Grupo Aeroportuario del Pacifico SAB de CV
BMV:GAPB

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Grupo Aeroportuario del Pacifico SAB de CV
BMV:GAPB
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Price: 413.88 MXN -0.94% Market Closed
Market Cap: 177.8B MXN

Grupo Aeroportuario del Pacifico SAB de CV
Investor Relations

Grupo Aeroportuario del Pacífico SAB de CV, known as GAP, stands as a key player in Mexico’s aviation infrastructure. Founded in 1998 during the country’s airport privatization initiative, GAP took flight by operating 12 airports across the Pacific region of Mexico. With a portfolio ranging from the touristic appeal of Los Cabos to the bustling business thoroughfare of Guadalajara, the company provides essential facilities for air transit, developing and managing airport infrastructure. By meticulously orchestrating a symphony of aeronautical and non-aeronautical services, GAP ensures seamless connections for millions of travelers and efficient operations for airlines. It focuses on enhancing passenger experience, from maintaining runways and terminals to providing premium services within its airport lounges, reinforcing its reputation for reliability and efficiency.

The company’s profitability narrative stems not only from traditional sources, such as airline charges, landing fees, and passenger charges, but also from a diverse array of non-aeronautical ventures. Retail operations, parking services, and car rentals within airport premises constitute significant revenue streams, leveraging the captive audience of air travelers. Additionally, GAP is strategically savvy, consistently upgrading and expanding airport facilities to cater to increasing passenger traffic and responding to market demands. Through phased expansions and improvements, the group maintains a forward-looking approach that underscores its commitment to growth and sustainability. This dual-focus strategy—balancing aeronautical and non-aeronautical revenues—positions GAP as a resilient enterprise in the dynamic aviation industry, continually embracing innovation while ensuring operational excellence.

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GAPB
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 22, 2025
AI Summary
Q3 2025

Revenue Growth: GAP reported a 17.4% increase in total revenue for Q3 2025 compared to the previous year, driven by both aeronautical and non-aeronautical businesses.

Passenger Traffic: Total passenger traffic grew 2.5% year-over-year to 15.8 million, despite a decline in international traffic due to immigration concerns and airline engine issues.

Profitability: EBITDA rose 12.8% to MXN 5.1 billion, with a margin of 64.3%, but margins were pressured by higher concession fees.

Cost Increases: Cost of services grew 14.1% due to regulatory changes requiring GAP to operate certain services directly, but management expects this level of cost to persist.

Tariff Hikes: Aeronautical tariffs were raised in March and September; another increase is expected in early 2026, with management projecting fulfillment of 93–97% of the maximum tariff next year.

Growth Initiatives: New routes, particularly to Canada and Panama, and expansion of commercial areas are expected to support future growth.

M&A Update: GAP is considering the acquisition of Motiva Airports, open to partnerships or solo bidding, with any deal expected to be financed through debt.

Guidance Maintained: Management confirmed they are on track to meet their full-year margin guidance despite cost pressures.

Key Financials
Total Passenger Traffic
15.8 million
Revenue from GAP-operated businesses
MXN 559 million
EBITDA
MXN 5.1 billion
EBITDA Margin
64.3%
Cash and Cash Equivalents
MXN 11.7 billion
Dividend per Share
MXN 8.42
Bond Issuance
MXN 8.5 billion
CapEx
MXN 7 billion (first 9 months)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Raul Revuelta Musalem
Chief Executive Officer
No Bio Available
Mr. Saul Villarreal Garcia
Chief Financial Officer
No Bio Available
Ms. Alejandra Yazmin Soto Ayech
Investor Relations & Social Responsibility Officer & Director
No Bio Available
Mr. Sergio Enrique Flores Ochoa
General Counsel & Secretary
No Bio Available
Mr. Alejandro Guillermo Manon Hernandez
Director of Culture & Human Capital
No Bio Available
Mr. Jose angel Martinez Sanchez
Chief of Airports & Regulated Revenues
No Bio Available
Ms. Susana Romero Mojica
Chief Commercial Officer
No Bio Available
Mr. Vicente Emilio Alonso Diego
Project Development Director
No Bio Available

Contacts

Address
JALISCO
Guadalajara
Avenida Mariano Otero No. 1249-B Piso 6, Torre Pacifico, Rinconada del Bosque
Contacts