PR Newswire | Oct 25, 2021 04:31PM EDT

10/25 15:30 CDT

ASUR Reports 3Q21 Financial ResultsPassenger traffic in 3Q21 continued to gradually recover reaching 98.6% of 3Q19 pre-pandemic levels MEXICO CITY, Oct. 25, 2021

MEXICO CITY, Oct. 25, 2021 /PRNewswire/ -- Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE: ASR; BMV: ASUR) (ASUR), a leading international airport group with operations in Mexico, the U.S., and Colombia, today announced results for the three- and nine-month periods ended September 30, 2021.

3Q21 Highlights1

* Total passenger traffic increased 231.2% year over year (YoY) reflecting the impact of the pandemic which impacted travel demand since mid-march 2020 and reached 98.6% of 3Q19 pre-pandemic levels. By country of operations, 3Q21 passenger traffic compared to 3Q19 levels were as follows: * Mexico: recovered to 94.9% of 3Q19 levels, with domestic and international traffic at 90.7% and 99.8% of 3Q19 levels, respectively * Puerto Rico (Aerostar): increased 16.3%, with domestic traffic up 21.6% more than offsetting the 26.8% decline in international traffic * Colombia (Airplan): recovered to 95.3% of 3Q19 traffic, with domestic and international traffic reaching levels of 95.6% and 93.6% of 3Q19 traffic, respectively.

* Revenues increased 98.9% YoY to Ps.4,866.1 million, and were up 18.5% when compared to 3Q19. Excluding construction revenues, revenues increased 154.1% YoY, and 11.2% against 3Q19. * Consolidated commercial revenues per passenger were Ps.117.6 in 3Q21. * Consolidated EBITDA increased 285.8% YoY to Ps.2,913.0 million and 17.7% from pre-pandemic levels of 3Q19. * Adjusted EBITDA Margin (excludes the effect of IFRIC 12) increased to 67.7% from 44.6% in 3Q20 and compared to 64.0% in 3Q19. * Closed the quarter with cash & cash equivalents of Ps.11,042.6 million and Net Debt-to-LTM EBITDA at 0.4x. * Principal debt payments of Ps.353.7 million, or 2.5% of Total Debt, mature in 4Q21. * On October 1, 2021 the Company paid an ordinary net cash dividend of Ps.8.21 per common share.

Table 1: Financial & Operational Highlights ^1

Third Quarter % Chg 2020 2021

Financial Highlights

Total Revenue 2,447,072 4,866,106 98.9

Mexico 1,699,712 3,383,896 99.1

San Juan 681,538 999,885 46.7

Colombia 65,822 482,325 632.8

Commercial Revenues per PAX 137.4 117.6 (14.4)

Mexico 114.7 136.3 18.9

San Juan 186.1 152.3 (18.2)

Colombia 282.0 40.0 (85.8)

EBITDA 755,074 2,913,013 285.8

Net Income 147,027 1,957,451 1,231.4

Majority Net Income 105,155 1,793,950 1,606.0

Earnings per Share (in pesos) 0.3505 5.9798 1,606.0

Earnings per ADS (in US$) 0.1705 2.9082 1,606.0

Capex 834,473 601,180 (28.0)

Cash & Cash Equivalents 6,012,746 11,042,598 83.7

Net Debt 8,732,330 3,033,148 (65.3)

Net Debt/ LTM EBITDA 1.5 0.4 (79.6)

