SOUTHEAST AIRPORT (ASR) Company Report

Analyst Coverage

Research analysts who have asked questions during SOUTHEAST AIRPORT earnings calls.

Jens Spiess

Morgan Stanley

5 questions for ASR

Also covers: AERO, CPA, LTM +2 more

Stephen Trent

Citigroup Inc.

5 questions for ASR

Also covers: AAL, AER, AL +14 more

Alan Macias

Bank of America

4 questions for ASR

Also covers: OMAB, PAC, VTMX

Guilherme Mendes

J.P. Morgan Chase & Co.

4 questions for ASR

Also covers: AERO, AZUL, CAAP +5 more

Pablo Monsivais

Barclays

4 questions for ASR

Also covers: AERO, CPA, LTM +3 more

Enrique Sojo

Fundamenta Investments

3 questions for ASR

Also covers: PAC, VTMX

Fernanda Recchia

BTG Pactual

3 questions for ASR

Also covers: CAAP, IOCJY, OMAB +1 more

Alejandro Velez

UBS Group AG

2 questions for ASR

Andres Aguirre Campillo

Grupo Bursátil Mexicano, S.A. de C.V. (GBM)

2 questions for ASR

Andressa Varotto

private investor

2 questions for ASR

Also covers: OMAB

Anton Mortenkota

GBM

2 questions for ASR

Also covers: VTMX

Ebrahim Suarez

Banco Santander, S.A.

2 questions for ASR

Ernst Anton Mortenkotter

Grupo Bursátil Mexicano, S.A. de C.V. (GBM)

2 questions for ASR

Ernst Mortenkotter

Grupo Bursátil Mexicano (GBM)

2 questions for ASR

Also covers: PAC

Frederico Velasci

PRG

2 questions for ASR

Gabriel Himelfarb Mustri

Scotiabank

2 questions for ASR

Also covers: OMAB

Pablo Ricalde

Itaú Corretora de Valores S.A.

2 questions for ASR

Also covers: OMAB, PAC, VIV +1 more

Pablo Ricalde Martinez

Santander

2 questions for ASR

Also covers: PAC, VTMX

Rodolfo Ramos

Bradesco BBI

2 questions for ASR

Also covers: OMAB, PAC, VTMX

Alberto Valerio

UBS Group AG

1 question for ASR

Also covers: AZUL, CPA, CX +4 more

Isabela Salazar Leipen

Grupo Bursátil Mexicano (GBM)

1 question for ASR

Also covers: OMAB

João Francisco Frizo

Goldman Sachs

1 question for ASR

Also covers: AZUL, LTM

Juan Ponce

Bradesco BBI

1 question for ASR

Also covers: OMAB, PAC, VTMX

Latest news

Recent press releases and 8-K filings for ASR.

ASUR Reports Q4 and Full Year 2025 Financials and Strategic Acquisitions

ASR

Earnings

M&A

New Projects/Investments

ASUR completed the acquisition of URW Airports (renamed ASUR US) for $295 million on December 11, 2025, which contributed $133 million in revenues and $86 million in EBITDA from December 11-31, 2025. The company also signed a purchase agreement to acquire Motiva's stake in 20 airports across Latin America for BRL 5 billion (approximately $936 million), with closing expected in the first half of 2026.
For Q4 2025, total revenues were flat year-on-year at MXN 7.3 billion, and consolidated EBITDA decreased nearly 5% to MXN 4.9 billion, resulting in an adjusted EBITDA margin of 66.4%. Net Income for Q4 2025 decreased 22% to MXN 2.7 billion.
For the full year 2025, total revenues increased nearly 19% to MXN 37 billion, EBITDA rose 2% to MXN 20.2 billion (with an adjusted EBITDA margin of 67.8%), and net income declined 20% to MXN 10.9 billion.
ASUR handled 17.9 million passengers in Q4 2025, up nearly 1% year-on-year, and nearly 72 million passengers for the full year. Mexico's traffic was essentially flat, Puerto Rico declined 3%, while Colombia grew nearly 6%. The company closed 2025 with cash and cash equivalents of MXN 11 billion and net debt of MXN 16 billion, representing 0.8x last twelve months EBITDA.

