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Associated Press
2 days ago
- Business
- Associated Press
Grupo Aeroportuario del Pacifico Announces Results for the Second Quarter of 2025
GUADALAJARA, Mexico, July 21, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ('the Company' or 'GAP') reports its consolidated results for the second quarter ended June 30, 2025 (2Q25). Figures are unaudited and prepared following International Financial Reporting Standards ('IFRS') as issued by the International Accounting Standards Board ('IASB'). Summary of Results 2Q25 vs. 2Q24 Company's Financial Position: As of June 30, 2025, the Company reported a cash and cash equivalents position of Ps. 9,697.3 million. During the second quarter of 2025, the Company repaid the maturing bond certificate 'GAP 21' for Ps. 2,500.0 million. In addition, the Company drew down a Ps. 3,375.0 million credit facility from Banco Nacional de México, S.A. ('Banamex') with a five-year term, and the proceeds were used to refinance maturities in June and July 2025 with Banamex for Ps. 2,500.0 million and BBVA for Ps. 875.0 million. Passenger Traffic During 2Q25, the 14 airports operated by GAP recorded an increase of 624.7 thousand total passengers, representing a 4.1% increase compared to 2Q24. During this period, the following new routes were launched: Domestic: Note: Frequencies can vary without prior notice. International: Note: Frequencies can vary without prior notice. Domestic Terminal Passengers – 14 airports (in thousands): *Cross Border Xpress (CBX) users are classified as international passengers. International Terminal Passengers – 14 airports (in thousands): *CBX users are classified as international passengers. Total Terminal Passengers – 14 airports (in thousands): *CBX users are classified as international passengers. CBX Users (in thousands): Consolidated Results for the Second Quarter of 2025 (in thousands of pesos): - Net income and comprehensive income per share for 2Q25 and 2Q24 were calculated based on 505,277,464 shares outstanding as of June 30, 2025, and June 30, 2024, respectively. Figures in U.S. dollar were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For consolidating the Jamaican airports, an average exchange rate of Ps. 19.5453 per U.S. dollar was used, corresponding to the three-month period ended June 30, 2025. Revenues (2Q25 vs. 2Q24) The change in aeronautical services revenues was primarily due to the following factors: The change in non-aeronautical services revenues was primarily driven by the following factors: Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 1,700.8 million, or 174.4%, compared to 2Q24. The change was composed of: 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating costs increased by Ps. 2,555.4 million, or 68.2%, compared to 2Q24, primarily due to a Ps. 1,700.8 million increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 308.5 million, or 25.4%, increase in the cost of services, driven mainly by the consolidation of the cargo and bonded warehouse business, which contributed Ps. 160.1 million; an increase of Ps. 309.8 million, or 35.2%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 237.6 million, or 34.6%, due to the recognition of fair values related to the cargo and bonded warehouse business. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 854.6 million, or 30.8%. This increase in total operating costs was primarily due to the following factors: Mexican airports: The change in the cost of services at our Mexican airports during 2Q25 was mainly due to: Jamaican Airports: Operating costs increased by Ps. 87.9 million, or 11.0%, compared to 2Q24, mainly due to a Ps. 33.9 million, or 16.9%, increase in the cost of services, a Ps. 29.7 million, or 7.5%, an increase in concession fees, and a Ps. 27.3 million, or 22.9%, increase in depreciation and amortization, partially offset by a Ps. 2.3 million, or 2.7%, decrease in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 48.4% in 2Q24 to 42.1% in 2Q25. Excluding the effects of IFRIC-12, the operating income margin went from 55.9% in 2Q24 to 55.8% in 2Q25. Income from operations increased by Ps. 1,067.6 million, or 30.4%, compared to 2Q24. EBITDA margin went from 57.8% in 2Q24 to 50.6% in 2Q25. Excluding the effects of IFRIC-12, EBITDA margin went from 66.8% in 2Q24 to 67.1% in 2Q25. The nominal value of EBITDA increased by Ps. 1,305.2 million, or 31.1%, compared to 2Q24. Financial results increased in expense by Ps. 70.4 million, or 10.6%, from a net expense of Ps. 663.1 million in 2Q24 to Ps. 733.5 million in 2Q25. This change was mainly the result of: In 2Q25, net and comprehensive income decreased by Ps. 658.9 million, or 22.8%, compared to 2Q24, mainly due to a Ps. 1,082.6 million increase in foreign currency translation losses versus the same period last year. Income before taxes increased by Ps. 997.2 million, or 35.0%. During 2Q25, net income increased by Ps. 402.4 million, or 17.9%, compared to 2Q24. Income tax for the period increased by Ps. 594.8 million, composed of a Ps. 451.5 million increase in current income tax, and a Ps. 143.3 million decrease in deferred tax benefit, primarily due to lower tax loss carryforwards of Ps. 177.3 million, compared to 2024. This was partially offset by a higher inflation effect, as inflation rose from 0.4% in 2Q24 to 0.9% in 2Q25. Consolidated Results for the Six Months of 2025 (in thousands of pesos): - Net income and comprehensive income per share for 6M25 and 6M24 were calculated based on 505,277,464 shares outstanding. U.S. dollar figures were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For the purpose of consolidating Jamaican airports, an average exchange rate of Ps. 19.9844 per U.S. dollar was used, corresponding to the six months ended June 30, 2025. Revenues (6M25 vs. 6M24) The change in aeronautical services revenues comprised primarily of the following factors: - The change in non-aeronautical services revenues comprised primarily of the following factors: Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 2,524.5 million, or 89.7%, compared to 6M24. The change was composed of: 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating cost increased by Ps. 4,405.4 million, or 53.4%, compared to 6M24, primarily due to a Ps. 2,524.5 million, or 89.7%. increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 721.5 million, or 31.6%, increase in the cost of services, an increase of Ps. 675.9 million, or 37.1%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 507.2 million, or 37.6%. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 1,880.9 million, or 34.6%. This increase in total operating costs was primarily due to the following factors: Mexican airports: The change in the cost of services at our Mexican airports during 6M25 was mainly due to: Jamaican Airports: Operating costs increased by Ps. 244.3 million, or 15.5%, compared to 6M24, mainly due to a Ps. 96.1 million, or 24.6%, increase in the cost of services, a Ps. 75.6 million, or 9.4%, increase in concession fees, and a Ps. 61.7 million, or 25.8%, increase in depreciation and amortization, and a Ps. 9.6 million, or 6.9%, increase in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 47.6% in 6M24 to 42.3% in 6M25. Excluding the effects of IFRIC-12, the operating income margin went from 57.9% in 6M24 to 55.9% in 6M25. Income from operations increased by Ps. 1,777.8 million, or 23.7%, compared to 6M24. EBITDA margin went from 56.2% in 6M24 to 50.7% in 6M25. Excluding the effects of IFRIC-12, EBITDA margin went from 68.4% in 6M24 to 67.1% in 6M25. The nominal value of EBITDA increased by Ps. 2,285.0 million, or 25.8%, compared to 6M24. Financial results increased in expense by Ps. 406.1 million, or 32.3%, from a net expense of Ps. 1,257.0 million in 6M24 to a net expense of Ps. 1,663.1 million in 6M25. This change was mainly the result of: In 6M25, net and comprehensive income decreased by Ps. 8.7 million, or 0.2%, compared to 6M24. Income before taxes increased by Ps. 1,371.6 million, mainly due to the increase in EBITDA, as mentioned above. During 6M25, net income increased by Ps. 789.8 million, or 16.7%, compared to 6M24, mainly due to the increase in EBITDA, partially offset by higher depreciation and amortization expenses, as well as an increase in net financial expenses. In addition, income tax expense for the period increased by Ps. 581.8 million, as a result of a Ps. 1,777.8 million increase in operating income. Statement of Financial Position Total assets as of June 30, 2025, increased by Ps. 4,870.3 million compared to June 30, 2024, primarily due to the following items: i) Improvements to concession assets of Ps. 5,875.2 million, ii) Other acquired rights of Ps. 1,937.1 million, iii) Trade accounts receivable of Ps. 816.9 million, iv) Deferred income taxes of Ps. 813.6 million, and v) Machinery, equipment, and improvements to leased buildings of Ps. 254.4 million, partially offset by a decrease in cash and cash equivalents of Ps. 2,887.6 million, advanced payments to suppliers of Ps. 905.1 million. As of June 30, 2025, total liabilities increased by Ps. 2,738.1 million compared to the same period in 2024, mainly due to i) Bonds certificates of Ps. 4,639.0 million, ii) Deferred liabilities of Ps. 575.1 million, iii) Accounts payable of Ps. 365.2 million, and iv) Taxes payable of Ps. 157.0 million, partially offset by a decrease in payables related to shareholder distribution of Ps. 2,819.9 million. Company Description Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico's Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP's shares were listed on the New York Stock Exchange under the ticker symbol 'PAC' and on the Mexican Stock Exchange under the ticker symbol 'GAP'. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the 'Ley del Mercado de Valores', GAP has implemented a 'whistleblower' program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is or by email at [email protected]. GAP's Audit Committee will be notified of all complaints for immediate investigation. Exhibit A: Operating results by airport (in thousands of pesos): Exhibit A: Operating results by airport (in thousands of pesos): (1) Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia, and Kingston airports. Exhibit B: Consolidated statement of financial position as of June 30 (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. Exhibit C: Consolidated statement of cash flows (in thousands of pesos): Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. Exhibit E: Consolidated stockholders' equity (in thousands of pesos): The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. As a part of the adoption of IFRS, the effects of inflation on common stock recognized under Mexican Financial Reporting Standards (MFRS) through December 31, 2007, were reclassified as retained earnings because accumulated inflation recognized under MFRS is not considered hyperinflationary according to IFRS. For Mexican legal and tax purposes, Grupo Aeroportuario del Pacífico, S.A.B. de C.V., as an individual entity, will continue preparing separate financial information under MFRS. Therefore, for any transaction between the Company and its shareholders related to stockholders' equity, the Company must take into consideration the accounting balances prepared under MFRS as an individual entity and determine the tax impact under tax laws applicable in Mexico, which requires the use of MFRS. For purposes of reporting to stock exchanges, the consolidated financial statements will continue to be prepared following IFRS, as issued by the IASB. Exhibit F: Other operating data: WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).
