Safe Harbor Statement Strategic Matters Some of the statements - - PowerPoint PPT Presentation

Safe Harbor Statement

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Page 2

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 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

• therwise.

Management Team

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Long Serving Experienced Management Fernando Chico Pardo

Chairman of the Board of Directors

with company since 2005

Adolfo Castro Rivas

Chief Executive and Financial Officer Head of Investor Relations

with company since 2000

Claudio Góngora Morales

General Counsel

with company since 1999

Alejandro Pantoja López

Chief Infrastructure Officer

with company since 2001

Agustín Arellano Rodríguez

Director of International Projects

with company since 2010

Manuel Gutiérrez Sola

Chief Commercial Officer

with company since 2000

Carlos Trueba Coll

General Director of Cancún Airport

with company since 1998

Héctor Navarrete Muñoz

General Director of Regional Airports

with company since 1999

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Investment Highlights

• Long-term concession investments in attractive locations in

Mexico

• Established regulatory framework
• Track record of consistent passenger growth
• Balanced mix of international and domestic traffic
• Successful, market leading commercial business strategy
• Strong cash flow profile and solid balance sheet
• Robust corporate governance and board of directors with

experienced management

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

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Key value drivers

Focus on Corporate Social Responsibility

• Member of Dow Jones and Bolsa Mexicana de Valores

sustainability indices

• Active participant of United Nations Global Compact, in Mexico

and internationally

• Certified by CEMEFI as Socially Responsible Company (6th year)
• Airports’ Environmental Management Systems certified under

ISO 14001

• Environmental Compliance certification from Mexican

Environmental Protection Agency

• Focus on quality of life for employees and community

relations

• Strict standards of corporate governance and business ethics

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Page 5

Sustainability is a key strategy in

• ur business

model

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Airport operations in attractive locations in Mexico and the Caribbean

Geographical presence

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Cancún: Close to major U.S. destinations

Illustrative flight times from various destinations

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

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Private airports / airport groups listed on global stock exchanges

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

ASUR and GAP are the only Latin American Airport Groups listed on NYSE

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Ownership overview

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

FCHP & ADO

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Established regulatory framework with a track record of rate setting precedents

Note: 2015 Revenues per PAX, expressed In nominal pesos as of Dec 2015; passenger traffic excludes transit and general aviation passengers

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Dual Till System

Regulated + Non Regulated Revenues

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ASUR adjusts specific tariffs / prices once every six months using the Mexican producer price index, excluding petroleum).

Visibility of capital expenditure requirements through 2018

1 Committed investments from May 1999 to Dec 2000 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 Mexican construction price index in accordance with the terms of the Master Development Plan.

• Key projects completed:

 1999: Government capex backlog  2005: 9/11 security standards  2006-2007:Terminal 3 and second

runway in CUN

 2011: Passenger flow separation in CUN  2011-2013: Terminal building expansion:

HUX, MID, OAX and VSA

• Key future projects:

 New Terminal 4 in CUN  Terminal 2 & 3 expansion in CUN  Terminal building expansion VER  Required works for Airport Certification

(9 airports)

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

16,873 million pesos invested 1999-2015 2016 -2017 Construction

• f Terminal 4

in Cancún

• Visibility on capital expenditure requirements, as maximum rate negotiated along

with Master Development Plan (MDP) is a function of programmed capex

MDP investment commitments

(expressed in December 2015 Million Pesos) Page 11

ASUR’s airports are among the most frequented in Mexico

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Mexican Airports by PAX (thousand PAX)

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 concessions and the Mexico City airport; PAX traffic excludes transit and general aviation PAX

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Revenue and passenger breakdown

by business by airport

Ps.6,414M

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 excludes transit and general aviation.

by airport by type

Cancun

75.0%

Merida

6.3%

Villahermosa

4.9%

Other 13.8% Aeronautical 61% Non-aeronautical 39% Cancun

80.0%

Merida

5.4%

Villahermosa

3.6%

Other 11.1% International

55%

Domestic

45%

Regulated

64%

Commercial

36% Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

2015 Revenues

26.1M

2015 PAX 2015 Revenue per PAX: Ps.245

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1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 3M15 3M16

