Grupo Aeroportuario del Sureste Q4 Earnings Call Highlights

Grupo Aeroportuario del Sureste (NYSE:ASR) executives utilized the company’s fourth-quarter and full-year 2025 net telephone to item a “key inflection point” for the airdrome operator, pointing to caller diversification initiatives alongside softer postulation trends successful immoderate markets and the interaction of currency movements connected reported results.

Chief Executive Officer Adolfo Castro said ASUR completed its enlargement into the U.S. airdrome commercialized marketplace with the acquisition of URW Airports, which has been renamed ASUR US. The transaction closed connected Dec. 11 astatine an endeavor worth of $295 million and gives ASUR vulnerability to “non-regulated commercialized airport” operations successful large U.S. hubs including Los Angeles International Airport, Chicago O’Hare, and New York’s John F. Kennedy International Airport.

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From Dec. 11 done Dec. 31, ASUR US contributed astir MXN 133 cardinal successful revenues and MXN 86 cardinal successful EBITDA. Management cautioned that the archetypal play is not typical of a normalized tally complaint for 2026, noting that the expected opening of the “new Terminal 1” astatine JFK successful the 3rd 4th of the twelvemonth is “an important constituent of the equation” and could thrust a step-up aboriginal successful the year. Castro said ASUR US was included wrong Mexico’s reported results for the quarter, and the institution plans to supply much elaborate disclosure opening with its first-quarter 2026 net report.

ASUR besides reiterated its program to get Motiva’s involvement successful an airdrome portfolio with interests successful 20 airports crossed Brazil, Ecuador, Costa Rica, and Curaçao for a acquisition terms of BRL 5 billion (about $936 million astatine the clip of signing). Castro said the woody would adhd astir 45 cardinal yearly passengers and supply introduction into Brazil, which helium called “the largest aviation marketplace successful Latin America.” The transaction remains taxable to customary closing conditions and regulatory approvals, with closing expected successful the first fractional of 2026. On the call, Castro said the process is going good but acknowledged that immoderate aeronautical support steps tin beryllium slow.

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The CEO said ASUR intends to money the Motiva acquisition with indebtedness and emphasized that the institution remains focused connected “disciplined, accretive acquisitions” portion preserving equilibrium expanse strength.

For the 4th quarter, ASUR handled 17.9 cardinal passengers, up astir 1% twelvemonth implicit year. Castro said Mexico was fundamentally flat, with home postulation somewhat beneath prior-year levels and planetary postulation showing humble improvement. He said Cancun postulation declined 2% during the quarter, portion ASUR’s different 8 Mexican airports posted mid-single-digit growth.