I Investor Relations t R l ti November 2007 Adolfo Castro Chief - - PowerPoint PPT Presentation

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I Investor Relations t R l ti November 2007 Adolfo Castro Chief - - PowerPoint PPT Presentation

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I Investor Relations t R l ti November 2007 Adolfo Castro Chief Financial Officer Company Operational Financial S trategic Contact Overview Information Information Matters Information Company Overview Company Overview ASUR is

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SLIDE 1

I t R l ti Investor Relations

November 2007

Adolfo Castro

Chief Financial Officer

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SLIDE 2

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Company Overview

ASUR is …

  • Company with a 50‐year concession period that

Company Overview

  • perates 9 airports in the southeast region of

Mexico

  • The first listed airport group in Mexico &

Americas

CANCÚN CANCÚN

Americas

  • World‐class company receiving technical

assistance from the strategic partner.

MÉRIDA VERACRUZ MINATITLÁN MÉRIDA VERACRUZ MINATITLÁN

Historical Key Achievements

  • Passenger growth
  • Solid financial position (strong cash flow,

COZUMEL VILLAHERMOSA COZUMEL VILLAHERMOSA

p ( g , debt‐free)

  • Aggressive & successful commercial strategy
  • Compliance with the Investment Programme
  • Quality improvement in installations and

TAPACHULA HUATULCO OAXACA TAPACHULA HUATULCO OAXACA

  • Quality improvement in installations and

services – “the best and the cheapest”

  • Long‐term vision
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SLIDE 3

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Peers: Some of the private airports / airport groups in the world Peers: Some of the private airports / airport groups in the world listed on stock exchanges

Beijing Airport BAA

UK d d

Copenhagen Airports

Denmark Listed on Copenhagen SE

Frankfurt Airport

Germany Listed on Frankfurt SE

Beijing Airport

China Listed on Hong Kong SE

Guangzhou Airport

China Listed on Hong Kong SE

Vienna Airport

Austria Listed on Frankfurt SE Listed on London SE

Ljubljana Airport

Slovenia Listed on Ljubljana SE

TAV Airports Hold

Turkey Listed on Istanbul SE

OMA

Mexico

BMV, NASDAQ

GAP

Mexico

BMV, NYSE

Hainan Meilan

China Listed on Hong Kong SE Listed on Ljubljana SE

Thailand Airports

Thailand Listed on Thailand SE

Macquarie Airports

Australia Listed on Australian SE

Listed on NYSE & BMV

Auckland Airport

New Zealand Listed on New Zealand SE

ASUR and GAP are the only Airport Groups listed on NYSE

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SLIDE 4

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Merida International International Airport

Investor friendly Corporate Governance

Corporate Governance Structure in ASUR

  • 80% free float
  • Majority of Independent Board Members

Company Shareholders

Board of Directors

Majority of Independent Board Members

  • Four committees mainly led by Board Members

C li i h S b O l i

Audit Committee Nominations & Compensations Committee Operations Acquisitions and Contracts

  • Compliance with Sarbanes‐Oxley requirements

Executive Management Committee and Contracts Committee

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SLIDE 5

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Passenger growth Passenger growth

Historical passenger growth ...

l ffi For the period

14.0 16.0

Domestic International

Total Passenger Traffic ‐ (million PAX) 1990 – 2006 the passenger traffic Compounded Annual Growth Rate was 5.6%:

10.0 12.0

  • ns)

Domestic International

Growth Rate was 5.6%:

7.4% ‐ international traffic 4.3% ‐ domestic traffic

6.0 8.0

PAX (millio

2.0 4.0 0.0

90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06

(4.1) 14.0 10.9 (2.2) (1.8) 7.7

% of change YOY

5.6

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SLIDE 6

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Passenger traffic recovery after Wilma Passenger traffic recovery after Wilma

Last 12 months passenger traffic:

  • After Hurricane Wilma: 12.5 million.

F b 2006 i 14 5 illi (100% f h hi h l l 14 5 illi )

48 52 16 0 17.0

  • February 2006 it was 14.5 million (100% of the highest level 14.5 million)

36 40 44 48 15.0 16.0

ADS clos gers

Last 12 months passengers ADS closing price of the month 24 28 32 13.0 14.0

sing price in U Million Passen

8 12 16 20 11 0 12.0

USD M

8 11.0

Sep‐00 Nov‐00 Ene‐01 Mar‐01 May‐01 Jul‐01 Sep‐01 Nov‐01 Ene‐02 Mar‐02 May‐02 Jul‐02 Sep‐02 Nov‐02 Ene‐03 Mar‐03 May‐03 Jul‐03 Sep‐03 Nov‐03 Ene‐04 Mar‐04 May‐04 Jul‐04 Sep‐04 Nov‐04 Ene‐05 Mar‐05 May‐05 Jul‐05 Sep‐05 Nov‐05 Ene‐06 Mar‐06 May‐06 Jul‐06 Sep‐06 Nov‐06 Ene‐07 Mar‐07 May‐07 Jul‐07

