Safe Harbor Statement
Matters Strategic Some of the statements contained in this presentation discuss future expectations or state other forward-looking information.
Those statements are subject to risks identified in this press Financial
Information 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
Revenues based on various factors and was derived using numerous Commercial Commercial 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 Information Operational them, whether as a result of new information, future or
otherwise.
Regulation
Overview Company Company
Page 2 Management Team
Long Serving Fernando Chico Pardo Adolfo Castro Rivas
Experienced Chairman of the Board of Directors Chief Executive and Financial Officer Matters Strategic Head of Investor Relations Management with company since 2005 with company since 2000
Claudio Góngora Morales Alejandro Pantoja López Financial
Information General Counsel Chief Infrastructure Officer
with company since 1999 with company since 2001
Revenues Commercial Commercial Agustín Arellano Rodríguez Manuel Gutiérrez Sola
Director of International Projects Chief Commercial Officer
Operational Information with company since 2010 with company since 2000 Carlos Trueba Coll Héctor Navarrete Muñoz
Regulation General Director of Cancún Airport General Director of Regional Airports
with company since 1998 with company since 1999
Overview Company Company
Page 3 Investment Highlights
Key value
drivers
Matters Strategic • Long-term concession investments in attractive locations in
Mexico Financial Information • Established regulatory framework
• Track record of consistent passenger growth Revenues Commercial Commercial • Balanced mix of international and domestic traffic
• Successful, market leading commercial business strategy
Operational Information • Strong cash flow profile and solid balance sheet
• Robust corporate governance and board of directors with Regulation
experienced management
Overview Company Company
Page 4 Focus on Corporate Social Responsibility
Sustainability
is a
Matters Strategic key strategy in • Member of Dow Jones and Bolsa Mexicana de Valores our business sustainability indices
model Financial Information • Active participant of United Nations Global Compact, in Mexico and internationally
th
Revenues • Certified by CEMEFI as Socially Responsible Company (6 year) Commercial Commercial
• Airports’ Environmental Management Systems certified under
ISO 14001
Operational Information • Environmental Compliance certification from Mexican
Environmental Protection Agency Regulation • Focus on quality of life for employees and community
relations Overview Company Company • Strict standards of corporate governance and business ethics Page 5 Page Page Company Operational Commercial Financial Strategic Regulation 6 Overview Information Revenues Information Matters Geographical presence Airportoperations attractive in locationsMexico in the Caribbean and Cancún: Close to major U.S. destinations
Illustrative
flight times Matters Strategic from various
destinations
Financial
Information
Revenues
Commercial Commercial
Operational Information
Regulation
Overview Company Company
Page 7 Private airports / airport groups listed on global stock exchanges
ASUR and GAP are the only Latin American
Airport Groups listed on NYSE
Matters
Strategic
Financial
Information
Revenues
Commercial Commercial
Operational Information
Regulation
Overview Company Company
Page 8 Ownership overview
FCHP & ADO
Matters
Strategic
Financial
Information
Revenues
Commercial Commercial
Operational Information
Regulation
Overview Company Company * Shares with voting rights and delegated voting rights, as of June 30, 2016 Page 9 Established regulatory framework with a track record of rate setting precedents
Dual Till
System
Matters Strategic
Regulated +
Non Regulated Financial
Information Revenues
Revenues
Commercial Commercial
Operational Information