Yahoo
2 days ago
- Business
- Yahoo
Grupo Aeroportuario del Pacifico Announces Results for the Second Quarter of 2025
GUADALAJARA, Mexico, July 21, 2025 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) ('the Company' or 'GAP') reports its consolidated results for the second quarter ended June 30, 2025 (2Q25). Figures are unaudited and prepared following International Financial Reporting Standards ('IFRS') as issued by the International Accounting Standards Board ('IASB'). Summary of Results 2Q25 vs. 2Q24 The sum of aeronautical and non-aeronautical services revenues increased by Ps. 1,922.2 million, or 30.6%. Total revenues increased by Ps. 3,623.0 million, or 49.9%. Cost of services increased by Ps. 308.5 million, or 25.4%. Income from operations increased by Ps. 1,067.6 million, or 30.4%. EBITDA increased by Ps. 1,305.2 million, or 31.1%, an increase from Ps. 4,198.1 million in 2Q24 to Ps. 5,503.3 million in 2Q25. EBITDA margin (excluding the effects of IFRIC-12) went from 66.8% in 2Q24 to 67.1% in 2Q25. Comprehensive income decreased by Ps. 658.9 million, or 22.8%, from an income of Ps. 2,893.9 million in 2Q24 to an income of Ps. 2,234.9 million in 2Q25. Company's Financial Position: As of June 30, 2025, the Company reported a cash and cash equivalents position of Ps. 9,697.3 million. During the second quarter of 2025, the Company repaid the maturing bond certificate 'GAP 21' for Ps. 2,500.0 million. In addition, the Company drew down a Ps. 3,375.0 million credit facility from Banco Nacional de México, S.A. ('Banamex') with a five-year term, and the proceeds were used to refinance maturities in June and July 2025 with Banamex for Ps. 2,500.0 million and BBVA for Ps. 875.0 million. Passenger Traffic During 2Q25, the 14 airports operated by GAP recorded an increase of 624.7 thousand total passengers, representing a 4.1% increase compared to 2Q24. During this period, the following new routes were launched: Domestic: Airline Departure Arrival Opening date Frequencies Viva Hermosillo Tijuana May 22, 2025 1 daily Viva Tijuana Hermosillo May 22, 2025 1 daily Viva La Paz Santa Lucía May 22, 2025 1 daily Viva La Paz Tijuana May 22, 2025 1 daily Viva Tijuana La Paz May 22, 2025 1 daily Viva Tijuana Veracruz May 22, 2025 3 weekly Viva Tijuana Querétaro May 23, 2025 4 weekly Note: Frequencies can vary without prior notice. International: Airline Departure Arrival Opening date Frequencies World2Fly Montego Bay Lisboa June 11, 2025 1 weekly Note: Frequencies can vary without prior notice. Domestic Terminal Passengers – 14 airports (in thousands): Airport 2Q24 2Q25 Change 6M24 6M25 Change Guadalajara 2,994.8 3,090.9 3.2 % 5,666.5 6,112.1 7.9 % Tijuana * 2,097.8 2,139.2 2.0 % 4,083.4 4,196.7 2.8 % Los Cabos 690.6 739.7 7.1 % 1,328.3 1,408.6 6.0 % Puerto Vallarta 742.6 830.4 11.8 % 1,317.4 1,484.0 12.6 % Montego Bay 0.0 0.0 0.0 % 0.0 0.0 0.0 % Guanajuato 514.3 576.8 12.2 % 998.2 1,092.3 9.4 % Hermosillo 531.0 545.5 2.7 % 988.5 1,054.2 6.6 % Kingston 0.5 0.1 (84.2 %) 1.1 0.2 (85.8 %) Morelia 153.3 173.1 12.9 % 299.5 359.2 19.9 % Mexicali 226.3 305.7 35.1 % 514.6 598.8 16.4 % La Paz 288.1 328.1 13.9 % 559.4 608.7 8.8 % Aguascalientes 166.2 167.4 0.7 % 308.6 319.2 3.4 % Los Mochis 141.8 179.4 26.5 % 268.0 344.4 28.5 % Manzanillo 30.3 31.4 3.5 % 66.2 66.1 (0.1 %) Total 8,577.6 9,107.6 6.2 % 16,399.8 17,644.5 7.6 % *Cross Border Xpress (CBX) users are classified as international passengers. International Terminal Passengers – 14 airports (in thousands): Airport 2Q24 2Q25 Change 6M24 6M25 Change Guadalajara 1,369.9 1,387.2 1.3 % 2,860.0 2,894.2 1.2 % Tijuana * 981.7 1,051.8 7.1 % 1,934.0 2,066.7 6.9 % Los Cabos 1,199.9 1,224.4 2.0 % 2,607.8 2,607.3 (0.0 %) Puerto Vallarta 897.7 849.1 (5.4 %) 2,441.5 2,321.6 (4.9 %) Montego Bay 1,285.1 1,264.7 (1.6 %) 2,742.4 2,603.7 (5.1 %) Guanajuato 242.2 252.7 4.3 % 489.3 515.7 5.4 % Hermosillo 20.3 19.2 (5.2 %) 43.6 40.1 (7.9 %) Kingston 419.2 453.5 8.2 % 810.6 881.5 8.7 % Morelia 156.8 155.9 (0.6 %) 313.9 330.1 5.1 % Mexicali 2.1 1.8 (14.1 %) 3.8 3.6 (4.0 %) La Paz 2.9 8.9 202.1 % 6.1 17.6 186.1 % Aguascalientes 81.7 82.5 0.9 % 151.2 156.2 3.3 % Los Mochis 2.0 2.0 (0.2 %) 4.0 3.9 (3.2 %) Manzanillo 15.9 18.3 15.2 % 56.1 62.2 10.8 % Total 6,677.3 6,771.8 1.4 % 14,464.4 14,504.2 0.3 % *CBX users are classified as international passengers. Total Terminal Passengers – 14 airports (in thousands): Airport 2Q24 2Q25 Change 6M24 6M25 Change Guadalajara 4,364.6 4,478.1 2.6 % 8,526.5 9,006.3 5.6 % Tijuana * 3,079.5 3,191.0 3.6 % 6,017.4 6,263.3 4.1 % Los Cabos 1,890.5 1,964.0 3.9 % 3,936.2 4,015.9 2.0 % Puerto Vallarta 1,640.3 1,679.5 2.4 % 3,758.9 3,805.6 1.2 % Montego Bay 1,285.1 1,264.7 (1.6 %) 2,742.4 2,603.7 (5.1 %) Guanajuato 756.5 829.4 9.6 % 1,487.5 1,608.1 8.1 % Hermosillo 551.2 564.7 2.4 % 1,032.0 1,094.3 6.0 % Kingston 419.8 453.5 8.0 % 811.8 881.7 8.6 % Morelia 310.1 329.0 6.1 % 613.4 689.3 12.4 % Mexicali 228.5 307.5 34.6 % 518.4 602.4 16.2 % La Paz 291.0 337.0 15.8 % 565.6 626.3 10.7 % Aguascalientes 247.9 249.8 0.8 % 459.8 475.3 3.4 % Los Mochis 143.8 181.4 26.1 % 272.0 348.3 28.0 % Manzanillo 46.2 49.7 7.5 % 122.4 128.3 4.9 % Total 15,254.7 15,879.4 4.1 % 30,864.2 32,148.7 4.2 % *CBX users are classified as international passengers. CBX Users (in thousands): Airport 2Q24 2Q25 Change 6M24 6M25 Change Tijuana 965.7 1,031.4 6.8 % 1,907.6 2,029.6 6.4 % Consolidated Results for the Second Quarter of 2025 (in thousands of pesos): 2Q24 2Q25 Change Revenues Aeronautical services 4,560,960 5,763,188 26.4 % Non-aeronautical services 1,722,735 2,442,659 41.8 % Improvements to concession assets (IFRIC-12) 975,327 2,676,149 174.4 % Total revenues 7,259,022 10,881,996 49.9 % 6,283,695 8,205,847 30.6 % Operating costs Costs of services: 1,213,842 1,522,382 25.4 % Employee costs 490,716 638,722 30.2 % Maintenance 180,485 256,830 42.3 % Safety, security & insurance 199,802 232,516 16.4 % Utilities 130,036 148,732 14.4 % Business operated directly by us 72,549 86,632 19.4 % Other operating expenses 140,254 158,950 13.3 % Technical assistance fees 202,174 221,680 9.6 % Concession taxes 678,595 968,933 42.8 % Depreciation and amortization 687,351 924,959 34.6 % Cost of improvements to concession assets (IFRIC-12) 975,327 2,676,149 174.4 % Other (income) (9,042 ) (10,461 ) 15.7 % Total operating costs 3,748,247 6,303,642 68.2 % Income from operations 3,510,775 4,578,354 30.4 % Financial Result (663,157 ) (733,545 ) 10.6 % Income before income taxes 2,847,618 3,844,809 35.0 % Income taxes (594,903 ) (1,189,674 ) 100.0 % Net income 2,252,715 2,655,135 17.9 % Currency translation effect 659,054 (423,527 ) (164.3 %) Cash flow hedges, net of income tax (20,164 ) 2,668 (113.2 %) Remeasurements of employee benefit – net income tax 2,276 667 (70.7 %) Comprehensive income 2,893,881 2,234,943 (22.8 %) Non-controlling interest (95,925 ) (90,951 ) (5.2 %) Comprehensive income attributable to controlling interest 2,797,956 2,143,992 (23.4 %) 2Q24 2Q25 Change EBITDA 4,198,126 5,503,313 31.1 % Comprehensive income 2,893,881 2,234,943 (22.8 %) Comprehensive income per share (pesos) 5.7273 4.4232 (22.8 %) Comprehensive income per ADS (US dollars) 3.4591 2.1621 (37.5 %) Operating income margin 48.4 % 42.1 % (13.0 %) Operating income margin (excluding IFRIC-12) 55.9 % 55.8 % (0.1 %) EBITDA margin 57.8 % 50.6 % (12.6 %) EBITDA margin (excluding IFRIC-12) 66.8 % 67.1 % 0.4 % Costs of services and improvements / total revenues 30.2 % 38.6 % 27.9 % Cost of services / total