Operational Highlights

Passenger Traffic

Mexico 3,023,846 7,909,155 161.6

San Juan 963,677 2,739,163 184.2

Colombia 146,678 3,043,742 1,975.1

^1 Unless otherwise stated, all financial figures discussed in thisannouncement are unaudited, prepared in accordance with International FinancialReporting Standards (IFRS), and represent comparisons between the three- andnine-month periods ended September 30, 2021, and the equivalent three- andnine-month periods ended September 30, 2020. All figures in this report areexpressed in Mexican pesos, unless otherwise noted. Tables state figures inthousands of Mexican pesos, unless otherwise noted. Passenger figures forMexico and Colombia exclude transit and general aviation passengers, unlessotherwise noted. Commercial revenues include revenues from non-permanent groundtransportation and parking lots. All U.S. dollar figures are calculated at theexchange rate of US$1.00 = Mexican Ps.20.5623 (source: Diario Oficial de laFederaci?n de M?xico), while Colombian peso figures are calculated at theexchange rate of COP184.2500 = Mexican Ps.1.00 (source: Investing). Definitionsfor EBITDA, Adjusted EBITDA Margin, Majority Net Income can be found on page 20of this report.

3Q21 Earnings Call



Date & Time: Tuesday, October 26, 2021 at 10:00 AM US ET; 9:00 AM CT



Dial-in: 1-866-248-8441 (US & Canad?); 1-323-289-6581 (Internacional y M? xico); Access Code: 9826046



Replay: Tuesday, October 26, 2021 at 1:00 PM US ET, ending at 11:59 PM US ET on Tuesday, November 2, 2021. Dial-in number: 1-844-512-2921 (US & Canada); 1-412-317-6671 (International & Mexico). Access Code: 9826046

For a full version of ASUR's Third Quarter 2021 Earnings Release, please visit: http://www.asur.com.mx/en/investor-relations/financial-information.html

Definitions

Concession Services Agreements (IFRIC 12 interpretation).In Mexico and Puerto Rico, ASUR is required by IFRIC 12 to include in its income statement an income line, "Construction Revenues," reflecting the revenue from construction 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. Other than Aerostar, ASUR owns (directly or indirectly) 100% of its subsidiaries.

EBITDA means net income before provision for taxes, deferred taxes, profit sharing, non-ordinary items, participation in the results of associates, comprehensive financing cost, and depreciation and amortization. EBITDA should not be considered as an alternative to net income, as an indicator of our operating performance or as 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 Margin is calculated by dividing EBITDA by total revenues excluding construction services revenues for Mexico, Puerto Rico, and Colombia and excludes the effect of IFRIC 12 with respect to the construction or improvements to concessioned assets. ASUR is required by IFRIC 12 to include in its income statement an income line reflecting the revenue from construction 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. In Mexico and Puerto Rico, 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, as the increase in revenues that relates to Construction Revenues does not result in a corresponding increase in EBITDA. In Colombia, construction revenues do have an impact on EBITDA, as construction revenues include a reasonable margin over the actual cost of construction. Like EBITDA Margin, Adjusted EBITDA Margin should not be considered as an indicator of our operating performance or as an alternative to cash flow as an indicator of liquidity and 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 portfolio of concessions to operate, maintain, and develop 16 airports in the Americas. These comprise nine airports in southeast Mexico, including Cancun Airport, the most important tourist destination in Mexico, the Caribbean, and Latin America, and six airports in northern Colombia, including Jos Mara Crdova International Airport (Rionegro), the second busiest airport in Colombia. ASUR is also a 60% JV partner in Aerostar Airport Holdings, LLC, operator of the Luis Muoz Marn International Airport serving the capital of Puerto Rico, San Juan. San Juan's Airport is the island's primary gateway for international and mainland-US destinations and was the first and currently the only major airport in the US to have successfully completed a public-private partnership under the FAA Pilot Program. Headquartered in Mexico, ASUR is listed both on the Mexican Bolsa, where it trades under the symbol ASUR, and on the NYSE in the U.S., where it trades under the symbol ASR. One ADS represents ten (10) series B shares. For more information, visit www.asur.com.mx

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. In particular, the impact of the COVID-19 pandemic on global economic conditions and the travel industry, as well as on the business and results of operations of the Company in particular, is expected to be material, and, as conditions are changing rapidly, is difficult to predict. 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.

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