Regulation Overview Company Company Note: 2015 Revenues per PAX, expressed In nominal pesos as of Dec 2015; passenger traffic excludes transit and general aviation passengers ASUR adjusts specific tariffs / prices once every six months using the Mexican producer price index, excluding petroleum). Page 10 Visibility of capital expenditure requirements through 2018 MDP investment commitments (expressed in December 2015 Million Pesos) 16,873 million pesos 3,000
Matters 2,500 Strategic invested 2,000 1999-2015 1,500
1,000 Financial Information 2016 -2017 500
Construction 0
of Terminal 4 Revenues Commercial Commercial in Cancún • Visibility on capital expenditure requirements, as maximum rate negotiated along with Master Development Plan (MDP) is a function of programmed capex
• Key projects completed: • Key future projects: Information Operational 1999: Government capex backlog New Terminal 4 in CUN 2005: 9/11 security standards Terminal 2 & 3 expansion in CUN 2006-2007:Terminal 3 and second Terminal building expansion VER runway in CUN Required works for Airport Certification Regulation 2011: Passenger flow separation in CUN (9 airports) 2011-2013: Terminal building expansion: HUX, MID, OAX and VSA
1 Committed investments from May 1999 to Dec 2000 Overview Company Company 2 151 million pesos have been paid each year (anticipated) – Terminal 3 Cancún Airport Note: Committed investments according to Master Development Plan, expressed in million pesos as of December 2015 based on the Page 11 Mexican construction price index in accordance with the terms of the Master Development Plan. ASUR’s airports are among the most frequented in Mexico
Mexican Airports by PAX
(thousand PAX)
Matters
Strategic
Financial
Information
Revenues
Commercial Commercial
Operational Information
Regulation Overview Company Company 1 According to the Communications and Transport Ministry’s website Source: Company financials, AICM website: Note: Selected airport sample includes ASUR, GAP, OMA and OHL Page 12 concessions and the Mexico City airport; PAX traffic excludes transit and general aviation PAX Revenue and passenger breakdown
2015 Revenue per PAX:
Ps.245
Matters Strategic 2015 Revenues by business by airport Villahermosa Other 11.1% Ps.6,414M Non-aeronautical 39% Regulated 3.6% Commercial 64%
Financial Merida
Information 36% 5.4% Cancun
80.0% Revenues Commercial Commercial Aeronautical 61%
2015 PAX by type by airport Information Operational Other 13.8% 26.1M Villahermosa
Domestic 4.9% 45% Merida 6.3% Cancun Regulation 75.0% International
55% Overview
Company Company Source: Company filings; Note: Non-aeronautical revenues are derived from leasing of space in airports to airlines, restaurants, retailers and other commercial tenants and access fees collected from third parties providing complementary services (such as catering, handling, and ground transport). Commercial revenues are all non-aeronautical and include revenues related to retail (duty free & duty paid), food & beverages, advertising, banking & foreign exchange, car rental, car parking, ground transport, teleservices and others. Revenues from Construction Services are not included. PAX traffic Page 13 excludes transit and general aviation. ASUR traffic evolution
1990 – 2015
CAGR: 6.4%
Matters Strategic
25.0
20.0
Financial Information
15.0 Revenues
Commercial Commercial 10.0
5.0
Operational Information
0.0
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
9M16
9M15 Regulation
CAGR ’90–’15 (INT’L): 7.1% Overview Company Company Source: ASA from 1990-1998. ASUR management thereafter CAGR ’90–’15 (DOM): 5.6% Note: Transit and general aviation excluded Page 14 CAGR ’90–’15 (Cancun): 7.8% ASUR has a balanced mix of domestic and international traffic
Passenger traffic by Origin – Destination
(million PAX)
Matters
Strategic
Financial Information % % of % CAGR Change total Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 99-15 15 vs. 14 2015 1 Mexico 5.0 5.0 4.9 4.8 5.3 5.6 5.5 5.9 7.4 8.1 7.0 7.2 7.7 8.9 9.7 10.7 12.1 13.1 46.1 5.6