revenues (excluding IFRIC-12) 19.3 % 18.6 % (4.0 %) - Net income and comprehensive income per share for 2Q25 and 2Q24 were calculated based on 505,277,464 shares outstanding as of June 30, 2025, and June 30, 2024, respectively. Figures in U.S. dollar were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For consolidating the Jamaican airports, an average exchange rate of Ps. 19.5453 per U.S. dollar was used, corresponding to the three-month period ended June 30, 2025. Revenues (2Q25 vs. 2Q24) Aeronautical services revenues increased by Ps. 1,202.2 million, or 26.4%. Non-aeronautical services revenues increased by Ps. 719.9 million, or 41.8%. Revenues from improvements to concession assets increased by Ps. 1,700.8 million, or 174.4%. Total revenues increased by Ps. 3,623.0 million, or 49.9%. The change in aeronautical services revenues was primarily due to the following factors: Revenues from Mexican airports increased by Ps. 1,067.3 million, or 27.6%, compared to 2Q24, mainly due to a Ps. 951.6 million or 22.5% increase in the passenger fee revenue, driven by the higher airport maximum tariffs approved for the new 2025–2029 regulatory period, effective as of March 2025, and by a 4.5% increase in passenger traffic during the quarter. Revenues from Jamaican airports increased by Ps. 134.9 million, or 19.3%, compared to 2Q24, mainly due to the depreciation of the Mexican peso against the U.S. dollar, which moved from an average exchange rate of Ps. 17.2106 in 2Q24 to Ps. 19.5453 in 2Q25, resulting in higher revenues in pesos. Additionally, there was a 0.8% increase in passenger traffic during the quarter. The change in non-aeronautical services revenues was primarily driven by the following factors: Revenues from Mexican airports increased by Ps. 676.2 million, or 45.9%, compared to 2Q24. Revenues from businesses operated directly by us increased by Ps. 582.8 million, or 116.7%, mainly due to the consolidation of revenues from the cargo and bonded warehouse business, which contributed Ps. 477.1 million. Revenues from businesses operated by third parties increased by Ps. 85.5 million, or 9.2%, primarily driven by the opening of new commercial spaces and the renegotiation of commercial contracts. The fastest-growing business lines were food and beverage, retail stores, duty-free, timeshares, and ground transportation, which together increased by Ps. 90.4 million, or 15.3%. Revenues from Jamaican airports increased by Ps. 43.7 million, or 17.4%, compared to 2Q24. In U.S. dollar terms, revenues rose by USD $0.6 million, or 8.2%, further benefiting from a 13.6% depreciation of the Mexican peso against the U.S. dollar compared to 2Q24. 2Q24 2Q25 Change Businesses operated by third parties: Food and beverage 290,715 342,679 17.9 % Duty-free 183,384 208,160 13.5 % Car rental 204,578 211,128 3.2 % Retail 159,927 191,431 19.7 % Leasing of space 120,804 112,962 (6.5 %) Other commercial revenues 61,501 59,010 (4.1 %) Timeshares 55,367 67,818 22.5 % Ground transportation 46,676 51,196 9.7 % Communications and financial services 27,559 28,837 4.6 % Total 1,150,511 1,273,221 10.7 % Businesses operated directly by us: Cargo operation and bonded warehouse 31,218 514,113 1546.8 % Car parking 169,356 177,872 5.0 % Convenience stores 135,464 161,588 19.3 % VIP Lounges 120,862 168,321 39.3 % Hotel operation 18,251 36,882 102.1 % Advertising 42,400 43,366 2.3 % Total 517,551 1,102,141 113.0 % Recovery of costs 54,674 67,297 23.1 % Total Non-aeronautical Revenues 1,722,735 2,442,659 41.8 % Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 1,700.8 million, or 174.4%, compared to 2Q24. The change was composed of: Improvements to concession assets at the Company's Mexican airports, which increased by Ps. 1,703.1 million, or 191.1%, following investments under the Master Development Program for the 2025-2029 period. Improvements to concession assets at the Company's Jamaican airports, which decreased Ps. 2.3 million, or 2.7%. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12),... and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating costs increased by Ps. 2,555.4 million, or 68.2%, compared to 2Q24, primarily due to a Ps. 1,700.8 million increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 308.5 million, or 25.4%, increase in the cost of services, driven mainly by the consolidation of the cargo and bonded warehouse business, which contributed Ps. 160.1 million; an increase of Ps. 309.8 million, or 35.2%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 237.6 million, or 34.6%, due to the recognition of fair values related to the cargo and bonded warehouse business. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 854.6 million, or 30.8%. This increase in total operating costs was primarily due to the following factors: Mexican airports: Operating costs increased by Ps. 2,467.5 million, or 83.7%, compared to 2Q24, mainly due to a Ps. 1,703.1 million or 191.1% increase in cost of improvements to the concession assets (IFRIC-12), a Ps. 274.6 million or 27.1% increase in the cost of services, a Ps. 210.2 million, or 37.0% increase in depreciation and amortization, and a Ps. 280.2 million or 57.6% combined increase in technical assistance fees and concession fees. Excluding construction costs (IFRIC 12), operating expenses increased by Ps. 764.4 million, or 37.2%. The change in the cost of services at our Mexican airports during 2Q25 was mainly due to: Employee costs increased by Ps. 134.2 million, or 30.8%, mainly due to the consolidation of the cargo and bonded warehouse business, which contributed Ps. 86.5 million. Maintenance rose by Ps. 77.1 million, or 54.5%, due to the opening of new operational areas, airfield maintenance, the operation of jet bridges by Ps. 44.4 million, and the consolidation of the cargo and bonded warehouse business, which contributed Ps. 8.4 million. Other operating expenses increased by Ps. 29.3 million, or 15.3%, primarily due to higher consulting services and travel expenses of Ps. 11.7 million, and the consolidation of the cargo and bonded warehouse business of Ps. 12.4 million. Safety, security and insurance rose by Ps. 17.7 million, or 11.7%, driven by an increase in security personnel, minimum wage adjustments, changes in the Federal Labor Law, the opening of additional operational areas, and Ps. 4.8 million from the consolidation of the cargo and bonded warehouse business. Jamaican Airports: Operating costs increased by Ps. 87.9 million, or 11.0%, compared to 2Q24, mainly due to a Ps. 33.9 million, or 16.9%, increase in the cost of services, a Ps. 29.7 million, or 7.5%, an increase in concession fees, and a Ps. 27.3 million, or 22.9%, increase in depreciation and amortization, partially offset by a Ps. 2.3 million, or 2.7%, decrease in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 48.4% in 2Q24 to 42.1% in 2Q25. Excluding the effects of IFRIC-12, the operating income margin went from 55.9% in 2Q24 to 55.8% in 2Q25. Income from operations increased by Ps. 1,067.6 million, or 30.4%, compared to 2Q24. EBITDA margin went from 57.8% in 2Q24 to 50.6% in 2Q25. Excluding the effects of IFRIC-12, EBITDA margin went from 66.8% in 2Q24 to 67.1% in 2Q25. The nominal value of EBITDA increased by Ps. 1,305.2 million, or 31.1%, compared to 2Q24. Financial results increased in expense by Ps. 70.4 million, or 10.6%, from a net expense of Ps. 663.1 million in 2Q24 to Ps. 733.5 million in 2Q25. This change was mainly the result of: Foreign