Note: Passengers excluding transit and general aviation

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SLIDE 7

Company Overview Operational Information Financial Information S trategic Matters Contact Information

49 New Routes during 2007

YYC YQM

21 new DOMESTIC routes 28 new INTERNATIONAL routes

MTY LGW BRU YYC YSB YUL YHZ YQM BOS JFK EWR YXU RFD DEN CVG GDL VER PAZ TAM MTT CME MID CUN CZM CTM PBC MEX TLC BRU BSL BCN SAT MIA MCO MEM LIS HUX OAX VSA TGZ PBC TLC CZM CUN MID HUX

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SLIDE 8

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Passenger mix: Passenger mix:

North America represents 88.2% of ASUR’s passenger traffic …

R i 99 00 01 02 03 04 05 06

% change % of CAGR

Passenger traffic by Origin – Destination ‐ (million PAX)

Region 99 00 01 02 03 04 05 06

g '06 vs '05 total '06 '99‐'06

Mexico 5.0 5.0 4.9 4.8 5.3 5.6 5.5 5.9

8.2 43.4 2.4

USA 4.1 4.6 4.5 4.4 4.9 5.9 5.6 5.3

(5.0) 38.7 3.7

Europe 0.7 0.9 0.9 0.8 1.0 1.3 1.2 1.3

11.2 9.6 10.3

Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8

9.7 6.1 16.2

L i A i Latin America (ex. Mexico) 0.5 0.5 0.5 0.3 0.3 0.3 0.3 0.3

(8.7) 1.9 (9.6)

Asia and Others 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

162.3 0.4 14.8

TOTAL 10.6 11.4 11.2 11.0 12.2 13.9 13.3 13.7 2.9 100 3.7 TOTAL 10.6 11.4 11.2 11.0 12.2 13.9 13.3 13.7 2.9 100 3.7

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SLIDE 9

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Passenger statistics worldwide: ACI Passenger statistics worldwide: ACI

Note: Data in 000´

PaxFlash Summary

JULY 2007 STATS

Note: Data in 000

AFR 5,135 18.0 33,050 14.8 55,914 12.3 ASP 56 846 9 3 365 298 7 3 624 652 7 5 TOTAL PASSENGERS STATS REGIONS MONTH % YOY YTD JULY 2007 % YOY YE JULY 2007 % YOY ASP 56,846 9.3 365,298 7.3 624,652 7.5 EUR 90,211 6.1 513,415 5.5 878,194 5.3 LAC 11,660 4.9 76,264 6.3 126,211 4.9 MEA 6,789 20.3 40,144 13.3 66,546 11.6 NAM 89,231 3.6 555,641 2.7 936,125 1.9 ACI 259 872 6 4 1 583 812 5 3 2 687 642 4 9 ACI 259,872 6.4 1,583,812 5.3 2,687,642 4.9

DEFINITIONS: INTERNATIONAL (000s). TRAFFIC (PASSENGERS) PERFORMED BETWEEN THE DESIGNATED AIRPORT AND AN AIRPORT IN ANOTHER COUNTRY/TERRITORY. DOMESTIC (000s). TRAFFIC (PASSENGERS) PERFORMED BETWEEN TWO AIRPORTS LOCATED IN THE SAME COUNTRY/TERRITORY.

World passenger traffic rises steadily

COU / O TOTAL (000s). INTERNATIONAL + DOMESTIC PASSENGERS + DIRECT TRANSIT PASSENGERS COUNTED ONCE (when breakdown is available). TOTAL ≠ INTERNATIONAL + DOMESTIC

p g ff y

Passenger demand continues to increase in July 2007 with the world airports' reporting a 6 percent increase compared to July 2006. International passenger traffic rose by 7 percent while domestic traffic increased by 6 percent.