Revenues USA 4.1 4.6 4.5 4.4 4.9 5.9 5.6 5.3 6.0 6.5 5.9 6.2 6.2 6.2 6.8 7.6 8.8 15.6 33.8 4.9 Commercial Commercial Europe 0.7 0.9 0.9 0.8 1.0 1.3 1.2 1.3 1.4 1.5 1.0 1.2 1.3 1.5 1.7 1.7 1.7 (0.8) 6.5 5.9 Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8 1.0 1.3 1.3 1.5 1.7 1.8 1.8 1.9 2.0 5.9 7.6 12.7
Latin America 0.5 0.5 0.5 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.5 0.6 0.9 1.1 1.3 1.6 23.8 6.0 7.1
Operational Information Asia & Others 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NA 0.0 NA
ASUR 10.6 11.4 11.3 10.9 12.2 13.9 13.4 13.6 16.1 17.8 15.5 16.7 17.5 19.2 21.1 23.2 26.1 12.9 100 5.8 Regulation
1 Note: % of total refers to 2015 figure
Note: Excludes transit and general aviation;
Overview Company Company
Page 15 Historically, traffic has recovered and grown after exogenous events
27.65 M Passenger
traffic during Matters Strategic last 12- months at
each specific Financial Information date (million 15.14 M
PAX) 12.51 M
Revenues
Commercial Commercial
Operational Information Regulation
EVENT RECOVERY AFTER Type of PAX Historical Max. (%) Sep 16 vs. Hist. Max
Sep ‘01: 9/11 13 months Domestic Sep’16 0.0% Overview Company Company Oct ‘05: H. Wilma 16 months International Sep’16 0.0%
Page 16 May ‘09: H1N1 26 months TOTAL Sep’16 0.0% After 6.5 years, Mexico hasn’t recovered the level of Airplanes Available
2016 Industry Available Airplanes in Mexico
Estimates: Matters Strategic 335 available 400 a) Existing Airlines 146 150 New jun-08 dic-15 Var. % airplanes 350 Airplanes 120 INTERJET 11 60 49 445% 229% 307 90 VOLARIS 17 56 39
Financial 300
298 Lost vs. New Airplanes AEROMEXICO 94 125 31 33% Information 60 VIVAAEROBUS 7 21 14 200% 250 AEROMAR 14 16 2 14% 30 MAGNICHARTERS 5 12 7 140% TAR 0 7 7 100% 200 0
GLOBAL AIR 4 1 (3) (75)% Revenues
Commercial Commercial -30 150 Subtotal 152 298 146 96% -60
100 -90 b) Suspended Airlines
Available airplanes Available Lost jun-08 dic-15
-120 Airplanes
Operational Information 50 MEXICANA 78 0 (78) (155) -150 ALMA 15 0 (15) 0 -180 AEROCALIFORNIA 22 0 (22) Jun-08 Sep-10 Dec-15 AVOLAR 8 0 (8)
ALADIA 3 0 (3) Regulation Available airlpanes AVIACSA 26 0 (26) NOVA AIR 3 0 (3) Lost airplanes - suspended airlines Subtotal 155 0 (155)
Source: New airplanes - existing airlines Overview
Company Company www.airfleets.net www.aerotransport.org Page 17 Successful commercial strategy
Nominal CAGR 2000 – 2015: 22.9%
(Mexican CPI CAGR 2000-2015: 4.2%) Matters
Strategic 2015 commercial revenue per PAX Commercial revenues per passenger per quarter evolution vs. peers (US$/PAX) – converted at an average (Pesos / Passenger in Mexican pesos as of date reported)
FX of PS. 17.2487/US$ for Mexican Airports
Financial
Information
Revenues
Commercial Commercial
Operational Information
Regulation Selected Int ASUR GAP OMA
1 International average includes figures for Fraport, TAV Airports, Copenhagen Airports, Vienna Airport, Aeroports do Paris and Zurich Airport; Note: OMA commercial revenues include parking, advertising, leasing, retail stores, car rental, food & beverage, communications, financial services, ground transportation and time-sharing (Revenues from Cargo are excluded); GAP commercial revenues include parking, leasing, retail stores, food & beverage, car rentals, time-share, duty free, advertising, communications, financial services and ground transportation; Fraport commercial revenues include real estate, retail, parking, energy supply, advertising and rents; TAV Airports
