0001104659-26-044448
SEC filingMixed financial results in 2025 reflected revenue growth to 2,743.1 million primarily from a 4.0% increase in passenger traffic, while operating income declined to 286.2 million due to a 20.4% rise in operating expenses driven by higher construction costs, depreciation, and cost of services.
Regulatory context bolstered this investment focus. In December 2023, the SICT approved updated master development plans effective January 1, 2024, through December 31, 2028, providing a framework for sustained capex. Operationally, fuel supply remains regulated, requiring permits from the National Energy Commission for private parties handling storage, commercialization, distribution, and supply at airports. Additionally, concession structures include incentives like decreasing fixed dollar payments in the initial five years to encourage growth in EBITDA.
Overall, 2025 results highlight traffic-driven revenue gains offset by cost pressures from accelerated depreciation and construction, positioning the company for future growth under approved development plans while managing investment funding through operational cash and debt.