This Monday, April 17, the publication of quarterly reports in Mexico begins, with Grupo Aeroportuario del Pacífico (GAP) tentatively inaugurating the season corresponding to the first quarter of 2023.
For GAP, as well as for the airport sector in general, analysts anticipate positive results, with double-digit growth in revenue and Ebitda, due to the continued growth in passenger traffic.
According to data from Bloomberg and Refinitiv, the consensus of analysts estimates that the income of GAP they will grow 23.8% in January-March 2023 compared to last year, while their Ebitda will expand 21.1 percent.
“We anticipate that the financial results for 1Q23 of the airport group (which operates the Tijuana and Guadalajara airports) will be positive, driven by an annual increase of 23.9% in passenger traffic during the period,” CIBanco analysts said in a report. of expectations.
Ramón Ortiz, an analyst at Actinver Casa de Bolsa, highlighted in a report that the passenger traffic in the field of mexican air transport it grew an average of 30% in the first quarter of 2023, as a result of the efforts of airlines and airports “to continue improving connectivity between destinations.”
The Actinver analyst highlighted that Grupo Aeroportuario del Centro Norte (OMA), which manages the Nuevo León terminal, was the one that increased its traffic the most (+35%) “as a result of a low base of comparison.”
Analysts from Monex Casa de Bolsa said that the passenger traffic of the three airport groups marked a “historic start to the year for the air sector”, with an average increase of 23.3 percent.
“At the level of Passenger Traffic, we consider that the three stations are attractive, driven by the favorable performance in tourist complexes and nearshoring in Mexico,” said Brian Rodríguez and Roberto Solano, from Monex.
For Southeast Airports (Asur), which operates the Cancun air terminal, the consensus expects revenue growth of 16.1%, as well as a 14.2% rise in its Ebitda, according to Bloomberg and Refinitiv.
While in the case of Grupo Aeroportuario del Centro Norte (OMA), which operates the Monterrey terminal, the consensus anticipates a rise of 31% in its revenues and 26.7% in its Ebitda.
stocks up
So far in 2023, the actions of airport groups have been among the most successful within the Price and Quotation Index (S&P/BMV CPI) of the Mexican stock exchangedue to the growth in their passenger traffic and the expectation that they will continue to achieve solid financial results.
OMA rises 35.48% in the year, being the second most winning within the S&P/BMV IPC and the airport that rises the most in 2023.
The share price has been boosted mainly by the announcement of the construction of a Tesla gigaplant in Santa Catarina, Nuevo León, which is expected to generate greater passenger traffic in the area, which would benefit the operator of the Tesla airport. Monterey.
Although they earn less, assur and GAP They are not far behind, with a return in 2023 of 25.04 and 20.46%, respectively.
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