exchange fluctuations, which went from an income of Ps. 80.9 million in 2Q24 to an expense of Ps. 40.3 million in 2Q25, resulting in a foreign exchange loss of Ps. 121.2 million due to the depreciation of the Mexican peso. Additionally, the foreign currency translation effect contributed to a Ps. 1,082.6 million increase in expense compared to 2Q24. Interest expense decreased by Ps. 119.9 million, or 11.6%, compared to 2Q24, mainly due to a decrease in reference rates. Interest income decreased by Ps. 69.3 million, or 24.9%, compared to 2Q24, mainly due to a decrease in the cash and cash equivalents average balance and changes in the reference rates. In 2Q25, net and comprehensive income decreased by Ps. 658.9 million, or 22.8%, compared to 2Q24, mainly due to a Ps. 1,082.6 million increase in foreign currency translation losses versus the same period last year. Income before taxes increased by Ps. 997.2 million, or 35.0%. During 2Q25, net income increased by Ps. 402.4 million, or 17.9%, compared to 2Q24. Income tax for the period increased by Ps. 594.8 million, composed of a Ps. 451.5 million increase in current income tax, and a Ps. 143.3 million decrease in deferred tax benefit, primarily due to lower tax loss carryforwards of Ps. 177.3 million, compared to 2024. This was partially offset by a higher inflation effect, as inflation rose from 0.4% in 2Q24 to 0.9% in 2Q25. Consolidated Results for the Six Months of 2025 (in thousands of pesos): 6M24 6M25 Change Revenues Aeronautical services 9,523,062 11,762,321 23.5 % Non-aeronautical services 3,417,140 4,836,535 41.5 % Improvements to concession assets (IFRIC-12) 2,813,789 5,338,324 89.7 % Total revenues 15,753,991 21,937,180 39.2 % Operating costs Costs of services: 2,285,769 3,007,237 31.6 % Employee costs 949,877 1,252,084 31.8 % Maintenance 342,282 513,733 50.1 % Safety, security & insurance 382,022 447,723 17.2 % Utilities 236,008 273,963 16.1 % Business operated directly by us 146,160 173,968 19.0 % Other operating expenses 229,420 345,766 50.7 % Technical assistance fees 426,536 505,580 18.5 % Concession taxes 1,393,211 1,990,083 42.8 % Depreciation and amortization 1,350,300 1,857,534 37.6 % Cost of improvements to concession assets (IFRIC-12) 2,813,789 5,338,324 89.7 % Other (income) (12,392 ) (36,145 ) 191.7 % Total operating costs 8,257,212 12,662,613 53.4 % Income from operations 7,496,778 9,274,567 23.7 % Financial Result (1,256,892 ) (1,663,035 ) 32.3 % Income before income taxes 6,239,887 7,611,532 22.0 % Income taxes (1,516,453 ) (2,098,280 ) 38.4 % Net income 4,723,434 5,513,253 16.7 % Currency translation effect 367,782 (498,585 ) (235.6 %) Cash flow hedges, net of income tax (35,403 ) 1,892 (105.3 %) Remeasurements of employee benefit – net income tax 2,229 32,766 1370.0 % Comprehensive income 5,058,042 5,049,325 (0.2 %) Non-controlling interest (127,642 ) (205,878 ) 61.3 % Comprehensive income attributable to controlling interest 4,930,400 4,843,449 (1.8 %) 6M24 6M25 Change EBITDA 8,847,078 11,132,102 25.8 % Comprehensive income 5,058,042 5,049,325 (0.2 %) Comprehensive income per share (pesos) 10.0104 9.9932 (0.2 %) Comprehensive income per ADS (US dollars) 6.0459 4.8847 (19.2 %) Operating income margin 47.6 % 42.3 % (11.2 %) Operating income margin (excluding IFRIC-12) 57.9 % 55.9 % (3.6 %) EBITDA margin 56.2 % 50.7 % (9.6 %) EBITDA margin (excluding IFRIC-12) 68.4 % 67.1 % (1.9 %) Costs of services and improvements / total revenues 32.4 % 38.0 % 17.5 % Cost of services / total revenues (excluding IFRIC-12) 17.7 % 18.1 % 2.6 % - Net income and comprehensive income per share for 6M25 and 6M24 were calculated based on 505,277,464 shares outstanding. U.S. dollar figures were converted from pesos using an exchange rate of Ps. 18.2610 per U.S. dollar, as published by the U.S. Federal Reserve Board (noon buying rate) on June 30, 2025. - For the purpose of consolidating Jamaican airports, an average exchange rate of Ps. 19.9844 per U.S. dollar was used, corresponding to the six months ended June 30, 2025. Revenues (6M25 vs. 6M24) Aeronautical services revenues increased by Ps. 2,239.3 million, or 23.5%. Non-aeronautical services revenues increased by Ps. 1,419.4 million, or 41.5%. Revenues from improvements to concession assets increased by Ps. 2,524.5 million, or 89.7%. Total revenues increased by Ps. 6,183.2 million, or 39.2%. The change in aeronautical services revenues comprised primarily of the following factors: Revenues at our Mexican airports increased by Ps. 1,942.2 million, or 24.0%, compared to 6M24. This growth was mainly driven by the increase in the maximum tariffs approved for the new 2025–2029 regulatory period, effective as of March 2025, the 16.8% depreciation of the Mexican peso against the U.S. dollar, and 5.0% increase in passenger traffic. Revenues from Jamaican airports increased by Ps. 297.0 million, or 20.5%, compared to 6M24. This was mainly due to the 16.8% depreciation of the peso against the U.S. dollar, with the average exchange rate moving from Ps. 17.1042 in 6M24 to Ps. 19.9844 in 6M25, resulting in higher peso-denominated revenue. This effect was partially offset by a 1.9% decrease in passenger traffic. - The change in non-aeronautical services revenues comprised primarily of the following factors: Revenues at our Mexican airports increased by Ps. 1,313.6 million, or 45.0%, compared to 6M24. Revenues from businesses operated directly by us rose by Ps. 1,096.1 million, or 111.0%. Businesses operated by third parties increased by Ps. 206.9 million, or 11.2%. This was mainly due to the opening of new commercial spaces, and the renegotiation of existing contracts. The business lines that increased the most were food and beverage, duty-free, retail, timeshares and ground transportation, which increased by Ps. 184.8 million, or 15.5%. Recovery of costs increased by Ps.10.5 million, or 11.8%. Revenues from the Jamaican airports increased by Ps. 105.8 million, or 21.2%, compared to 6M24. Revenues in U.S. dollars increased by US$1.4 million, or 3.7%. 6M24 6M25 Change Businesses operated by third parties: Food and beverage 588,081 685,259 16.5 % Duty-free 368,037 424,845 15.4 % Car rental 403,176 416,425 3.3 % Retail 341,779 382,605 11.9 % Leasing of space 207,277 229,859 10.9 % Other commercial revenues 113,833 131,035 15.1 % Timeshares 110,747 138,723 25.3 % Ground transportation 93,522 107,769 15.2 % Communications and financial services 54,078 60,242 11.4 % Total 2,280,531 2,576,761 13.0 % Businesses operated directly by us: Cargo operation and bonded warehouse 62,994 948,381 1405.5 % Car parking 346,732 356,342 2.8 % Convenience stores 283,378 331,088 16.8 % VIP Lounges 231,941 336,336 45.0 % Hotel operation 18,615 74,323 100.0 % Advertising 77,807 78,206 0.5 % Total 1,021,467 2,124,677 108.0 % Recovery of costs 115,142 135,097 17.3 % Total Non-aeronautical Revenues 3,417,140 4,836,535 41.5 % Figures expressed in thousands of Mexican pesos. ‐ Revenues from improvements to concession assets 1 Revenues from improvements to concession assets (IFRIC-12) increased by Ps. 2,524.5 million, or 89.7%, compared to 6M24. The change was composed of: Improvements to concession assets at the Company's Mexican airports, which increased by Ps. 2,514.9 million, or 94.1%, following investments under the Master Development Program for the 2025-2029 period. Improvements to concession assets at the Company's Jamaican airports, which increased Ps. 9.6 million, or 6.9%. 