PAC FY 2013 Earnings Report — Grupo Aeroportuario del Pacífico, S.A.B. de C.V. Revenue & Financial Results | Market Cap Arena

Grupo Aeroportuario del Pacífico, S.A.B. de C.V.PAC

FY 2013 Earnings

Reported December 30, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$300M	—	$284M	—	5.7%
Op. Income	$136M	—	$121M	—	12.3%
Gross Margin	70.0%	—	50.3%	—	19.7pp
Net Margin	43.0%	—	35.8%	—	7.1pp
EPS (Diluted)	$2.44	—	$1.92	—	26.9%
Free Cash Flow	$131M	—	$97M	—	35.4%

Revenue Flow

Item	Amount
REVENUE	$300M
Cost of Revenue	$90M
GROSS PROFIT	$210M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$74M
Operating Expenses	$74M
Cost & Expenses	$164M
OPERATING INCOME	$136M
Interest Income	$6M
Interest Expense	$7M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$133M
Income Tax Expense	$4M
Net Income from Continuing Ops	$129M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$129M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$129M
D&A	$57M
EBIT	$140M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$300M
Cost of Revenue	$90M
GROSS PROFIT	$210M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$74M
Operating Expenses	$74M
Cost & Expenses	$164M
OPERATING INCOME	$136M
Interest Income	$6M
Interest Expense	$7M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$133M
Income Tax Expense	$4M
Net Income from Continuing Ops	$129M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$129M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$129M
D&A	$57M
EBIT	$140M
EBITDA	$191M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$129M
Depreciation & Amortization	$51M
Stock-Based Compensation	$0
Deferred Income Tax	$4M
Other Non-Cash Items	-$27M
Change in Working Capital	$13M
OPERATING CASH FLOW	$170M
Capital Expenditure	-$39M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$305.7K
NET CASH FROM INVESTING	-$39M
Net Debt Issuance	-$9M
Common Stock Repurchased	-$16M
Common Dividends Paid	-$70M
Other Financing Activities	-$8M
NET CASH FROM FINANCING	-$102M
FREE CASH FLOW	$131M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$125M
Short-Term Investments	$24M
Net Receivables	$17M
Inventory	$0
Other Current Assets	$178.5K
TOTAL CURRENT ASSETS	$165M
PP&E (Net)	$50M
Goodwill	$0
Intangible Assets	$959M
Long-Term Investments	$5M
Tax Assets	$269M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.5B
Account Payables	$14M
Short-Term Debt	$37M
Deferred Revenue	$2M
Other Current Liabilities	$7M
TOTAL CURRENT LIABILITIES	$70M
Long-Term Debt	$70M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$34M
TOTAL NON-CURRENT LIABILITIES	$104M
TOTAL LIABILITIES	$174M
Common Stock	$888M
Additional Paid-In Capital	$888M
Retained Earnings	$331M
Treasury Stock	-$96M
Accum. Other Comp. Income	$153M
Other Equity	-$888M
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$107M
Net Debt	-$18M