ASUR ANNOUNCES 3Q26 RESULTS

Acquired operations contributed revenue without year-earlier comparisons, while passenger traffic and adjusted EBITDA margin declined.

Rhea-AI Summary

Grupo Aeroportuario del Sureste (ASR) reported third-quarter 2026 revenue of Ps.10,420.5 million, up from the same quarter a year earlier. Revenue rose 18.9%, or 12.6% excluding construction services. Net income increased 4.4% to Ps.2,307.904 million, while earnings per share rose 2.1% to Ps.7.1960.

Passenger traffic fell 1.2%, with declines in Mexico and Puerto Rico partly offset by Colombia and Brazil & Others. Results included one month of CPC Aeroportos operations following its September 1 acquisition. EBITDA, an earnings measure before financing, taxes, depreciation and amortization, rose 1.7% to Ps.4,719.3 million; adjusted EBITDA margin excluding construction accounting fell to 60.3% from 66.7%. Cash reached Ps.20,091.8 million, while net debt increased to Ps.49,878.072 million and net debt relative to trailing 12-month EBITDA rose to 2.6 times from 0.2 times.

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Positive

• Moderate pointRevenue rose 18.9% year over year to Ps.10,420.5 million in 3Q26; excluding construction, growth was 12.6%.
• Moderate pointCPC Aeroportos acquisition completed September 1, 2026, adding operations across Brazil, Ecuador, Costa Rica and Curazao.
• Moderate pointNet income increased 4.4% year over year to Ps.2,307.904 million in 3Q26.
• Moderate pointEBITDA increased 1.7% year over year to Ps.4,719.3 million in 3Q26.
• Moderate pointCash and cash equivalents increased 23.6% year over year to Ps.20,091.8 million.

10 minor points

• Minor pointBrazil & Others contributed Ps.676.4 million excluding construction in September, with no comparable 3Q25 contribution.
• Minor pointU.S. commercial operations contributed Ps.456.4 million in 3Q26, with no comparable 3Q25 contribution.
• Minor pointMajority net income rose 2.1% to Ps.2,158.798 million; earnings per share reached Ps.7.1960.
• Minor pointEarnings per ADS increased 2.1% year over year to US$3.9825 in 3Q26.
• Minor pointColombia revenue increased 22.0% year over year to Ps.1,172.173 million in 3Q26.
• Minor pointMexico revenue increased 3.1% year over year to Ps.6,679.835 million in 3Q26.
• Minor pointCommercial revenue per passenger increased 3.5% year over year to Ps.130.5 in 3Q26.
• Minor pointColombia commercial revenue per passenger rose 10.3% year over year to Ps.65.2.
• Minor pointColombia passenger traffic rose 5.2%, with domestic traffic up 6.5% and international traffic up 1.0% year over year.
• Minor pointBrazil & Others September traffic rose 1.4% year over year pro forma; Brazil gained 2.6% and Ecuador 1.7%.

Negative

• Moderate pointNet debt rose 903.1% year over year to Ps.49,878.072 million; net debt-to-trailing-12-month EBITDA reached 2.6 times versus 0.2 times.
• Moderate pointAdjusted EBITDA margin excluding construction accounting fell to 60.3% from 66.7% in 3Q25.
• Moderate pointTotal passenger traffic decreased 1.2% year over year in 3Q26.
• Moderate pointCapital expenditure increased 45.1% year over year to Ps.2,716.593 million in 3Q26.
• Minor pointMexico passenger traffic fell 4.6%; international traffic declined 11.8%, partly offset by 1.6% domestic growth year over year.

5 minor points

• Minor pointPuerto Rico passenger traffic fell 3.2%; domestic and international traffic declined 3.1% and 3.9%, respectively, year over year.
• Minor pointCosta Rica and Curazao September traffic declined 6.1% and 0.9%, respectively, year over year pro forma.
• Minor pointSan Juan revenue decreased 4.1% year over year to Ps.1,270.911 million in 3Q26.
• Minor pointMexico commercial revenue per passenger declined 10.4% year over year to Ps.129.1.
• Minor pointSan Juan commercial revenue per passenger declined 2.1% year over year to Ps.163.3.