1 Revenues from improvements to concession assets are recognized in accordance with International Financial Reporting Interpretation Committee 12 'Service Concession Arrangements' (IFRIC 12). However, this recognition does not have a cash impact or impact on the Company's operating results. Amounts included as a result of the recognition of IFRIC 12 are related to construction of infrastructure in each quarter to which the Company has committed. This is in accordance with the Company's Master Development Programs in Mexico and Capital Development Programs in Jamaica. All margins and ratios calculated using 'Total Revenues' include revenues from improvements to concession assets (IFRIC 12), and, consequently, such margins and ratios may not be comparable to other ratios and margins, such as EBITDA margin, operating margin or other similar ratios that are calculated based on those results of the Company that do have a cash impact. Total operating cost increased by Ps. 4,405.4 million, or 53.4%, compared to 6M24, primarily due to a Ps. 2,524.5 million, or 89.7%. increase in the cost of improvements to concession assets (IFRIC-12), a Ps. 721.5 million, or 31.6%, increase in the cost of services, an increase of Ps. 675.9 million, or 37.1%, in concession fees and technical assistance fees; and higher depreciation and amortization, up Ps. 507.2 million, or 37.6%. Excluding the cost of improvements to concession assets (IFRIC-12), operating costs increased by Ps. 1,880.9 million, or 34.6%. This increase in total operating costs was primarily due to the following factors: Mexican airports: Operating costs increased by Ps. 4,161.1 million, or 62.3%, compared to 6M24, mainly due to a Ps. 2,514.9 million or 94.1% increase in the cost of improvements to the concession assets (IFRIC-12), a Ps. 625.3 million, or 33.0%, increase in the cost of services, a combined increase in technical assistance fees and concession fees Ps. 600.3 million, or 59.3%, and an increase in depreciation and amortization of Ps. 445.5 million or 40.1%. Excluding the cost of improvements to concession assets (IFRIC-12), operating expenses increased by Ps. 1,646.1 million, or 41.1%. The change in the cost of services at our Mexican airports during 6M25 was mainly due to: Employee costs increased by Ps. 272.7 million, or 32.3%, mainly due to the increase in minimum wages and changes in the Federal Labor Law, and the consolidation of the cargo and bonded warehouse business, which contributed Ps. 187.8 million. Maintenance rose by Ps. 153.4 million, or 57.3%, due to the opening of new operational areas, the operation of jet bridges by Ps. 88.4 million, and the consolidation of the cargo and bonded warehouse business, which contributed Ps. 17.3 million. Other operating expenses increased by Ps. 136.1 million, or 40.4%, primarily due to higher consulting services and travel expenses of Ps. 31.6 million, and the consolidation of the cargo and bonded warehouse business of Ps. 64.3 million. Safety, security and insurance rose by Ps. 34.7 million, or 12.2%, driven by an increase in security personnel, minimum wage adjustments, changes in the Federal Labor Law, the opening of additional operational areas, and Ps. 4.8 million from the consolidation of the cargo and bonded warehouse business. Jamaican Airports: Operating costs increased by Ps. 244.3 million, or 15.5%, compared to 6M24, mainly due to a Ps. 96.1 million, or 24.6%, increase in the cost of services, a Ps. 75.6 million, or 9.4%, increase in concession fees, and a Ps. 61.7 million, or 25.8%, increase in depreciation and amortization, and a Ps. 9.6 million, or 6.9%, increase in the cost of improvements to concession assets (IFRIC-12). Operating income margin went from 47.6% in 6M24 to 42.3% in 6M25. Excluding the effects of IFRIC-12, the operating income margin went from 57.9% in 6M24 to 55.9% in 6M25. Income from operations increased by Ps. 1,777.8 million, or 23.7%, compared to 6M24. EBITDA margin went from 56.2% in 6M24 to 50.7% in 6M25. Excluding the effects of IFRIC-12, EBITDA margin went from 68.4% in 6M24 to 67.1% in 6M25. The nominal value of EBITDA increased by Ps. 2,285.0 million, or 25.8%, compared to 6M24. Financial results increased in expense by Ps. 406.1 million, or 32.3%, from a net expense of Ps. 1,257.0 million in 6M24 to a net expense of Ps. 1,663.1 million in 6M25. This change was mainly the result of: Foreign exchange fluctuations, which went from an income of Ps. 109.9 million in 6M24 to an expense of Ps. 164.3 million in 6M25, resulting in a foreign exchange loss of Ps. 274.1 million due to the depreciation of the Mexican peso. Additionally, the foreign currency translation effect contributed to a Ps. 866.4 million increase in expense compared to 6M24. Interest expense increased by Ps. 124.6 million, or 6.5%, compared to 6M24, mainly due to the increase in bond certificates and higher borrowings of bank loans. Interest income decreased by Ps. 7.4 million, or 1.3%, compared to 6M24, mainly due to a decrease in the cash and cash equivalents average balance and changes in the reference rates. In 6M25, net and comprehensive income decreased by Ps. 8.7 million, or 0.2%, compared to 6M24. Income before taxes increased by Ps. 1,371.6 million, mainly due to the increase in EBITDA, as mentioned above. During 6M25, net income increased by Ps. 789.8 million, or 16.7%, compared to 6M24, mainly due to the increase in EBITDA, partially offset by higher depreciation and amortization expenses, as well as an increase in net financial expenses. In addition, income tax expense for the period increased by Ps. 581.8 million, as a result of a Ps. 1,777.8 million increase in operating income. Statement of Financial Position Total assets as of June 30, 2025, increased by Ps. 4,870.3 million compared to June 30, 2024, primarily due to the following items: i) Improvements to concession assets of Ps. 5,875.2 million, ii) Other acquired rights of Ps. 1,937.1 million, iii) Trade accounts receivable of Ps. 816.9 million, iv) Deferred income taxes of Ps. 813.6 million, and v) Machinery, equipment, and improvements to leased buildings of Ps. 254.4 million, partially offset by a decrease in cash and cash equivalents of Ps. 2,887.6 million, advanced payments to suppliers of Ps. 905.1 million. As of June 30, 2025, total liabilities increased by Ps. 2,738.1 million compared to the same period in 2024, mainly due to i) Bonds certificates of Ps. 4,639.0 million, ii) Deferred liabilities of Ps. 575.1 million, iii) Accounts payable of Ps. 365.2 million, and iv) Taxes payable of Ps. 157.0 million, partially offset by a decrease in payables related to shareholder distribution of Ps. 2,819.9 million. Company Description Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico's Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali, and Los Mochis. In February 2006, GAP's shares were listed on the New York Stock Exchange under the ticker symbol 'PAC' and on the Mexican Stock Exchange under the ticker symbol 'GAP'. