UBS CEO Conference www.asur.com.mx February 2006 1
Contents Company Overview Strategic Partner Key Perfomance Revenues Historical Pax Traffic Strategy Master Development Program Financial Highligths Peers 2
Company Overview ASUR is Company with a 50-year concession period that operates 9 airports in the southeast region of Mexico The only listed airport group in Mexico & Americas World-class company receiving technical assistance from the strategic partner. Historical Key Achievements Passenger growth Solid financial position (strong cash flow, debt-free) Aggressive & successful commercial strategy Compliance with the Investment Programme Quality improvement in installations and services the best and the cheapest Long-term vision 3
Strategic Partner Two Players, One Vision ASUR Shareholdings Strategic Partner 15% BMV & NYSE 85% Note: CPH and Fernando Chico own 5% from BMV and NYSE. 7 Board { Members Five Independent from the 85% Francisco Garza Zambrano George Vojta Valentín Diez Gastón Azcarraga Ricardo Guajardo Two from the Strategic Partner Fernando Chico Pardo Kjeld Binger TWO PLAYERS Copenhagen Airports A/S The biggest airport in Scandinavia 19 million PAX Voted Best Airport in the World by passengers on several occasions Among the most inexpensive European airports in terms of cost of services Investments in airports in UK, China and Mexico Fernando Chico Pardo Prominent Mexican businessman and head of investment banking and financial consulting firm, Promecap S.C. Board member of important companies, such as: Grupo Carso, Grupo Financiero Inbursa, Grupo Posadas and the United Nations Pensions Fund ONE VISION 4 TO CREATE THE BEST AIRPORTS IN THE WORLD, OFFERING WORLD-CLASS SERVICES TO PASSENGERS AND EFFICIENT SERVICES TO USERS
Key Performance Key Performance Indicators over the last 5 years Accumulated Annual Growth Rate 5 yrs (1999-2005): Passenger traffic 3.85 % Total Revenues 9.37 % EBITDA 11.11 % Net Income 18.75 % Average EBITDA margin 58.65 % (1999-2005) 5
Revenues Duall till system = Regulated Revenue + Commercial Revenues Regulated Revenues To avoid monopolistic practices, the Federal Government, through the SCT, regulates the Maximum Tariff that the airports in Mexico can collect. It is a maximum amount in pesos expressed by work load unit, were one pax or 100kg of cargo is equal to a work load unit. Every 5 years ASUR agrees investments with the SCT (MDP), and accordingly, the maximum tariff is settled. On December 2003, the maximum rate for each one of the concessions was agreed for the period 2004-2008.. Revenues in ASUR are composed of: Efficiency factor was settled at 0.75% per year. 6 Regulated revenues principally are composed of: a) Operations: Charges to airlines: landing, apron, overnight parking Regulated Revenues Aeronautical Non- Aeronautical b) Passengers: Domestic & International TUA Security Services Fixed: Complementary Services Percentage of: airport services, catering, ramp services, offices.
