ASUR's Q2 2025 Results Show Revenue Growth Amid Passenger Traffic Decline

Grupo Aeroportuario del Sureste (ASUR) reported a 0.1% decline in passenger traffic YoY, but a 17.9% increase in revenues to Ps.8,715.4 million. Net income fell 39.9% to Ps.2,270.2 million. The company distributed a cash dividend and plans further payments later in the year. Analyst rating is a Hold with a $305.00 price target.

Grupo Aeroportuario del Sureste (ASR) reported mixed financial results for the second quarter of 2025, with a 0.1% year-over-year (YoY) decline in total passenger traffic, a 17.9% increase in revenues to Ps.8,715.4 million, and a 39.9% decrease in net income to Ps.2,270.2 million. The company also announced a cash dividend distribution and plans for further payments later in the year.

The company's passenger traffic declined by 0.1% YoY, with variations across its operational regions. While Puerto Rico and Colombia saw increases of 3.2% and 1.0% respectively, Mexico experienced a 1.7% decrease. Revenues grew by 17.9% YoY, driven by a 4.8% increase excluding construction services. Commercial revenue per passenger improved by 6.3% to Ps.135.9. Consolidated EBITDA rose by 2.3% to Ps.5,024.9 million, although the adjusted EBITDA margin decreased to 67.6% from 69.2% in the previous year.

ASR's financial position remains strong, with a cash position of Ps.19,815.9 million and a low Debt to LTM Adjusted EBITDA ratio of 0.1x. The company approved a Ps.80.00 per share dividend, with Ps.50.00 paid in May 2025 and two Ps.15.00 extraordinary payments scheduled for September and November 2025.

The mixed results highlight the varying dynamics across ASR's operational regions. While the company achieved significant revenue growth, the decline in net income and adjusted EBITDA margin raises concerns about cost management and profitability. The decline in passenger traffic in Mexico, a key market, could impact future earnings if not addressed.

Analysts have rated ASR as a Hold with a $305.00 price target.

References:
[1] https://www.gurufocus.com/news/2995589/grupo-aeroportuario-del-sureste-sab-de-cv-asr-reports-mixed-2q25-results-asr-stock-news
[2] https://www.stocktitan.net/news/ASR/asur-announces-2q25-865ixba0sanf.html