Key Figures

Passenger traffic: -1.2% YoY Revenue: Ps.10,420.5 million, +18.9% YoY Consolidated EBITDA: Ps.4,719.3 million, +1.7% YoY +4 more

Passenger traffic

-1.2% YoY

3Q26 total passenger traffic

Revenue

Ps.10,420.5 million, +18.9% YoY

3Q26

Consolidated EBITDA

Ps.4,719.3 million, +1.7% YoY

3Q26

Adjusted EBITDA margin

60.3%, down from 66.7%

Excluding IFRIC 12; 3Q26 versus 3Q25

Brazil & Others revenue excluding construction

Ps.676.4 million

One full month of operations following the September 1, 2026 acquisition

Cash and cash equivalents

Ps.20,091.8 million

3Q26

Net Debt-to-LTM EBITDA

2.6x

3Q26

Historical Context

1 past event · Latest: Sep 01

1 event

1. Sep 01

   Acquisition close

   24h Move

   +2.3%

   Closed the CPC acquisition; the current quarter includes one full month of Brazil & Others operations.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ifric 12, ifrs

2 terms

ifric 12 technical

"Adjusted EBITDA Margin (excluding IFRIC 12) decreased to 60.3%"

IFRIC 12 is an international accounting rule that tells companies how to record deals where a private firm builds or runs infrastructure (like roads, airports or utilities) on behalf of the public and is paid over time for providing the service. It matters to investors because it determines whether the infrastructure appears as an asset on the company’s balance sheet or as a right to charge users, which affects reported profits, debt levels and the company’s apparent financial health — similar to whether you count a leased house as yours or just the right to collect rent.

ifrs financial

"all financial figures are unaudited and prepared in accordance with International Financial Reporting Standards (IFRS)"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

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Total passenger traffic decreased 1.2% YoY, reflecting decreases of 4.6% in Mexico and 3.2% in Puerto Rico, partially offset by increases of 5.2% in Colombia, and 1.4% in Brazil & Others

Results include one full month of operations from the acquisition of CPC Aeroportos which operates 20 airports across Brazil, Ecuador, Costa Rica and Curazao

MEXICO CITY, Oct. 22, 2026 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) (ASUR), a leading international airport group in the Americas, today announced its results for the three- and nine-month periods ended September 30, 2026.

3Q26 Highlights¹

• Total passenger traffic decreased 1.2% year-over-year ("YoY"):
  • Mexico: decreased 4.6%, reflecting a decrease of 11.8% in international traffic, partially offset by an increase of 1.6% in domestic traffic.
  • Puerto Rico: decreased 3.2%, reflecting decreases of 3.1% and 3.9% in domestic and international traffic, respectively.
  • Colombia: increased 5.2%, reflecting increases of 6.5% in domestic traffic and 1.0% in international traffic.
  • Brazil & Others: increased 1.4% YoY pro-forma for the acquisition completed on September 1, 2026, reflecting increases of 2.6% in Brazil and 1.7% in Ecuador, partially offset by decreases of 6.1% in Costa Rica, and 0.9% in Curazao.
• Revenues increased 18.9% YoY to Ps.10,420.5 million. Excluding construction services, revenues increased 12.6%.
• 3Q26 includes Ps.456.4 million in revenue from the U.S. commercial operations, acquired in December 2025, and Ps.676.4 million excluding construction from one full month of operations in Brazil & Others acquired on September 1, 2026, both with no comparable contribution in 3Q25.
• Commercial revenue per passenger increased 3.5% YoY to Ps.130.5.
• Consolidated EBITDA increased 1.7% YoY to Ps.4,719.3 million.
• Adjusted EBITDA Margin (excluding IFRIC 12) decreased to 60.3% from 66.7% in 3Q25.
• Cash and cash equivalents totaled Ps.20,091.8 million, with Net Debt-to-LTM EBITDA at 2.6x.