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the Norman Manley International Airport operation in Kingston, Jamaica, and took control of the operation in October 2019. This press release contains references to EBITDA, a financial performance measure not recognized under IFRS and which does not purport to be an alternative to IFRS measures of operating performance or liquidity. We caution investors not to place undue reliance on non-GAAP financial measures such as EBITDA, as these have limitations as analytical tools and should be considered as a supplement to, not a substitute for, the corresponding measures calculated in accordance with IFRS. This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance, and financial results. The words 'anticipates', 'believes', 'estimates', 'expects', 'plans' and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations, and the factors or trends affecting financial condition, liquidity, or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends, or results will occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and Article 42 of the 'Ley del Mercado de Valores', GAP has implemented a 'whistleblower' program, which allows complainants to anonymously and confidentially report suspected activities that involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party responsible for collecting these complaints, is 800 04 ETICA (38422) or WhatsApp +52 55 6538 5504. The website is or by email at denuncia@ GAP's Audit Committee will be notified of all complaints for immediate A: Operating results by airport (in thousands of pesos): Airport 2Q24 2Q25 Change 6M24 6M25 Change Guadalajara Aeronautical services 1,268,040 1,562,430 23.2 % 2,564,649 3,151,517 22.9 % Non-aeronautical services 317,441 348,795 9.9 % 627,732 709,331 13.0 % Improvements to concession assets (IFRIC 12) 402,305 1,174,426 191.9 % 1,206,914 2,348,852 94.6 % Total Revenues 1,987,785 3,085,651 55.2 % 4,399,296 6,209,700 41.2 % Operating income 1,105,607 1,242,734 12.4 % 2,357,430 2,424,965 2.9 % EBITDA 1,238,723 1,450,416 17.1 % 2,615,085 2,844,519 8.8 % Tijuana Aeronautical services 691,854 855,119 23.6 % 1,330,342 1,587,933 19.4 % Non-aeronautical services 137,398 125,930 (8.3 %) 290,551 250,651 (13.7 %) Improvements to concession assets (IFRIC 12) 55,659 386,094 593.7 % 166,976 772,188 362.5 % Total Revenues 884,912 1,367,144 54.5 % 1,787,870 2,610,772 46.0 % Operating income 416,606 565,985 35.9 % 910,293 972,388 6.8 % EBITDA 532,909 691,459 29.8 % 1,139,124 1,224,397 7.5 % Los Cabos Aeronautical services 678,207 903,938 33.3 % 1,460,930 1,850,570 26.7 % Non-aeronautical services 333,646 349,334 4.7 % 651,689 712,000 9.3 % Improvements to concession assets (IFRIC 12) 99,521 205,863 106.9 % 298,562 411,726 37.9 % Total Revenues 1,111,374 1,459,135 31.3 % 2,411,181 2,974,296 23.4 % Operating income 592,449 806,799 36.2 % 1,428,213 1,645,613 15.2 % EBITDA 681,734 911,098 33.6 % 1,607,296 1,846,950 14.9 % Puerto Vallarta Aeronautical services 554,172 720,778 30.1 % 1,386,173 1,708,950 23.3 % Non-aeronautical services 156,084 183,464 17.5 % 324,160 371,047 14.5 % Improvements to concession assets (IFRIC 12) 247,818 503,536 103.2 % 743,455 1,007,073 35.5 % Total Revenues 958,074 1,407,778 46.9 % 2,453,787 3,087,070 25.8 % Operating income 382,540 584,274 52.7 % 1,184,206 1,365,432 15.3 % EBITDA 436,696 647,844 48.4 % 1,293,055 1,494,221 15.6 % Montego Bay Aeronautical services 451,015 518,434 14.9 % 965,270 1,103,799 14.4 % Non-aeronautical services 199,927 231,963 16.0 % 398,845 476,550 19.5 % Improvements to concession assets (IFRIC 12) 39,954 64,368 61.1 % 80,681 113,354 40.5 % Total Revenues 690,897 814,765 17.9 % 1,444,798 1,693,703 17.2 % Operating income 250,207 305,501 22.1 % 541,105 648,016 19.8 % EBITDA 321,002 391,479 22.0 % 681,708 823,813 20.8 % Exhibit A: Operating results by airport (in thousands of pesos): Airport 2Q24 2Q25 Change 6M24 6M25 Change Guanajuato Aeronautical services 209,686 280,231 33.6 % 428,065 548,630 28.2 % Non-aeronautical services 46,658 46,903 0.5 % 92,604 97,540 5.3 % Improvements to concession assets (IFRIC 12) 37,025 130,222 251.7 % 111,075 260,444 134.5 % Total Revenues 293,369 457,356 55.9 % 631,745 906,614 43.5 % Operating income 139,587 208,424 49.3 % 339,761 407,575 20.0 % EBITDA 161,425 233,880 44.9 % 383,005 458,950 19.8 % Hermosillo Aeronautical services 132,431 161,897 22.3 % 250,143 305,246 22.0 % Non-aeronautical services 28,985 30,191 4.2 % 56,967 56,762 (0.4 %) Improvements to concession assets (IFRIC 12) 10,720 17,224 60.7 % 32,159 34,448 7.1 % Total Revenues 172,136 209,312 21.6 % 339,269 396,456 16.9 % Operating income 65,385 97,867 49.7 % 150,699 176,221 16.9 % EBITDA 90,659 123,579 36.3 % 201,279 228,262 13.4 % Others (1) Aeronautical services 575,556 760,361 32.1 % 1,137,490 1,505,675 32.4 % Non-aeronautical services 102,998 115,531 12.2 % 209,218 234,076 11.9 % Improvements to concession assets (IFRIC 12) 82,326 194,416 136.2 % 173,965 390,239 124.3 % Total Revenues 760,880 1,070,309 40.7 % 1,520,673 2,129,991 40.1 % Operating income (24,265 ) 248,864 (1125.6 %) 10,809 481,021 4350.3 % EBITDA 125,786 351,893 179.8 % 309,263 689,098 122.8 % Total Aeronautical services 4,560,960 5,763,188 26.4 % 9,523,062 11,762,320 23.5 % Non-aeronautical services 1,323,136 1,432,112 8.2 % 2,651,767 2,907,957 9.7 % Improvements to concession assets (IFRIC 12) 975,327 2,676,149 174.4 % 2,813,789 5,338,324 89.7 % Total Revenues 6,859,423 9,871,449 43.9 % 14,988,618 20,008,601 33.5 % Operating income 2,928,112 4,060,448 38.7 % 6,922,515 8,121,231 17.3 % EBITDA 3,588,935 4,801,647 33.8 % 8,229,814 9,610,209 16.8 % (1) Others include the operating results of the Aguascalientes, La Paz, Los Mochis, Manzanillo, Mexicali, Morelia, and Kingston airports. Exhibit B: Consolidated statement of financial position as of June 30 (in thousands of pesos): 2024 2025 Change % Assets Current assets Cash and cash equivalents 12,584,900 9,697,343 (2,887,557 ) (22.9 %) Trade accounts receivable - Net 2,337,543 3,154,471 816,928 34.9 % Other current assets 1,169,781 1,152,861 (16,920 ) (1.4 %) Total current assets 16,092,224 14,004,675 (2,087,549 ) (13.0 %) Advanced payments to suppliers 1,774,646 869,569 (905,077 ) (51.0 %) Machinery, equipment and improvements to leased buildings - Net 4,369,470 4,623,910 254,440 5.8 % Improvements to concession assets - Net 31,357,661 37,232,836 5,875,175 18.7 % Airport concessions - Net 9,167,056 9,140,466 (26,590 ) (0.3 %) Rights to use airport facilities - Net 1,024,916 967,163 (57,753 ) (5.6 %) Other acquired rights - 1,937,118 1,937,118 100.0 % Deferred income taxes - Net 7,667,150 8,480,777 813,627 10.6 % Other non-current assets 1,864,594 931,541 (933,052 ) (50.0 %) Total assets 73,317,717 78,188,055 4,870,338 6.6 % Liabilities Current liabilities 16,313,310 14,743,847 (1,569,463 ) (9.6 %) Long-term liabilities 38,104,347 42,411,926 4,307,579 11.3 % Total liabilities 54,417,657 57,155,773 2,738,116 5.0 % Stockholders' Equity Common stock 1,194,390 1,194,390 - 0.0 % Legal reserve 920,187 238,878 (681,309 ) (74.0 %) Net income 4,648,636 5,266,355 617,719 13.3 % Retained earnings 8,345,564 9,131,025 785,461 9.4 % Reserve for share repurchase 2,500,000 2,500,000 - 0.0 % Foreign currency translation reserve 74,634 312,241 237,607 318.4 % Remeasurements of employee benefit – Net 311 41,049 40,738 13099.0 Cash flow hedges- Net 25,315 (2,692 ) (28,007 ) (110.6 Total controlling interest 17,709,037 18,681,246 972,209 5.5 % Non-controlling interest 1,191,020 2,351,039 1,160,019 97.4 % Total stockholder's equity 18,900,057 21,032,285 2,132,228 11.3 % Total liabilities and stockholders' equity 73,317,717 78,188,055 4,870,338 6.6 % The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of C: Consolidated statement of cash flows (in thousands of pesos): 2Q24 2Q25 Change 6M24 6M25 Change Cash flows from operating activities: Consolidated net income 2,252,715 2,655,135 17.9 % 4,723,435 