ASUR traffic evolution

CAGR ’90–’15 (INT’L):

7.1%

CAGR ’90–’15 (DOM):

5.6%

Source: ASA from 1990-1998. ASUR management thereafter Note: Transit and general aviation excluded

CAGR ’90–’15 (Cancun):

7.8%

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

1990 – 2015 CAGR: 6.4%

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ASUR has a balanced mix of domestic and international traffic

1 Note: % of total refers to 2015 figure

Note: Excludes transit and general aviation;

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Passenger traffic by Origin – Destination (million PAX)

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Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15

% Change 15 vs. 14 % of total 2015 1 % CAGR 99-15

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 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

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 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

Historically, traffic has recovered and grown after exogenous events

EVENT RECOVERY AFTER Sep ‘01: 9/11 13 months Oct ‘05: H. Wilma 16 months May ‘09: H1N1 26 months Type of PAX Historical Max. (%) Mar 16 vs. Hist. Max Domestic Mar’16

0.0%

International

Mar’16

0.0%

TOTAL Mar’16

0.0%

12.0 M 14.7 M 26.7 M

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Passenger traffic during last 12- months at each specific date (million PAX)

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jun-08 dic-15

New Airplanes Var. %

INTERJET 11 60 49

445%

VOLARIS 17 56 39

229%

AEROMEXICO 94 125 31

33%

VIVAAEROBUS 7 21 14

200%

AEROMAR 14 16 2

14%

MAGNICHARTERS 5 12 7

140%

TAR 7 7

100%

GLOBAL AIR 4 1 (3)

(75)%

Subtotal 152 298

146

96%

jun-08 dic-15

Lost Airplanes

MEXICANA 78 (78) ALMA 15 (15) AEROCALIFORNIA 22 (22) AVOLAR 8 (8) ALADIA 3 (3) AVIACSA 26 (26) NOVA AIR 3 (3)

Subtotal 155

(155) a) Existing Airlines b) Suspended Airlines

• 180
• 150
• 120
• 90
• 60
• 30

30 60 90 120 150 50 100 150 200 250 300 350 400

Lost vs. New Airplanes Available airplanes Available airlpanes Lost airplanes - suspended airlines New airplanes - existing airlines

(155) 146

307 298

Jun-08 Sep-10 Dec-15

After 6.5 years, Mexico hasn’t recovered the level of Airplanes Available

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

2016 Industry Estimates: 335 available airplanes

Available Airplanes in Mexico

Source: www.airfleets.net www.aerotransport.org

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Selected Int ASUR GAP OMA

Successful commercial strategy

2015 commercial revenue per PAX

• vs. peers (US$/PAX) – converted at an average

FX of PS. 17.2487/US$ for Mexican Airports

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 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 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

Commercial revenues per passenger per quarter evolution

(Pesos / Passenger in Mexican pesos as of date reported) Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Nominal CAGR 2000 – 2015: 22.9% (Mexican CPI CAGR 2000-2015: 4.2%)

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Track record of consistent revenue growth and profitability

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Total Revenues CAGR 1999 – 2015: 13.1%

Not including Revenues from Construction Services

Growth rates: ’99 – ’15 CAGR (%)

Passenger traffic

5.8%

Total revenues

13.1%

EBITDA

15.1%

Net income

20.5%

Mexican CPI

4.5% EBITDA & EBITDA Margin (Ps. Mm)

2010 - 2015 EBITDA margin calculated without Revenues from Construction Services for comparability with previous periods

CAGR ’06–’15: 14.7%

1999 – 2015 Revenues

Figures for 2010, 2011, 2012, 2013, 2014 & 2015 reflect adoption of MIFRS-17 Note: From 1999 to 2007 figures in nominal Mexican pesos adjusted for inflation as of Dec. 31st of each year Source for Mexican CPI: IMF; Note: CAGRs calculated in Mexican peso terms; Revenues from Construction Services not included; passenger figures exclude passengers in transit or general aviation

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ASUR GAP OMA

ASUR has positively differentiated itself…

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

ACI has named Cancun as the best airport in Latin America for 4 consecutive years

CAGR in Revenues 2006 – 2015 (%) CAGR in EBITDA 2006 – 2015 (%) Revenue per PAX in 2015 CAGR in PAX Traffic 2006 – 2015 (%)

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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). 3. GAP figures exclude 2015 revenues of $983.2 million pesos (equivalent to $35.59 pesos/pax) from Montego Bay Airport Operations & exclude 2015 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 Inn Hotel (Monterrey Airport).