Table 1: Financial & Operational Highlights 1
	Third Quarter		% Chg
	2025	2026
Financial Highlights
Total Revenue	8,765,450	10,420,538	18.9
Mexico	6,479,089	6,679,835	3.1
San Juan	1,325,782	1,270,911	(4.1)
Colombia	960,579	1,172,173	22.0
U.S.		456,421	0.0
Brazil & Others		841,198	0.0
Commercial Revenues per PAX	126.1	130.5	3.5
Mexico	144.2	129.1	(10.4)
San Juan	166.8	163.3	(2.1)
Colombia	59.1	65.2	10.3
Brazil & Others		67.4	n/a
EBITDA	4,639,368	4,719,290	1.7
Net Income	2,211,351	2,307,904	4.4
Majority Net Income	2,114,592	2,158,798	2.1
Earnings per Share (in pesos)	7.0486	7.1960	2.1
Earnings per ADS (in US$)	3.9009	3.9825	2.1
Capex	1,872,758	2,716,593	45.1
Cash & Cash Equivalents	16,259,294	20,091,816	23.6
Net Debt	4,972,580	49,878,072	903.1
Net Debt/ LTM EBITDA	0.2	2.6	953.0
Operational Highlights
Passenger Traffic
Mexico	9,519,731	9,084,716	(4.6)
San Juan	3,354,150	3,247,661	(3.2)
Colombia	4,449,600	4,679,491	5.2
Brazil & Others	3,872,332	3,924,970	1.4

¹ Unless otherwise stated, all financial figures are unaudited and prepared in accordance with International Financial Reporting Standards (IFRS). All figures in this report are expressed in Mexican pesos, unless otherwise noted. Tables state figures in thousands of Mexican pesos, unless otherwise noted. Passenger figures for Mexico and Colombia exclude transit and general aviation passengers, while Puerto Rico includes transit passengers and general aviation. Passengers in transit to Brazil, Costa Rica, Ecuador, and Curazao are excluded. Commercial revenues include revenues from non-permanent ground transportation and parking lots. U.S. dollar figures are calculated at an exchange rate of US$1.00 = Ps.18.0692 (source: Diario Oficial de la Federación de Mexico) while Colombian peso figures are calculated at an exchange rate of COP.182.3000 = Ps.1.00 (source: Investing), and Brazilian reais figures are calculated at an exchange rate of BRL 1 = Ps.3.4880 (source: Banco Central do Brasil). Definitions for EBITDA, Adjusted EBITDA Margin, and Majority Net Income can be found on page 23 of this report. Operating and financial data for Brazil & Others reflect performance for September 2026, following its September 1, 2026, acquisition, while September 2025 traffic figures are presented for comparison purposes only.

For a full version of ASUR's Third Quarter of 2026 Earnings Release, please visit: https://www.asur.com.mx/informacion-financiera-page-0

3Q26 Earnings Call

Day: Friday, October 23, 2026, at 10:00 AM ET; 8:00 AM Mexico City time

Dial-in: +1 877 407 4018 (U.S. Toll-Free); +1 201 689 8471 (International)

Access Code: 13763206. Please dial-in 10 minutes before the scheduled start time.

Replay: Friday, October 23, 2026, at 2:00 PM ET, ending at 11:59 PM ET on Friday, October 30, 2026. Replay Dial-in number: +1 844 512 2921 (U.S. Toll-Free); +1 412 317 6671 (International). Access Code: 13763206

Definitions

Concession Services Agreements (IFRIC 12 interpretation). In Mexico, Puerto Rico, and Brazil & Others, ASUR is required by IFRIC 12 to include in its income statement an income line, "Construction Revenues," reflecting the revenue from construction of, or improvements to concessioned assets made during the relevant period. The same amount is recognized under the expense line "Construction Costs" because ASUR hires third parties to provide construction services. Because equal amounts of Construction Revenues and Construction Costs have been included in ASUR's income statement as a result of the application of IFRIC 12, the amount of Construction Revenues does not have an impact on EBITDA, but it does have an impact on EBITDA Margin. In Colombia, "Construction Revenues" include the recognition of the revenue to which the concessionaire is entitled for carrying out the infrastructure works in the development of the concession, while "Construction Costs" represents the actual costs incurred in the execution of such additions or improvements to the concessioned assets. 

Majority Net Income reflects ASUR's equity interests in each of its subsidiaries and therefore excludes the 40% interest in Aerostar that is owned by other shareholders, as well as 53.5% in Ecuador, 20.2% in Curazao, 2.5% in Costa Rica and 61.7% in Bello Horizonte. Other than these operations, ASUR owns (directly or indirectly) 100% of its subsidiaries.

EBITDA is calculated as consolidated net income plus income tax, share of loss of investments accounted for using the equity method, extraordinary items, comprehensive financing costs and depreciation and amortization. EBITDA should not be considered an alternative to net income as an indicator of our operating performance or an alternative to cash flow as an indicator of liquidity. Our management believes that EBITDA provides a useful measure that is widely used by investors and analysts to evaluate our performance and compare it with other companies. EBITDA is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies.