3 days ago

Transcript

ASUR Reports Q4 and Full Year 2025 Results, Details Strategic Acquisitions

ASR

Earnings

M&A

New Projects/Investments

ASUR completed the acquisition of URW Airports (renamed ASUR US) on December 11, 2025, for an enterprise value of $295 million, which contributed $133 million in revenues and $86 million in EBITDA in Q4 2025. The company also signed an agreement to acquire Motiva's airport portfolio for BRL 5 billion (approximately $936 million), expected to close in the first half of 2026 and add 45 million annual passengers.
For Q4 2025, total revenues were flat year-on-year at MXN 7.3 billion, while consolidated EBITDA decreased nearly 5% to MXN 4.9 billion, and net income declined 22% to MXN 2.7 billion.
Full year 2025 results show total revenues increased nearly 19% to MXN 37 billion, EBITDA rose 2% to MXN 20.2 billion, but net income declined 20% to MXN 10.9 billion.
ASUR handled 17.9 million passengers in Q4 2025, up nearly 1% year-on-year, with full year traffic reaching nearly 72 million passengers. Colombia delivered the strongest performance with nearly 6% traffic growth, while Mexico and Puerto Rico traffic moderated.
The company ended 2025 with MXN 11 billion in cash and MXN 16 billion in net debt, equivalent to 0.8x last twelve months EBITDA, and returned MXN 24 billion to shareholders in dividends during the year.

3 days ago

Transcript

ASUR Reports Q4 and Full Year 2025 Results, Details Acquisitions and Dividend Payments

ASR

Earnings

M&A

Dividends

ASUR reported Q4 2025 total revenue of MXN 7.3 billion, flat year-on-year, and EBITDA decreased nearly 5% to MXN 4.9 billion. For the full year 2025, total revenues increased nearly 19% to MXN 37 billion, and EBITDA rose 2% to MXN 20.2 billion.
The company completed the acquisition of URW Airports (renamed ASUR US) for $295 million on December 11th, 2025, which contributed MXN 133 million in revenues and MXN 86 million in EBITDA in the last 20 days of the quarter.
ASUR also signed a purchase agreement for Motiva's stake in 20 airports for BRL 5 billion (approximately $936 million), with closing anticipated in the first half of 2026.
Operating costs in Q4 2025 increased 25% year-on-year, driven by professional fees for acquisitions, higher minimum wages, and a MXN 407 million adjustment in Colombia's concession amortization methodology.
The company paid MXN 24 billion in dividends during 2025 and concluded the year with net debt of MXN 16 billion, equivalent to 0.8x last twelve months EBITDA.

3 days ago

Transcript

ASUR Announces 4Q25 Results

ASR

Earnings

New Projects/Investments

Demand Weakening

Revenues increased 21.6% year-over-year (YoY) to Ps.10,969.1 million in 4Q25.
Consolidated EBITDA decreased 4.8% YoY to Ps.4,867.1 million, and the adjusted EBITDA margin decreased to 66.4% from 69.7% in 4Q24.
Total passenger traffic increased 0.9% YoY in 4Q25, with increases in Colombia and Mexico, and a decrease in Puerto Rico.
ASUR completed the acquisition of its ASUR US airport retail concessions on December 11, 2025, which contributed Ps.133.1 million in revenues and Ps.86.1 million in EBITDA from the acquisition date through December 31, 2025.

