounting to Ps.3,386.1 million in Q3 2024. Excluding construction costs, operating costs rose by 18.3%, or Ps.430.7 million, driven by various factors:
- In Mexico, costs increased by 14.8%, or Ps.206.6 million, primarily due to higher personnel costs, concession fees, security and cleaning services, and maintenance.
- Puerto Rico experienced a rise of 20.4%, or Ps.122.3 million, largely attributed to foreign exchange effects and increased costs in personnel, electricity, and insurance.
- Colombia's costs surged by 28.2%, or Ps.101.7 million, mainly due to increases in maintenance, personnel costs, and taxes.
Labor costs associated with staffing and training
Labor costs have been a significant component of ASR's operating expenses. In Q3 2024, personnel costs were a major driver of the overall increase in operating expenses across all regions. Specific increases included:
- In Mexico, personnel costs contributed to the Ps.206.6 million increase in operating costs.
- Puerto Rico saw personnel-related costs rise, contributing to the overall increase of Ps.122.3 million.
- Colombia reported significant increases in personnel costs, driving up total operational expenses by Ps.101.7 million.
Construction and development expenses
Construction costs for ASR increased significantly, rising by 96.6% year-over-year to Ps.600.8 million in Q3 2024. The breakdown of construction expenses is as follows:
- In Mexico, construction costs surged by 143.7%, amounting to an increase of Ps.265.3 million.
- Puerto Rico experienced a 26.1% increase in construction costs, amounting to Ps.30.9 million.
- Colombia's construction costs increased by 48.0%, or Ps.1.1 million.
Marketing and promotional expenditures
Marketing and promotional expenditures are essential for maintaining passenger traffic and enhancing brand visibility. In Q3 2024, ASR's marketing expenses were included in administrative costs, which saw a year-over-year increase of 22.2% in Mexico. This increase reflects the company's strategic focus on promoting its services and enhancing customer engagement.
Expense Category | Q3 2023 (Ps.) | Q3 2024 (Ps.) | Change (%) |
---|---|---|---|
Operating Costs | 2,660.3 million | 3,386.1 million | 27.3% |
Labor Costs | Unknown | Increased significantly | -- |
Construction Expenses | 305.7 million | 600.8 million | 96.6% |
Marketing Expenses | Unknown | Increased by 22.2% | -- |
Grupo Aeroportuario del Sureste, S. A. B. de C. V. (ASR) - Business Model: Revenue Streams
Aeronautical revenues from landing and takeoff fees
Aeronautical revenues for Grupo Aeroportuario del Sureste (ASR) in the third quarter of 2024 were reported at Ps.4,527.1 million, reflecting a year-over-year increase of 19.4% compared to Ps.3,790.7 million in the same period of 2023. Breakdown by region included:
- Mexico: Ps.3,321.1 million
- Puerto Rico: Ps.557.8 million
- Colombia: Ps.648.2 million
Non-aeronautical revenues from retail and service operations
Non-aeronautical revenues amounted to Ps.2,355.4 million in 3Q24, which is a 5.0% increase from Ps.2,242.5 million in 3Q23. The contributions were as follows:
- Mexico: Ps.1,615.3 million
- Puerto Rico: Ps.508.2 million
- Colombia: Ps.231.9 million
Construction services revenues from infrastructure projects
Construction services revenues surged to Ps.600.8 million in 3Q24, marking a significant increase of 96.6% from Ps.305.7 million in 3Q23. This growth is primarily attributed to projects in:
- Mexico: Ps.450.0 million
- Puerto Rico: Ps.149.6 million
- Colombia: Ps.1.2 million
Government grants and subsidies related to airport operations
Government grants and subsidies are not explicitly detailed in the financial statements; however, ASR benefits from regulatory frameworks that support airport operations. The regulatory environment, particularly in Mexico, allows for certain operational subsidies that contribute indirectly to revenue streams.
Revenue Stream | Q3 2023 (Ps. million) | Q3 2024 (Ps. million) | Year-over-Year Growth (%) |
---|---|---|---|
Aeronautical Revenues | 3,790.7 | 4,527.1 | 19.4 |
Non-aeronautical Revenues | 2,242.5 | 2,355.4 | 5.0 |
Construction Services Revenues | 305.7 | 600.8 | 96.6 |
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.