Revenue and cost per PAX comparison (Ps./PAX) 2015 operating cost breakdown (%) Growth rates: ’06 – ’15 CAGR (%)

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.

Passenger traffic

7.4% Cost of services 6.6%

Revenues

12.4% Administrative services 8.1%

EBITDA

14.7% Total costs 5.8%

Net Income

20.9% Mexican inflation (CPI) 4.0%

Mexican GDP growth

2.1%

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

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Revenues have grown at a faster rate than total costs and PAX traffic

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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; 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. 3 Note: 5.61 pesos per share approved by the Annual General Shareholders Meeting on April 26th, 2016 and to be paid on June 15th, 2016. April 26th, 2016

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Dividends evolution 1999 - 2015

EBITDA – CAPEX

(Ps. million)

Net Income, retained earnings and dividends evolution

(Ps. thousands) 1

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2 3 3

Robust corporate governance and board of directors

Board of Directors Audit Committee Operations Committee

Nom & Comp Committee

• Acq. &

Contracts Committee

Fernando Chico Pardo

Founder and President of Promecap

X X X X

José Antonio Pérez Antón

CEO of Grupo ADO

X X X

Roberto Servitje Sendra1

Former Chairman of Grupo Bimbo

X X

Ricardo Guajardo Touche1

Former president of BBVA Bancomer

X X X

Francisco Garza Zambrano1

Former President of CEMEX North America

X X

Guillermo Ortiz Martinez1

Former Governor of Mexico Central Bank for 12 yrs.

X X

Rasmus Christiansen 1

Former CEO of Copenhagen Airports International

X X X

Luis Chico Pardo

Former economist at the Bank of Mexico

X

Aurelio Pérez Alonso

Deputy Chief Executive Officer of Grupo ADO

X X

• 1 Five out of nine board members are independent
• Sarbanes-Oxley compliant
• Four committees led by board members
• Audit committee comprised of 3 independent members of the board of directors

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

High Corporate Governance Standards

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What’s Next?

• Further develop our commercial business
• Improve our passenger volumes
• World Class service – ASQ Program
• Improve capital structure
• Monitor new business opportunities

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Short & Long Term Objectives

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ASUR: International Presence in Puerto Rico

• Luis Munoz Marin International Airport, in San Juan Puerto

Rico (8.8M PAX during 2015)

• Feb 27th, 2013 initiated with the operation of the airport:

Term of 40 years Upfront payment of $615M USD Equity contributions by each of ASUR and Highstar Capital, 118M USD, Subordinated debt from ASUR 100M USD), project risk 350M USD.(preliminary figures) Airlines serving LMM will collectively make aggregate payments

• f $62M USD/yr for the first five years; years 6-40 the payment

will be increased annually by the U.S. CPI 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) Minimal Capital Improvement projects: $34M USD Consolidation: Equity method

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Aerostar:

Limited liability company

• wned by

ASUR (50%) & Highstar (50%)

LMM

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Total income (*) $ 2,049,611 $ 1,600,561 Operating costs and expenses (1,456,915) (1,168,731) Comprehensive financing loss - Net (444,726) (319,514) Contingencies (1,257) Deferred income taxes (46,124) (38,162) Net profit for the period 101,846 72,897 ASUR - 50% Participation 50,923 36,449

2015 2014

Aerostar Financial Information 2014 & 2015

Financial Information Commercial Revenues Operational Information Regulation Company Overview Strategic Matters

Aerostar Total income: $2,049,611

(thousands of Mexican pesos)

LMM

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Condensed Statement of Comprehensive Loss

(thousands of Mexican pesos)

(*) Under IFRS, PFC income is shown in the total income line, while under US GAAP it is shown in the other income line.