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SLIDE 10

Key Performance Indicators

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Key Performance Indicators

Accumulated Annual Growth Rate 7 years

(1999 2006) (1999‐2006) Passenger Traffic 3.78 % Total Revenues 8.63 % EBITDA 9.84 % Net Income 14.16 % Average EBITDA Margin 58.68 %

Terminal 3 – Cancun International Airport

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Company Overview Operational Information Financial Information S trategic Matters Contact Information

Terminal 3 – Cancun International Airport

Financial Information

CONCEPT 2006 2005 DIF %

Passengers (Thousand) ** 13,779.9 13,321.3 3.4 Non commercial revenues 1,697.9 1,626.9 4.4 Commercial revenues 541.0 530.5 3.9 Total revenues 2,238.9 2,147.5 4.3 C i l t t l % 24 2 24 7 (2 0) Commercial vs. total % 24.2 24.7 (2.0) Commercial Revenues per pax Usd 3.56 3.53 0.9 EBITDA 1,317.5 1,283.5 2.7 EBITDA margin % 58.8 59.8 (1.6)

Million pesos, as of December 31th, 2006

1 $US=Ps 10.8116 ** Excluding passengers in transit and general aviation

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SLIDE 12

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Commercial Revenue per Passenger: Commercial Revenue per Passenger:

Successful commercial strategy

4.3 4.3 9

4.5 5.0

Commercial Revenues per passenger by quarter ‐ (USD)

1 .2 2.9 3.2 3.1 3.1 3.4 3.4 3.3 3.4 3.3 3.2 3.9

2 5 3.0 3.5 4.0

ssenger 0.9 0.9 0.9 1.4 1.4 1.5 1.6 1.7 1.8 1.8 1.9 2.1 2.

1.0 1.5 2.0 2.5

USD per pas

0.0 0.5

1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07

2006: Affected by the lack of terminal space at picks, change in the mix of passengers and additional security measures (liquids, gels)

Commercial area at T3 Cancun International Airport

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SLIDE 13

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Investment Programme: Investment Programme:

MDP 2004 – 2008

113 82

100 120

50 36 32 32 58 82

60 80

23 36 26 32 32 22

20 40 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Terminal 3 and the second runway are the most

Terminal 3 – Cancun International Airport

Terminal 3 and the second runway are the most important projects, both for Cancun airport

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SLIDE 14

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Financial Highlights Financial Highlights

2003 2004 2005 2006 INCOME STATEMENT Total Revenues 153 197 199 207 C i l R 24 40 48 50 Commercial Revenues 24 40 48 50 Operating Income 53 83 77 77 Profit Before Tax 55 80 79 78 Net Profit 29 60 54 49 Net Profit per ADS in dollars 0.97 2.00 1.80 1.63 BALANCE SHEET Current Assets 107 143 179 152 Total Assets 1253 1298 1353 1382 Total Liabilities 66 72 100 107 Stockholders Investment 1187 1226 1254 1275 Stockholders Investment 1187 1226 1254 1275 CASH FLOW Cash at the beggining of the year 54 74 116 148 Operating Cash Flow 69 112 119 95 Financial Cash Flow

  • 13
  • 22
  • 26
  • 27

Investments

  • 35
  • 49
  • 61
  • 101

Cash at the end of the year 74 116 148 115 OTHERS Passengers in millions * 12.5 13.8 13.3 13.8 EBITDA 90 123 119 122

Million Usd, as of December 31th, 2006 1 $US=Ps 10.8116 ** Excluding passengers in transit and general aviation.

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SLIDE 15

Company Overview Operational Information Financial Information S trategic Matters Contact Information

Shareholder value creation

Merida International Airport

9 10 50 60

ASUR ADS Price & EBITDA per PAX

ASUR ADS Price Sept 29th, 2000: $15.19 usd Nov 9th, 2006: $47.85 usd

Di id d P id S ’00 S ’07 $3 66

d

5 6 7 8 30 40 50 er PAX (USD) ng Price (USD)

ASUR ADS vs. Dow Jones (variation)

Dividends Paid Sept ’00 – Sept’07: $3.66 usd

1 2 3 4 10 20 EBITDA pe ADS Closin ADS Closing Price EBITDA per PAX

ASR (NYSE) Dow Jones

1 ‐

1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07

Strong correlation between ADS price & EBITDA per PAX

29/09/2000 07/09/2007 0%

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SLIDE 16

Company Overview Operational Information Financial Information Strategic Matters Contact Information

What’s next?

Hold Baggage Screening facility at Cancun International Airport

  • Continue improving Commercial Revenues
  • Obtain the concession for the RM airport

p

  • Expand the traffic growth opportunities
  • Continue with the study of business opportunities
  • World Class service – ASQ Programme
  • Analysis of the Equity Structure
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SLIDE 17

Company Overview Operational Information Financial Information S trategic Matters Contact Information

ADOLFO CASTRO

CFO

Ph:+(52) 55 52‐84‐04‐08

SUSAN BORINELLI

BREAKSTONE & RUTH

Ph:+(646)452‐2333 Email: acastro@asur.com.mx Email: sborinelli@breakstoneruth.com