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Safe Harbor StatementFi
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Some of the statements contained in this presentation discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR’s filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.
Management TeamFi
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Management
Fernando Chico PardoChairman of the Board of Directors
with company since 2005
Adolfo Castro RivasChief Executive and Financial OfficerHead of Investor Relations
with company since 2000
Claudio Góngora MoralesGeneral Counsel
with company since 1999
Alejandro Pantoja LópezChief Infrastructure Officer
with company since 2001
Agustín Arellano RodríguezDirector of International Projects
with company since 2010
Manuel Gutiérrez SolaChief Commercial Officer
with company since 2000
Carlos Trueba CollGeneral Director of Cancún Airport
with company since 1998
Héctor Navarrete MuñozGeneral Director of Regional Airports
with company since 1999
Page 3
Investment Highlights
• Long-term concession investments in attractive locations in Mexico, the Caribbean and South America
• Established regulatory framework
• Track record of consistent passenger growth
• Balanced mix of international and domestic traffic
• Successful, market leading commercial business strategy
• Strong cash flow profile and solid balance sheet
• Robust corporate governance and board of directors with experienced management
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Key valuedrivers
Focus on Corporate Social Responsibility
• Member of Dow Jones and Bolsa Mexicana de Valoressustainability indices
• Active participant of United Nations Global Compact, in Mexico and internationally
• Certified by CEMEFI as Socially Responsible Company (11th year)
• Airports’ Environmental Management Systems certified under ISO 14001
• Environmental Compliance certification from Mexican Environmental Protection Agency
• Focus on quality of life for employees and community relations
• Strict standards of corporate governance and business ethics
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Sustainability is a
key strategy in our business
model
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Airport operations in attractive locations in Mexico, the Caribbean and South America
Geographical presence
Page 6
Source: ASUR Company Filings
Cancún: Close to major U.S. destinations
Illustrative flight times
from various destinations
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Private airports / airport groups listed on global stock exchangesFi
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ASUR and GAP are the only Latin American Airport Groups listed on NYSE
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Ownership overviewFi
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Page 9* 32,945,080 shares with voting rights and delegated voting rights, as of February 06, 2018
Established regulatory framework with a track record of rate setting precedents
Note: 2017 Revenues per PAX, expressed In nominal pesos as of Dec 2017; passenger traffic excludes transit and general aviation passengers
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System
Regulated + Non Regulated
Revenues
Page 10
ASUR adjusts specific tariffs / prices once every six months using the Mexican producer price index, excluding petroleum).
Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
0
500
1,000
1,500
2,000
2,500
3,000
3,500
• Key projects completed:
1999: Government capex backlog
2005: 9/11 security standards
2006-2007:Terminal 3 and second
runway in CUN
2011: Passenger flow separation in CUN
Required works for Airport Certification
(9 airports)
Terminal building expansion:• 2011-2013: HUX, MID, OAX and VSA
• 2014-2016: Terminal 2 & 3 in CUN and VER
• 2014-2017: New Terminal 4 in CUN
Visibility of capital expenditure requirements through 2018
1 Committed investments from May 1999 to Dec 20002 177 M Pesos pesos have been paid each year (anticipated) –
Terminal 3 Cancún AirportNote: Committed investments according to Master
Development Plan, expressed in million pesos as of December 2017 based on the Mexican construction price index in accordance with the terms of the Master Development Plan.