Adjusted EBITDA is calculated as consolidated EBITDA adjusted by certain items that include the impact of IFRS16 in connection with ASUR Airports and add back extraordinary items.

Adjusted EBITDA Margin is calculated by dividing Adjusted Consolidated EBITDA by Total Revenue Excluding Construction Services Revenue for Mexico, Colombia, Puerto Rico and Brazil & Others, and exclude the effect of IFRIC 12 with respect to the construction of, or improvements to, concessioned assets. IFRIC 12 requires ASUR to include in its income statement a revenue line reflecting revenues from the construction or improvement of concession assets during the relevant period. The same amount is recognized under the expense line "Construction Costs," as ASUR engages third parties to provide construction services. In Mexico, Puerto Rico, Colombia and Brazil & Others, construction revenues and construction costs are included in ASUR's income statement as a result of the application of IFRIC 12. Construction revenues therefore have no impact on EBITDA but affect the EBITDA margin, as the increase in revenues attributable to construction revenues does not result in a corresponding increase in EBITDA. Like EBITDA Margin, Adjusted EBITDA Margin should not be considered an indicator of our operating performance or an alternative to cash flow as an indicator of liquidity. It is not defined under U.S. GAAP or IFRS and may be calculated differently by different companies.

About ASUR

Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) is a leading international airport operator with a diversified portfolio of 36 airport concessions across the Americas and a commercial services platform in the U.S.

ASUR operates nine airports in southeastern Mexico, including Cancún Airport, the largest tourist gateway in Mexico, the Caribbean, and Latin America; and six airports in northern Colombia, including Medellin international airport (Rionegro), the second busiest in Colombia. The Company also holds a controlling interest in Aerostar Airport Holdings, LLC, operator of Luis Muñoz Marin International Airport in San Juan, the capital of Puerto Rico, the island's primary international gateway. San Juan Airport was the first and remains the only major airport in the U.S. to have successfully completed a public–private partnership under the FAA Pilot Program. ASUR has recently acquired 100% of CPC Aeroportos' stake to operate 17 airports in Brazil, Latin America's largest aviation market by passenger traffic, as well as one airport each in Costa Rica, Curazao, and Ecuador.

ASUR also operates a commercial services platform in the U.S. through ASUR Airports, which partners with airports and airlines to deliver enhanced retail and passenger experiences. ASUR Airports operates at major U.S. hubs, including Los Angeles International, Chicago O'Hare, and John F. Kennedy International.

Headquartered in Mexico, ASUR is listed on both the Mexican Bolsa (BMV) under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) B-series shares. For further information, visit www.asur.com.mx 

Analyst Coverage

In accordance with Article 4.033.01 of the Mexican Stock Exchange Internal Rules, ASUR reports that the stock is covered by the following broker-dealers: Actinver, Banorte, BBVA, BofA Merrill Lynch, Bradesco BBI, BTG Pactual, Citi Global Markets, GBM Grupo Bursatil, Goldman Sachs, HSBC Securities, Insight Investment Research, Itau BBA Securities, Jefferies, J.P. Morgan, Punto Research, Santander, Scotiabank, UBS Casa de Bolsa and Vector. Please note that any opinions, estimates or forecasts with respect to the performance of ASUR issued by these analysts reflect their own views, and therefore do not represent the opinions, estimates or forecasts of ASUR or its management. Although ASUR may refer to or distribute such statements, this does not imply that ASUR agrees with or endorses any information, conclusions or recommendations included therein.

Forward Looking Statements

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR's filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

View original content:https://www.prnewswire.com/news-releases/asur-announces-3q26-results-302917260.html

SOURCE Grupo Aeroportuario del Sureste, S.A.B. de C.V.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did ASUR passenger traffic change in 3Q26?

ASUR's total passenger traffic decreased 1.2% year over year in 3Q26. Mexico declined 4.6% and Puerto Rico declined 3.2%, while Colombia increased 5.2%. Brazil & Others traffic increased 1.4% year over year pro forma, based on September operations following the September 1, 2026 acquisition.

What does ASUR's majority net income exclude?

Majority net income excludes other shareholders' interests in ASUR subsidiaries. These interests are 40% in Aerostar, 53.5% in Ecuador, 20.2% in Curazao, 2.5% in Costa Rica and 61.7% in Bello Horizonte.