5,513,253 16.7 % Postemployment benefit costs 13,776 15,459 12.2 % 27,552 29,621 7.5 % Allowance expected credit loss 21,328 (13,123 ) (161.5 %) 18,527 12,269 (33.8 %) Depreciation and amortization 687,351 924,959 34.6 % 1,350,300 1,857,534 37.6 % Loss on sale of machinery, equipment and improvements to leased assets 11,215 (630 ) (105.6 %) 11,760 1,360 (88.4 %) Interest expense 981,033 1,034,255 5.4 % 1,977,891 2,281,509 15.4 % Provisions 9,970 9,022 (9.5 %) 16,250 (21,667 ) (233.3 %) Income tax expense 594,903 1,189,674 100.0 % 1,516,453 2,098,280 38.4 % Unrealized exchange loss 309,521 (54,076 ) (117.5 %) 225,863 56,804 (74.9 %) 4,881,812 5,760,675 18.0 % 9,868,031 11,828,961 19.9 % Changes in working capital: (Increase) decrease in Trade accounts receivable 128,758 162,331 26.1 % (83,124 ) (493,714 ) 493.9 % Recoverable tax on assets and other assets 394,674 25,725 (93.5 %) 791,223 107,364 (86.4 %) Increase (decrease) Concession taxes payable (258,431 ) (248,380 ) (3.9 %) (109,032 ) (215,106 ) 97.3 % Accounts payable (400,002 ) (117,942 ) (70.5 %) (474,606 ) (46,488 ) (90.2 %) Cash generated by operating activities 4,746,811 5,582,409 17.6 % 9,992,492 11,181,017 11.9 % Income taxes paid (875,615 ) (1,202,747 ) 37.4 % (1,586,948 ) (2,324,790 ) 46.5 % Net cash flows provided by operating activities 3,871,196 4,379,662 13.1 % 8,405,543 8,856,227 5.4 % Cash flows from investing activities: Machinery, equipment and improvements to concession assets (1,701,189 ) (678,121 ) (60.1 %) (3,109,274 ) (2,384,763 ) (23.3 %) Cash flows from sales of machinery and equipment 2,878 1,656 (42.5 %) 4,235 1,774 (58.1 %) Other investment activities 199,053 (1,746,391 ) (977.3 %) 72,270 (1,732,569 ) (2497.4 %) Net cash used by investment activities (2,374,762 ) (2,422,856 ) 2.0 % (3,908,274 ) (4,115,559 ) 5.3 % Cash flows from financing activities: Dividends declared - (4,254,436 ) 100.0 % - (4,254,436 ) 100.0 % Dividends paid (65,424 ) (152,881 ) 133.7 % (65,424 ) (152,881 ) (133.7 %) Bond certificates issued - - 0.0 % 3,000,000 6,000,000 100.0 % Bond certificates paid - (2,500,000 ) 100.0 % (3,000,000 ) (7,000,000 ) 133.3 % Bank loans 875,000 3,249,098 271.3 % 875,000 3,249,098 271.3 % Interest paid on bank loans (1,314,322 ) (941,099 ) (28.4 %) (2,384,483 ) (2,306,485 ) (3.3 %) Interest paid on lease (971 ) (592 ) (39.0 %) (2,031 ) (1,282 ) (36.9 %) Payments of obligations for leasing (4,454 ) (2,566 ) (42.4 %) (8,908 ) (18,899 ) 112.1 % Net cash flows used in financing activities (578,588 ) (8,057,414 ) 1292.6 % (1,654,263 ) (7,939,822 ) 380.0 % Effects of exchange rate changes on cash held 125,431 (429,868 ) (442.7 %) (313,317 ) (569,530 ) 81.8 % Net increase (decrease) in cash and cash equivalents 1,043,277 (6,530,476 ) (726.0 %) 2,529,691 (3,768,684 ) (249.0 %) Cash and cash equivalents at beginning of the period 11,541,621 16,227,819 40.6 % 10,055,211 13,466,026 33.9 % Cash and cash equivalents at the end of the period 12,584,900 9,697,343 (22.9 %) 12,584,900 9,697,343 (22.9 %) Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos): 2Q24 2Q25 Change 6M24 6M25 Change Revenues Aeronautical services 4,560,960 5,763,188 26.4 % 9,523,062 11,762,321 23.5 % Non-aeronautical services 1,722,735 2,442,659 41.8 % 3,417,140 4,836,535 41.5 % Improvements to concession assets (IFRIC-12) 975,327 2,676,149 174.4 % 2,813,789 5,338,324 89.7 % Total revenues 7,259,022 10,881,996 49.9 % 15,753,991 21,937,180 39.2 % Operating costs Costs of services: 1,213,842 1,522,382 25.4 % 2,285,769 3,007,237 31.6 % Employee costs 490,716 638,722 30.2 % 949,877 1,252,084 31.8 % Maintenance 180,485 256,830 42.3 % 342,282 513,733 50.1 % Safety, security & insurance 199,802 232,516 16.4 % 382,022 447,723 17.2 % Utilities 130,036 148,732 14.4 % 236,008 273,963 16.1 % Business operated directly by us 72,549 86,632 19.4 % 146,160 173,968 19.0 % Other operating expenses 140,254 158,950 13.3 % 229,420 345,766 50.7 % Technical assistance fees 202,174 221,680 9.6 % 426,536 505,580 18.5 % Concession taxes 678,595 968,933 42.8 % 1,393,211 1,990,083 42.8 % Depreciation and amortization 687,351 924,959 34.6 % 1,350,300 1,857,534 37.6 % Cost of improvements to concession assets (IFRIC-12) 975,327 2,676,149 174.4 % 2,813,789 5,338,324 89.7 % Other (income) (9,042 ) (10,461 ) 15.7 % (12,392 ) (36,145 ) 191.7 % Total operating costs 3,748,247 6,303,642 68.2 % 8,257,212 12,662,613 53.4 % Income from operations 3,510,775 4,578,354 30.4 % 7,496,778 9,274,567 23.7 % Financial Result (663,157 ) (733,545 ) 10.6 % (1,256,892 ) (1,663,035 ) 32.3 % Income before income taxes 2,847,618 3,844,809 35.0 % 6,239,887 7,611,532 22.0 % Income taxes (594,903 ) (1,189,674 ) 100.0 % (1,516,453 ) (2,098,280 ) 38.4 % Net income 2,252,715 2,655,135 17.9 % 4,723,434 5,513,253 16.7 % Currency translation effect 659,054 (423,527 ) (164.3 %) 367,782 (498,585 ) (235.6 %) Cash flow hedges, net of income tax (20,164 ) 2,668 (113.2 %) (35,403 ) 1,892 (105.3 %) Remeasurements of employee benefit – net income tax 2,276 667 (70.7 %) 2,229 32,766 1370.0 % Comprehensive income 2,893,881 2,234,943 (22.8 %) 5,058,042 5,049,325 (0.2 %) Non-controlling interest (95,925 ) (90,951 ) (5.2 %) (127,642 ) (205,878 ) 61.3 % Comprehensive income attributable to controlling interest 2,797,956 2,143,992 (23.4 %) 4,930,400 4,843,449 (1.8 %) The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of E: Consolidated stockholders' equity (in thousands of pesos): Common Stock Legal Reseve Reserve for Share Repurchase Retained Earnings Other comprehensive income Total controlling interest Non-controlling interest Total Stockholders' Equity Balance as of January 1, 2024 8,197,536 478,185 2,500,000 8,787,568 (181,508 ) 19,781,783 1,162,864 20,944,646 Increase legal reserve - 442,002 - (442,002 ) - - - - Capital reduction (7,003,146 ) - - - - (7,003,146 ) - (7,003,146 ) Dividends declared non-controlling interest - - - - - - (99,485 ) (99,485 ) Comprehensive income: Net income - - - 4,648,635 - 4,648,635 74,803 4,723,438 Foreign currency translation reserve - - - - 314,940 314,940 52,839 367,779 Remeasurements of employee benefit – Net - - - - 2,229 2,229 - 2,229 Reserve for cash flow hedges – Net of income tax - - - - (35,403 ) (35,403 ) - (35,403 ) Balance as of June 30, 2024 1,194,390 920,187 2,500,000 12,994,201 100,259 17,709,037 1,191,021 18,900,058 Balance as of January 1, 2025 1,194,390 920,187 2,500,000 16,957,723 773,499 22,345,799 2,275,940 24,621,739 Decrease legal reserve - (681,309 ) - 681,309 - - - - Dividends declared - - - (8,508,000 ) - (8,508,000 ) (130,779 ) (8,638,779 ) Comprehensive income: Net income - - - 5,266,354 - 5,266,354 246,904 5,513,258 Foreign currency translation reserve - - - - (457,559 ) (457,559 ) (41,026 ) (498,585 ) Remeasurements of employee benefit – Net - - - - 32,766 32,766 32,766 Reserve for cash flow hedges – Net of income tax - - - - 1,892 1,892 - 1,892 Balance as of June 30, 2025 1,194,390 238,878 2,500,000 14,397,387 350,598 18,681,250 2,351,039 21,032,291 The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited ('Vantage'), as well as the 48.5% held by the shareholders of GWTC. As a part of the adoption of IFRS, the effects of inflation on common stock recognized under Mexican Financial Reporting Standards (MFRS) through December 31, 2007, were reclassified as retained earnings because accumulated inflation recognized under MFRS is not considered hyperinflationary according to IFRS. For Mexican legal and tax purposes, Grupo