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Committed Investments 1999-2017:
23,161 million pesos
• Visibility on capital expenditure requirements, as maximum rate negotiated along
with Master Development Plan (MDP) is a function of programmed capex
MDP investment commitments (expressed in December 2017 Million Pesos)
Page 11 Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded
ASUR’s airports are among the most frequented in MexicoFi
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Mexican Airports by PAX(thousand PAX)
1 According to the Communications and Transport Ministry’s website
Source: Company financials, AICM website: Note: Selected airport sample includes ASUR, GAP, OMA and OHL concessions and the Mexico City airport; PAX traffic excludes transit and general aviation PAXPage 12
Revenue and passenger breakdown
by business by airport
Ps.9,029M
Source: Company filings; Note: Non-aeronautical revenues are derived from leasing of space in airports to airlines, restaurants, retailers and other commercial tenants and access fees collected from third parties providing complementary services (such as catering, handling, and ground transport). Commercial revenues are all non-aeronautical and include revenues related to retail (duty free & duty paid), food & beverages, advertising, banking & foreign exchange, car rental, car parking, ground transport, teleservices and others. Revenues from Construction Services are not included. PAX traffic excludes transit and general aviation. Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
by airportby type
Cancun
76.0%
Merida
6.9%
Villahermosa
4.1%
Other 13.0%
Aeronautical 59%
Non-aeronautical 41%
Cancun
81.6%
Merida
5.5%
Villahermosa
2.9%Other 10.1%
International
53.9%
Domestic
46.1%
Regulated
62%Commercial
38%
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2017 Revenues
31.1M2017 PAX
2017 Revenue per PAX:Ps.290.8
Page 13
0.0
5.0
10 .0
15 .0
20 .0
25 .0
30 .0
1990
1991
19
92
19
93
19
94
19
95
19
96
19
97
19
98
1999
2000
2001
2002
2003
2004
20
05
20
06
20
07
20
08
20
09
20
10
20
11
2012
2013
2014
2015
2016
2017
3M
17
3M
18
ASUR traffic evolution
CAGR ’90–’17 (INT’L): 7.1%CAGR ’90–’17 (DOM): 6.0%Source: ASA from 1990-1998. ASUR management thereafter
Note: Transit and general aviation excludedCAGR ’90–’17 (Cancun): 7.9%
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CAGR: 6.5%
Page 14 Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
ASUR has a balanced mix of domestic and international traffic
1 Note: % of total refers to 2016 figureNote: Excludes transit and general aviation;
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Passenger traffic by Origin – Destination(million PAX)
Page 15
Region 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16%
Change 16 vs. 15
% of total
2016 1
% CAGR 99-16
Mexico 5.0 5.0 4.9 4.8 5.3 5.6 5.5 5.9 7.4 8.1 7.0 7.2 7.7 8.9 9.7 10.7 12.1 13.3 10.5 46.9 5.9
USA 4.1 4.6 4.5 4.4 4.9 5.9 5.6 5.3 6.0 6.5 5.9 6.2 6.2 6.2 6.8 7.6 8.8 9.4 6.8 33.2 5.0
Europe 0.7 0.9 0.9 0.8 1.0 1.3 1.2 1.3 1.4 1.5 1.0 1.2 1.3 1.5 1.7 1.7 1.7 1.8 4.3 6.2 5.8
Canada 0.3 0.4 0.5 0.6 0.7 0.8 0.8 0.8 1.0 1.3 1.3 1.5 1.7 1.8 1.8 1.9 2.0 2.1 3.9 7.3 12.1
Latin America 0.5 0.5 0.5 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.5 0.6 0.9 1.1 1.3 1.6 1.8 15.5 6.3 7.6
Asia & Others 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 NA 0.0 NA
ASUR 10.6 11.4 11.3 10.9 12.2 13.9 13.4 13.6 16.1 17.8 15.5 16.7 17.5 19.2 21.1 23.2 26.1 28.4 8.7 100 6.0
Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
Historically, traffic has recovered and grown after exogenous events
EVENT RECOVERY AFTER
Sep ‘01: 9/11 13 months
Oct ‘05: H. Wilma 16 months
May ‘09: H1N1 26 months
Type of PAX Historical Max. (%) Mar 18 vs. Hist. Max
Domestic Mar’18 0.0%
International Mar’18 0.0%
TOTAL Mar’18 0.0%
14.7 M17.1 M
31.8 M
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traffic during last 12-
months at each specific date (million
PAX)
Page 16 Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
34 11%
jun-08 dic-17New
AirplanesVar. %
INTERJET 11 78 67 609%
VOLARIS 17 69 52 306%
AEROMEXICO 94 131 37 39%
