Today, Southeast Airport Group, formally known as Grupo Aeroportuario del Sureste (NYSE:ASR), S.A.B. de C.V., submitted a Form 6-K to the United States Securities and Exchange Commission (SEC). The filing, dated July 8, 2024, complies with the SEC's regulations for foreign private issuers under the Securities Exchange Act of 1934.
The document confirms that the airport services provider, based in Mexico and incorporated under the jurisdiction of México, D.F., has opted to file annual reports using Form 20-F. The company has not activated the provision to furnish additional information under Rule 12g3-2(b), as indicated by the absence of a checkmark in the corresponding box.
Adolfo Castro Rivas, the Chief Executive Officer of Southeast Airport Group, signed the report, thereby fulfilling the requirement that an authorized company representative authenticate such filings. The business address listed is Bosque de Alisos No. 47A– 4th Floor, Bosques de las Lomas, 05120 México, D.F., which serves as the company's principal executive offices.
The 6-K form is a routine disclosure that provides the SEC and investors with updated information on foreign companies that have securities trading in the United States. This filing does not detail specific financial figures or operational updates but serves as a procedural communication to maintain compliance with SEC regulations.
Investors and stakeholders in Southeast Airport Group can access this document through the SEC's EDGAR database for review. The company, identified under the Central Index Key (CIK) number 0001123452, operates within the airports, flying fields, and airport terminal services industry, classified under the Standard Industrial Classification (SIC) code 4581.
The information presented in this article is solely based on the SEC filing and does not include any additional statements or endorsements from the company or other sources.
In other recent news, Grupo Aeroportuario del Sureste (ASUR) reported robust Q1 2024 results, with a record high of 18.6 million passengers, marking a 4% year-over-year increase. The company's total revenues surged by 14% to over MXN 7 billion, primarily driven by Mexico's contribution of 76%.
Despite challenges like Pratt & Whitney engine issues and capacity reductions at Mexico City Airport, ASUR foresees further traffic growth and is focusing on enhancing passenger experience. The company's CEO, Adolfo Castro, discussed future expansions, including Terminal 4 and the reconstruction of Terminal 1, expected to proceed without disrupting airport operations.
ASUR's EBITDA grew by 13% YoY to MXN 5.1 billion, and cash and cash equivalents increased by 21% YoY to nearly MXN 17 billion. The company has plans to distribute ordinary and extraordinary cash dividends of MXN 10 each. These are recent developments indicating ASUR's commitment to growth and passenger satisfaction.
InvestingPro Insights
In light of Southeast Airport Group's recent SEC filing, investors looking for a deeper understanding of the company's financial health might consider the latest data and insights from InvestingPro. With a robust market capitalization of $9.06 billion and a Price/Earnings (P/E) ratio standing at 15.15, the company showcases stability in its valuation metrics. The P/E ratio has remained fairly consistent, with a slight adjustment to 15.06 when looking at the last twelve months as of Q1 2024.
An InvestingPro Tip that stands out for the Southeast Airport Group is its impressive gross profit margin, which has reached 61.73% in the last twelve months as of Q1 2024. This figure highlights the company's efficiency in managing its cost of goods sold and its ability to retain a significant portion of revenue as gross profit. Moreover, the company's dividend yield is notably high at 5.36%, and it has increased its dividend for four consecutive years, indicating a commitment to returning value to shareholders.
For those interested in further insights, InvestingPro offers additional tips for Southeast Airport Group, including its ability to cover interest payments with cash flows and its status as a prominent player in the Transportation Infrastructure industry. To explore these tips and more, investors can visit https://www.investing.com/pro/ASR. Plus, by using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, gaining access to a total of 11 additional InvestingPro Tips that could further inform investment decisions.
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