ASUR 1Q17 Passenger Traffic Up 8.42% YOY

MEXICO CITY, April 20, 2017

1Q17 Highlights¹:

• EBITDA² increased by 25.21% to Ps.1,771.21 million
• Total passenger traffic was up 8.42%
• Total revenues increased by 19.23%, reflecting increases of 18.94% in aeronautical revenues and 27.64% in non-aeronautical revenues, partially offset by the 25.52% decline in construction services revenues
• Commercial revenues per passenger rose by 18.51% to Ps.117.74
• Operating profit increased by 26.90%
• EBITDA margin increased to 71.51% from 68.10% in 1Q16
• Adjusted EBITDA margin³, excluding the effect of IFRIC12, was 74.73% compared with 73.14% in 1Q16

1. Unless otherwise stated, all financial figures discussed in this announcement are unaudited, prepared in accordance with International Financial Reporting Standards (IFRS) and represent comparisons between the three-month period ended March 31, 2017, and the equivalent three-month period ended March 31, 2016.  Results are expressed in pesos. Tables state figures in thousands of pesos, unless otherwise noted. Passenger figures exclude transit and general aviation passengers. Commercial revenues include revenues from non-permanent ground transportation and parking lots. All U.S. dollar figures are calculated at the exchange rate of US$1.00 = Ps.18.7955.
2. 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.
3. Adjusted EBITDA Margin excludes the effect of IFRIC12 with respect to the construction or improvements to concessioned assets, as explained in page 5 of this report. Adjusted EBITDA Margin is calculated by dividing EBITDA by total revenues less construction services revenues.   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.

Passenger Traffic

1Q17 total passenger traffic increased year-over-year by 8.42%, reflecting growth of 11.98% in domestic passenger traffic and 6.22% in international passenger traffic.

The 11.98% increase in domestic passenger traffic was driven by the majority of ASUR's airports, with the exception of Cozumel and Minatitlán, where traffic declined by 14.42% and 9.96%, respectively.

The 6.22% growth in international passenger traffic resulted primarily from an increase of 6.39% in traffic at the Cancún airport.