VIVAAEROBUS 7 24 17 243%
AEROMAR 14 18 4 29%
MAGNICHARTERS 5 9 4 80%
TAR 0 11 11 100%
GLOBAL AIR 4 1 (3) (75)%
Subtotal 152 341 189 124%
jun-08 dic-17Lost
Airplanes
MEXICANA 78 0 (78)
ALMA 15 0 (15)
AEROCALIFORNIA 22 0 (22)
AVOLAR 8 0 (8)
ALADIA 3 0 (3)
AVIACSA 26 0 (26)
NOVA AIR 3 0 (3)
Subtotal 155 0 (155)
a) Existing Airlines
b) Suspended Airlines
(200)
(160)
(120)
(80)
(40)
0
40
80
120
160
200
0
50
100
150
200
250
300
350
400
450
Lost vs. N
ew A
irplan
esA
vaila
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air
pla
ne
s
Available airplanes
New airplanes - existing airlines
Lost airplanes - suspended airlines
(155)
189
307341
Jun-08 Sep-10 Dec-17
After 8.5 years, Mexico recovered the level of Airplanes AvailableFi
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404 available airplanes
Available Airplanes in Mexico
Source:www.airfleets.netwww.aerotransport.org
Page 17
Selected Int ASUR GAP OMA
Successful commercial strategy
2017 commercial revenue per PAX vs. peers (US$/PAX) – converted at a 2017 average FX of PS. 18.9199/US$ for Mexican Airports
1 International average includes figures for Fraport, TAV Airports, Copenhagen Airports, Vienna Airport, Aeroports do Paris and Zurich Airport; Note: OMA commercial revenues exclude revenues from Cargo; GAP commercial exclude revenues from Montego Bay operations; Amounts converted to US$ at a 2017 average FX of Ps.18.9199/US$ (banxico.org.mx), where applicable; Note: Commercial revenue per passenger recorded in 3Q’05 reflects a one time payment from Dufry Mexico of Ps.39.5mm; Commercial revenue recorded in 4Q’06 reflects a one time payment of Ps.19.1mm from Aldeasa for a new concession contract at Terminal 3 in Cancun International. Passenger traffic excludes transit and general aviation; Commercial revenue per passenger CAGR based on full year 2000 and full year 2017 figures
Commercial revenues per passenger per quarter evolution (Pesos / Passenger in Mexican pesos as of date reported)
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Nominal CAGR 2000 – 2017: 22.9%(Mexican CPI CAGR 2000-2017: 4.3%)
Page 18
Non Regulated Revenues as % of Total Revenues (excluding Revenues from Construction Services)
Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
Source for Mexican CPI: Inegi; Note: CAGRs calculated in Mexican peso terms; Revenues from Construction Services not included; passenger figures exclude passengers in transit or general aviation. Otherwise stated, figures from operations in PR and Colombia are excluded.
Track record of consistent revenue growth and profitabilityFi
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Total Revenues CAGR 1999 – 2017: 13.7%Not including Revenues from Construction Services
Growth rates: ’99 – ’17 CAGR (%)
Passenger traffic 6.1%Total revenues 13.7%EBITDA 15.6%Net income 21.0%Mexican CPI 4.5%
EBITDA & EBITDA Margin (Ps. Mm)
CAGR ’06–’17: 15.7%
1999 – 2017 Revenues
Figures for 2010, 2011, 2012, 2013, 2014, 2015, 2016 & 2017 reflect adoption of MIFRS-17 Note: From 1999 to 2007 figures in nominal Mexican pesos adjusted for inflation as of Dec. 31st of each yearPage 19
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 D&A. 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. 2010 - 2017 EBITDA margin calculated w/o Rev. from Constr. Serv. for comparability with previous periods.
ASUR GAP OMA
ASUR GAP OMAASUR GAP OMA
ASUR has positively differentiated itself…Fi
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Cancun as the best airport in Latin America
for 4 consecutive
years
CAGR in Revenues 2006 – 2017 (%)
CAGR in EBITDA 2006 – 2017 (%)
Revenue per PAX in 2017
CAGR in PAX Traffic 2006 – 2017 (%)
Page 20
NOTES: 1. Revenues from Construction services are excluded for ASUR, GAP & OMA.2. ASUR figures exclude 2017 PAX, revenues & EBITDA from its participation in San Juan Airport Operations (Puerto Rico) & Airplan (Colombia)3. GAP figures exclude 2017 PAX, revenues & EBITDA from Montego Bay Airport Operations.4. OMA figures exclude 2017 revenues & EBITDA from NH Hotel (Mexico City Airport), Hilton Garden Inn Hotel (Monterrey Airport) & Aero Industrial
Park.
