Grupo Aeroportuario del Pacífico
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Grupo Aeroportuario del Pacífico (GAPB) investor relations material

Grupo Aeroportuario del Pacífico Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary25 Feb, 2026

Executive summary

  • Passenger traffic reached 63.7 million in 2025, up 2.5% year-over-year, with a 0.9% Q4 decline due to Hurricane Melissa in Jamaica; 62 new routes were added.

  • Total revenues for 2025 rose 23.2% to Ps. 41,408.5 million, with net income up 12.7% to Ps. 10,000.6 million and EBITDA up 17.8% to Ps. 21,332.1 million; EBITDA margin (ex-IFRIC/IFRS 12) was 65.6%.

  • Combined aeronautical and non-aeronautical revenues grew strongly, with commercial revenues in Mexico particularly robust and recovery underway in Jamaica.

  • Comprehensive income declined 9.6% due to foreign currency translation losses, despite net income growth.

  • Diversified portfolio across Mexico and Jamaica, with ESG leadership and strong commercial performance.

Financial highlights

  • Aeronautical revenues rose 19.4% to Ps. 22,821.8 million, accounting for 70% of total revenues; non-aeronautical revenues up 26.5% to Ps. 9,704.1 million, representing 30%.

  • EBITDA margin (ex-IFRIC/IFRS 12) was 65.6% in 2025 and 63.8% in Q4; operating margin was 54.0% (ex-IFRIC-12).

  • Cash and cash equivalents at year-end were Ps. 10,453.2 million.

  • Net debt to EBITDA ratio improved to 0.6x; interest debt service ratio at 4.2x.

  • Dividend yield reached 313.5% in 2025, with a payout policy distributing all excess cash above a minimum balance.

Outlook and guidance

  • For 2026, passenger traffic is expected to grow 2–5%, aeronautical revenues 9–12%, non-aeronautical revenues 6–9%, total revenues 8–11%, and EBITDA 8–11%; CAPEX planned at Ps. 13.5 billion.

  • Guidance excludes the CBX business combination, which is pending formalization.

  • No further impact expected from recent disruptions in Jalisco; operations have normalized.

Jamaica hotel capacity recovery timeline
CBX integration timeline and synergy capture
Future capital allocation priorities post-T&C
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Next Grupo Aeroportuario del Pacífico earnings date

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Q1 202620 Apr, 2026
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Q1 202620 Apr, 2026

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Frequently asked questions

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) is an airport operator headquartered in Guadalajara, Mexico. The company specializes in managing, operating, and developing airport facilities. It holds concessions for approximately 12 airports across Mexico's Pacific region, serving major cities such as Guadalajara and Tijuana, and key tourist destinations including Puerto Vallarta and Los Cabos. GAP's operations extend beyond Mexico, with an international airport in Jamaica also under its management. Grupo Aeroportuario del Pacífico is focused on enhancing airport infrastructure and services, ensuring efficient and high-quality experiences for passengers and airlines alike. The company is headquartered in Guadalajara, Jalisco, Mexico, and its shares are listed on the New York Stock Exchange (NYSE) under the ticker symbol "PAC" and on the Bolsa Mexicana de Valores (BMV) as "GAP".

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