Revenues Duall till system = Regulated Revenue + Commercial Revenues Revenues in ASUR are composed of: Non Regulated Revenues Non-regulated revenues do not have any limit in terms of a threshold imposed by the Government. Consequently ASUR has the opportunity to increase these revenues. Non-regulated revenues are composed of: 9 Commercial Business Lines Retail Duty Free & Duty Paid Food & Beverages Advertising Banking & Foreign Exchange Car Rental Car Parking Ground Transportation Teleservices Other 7
February Pax Traffic Domestic YoY Domestic pax increase 2.1%, including the decrease in Cancun by the same percentage. Airport February 2005 February 2006 % Change Cancún 131,038 128,290 (2.1) Cozumel 7,084 4,068 (42.6) Huatulco 16,537 22,417 35.6 Merida 62,174 65,568 5.5 Minatitlan 9,271 13,994 50.9 Oaxaca 41,993 41,004 (2.4) Tapachula 14,671 13,722 (6.5) Veracruz 41,442 41,011 (1.0) Villahermosa 50,686 52,686 3.9 Total Domestic 374,896 382,760 2.1 Source: ASA, ASUR 8
February Pax Traffic International YoY Domestic pax decrease 24.8%, principally as a result of the decrease in Cancun by almost the same percentage. International Airport February 2005 February 2006 % Change Cancun 785,373 595,524 (24.2) Cozumel 53,750 22,870 (57.5) Huatulco 11,166 12,779 14.4 Merida 11,509 11,731 1.9 Minatitlan 172 312 81.4 Oaxaca 5,037 6,630 31.6 Tapachula 366 301 (17.8) Veracruz 4,557 5,039 10.6 Villahermosa 3,099 2,936 (5.3) Total International 875,029 658,122 (24.8) Source: ASA, ASUR 9
February Pax Traffic Total The effect of Wilma still in Cancun, a total decrease of 21%, ASUR decrease 16.7% Total Airport February 2005 February 2006 % Change Cancun 916,411 723,814 (21.0) Cozumel 60,834 26,938 (55.7) Huatulco 27,703 35,196 27.0 Merida 73,683 77,299 4.9 Minatitlan 9,443 14,306 51.5 Oaxaca 47,030 47,634 1.3 Tapachula 15,037 14,023 (6.7) Veracruz 45,999 46,050 0.1 Villahermosa 53,785 55,622 3.4 ASUR Total 1,249,925 1,040,882 (16.7) 10 Source: ASA, ASUR
Historical Pax Traffic Compounded Annual Growth Rate for the period 1990-2005 was 5.9% For the period 1990 2005 the compounded Annual Growth Rate for International passenger traffic was 7.9% and 3.7% for domestic 14 Passengers in million 12 10 8 6 Domestic International 4 2 0 90 91 92 93 94 95 96 97 98 99 00 "01 "02 "03 "04 "05 During 2004, 84% of the domestic traffic went to or came from the Mexico City Airport, during 2005 it was just 80% 11 Source: ASA, ASUR
ASUR s pax traffic 2005 vs 2004 decreased by 4.1% 12 Historical Pax Traffic Passenger Traffic of the last twelve months vs. ADS s closing price of the month ADS closing price in USD 43 41 39 37 35 33 31 29 27 25 23 21 19 17 15 13 11 9 Last 12 months Passengers ADS closing price of the month 2001-05 2001-07 2001-09 2001-11 2002-01 2002-03 2002-05 2002-07 2002-09 2002-11 2003-01 2003-03 2003-05 2003-07 2003-09 2003-11 2004-01 2004-03 2004-05 2004-07 2004-09 2004-11 2005-01 2005-03 2005-05 2005-07 2005-09 2005-11 2006-01 ADS Performance Million Passengers 2000-09 2000-11 2001-01 2001-03 Historic performance Passenger Growth Million Passengers excluding general aviation and transit 2005 vs. 2004 4.1% decrease 14.5 14.0 13.5 13.0 12.5 12.0 11.5 11.0 10.6 11.4 11.2 11.0 12.2 13.9 13.3 14 12 10 8 6 4 2 0 PASSENGERS millions 1999 2000 2001 2002 2003 2004 2005
