Today, Southeast Airport Group, formally known as Grupo Aeroportuario del Sureste (NYSE:), SAB de CV, filed Form 6-K with the U.S. Securities and Exchange Commission (SEC). The filing, dated July 8, 2024, complies with SEC regulations for foreign private issuers under the Securities Exchange Act of 1934.
The document confirms that the airport services company, headquartered in Mexico and incorporated under the jurisdiction of Mexico City, has elected to file its annual reports using Form 20-F. The company has not activated the provision to provide additional information under Rule 12g3-2(b), as indicated by the absence of a check mark in the corresponding box.
Adolfo Castro Rivas, CEO of Southeast Airport Group, signed the report, thereby fulfilling the requirement that an authorized representative of the company authenticate such submissions. The business address listed is Bosque de Alisos No. 47A – 4th Floor, Bosques de las Lomas, 05120 Mexico City, which is the company’s main office.
Form 6-K is a routine disclosure that provides the SEC and investors with up-to-date information about foreign companies publicly traded 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.
Southeast Airport Group investors and shareholders may access this document through the SEC’s EDGAR database for review. The company, identified by central index key (CIK) number 0001123452, operates in the airports, runways and airport terminal services sector, classified under Standard Industrial Classification (SIC) code 4581.
The information presented in this article is based solely 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 strong results for the first quarter of 2024, with a record 18.6 million passengers, representing a year-over-year increase of 4%. The company’s total revenues increased by 14% to more than 7 billion pesos, driven primarily by Mexico’s contribution of 76%.
Despite challenges such as Pratt & Whitney engine issues and capacity reductions at Mexico City Airport, ASUR anticipates further traffic growth and is focused on improving the passenger experience. The company’s CEO, Adolfo Castro, discussed future expansions, including Terminal 4 and the reconstruction of Terminal 1, which are expected to be carried out without disrupting airport operations.
ASUR’s EBITDA grew 13% year-on-year to MXN 5.1 billion, and cash and cash equivalents increased 21% year-on-year to nearly MXN 17 billion. The company plans to distribute ordinary and extraordinary cash dividends of MXN 10 each. These are recent developments that indicate ASUR’s commitment to growth and passenger satisfaction.
InvestingPro Insights
In light of Southeast Airport Group’s recent SEC filing, investors seeking a deeper understanding of the company’s financial health might consider the latest data and insights from InvestingPro. With a solid market capitalization of $9.06 billion and a price-to-earnings (P/E) ratio of 15.15, the company shows stability in its valuation metrics. The P/E ratio has remained fairly constant, with a slight adjustment to 15.06 when looking at the trailing twelve months starting from Q1 2024.
One InvestingPro tip that stands out for Southeast Airport Group is its impressive gross profit margin, which has reached 61.73% over the trailing twelve months to 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. Additionally, the company’s dividend yield is remarkably 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 learning more, InvestingPro offers additional tips on 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. Additionally, by using the coupon code News 24Readers can get up to 10% off an annual Pro subscription and an annual or bi-annual Pro+ subscription, gaining access to a total of 11 additional InvestingPro tips that could further inform their investment decisions.
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