commercial revenues include catering and duty free; Copenhagen Airports commercial revenues include shopping centers, car parking, rents, hotel operations and other services; Vienna Airport commercial revenues include Overview Company Company parking, rentals, advertising, shopping and gastronomy; Aeroports do Paris commercial revenues include retail stores, duty free, rentals, car parking, industrial services, shops, bars, restaurants, leasing and rentals; Zurich Airport commercial revenues include retail stores, duty free,advertising, car rentals, ground transportation, financial services, food & beverage, rentals and leasing; Converted to US$ at an average FX of Ps.17.2487/US$, where applicable; Note: Commercial revenue per passenger recorded in 3Q’05 reflects a one time payment from Dufry Mexico of Ps.39.5mm; Commercial revenue recorded in 4Q’06 reflects a one time payment of Ps.19.1mm from Aldeasa for a Page 18 new concession contract at Terminal 3 in Cancun International. Passenger traffic excludes transit and general aviation; Commercial revenue per passenger CAGR based on full year 2000 and full year 2015 figures Track record of consistent revenue growth and profitability
Total Revenues CAGR 1999 – 2015: 13.1%
Not including Revenues from Construction Services Matters Strategic 1999 – 2015 Revenues EBITDA & EBITDA Margin (Ps. Mm)
CAGR ’06–’15: 14.7%
Financial
Information
Revenues Commercial Commercial
2010 - 2015 EBITDA margin calculated without Revenues from
Construction Services for comparability with previous periods Information Operational Growth rates: ’99 – ’15 CAGR (%) Passenger traffic 5.8% Total revenues 13.1%
Regulation EBITDA 15.1% Net income 20.5%
Mexican CPI 4.5% Overview Company Company Source for Mexican CPI: IMF; Note: CAGRs calculated in Mexican peso terms; Revenues from Construction Services not included; passenger figures exclude Figures for 2010, 2011, 2012, 2013, 2014 & 2015 reflect adoption of MIFRS-17 passengers in transit or general aviation Page 19 Note: From 1999 to 2007 figures in nominal Mexican pesos adjusted for inflation as of Dec. 31st of each year ASUR has positively differentiated itself…
Revenue per PAX in 2015 CAGR in Revenues 2006 – 2015 (%) ACI has
named Matters Strategic Cancun as the best airport in
Latin America Financial Information for 4 ASUR GAP OMA ASUR GAP OMA consecutive
years CAGR in PAX Traffic 2006 – 2015 (%) CAGR in EBITDA 2006 – 2015 (%)
Revenues
Commercial Commercial
Operational Information
ASUR GAP OMA Regulation
NOTES: 1. Revenues from Construction services are excluded for ASUR, GAP & OMA. 2. ASUR figures exclude participation of 2015 EBITDA from San Juan Airport Operations (Puerto Rico).
Overview 3. GAP figures exclude 2015 revenues of $983.2 million pesos (equivalent to $35.59 pesos/pax) from Montego Bay Airport Operations & exclude 2015 Company Company EBITDA of $561.9 million pesos from Montego Bay Airport Operations. 4. OMA figures exclude 2015 revenues of $229.4 million pesos (equivalent to $13.55 pesos/pax) from NH Hotel (Mexico City Airport) & Hilton Garden Page 20 Inn Hotel (Monterrey Airport). Revenues have grown at a faster rate than
total costs and PAX traffic Matters
Strategic Revenue and cost per PAX comparison (Ps./PAX)
Financial
Information
Revenues Commercial Commercial
NOTE: Total Revenue per passenger does not include revenues from construction services. Controllable expenses per passenger exclude: D&A, Concession Fee, Technical Assistance and Cost of Sales
from Direct Commercial Operation. 3Q’10: Does not reflect the Ps.128.0 million increase in the reserve for doubtful accounts resulting from the bankruptcy announced by Grupo Mexicana de Aviación Information Operational 2015 operating cost breakdown (%) Growth rates: ’06 – ’15 CAGR (%)
Passenger traffic 7.4% Cost of services 6.6%
Revenues 12.4% Administrative services 8.1% Regulation EBITDA 14.7% Total costs 5.8% Net Income 20.9% Mexican inflation (CPI) 4.0%
Mexican GDP growth 2.1% Overview Company Company Growth rates in Mexican peso terms; Mexican inflation growth rate calculated as the % change in CPI indexed to 2006; total costs include concession fee, technical assistance, administrative services, costs of services and D&A; PAX traffic excludes Transit and G.A. PAX. Page 21 Dividends evolution 1999 - 2015
Matters EBITDA – CAPEX Net Income, retained earnings and dividends evolution Strategic
(Ps. million) (Ps. thousands) 1
Financial
Information
Revenues