Revenue and cost per PAX comparison (Nominal Pesos / PAX)
2017 operating cost breakdown (%) Growth rates: ’06 – ’17 CAGR (%)
Growth rates in Mexican peso terms; Mexican inflation growth rate calculated as the % change in CPI indexed to 2006; total costs include concession fee, technical assistance, administrative services, costs of services and D&A; PAX traffic excludes Transit and G.A. PAX.
Passenger traffic 7.7% Cost of services 8.2%
Revenues 13.5% Administrative services 7.0%
EBITDA 15.7% Total costs 7.8%
Net Income 21.6% Mexican inflation (CPI) 4.2%
Mexican GDP growth 2.1%
NOTE: Total Revenue per passenger does not include revenues from construction services. Controllable expenses per passenger exclude: D&A, Concession Fee, Technical Assistance and Cost of Sales from Direct Commercial Operation. 3Q’10: Does not reflect the Ps.128.0 million increase in the reserve for doubtful accounts resulting from the bankruptcy announced by Grupo Mexicana de Aviación
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Revenues have grown at a faster rate than total costs and PAX traffic
Page 21 Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
2017 OPEX does not include US$240.0 million impairment in long-term assets as a result of the impact of Hurricane Maria, in Puerto Rico, as well as the recognition of Ps.98.8 million in amortization of the intangible asset resulting from the valuation of the investment in Aerostar
1 Note: Figures in nominal Mexican pesos for the respective year; for illustrative purposes, dividend in each year in the chart above relates to the dividend paid in nominal pesos in the year thereafter, i.e. dividend shown in year (x) in the chart above is actually the dividend paid in year (x+1) according to ASUR financial statements; Note: Retained Earnings for the years 2010, 2011 2012, 2013, 2014, 2015, 2016 & 2017 reflect the adoption of IFRS2 Note: 4.00 pesos per share paid in May 2013; 4.40 pesos per share paid in December 2013.3 Note: 6.78 pesos per share to be approved by the Annual General Shareholders Meeting on April 26th, 2018 and, if approved, to be paid on June 15th, 2017.Otherwise stated, figures from operations in Puerto Rico and Colombia are excluded.
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Dividends evolution1999 - 2017
EBITDA – CAPEX (Ps. million)
Net Income, retained earnings and dividends evolution(Ps. thousands) 1
Page 22
233
Robust corporate governance and board of directors
Board of Directors
Audit Committee
Operations Committee
Nom & Comp Committee
Acq. & Contracts
Committee
Fernando Chico Pardo Founder and President of Promecap
X X X XJosé Antonio Pérez Antón
CEO of Grupo ADOX X X
Roberto Servitje Sendra1
Former Chairman of Grupo BimboX X
Ricardo Guajardo Touche1
Former president of BBVA BancomerX X X
Francisco Garza Zambrano1
Former President of CEMEX North AmericaX X
Guillermo Ortiz Martinez1
Former Governor of Mexico Central Bank for 12 yrs.X X
Rasmus Christiansen 1
Former CEO of Copenhagen Airports InternationalX X X
Luis Chico Pardo Former economist at the Bank of Mexico
XAurelio Pérez Alonso
Deputy Chief Executive Officer of Grupo ADOX X
• 1 Five out of nine board members are independent• Sarbanes-Oxley compliant• Four committees led by board members• Audit committee comprised of 3 independent members of the board of directors
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Corporate Governance
Standards
Page 23
What’s Next?
• Further develop our commercial business
• Improve our passenger volumes
• World Class service – ASQ Program
• Improve capital structure
• Monitor new business opportunities
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TermObjectives
Page 24
ASUR: International Presence in Puerto Rico
• Luis Munoz Marin International Airport (SJU), in San Juan Puerto Rico (8.4M PAX during 2017) is the largest and busiest airport in the Caribbean.
• Feb 27th, 2013 initiated with the operation of the airport:
Term of 40 years
Upfront payment of $615M USD
Airlines serving LMM will collectively make aggregate payments of $62M USD/yr for the first five years; years 6-40 the payment will be increased annually by the U.S. CPI
Revenue-sharing payments to PRPA: fixed at $2.5M USD first five years; 5% of gross airport revenues (years 6-30); 10% of gross airport revenues (years 31-40)
Minimal Capital Improvement projects: $34M USD
Consolidation: Equity method up to may 2017
• May 26th, 2017: ASUR increases its participation to 60%.
