The shares of Grupo Aeroportuario del Pacífico (GAP) and Volaris, both companies in the aviation sector, have been the ones that have fallen the most on the Mexican Stock Exchange (BMV) after the publication of their results reports for the first quarter of 2023 that did not liked the market.
The issuer whose share has lost the most after the publication of its report is GAP, with a drop of 11.82% since April 17 (date on which it released its financial statements).
The airport group that manages the Acapulco and Guadalajara terminals, among others, reported pressure on its profitability, due to higher expenses for a more normalized operation.
While GAP reported nearly 40% growth in revenue for the January-March 2023 period, its EBITDA margin contracted to 72.3% from 73.8% in the same period last year.
“Grupo Aeroportuario del Pacífico is having higher expenses due to a more normalized operation, with new routes to other destinations, which generates higher expenses in personnel, security, electricity, among others, and in this context it had a slight pressure on margins,” he said. Ramón Ortiz, stock market analyst at Actinver Casa de Bolsa.
Another company that also posted heavy losses on the BMV after the publication of its reports was Volaris, with a drop of 3.86 percent.
The low-cost airline reported a net loss of $71 million in the first quarter.
The loss was largely due to the 27.4% year-on-year increase in its operating expenses, which amounted to 762 million dollars in the first quarter of the year and were higher than its revenues.
Cuervo (-3.19%) also had a significant setback on the BMV, after reporting a 9.6% year-on-year drop in its net income for the first quarter of 2023.
Alsea, the most winning
In contrast, the company that earns the most after the publication of its report is the restaurant operator Alsea, whose share has risen 10.74% since April 28 (date of publication of its results).
The operator of the Starbucks brand in Mexico reported a 41.1% increase in its target profit for the first quarter of 2023, to 564 million pesos, favored by a better trend in consumption in the regions in which it has a presence.
In addition, its total sales grew 16% at the interannual rate, to settle at 17,584 million pesos in the period, supported by the improvement in consumption, as well as the implementation of commercial and pricing strategies.
Other companies that have also reacted positively to their quarterly reports are Gruma (+7.78% since the publication of their financial data) and Grupo Financiero Inbursa (+6.50%).