3 days ago

6-K

ASUR Announces 4Q25 Results

ASR

Earnings

M&A

New Projects/Investments

For 4Q25, ASUR reported a 21.6% year-over-year increase in revenues to Ps.10,969.1 million, but Consolidated EBITDA decreased 4.8% to Ps.4,867.1 million.
Net Income for 4Q25 declined 21.9% to Ps.2,804,945 thousand, resulting in a 20.5% decrease in Earnings per Share to Ps.9.0457.
Total passenger traffic increased 0.9% year-over-year in 4Q25, driven by growth in Colombia (5.7%) and Mexico (0.1%), partially offset by a decline in Puerto Rico (3.1%).
ASUR's cash position was Ps.11,116.3 million at December 31, 2025, with a Debt to LTM Adjusted EBITDA ratio of 0.8x.
The company completed the acquisition of its ASUR US airport retail concessions on December 11, 2025, which contributed Ps.133.1 million in revenues and Ps.86.1 million in EBITDA from the acquisition date through year-end.

4 days ago

Press Release

ASUR Announces January 2026 Passenger Traffic

ASR

Revenue Acceleration/Inflection

Grupo Aeroportuario del Sureste (ASUR) reported total passenger traffic of 6.7 million passengers for January 2026, marking a 3.6% increase year-on-year compared to January 2025.
Passenger traffic increased by 15.0% in Colombia and 0.9% in Mexico year-on-year, while it decreased by 2.1% in Puerto Rico.
Colombia's growth was primarily driven by an 18.3% increase in domestic traffic, alongside a 5.2% rise in international traffic.
Mexico experienced a 2.5% increase in international traffic, which was partially offset by a 1.2% decrease in domestic traffic.
In Puerto Rico, the overall decrease was due to a 2.6% decline in domestic traffic, despite a 1.8% increase in international traffic.

Feb 9, 2026, 9:38 PM

6-K

ASUR Announces January 2026 Passenger Traffic

ASR

Revenue Acceleration/Inflection

Total passenger traffic for ASUR in January 2026 reached 6.7 million, representing a 3.6% year-on-year increase compared to January 2025.
Colombia experienced significant growth, with passenger traffic increasing by 15.0% year-on-year, primarily due to an 18.3% rise in domestic traffic.
In Mexico, passenger traffic saw a 0.9% increase, driven by a 2.5% rise in international traffic, while domestic traffic decreased by 1.2%.
Puerto Rico's passenger traffic decreased by 2.1% year-on-year, mainly due to a 2.6% decline in domestic traffic.

Feb 9, 2026, 9:30 PM

Press Release

ASUR Shareholders Approve Potential Acquisitions and Debt Financing

ASR

M&A

Debt Issuance

New Projects/Investments

At the General Ordinary Shareholders' Meeting held on January 26th, 2026, shareholders approved the company's ability to acquire all or part of the shares and/or airport operators, including Companhia de Participações em Concessões.
Shareholders also approved the company's authority to contract any type of debt, such as bank loans or securities issuances, to facilitate these strategic initiatives.

Jan 26, 2026, 9:36 PM

6-K

ASUR Announces Resolutions Approved at Shareholders' Meeting

ASR

M&A

Debt Issuance

New Projects/Investments

Shareholders of Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR) approved the acquisition of all or part of shares and/or airport operators, including Companhia de Participações em Concessões.
Shareholders also approved ASUR to contract any type of debt, such as bank loans or securities issuances, to implement financing.
These resolutions were made at the General Ordinary Shareholders' Meeting held on January 26th, 2026, in Mexico City.

Jan 26, 2026, 9:30 PM

Press Release

ASUR Announces December 2025 Passenger Traffic

ASR

Demand Weakening

Grupo Aeroportuario del Sureste (ASUR) reported total passenger traffic of 6.7 million passengers for December 2025, an increase of 0.4% compared to December 2024.
In December 2025, passenger traffic increased by 6.0% in Colombia, but decreased by 0.4% in Mexico and 4.2% in Puerto Rico year-on-year.
For the full year 2025, total passenger traffic reached 71.6 million passengers, representing a 0.3% increase compared to 2024.