Commercial Commercial
Operational Information Regulation
2 33
1 Note: Figures in nominal Mexican pesos for the respective year; for illustrative purposes, dividend in each year in the chart above relates to the dividend paid in nominal
pesos in the year thereafter, i.e. dividend shown in year (x) in the chart above is actually the dividend paid in year (x+1) according to ASUR financial statements; Overview Company Company Note: 2010, 2011 2012, 2013, 2014 & 2015 figures reflect the adoption of INIF 17 2 Note: 4.00 pesos per share paid in May 2013; 4.40 pesos per share paid in December 2013. Page 22 3 Note: 5.61 pesos per share approved by the Annual General Shareholders Meeting on April 26th, 2016 and paid on June 15th, 2016. April 26th, 2016 Robust corporate governance and board of directors
Acq. & Board of Audit Operations Nom & Comp Contracts Directors Committee Committee Committee High Committee
Corporate Fernando Chico Pardo Matters
Strategic X X X X Governance Founder and President of Promecap José Antonio Pérez Antón X X X Standards CEO of Grupo ADO Roberto Servitje Sendra1
Former Chairman of Grupo Bimbo X X Financial Information Ricardo Guajardo Touche1 Former president of BBVA Bancomer X X X Francisco Garza Zambrano1 Former President of CEMEX North America X X
Revenues 1 Commercial Commercial Guillermo Ortiz Martinez Former Governor of Mexico Central Bank for 12 yrs. X X Rasmus Christiansen 1
Former CEO of Copenhagen Airports International X X X Information Operational Luis Chico Pardo Former economist at the Bank of Mexico X Aurelio Pérez Alonso
Deputy Chief Executive Officer of Grupo ADO X X Regulation • 1 Five out of nine board members are independent • Sarbanes-Oxley compliant
• Four committees led by board members Overview Company Company • Audit committee comprised of 3 independent members of the board of directors
Page 23 What’s Next?
Short & Long • Further develop our commercial business
Term Matters Strategic Objectives • Improve our passenger volumes
• World Class service – ASQ Program
Financial Information
• Improve capital structure Revenues
Commercial Commercial • Monitor new business opportunities
Operational Information
Regulation
Overview Company Company
Page 24 ASUR: International Presence in Puerto Rico
Aerostar: • Luis Munoz Marin International Airport, in San Juan Puerto
Limited liability Rico (8.8M PAX during 2015) Matters Strategic company th owned by • Feb 27 , 2013 initiated with the operation of the airport: ASUR (50%) & Term of 40 years
Financial Highstar (50%) Upfront payment of $615M USD Information Equity contributions by each of ASUR and Highstar Capital, 118M USD, Subordinated debt from ASUR 100M USD), project risk
350M USD.(preliminary figures) Revenues Commercial Commercial Airlines serving LMM will collectively make aggregate payments LMM of $62M USD/yr for the first five years; years 6-40 the payment
will be increased annually by the U.S. CPI Information Operational Revenue-sharing payments to PRPA: fixed at $2.5M USD first five years; 5% of gross airport revenues (years 6-30); 10% of gross airport revenues (years 31-40)
Regulation Minimal Capital Improvement projects: $34M USD
Consolidation: Equity method
Overview Company Company
Page 25 Aerostar Financial Information 2014 & 2015
Condensed Statement of Comprehensive Loss Aerostar (thousands of Mexican pesos)
Total income: Matters Strategic $2,049,611 2015 2014 (thousands of Mexican pesos)
Total income (*) $ 2,049,611 $ 1,600,561 Financial
Information Operating costs and expenses (1,456,915) (1,168,731) Comprehensive financing loss - Net (444,726) (319,514) Contingencies 0 (1,257)
Revenues Deferred income taxes (46,124) (38,162) Commercial Commercial
LMM Net profit for the period 101,846 72,897 Information Operational ASUR - 50% Participation 50,923 36,449
(*) Under IFRS, PFC income is shown in the total income line, while under US GAAP it is shown in the other income line.
Regulation
Overview Company Company
Page 26