Aeroportuario del Pacífico, S.A.B. de C.V., as an individual entity, will continue preparing separate financial information under MFRS. Therefore, for any transaction between the Company and its shareholders related to stockholders' equity, the Company must take into consideration the accounting balances prepared under MFRS as an individual entity and determine the tax impact under tax laws applicable in Mexico, which requires the use of MFRS. For purposes of reporting to stock exchanges, the consolidated financial statements will continue to be prepared following IFRS, as issued by the F: Other operating data: 2Q24 2Q25 Change 6M24 6M25 Change Total passengers 15,254.7 15,879.4 4.1 % 30,864.2 32,148.7 4.2 % Total cargo volume (in WLUs) 703.1 686.6 (2.3 %) 1,343.1 1,337.3 (0.4 %) Total WLUs 15,957.8 16,566.0 3.8 % 32,207.3 33,486.0 4.0 % Aeronautical & non aeronautical services per passenger (pesos) 411.9 516.8 25.5 % 419.3 516.3 23.1 % Aeronautical services per WLU (pesos) 285.8 347.9 21.7 % 295.7 351.3 18.8 % Non aeronautical services per passenger (pesos) 112.9 153.8 36.2 % 110.7 150.4 35.9 % Cost of services per WLU (pesos) 76.1 91.9 20.8 % 71.0 89.8 26.5 % WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).
Daily Mail
3 days ago
- Health
- Daily Mail
'I wish I'd known this before having a facelift': Grandmother who looks '20 years younger' has two big regrets
A woman who spent $25,000 on a facelift has revealed what she wishes she knew before jetting to Mexico for the procedure. Peggy Lynn Marchetti, 60, has been sharing daily recovery updates with her 7,450 Instagram followers since she underwent a plethora of procedures in Guadalajara just three weeks ago. Under the care of surgeon Dr Fabian Mendoza, she had an extended deep plane lower facelift, upper and lower blepharoplasty—when the skin around the eyes is cut and tightened—a lip lift, and fat injections to replace volume in her cheeks. Ms Marchetti has been more than happy to answer people's questions about her staggering glow up, and surprisingly, she said the operations didn't leave her in a lot of pain. She said: 'The first one to three days is uncomfortable. You have the headdress the bandages and I had three drains. 'You have lots of swelling, so you feel really tight, but I wouldn't consider that pain just being uncomfortable and hard to rest.' But it was in a standalone video that Ms Marchetti revealed the things she wish she had done before having a facelift. Speaking directly to camera, she began by explaining that she wishes she had had the op sooner—but not for the reason you'd expect. She said: 'I would have done it a lot sooner, somewhere between the age of 50 and 54. Why? Because you heal faster, you're in overall better health, and your face and your body still match. 'Trust me, when you look 40, but your hands and your chest tell a different story, it's not good. Today's face lifts are not your mama's face lift. Cosmetic Surgery has come a long way.' Getting into what she wishes she had known about and acted on, she said that she regrets not being more liberal with SPF as years of sun damage have left her with 'discoloration, fine lines, wrinkles and crepey skin'. 'In my younger years, I wished I would have taken sunscreen a lot more serious, not just on my face, but on my neck, my chest, my hands. 'Those UV rays as you age show up, and they rob your skin of all the radiance. I'm totally kicking myself.' Ms Marchetti also said she wishes she had started having anti-wrinkle injections when she was younger. 'I would have started Botox and been consistent, a little consistency, and maintenance, preventative, all of those measures go a long way,' she mused. Finally she advised others hoping to have a facelift to 'start saving early' and view it like they would a retirement pot. 'You're worth the investment in cosmetic surgery,' she said. 'No matter where you get it, it is not cheap.' Ms Marchetti has not stated how much she has spent on her surgeries, but responded to one follower: 'The cost really depends on the procedures that you're having done. My surgeon, hospital, medications, recovery, home, clinical testing, pre-surgery, post surgery, therapies, travel, and incidentals. A good budget $20-$25k.' Last week we revealed the similarly amazing results of a London grandmother who flew to Turkey for a facial rejuvenation procedure.
Yahoo
3 days ago
- Entertainment
- Yahoo
Javier Hernandez launches bizarre tirade in controversial video
Former Manchester United forward Javier Hernandez has released a controversial video of himself on Instagram. United success The Mexican, known as 'Chicharito' played for the club between 2010 and 2015. He scored 59 goals in 157 appearances for United, winning two Premier League titles. Chicharito would later play for clubs teams as Bayer Leverkusen, Sevilla and West Ham United. The 37-year-old currently plays in Mexico for Guadalajara. Controversial video The former Red Devil has faced alienating millions of his former fans by releasing a bizarre video chastising the role of women in modern society. For little apparent reason, Chicharito recorded himself criticising women's place in 2025 and claimed that they were 'failing'. His outrageous tirade on Instagram began by claiming that women 'are eradicating masculinity by making society hypersensitive. He instructed women to 'embrace your feminine energy: nurturing, caring, receiving, multiplying, cleaning, maintaining the home, which is the most precious place for us men.' The former United attacker also asked for women to 'allow' themselves to be led by a man 'who only wants to see you happy.' The striker also claimed that men are failing in modern society due to their 'lack of commitment, putting our partners last, not keeping our word, and not prioritising habits to become admirable.' Finally, he strangely asserted that everyone is frightened to express themselves as we are 'eradicating masculinity' and that women 'must learn to honour masculinity'. Backlash Naturally, the Mexican has faced a backlash against his dated views and has probably already lost a significant amount of goodwill he generated at the club whilst a player. Hernandez separated from his own wife in 2021 and has since spoken on his own failings as a husband during their time together. Follow us on Bluesky: @
Yahoo
3 days ago
- Sport
- Yahoo
Cruz Azul stuck in a poor run against Atlas
Cruz Azul accumulated their sixth consecutive match without being able to beat Atlas, being the worst streak of the club against the red and blacks in Liga MX. Eduardo Aguirre has been key in this hegemony, participating in 60% of Atlas' goals in five of those matches. It all started in the Clausura 2023 repechage, shortly before Aguirre was announced as a reinforcement for the sky blue team. However, after failing the medical exams, his arrival at Cruz Azul was frustrated and he ended up signing with Atlas. Since then, 'Mudo' has become a nightmare for La Máquina, scoring four goals and providing two assists in the last five encounters. He only missed the first one of this streak, when he was not yet playing with the Tapatíos. Aguirre was not the only frustrated signing, as Matheus Dória was also close to arriving that summer of 2023. The Brazilian, although he played less, also left his mark with a goal against Cruz Azul on Matchday 2 of the Apertura 2025. This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here. 📸 Hector Vivas - 2024 Getty Images