• Jun 1st, 2017: ASUR begins consolidating its operations in Aerostar line by line.
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Aerostar:Limited liability
company
Ownership:
SJU
Page 25
ASUR, 60%
PSP Investments, 40%
Aerostar Passenger Traffic Information
• SJU accounts for over 93% of Puerto Rican passenger traffic
• Approximately 83% of enplanements are origin and destination (“O&D”)
• SJU is served by a strong and diverse group of 35 airlines
• Aerostar works closely with the airlines and the Puerto Rico Tourism Company in the development of new routes and expansion of services to existing destinations
• September 21, 2017: Hurricane Maria hits Puerto Rico.
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Passenger Traffic
SJU
Page 26
AEROSTAR: Summary of Passenger Traffic
The decline in passenger traffic at San Juan Airport reflects the impact of Hurricane Maria, which hit the island on September 21, 2017.
Aerostar Financial Information 2016 & 2017Fi
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rs AerostarTotal Revenues
for 4Q’07: $576,141
(thousands of Mexican pesos)
SJU
Page 27
AEROSTAR: Main Financial Data
In May 2017, ASUR increased its share ownership in Aerostar to 60% from its prior 50% ownership. Accordingly, consolidated results as presented above reflect line by line consolidation of Aerostar results starting in June 1, 2017, while prior to that, Aerostar’s results were accounted for by the equity method.Figures presented in the table above compare the stand-alone results of Aerostar for the three-month period ended December 31, 2017 (in which Aerostar was consolidated with ASUR) against the three-month period ended December 31, 2016 (in which Aerostar was not consolidated with ASUR and instead was accounted for by the equity method). ASUR is not presenting results for the twelve-month periods ended December 31, 2017 and 2016 as the Company did not consolidate Aerostar during the totality of this period.
Aerostar Commercial Information 2016 & 2017
• Consistent growth in commercial revenues from an increased number of concessions, optimized passenger flow and improved product offerings.
• Around $170M USD invested in modernizing terminal offerings through new concession concepts, self-operating Convenience Stores, and updated parking and car rental facilities
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Commercial Revenues
SJU
Page 28
AEROSTAR: Commercial Revenues
In May 2017, ASUR increased its share ownership in Aerostar to 60% from its prior 50% ownership. Accordingly, consolidated results as presented above reflect line by line consolidation of Aerostar results starting in June 1, 2017, while prior to that, Aerostar’s results were accounted for by the equity method.Figures presented in the table above compare the stand-alone results of Aerostar for the three-month period ended December 31, 2017 (in which Aerostar was consolidated with ASUR) against the three-month period ended December 31, 2016 (in which Aerostar was not consolidated with ASUR and instead was accounted for by the equity method). ASUR is not presenting results for the twelve-month periods ended December 31, 2017 and 2016 as the Company did not consolidate Aerostar during the totality of this period.
ASUR, 92.42%
ASUR: International Presence in Colombia
• Airplan is the second-largest airport concession holder in Colombia, with 10.1 million passengers in 2017.
• This acquisition is an important strategic addition that allows ASUR to enter the South American market by offering airport services through six airports in Colombia.
• Passenger traffic figures:
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Oct 19, 2017:ASUR concludes
the acquisition of a controlling
stake of approximately
92.42% in “Airplan”
Page 29
Passenger traffic was impacted by a strike of local pilots at a major international carrier
Airplan Financial Information 2016 & 2017Fi
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rs AirplanTotal Revenues
for 4Q’07: $482,058
(thousands of Mexican pesos)
Page 30
AIRPLAN: Main Financial Data
In October 19, 2017, ASUR acquired a 92.42% ownership stake in Airplan, which operates six airports in Colombia. Therefore, ASURbegan to consolidate Airplan’s results on a line by line basis as of that date.Figures presented in the table above compares Airplan's independent results for the period starting October 19 and ended December 31, 2017 (in which Airplan was consolidated with ASUR) against the three-month period starting October 19, 2016 and ended December 31, 2016 (in which Airplan was not consolidated with ASUR).As a result of the acquisition of Airplan, ASUR reported goodwill of Ps.2,120.1 million in 4Q17. In line with IFRS 3, there is a one-year term to determine the final purchase price of this acquisition and consequently, the amount of this goodwill could change.