Historical Pax Traffic Since ASUR started to operate the concession, the overall turnaround cost has decreased 8% in a 6-year period During 2005, pax traffic to and from Mexico was almost equal to the USA Region 99 "00 "01 "02 "03 "04 "05 %Change 05 vs 04 %of Total 2005 CAGR 1999-2005 Mexico 5.0 5.0 4.9 4.8 5.3 5.6 5.5 (2.3) 41.2 1.5 USA 4.1 4.6 4.5 4.4 4.9 5.9 5.6 (5.9) 41.9 5.3 Europe 0.7 0.9 0.9 0.8 1.0 1.3 1.2 (6.0) 8.9 10.2 Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 (4.8) 5.8 17.3 Latinamerica (ex. Mexico) 0.5 0.5 0.5 0.3 0.3 0.3 0.3 0.7 2.1 (9.7) Asia and Others 0.0 0.0 0.0 0.0 0.0 0.0 0.0 171.4 0.1 0.0 TOTAL 10.6 11.4 11.2 11.0 12.2 13.9 13.3 (4.2) 100.0 3.8 International Flight TURNAROUND COST USD Cost by AirCraft $400 Domestic Flight TURNAROUND COST USD Cost by AirCraft $600 Turnaround Cost per PAX (usd) International Flight Domestic Flight $2.9 $1.4 Type of Aircraft: 737-300 Load Factor: 80% = 151 PAX Includes: landing, apron, overnight parking, boarding bridges, shuttle, security, etc. $300 $200 $100 $232 $236 $238 $264 $265 $211 $209 $210 $208 $500 $400 $300 $200 $496 $505 $510 $563 $570 $447 $443 $446 $440 13 Jan 99 Mar-99 Apr 99 Nov 99 Jun-01 Nov-03 Jan 04 Aug 04 Apr 05 Jan 99 Mar-99 Apr 99 Nov 99 Jun-01 Nov-03 Jan 04 Aug 04 Apr 05
Strategy for 2006 Aggressive Commercial & Investment Plans Commercial Strategy Continue improving commercial revenues Route Development Achieve new routes to our airports Investments A commitment to comply with the MDO (the highest amount ever in the concession period) Service to our Customers World class service Equity Structure Continue with analysis Bussines Oportunities Continue with the study 14
MDP During the fourth quarter the Mexican Government approved the MDP modification for Cancun airport to include the second runway and terminal 3 In the 1999 2004 period, ASUR has invested $1,934.4 million pesos in its 9 airports, 9% more than MDP commitments. The 2004-2008 investment plan represents $151 million dollars. During 2005 the second runway and a new terminal for Cancun Airport were approved by the Government, originally foreseen for 2008-2013, the estimated amount is $150 million dollars. 120 113 Million US 100 80 60 40 20 50 23 36 26 32 32 58 82 22 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Millions of US dollars, as of December 31st, 2005. Figures expressed in dollars were calculated at the exchange rate of 10.6344 pesos per US dollar. 15 *** (million of pesos as of Dec 2004)
Financial Highlights Our Commitment: Shareholder Value Creation Millions of US dollars, as of December 31 st, 2005 Figures expressed in dollars were calculated at a 2004 average exchange rate of 10.6344 pesos per US dollar. ** Excluding passengers in transit and general aviation. 2001 2002 2003 2004 2005 Passengers (million) ** 11.2 11.0 12.2 13.9 13.3 Regulated Revenues 118.8 113.6 126.0 151.3 144.8 Commercial rev. 11.1 17.4 23.1 39.2 47.0 Commercial vs. Total 8.5 13.2 15.4 20.4 24.2 Commercial Revenues per pax Usd 1.0 1.6 1.9 2.8 3.5 EBITDA 76.4 73.4 87.5 120.2 116.2 EBITDA margin 58.4 55.6 58.4 62.6 59.9 16
Peers ASUR is the only airport group on the Americas to be listed Some of the private airports / airport groups in the world listed on stock exchanges ASUR, GAP Mexico Listed on NYSE & BMV Copenhagen Airports Denmark Listed on Copenhagen SE BAA UK Listed on London SE Vienna Airport Austria Listed on Frankfurt SE Frankfurt Airport Germany Listed on Frankfurt SE Ljubljana Airport Slovenia Listed on Ljubljana SE Thailand Airports Thailand Listed on Thailand SE Beijing Airport China Listed on Hong Kong SE Guangzhou Airport China Listed on Hong Kong SE Hainan Meilan (CPH) China Listed on Hong Kong SE 17 ASUR and GAP are the only Airports Groups to be listed on NYSE Macquarie Airports Australia Listed on Australian SE Auckland Airport New Zealand Listed on New Zealand SE
Contact Information World Class Airports ADOLFO CASTRO CFO Ph:+(52) 55 52-84-04-08 Email: acastro@asur.com.mx SUSAN BORINELLI BREAKSTONE & RUTH Ph:+(646)452-2333 Email: sborinelli@breakstoneruth.com 18