Pacific Airport Group 6-K, filed Feb 23, 2022

Pacific Airport Group (PAC)

6-K 2022-02-23 For: 2022-02-22

View Original

Added on April 08, 2026

About this 6-K

Pacific Airport Group filed this 6-K on February 23, 2022.

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →

Domestic:
Airline	Departure	Arrival	Opening date	Frequencies
TAR	Hermosillo	Monterrey	October 1, 2021	3 weekly frequencies
TAR	La Paz	Culiacan	October 19, 2021	3 weekly frequencies
TAR	La Paz	Puerto Vallarta	October 19, 2021	3 weekly frequencies
TAR	Hermosillo	Puerto Vallarta	October 19, 2021	3 weekly frequencies
^{Note: Frequencies can vary without prior notice.}

International:
Airline	Departure	Arrival	Opening date	Frequencies
Frontier	Los Cabos	Denver	October 9, 2021	3 weekly frequencies
Frontier	Montego Bay	Atlanta	November 1, 2021	3 weekly frequencies
American Airlines	Puerto Vallarta	Austin	November 2, 2021	3 weekly frequencies
Frontier	Montego Bay	Orlando	November 2, 2021	3 weekly frequencies
EW Discover	Montego Bay	Frankfurt	November 3, 2021	2 weekly frequencies
Swoop	Puerto Vallarta	Toronto	November 4, 2021	2 weekly frequencies
American Airlines	Kingston	Philadelphia	November 4, 2021	3 weekly frequencies
Swoop	Los Cabos	Toronto	December 4, 2021	1 weekly frequencie
Swoop	Kingston	Toronto	December 4, 2021	2 weekly frequencies
Aeromexico	Guadalajara	Madrid	December 15, 2021	3 weekly frequencies
Frontier	Montego Bay	Newark	December 17, 2021	3 weekly frequencies
Swoop	Puerto Vallarta	Victoria	December 19, 2021	1 weekly frequencie
^{Note: Frequencies can vary without prior notice.}

Domestic Terminal Passengers – 14 airports (in thousands):
Airport	4Q20	4Q21	Change	2020	2021	Change
Guadalajara	1,777.8	2,542.0	43.0%	5,768.1	8,540.2	48.1%
Tijuana *	1,506.0	1,870.1	24.2%	4,597.3	6,891.3	49.9%
Los Cabos	430.7	575.0	33.5%	1,215.3	2,020.4	66.2%
Puerto Vallarta	319.0	554.3	73.7%	951.5	1,848.5	94.3%
Montego Bay	0.0	0.0	0.0%	1.0	0.0	(100.0%)
Guanajuato	329.5	404.4	22.7%	1,051.5	1,487.1	41.4%
Hermosillo	290.3	449.5	54.8%	939.4	1,457.9	55.2%
Mexicali	215.4	324.3	50.6%	690.9	1,088.4	57.5%
Morelia	118.1	146.9	24.3%	387.3	541.0	39.7%
La Paz	192.4	266.7	38.6%	566.5	901.8	59.2%
Kingston	0.1	0.2	100.0%	1.4	1.2	(14.0%)
Aguascalientes	110.7	178.1	60.9%	356.0	582.8	63.7%
Los Mochis	75.5	106.3	40.7%	211.2	358.3	69.6%
Manzanillo	14.9	25.7	73.2%	49.1	86.8	76.6%
Total	5,380.4	7,443.5	38.3%	16,786.6	25,805.6	53.7%
^{*CBX users are classified as international passengers.}

International Terminal Passengers – 14 airports (in thousands):
Airport	4Q20	4Q21	Change	2020	2021	Change
Guadalajara	711.4	1,059.5	48.9%	2,357.5	3,702.7	57.1%
Tijuana *	512.3	885.5	72.9%	1,719.3	2,786.6	62.1%
Los Cabos	589.5	1,067.1	81.0%	1,848.9	3,529.2	90.9%
Puerto Vallarta	354.8	813.6	129.3%	1,584.6	2,271.5	43.4%
Montego Bay	285.5	821.3	187.7%	1,609.6	2,581.9	60.4%
Guanajuato	102.5	184.6	80.1%	336.2	631.9	87.9%
Hermosillo	16.1	25.5	58.5%	44.8	102.1	127.7%
Mexicali	0.7	2.0	198.1%	2.3	5.6	142.7%
Morelia	81.9	113.2	38.2%	244.0	406.1	66.4%
La Paz	1.9	4.6	141.0%	6.6	18.3	177.1%
Kingston	133.6	262.5	96.5%	628.0	829.3	32.0%
Aguascalientes	41.6	58.6	40.9%	119.5	210.6	76.2%
Los Mochis	0.8	2.3	196.5%	2.4	9.4	286.9%
Manzanillo	4.5	16.8	270.8%	37.1	46.5	25.3%
Total	2,836.9	5,317.0	87.4%	10,541.0	17,131.6	62.5%
^{*CBX users are classified as international passengers.}

Total Terminal Passengers – 14 airports (in thousands):
Airport	4Q20	4Q21	Change	2020	2021	Change
Guadalajara	2,489.1	3,601.5	44.7%	8,125.6	12,243.0	50.7%
Tijuana *	2,018.2	2,755.6	36.5%	6,316.6	9,677.9	53.2%
Los Cabos	1,020.2	1,642.1	61.0%	3,064.2	5,549.6	81.1%
Puerto Vallarta	673.8	1,367.9	103.0%	2,536.1	4,120.0	62.5%
Montego Bay	285.5	821.3	187.7%	1,610.6	2,581.9	60.3%
Guanajuato	431.9	588.9	36.3%	1,387.7	2,119.0	52.7%
Hermosillo	306.4	475.0	55.0%	984.2	1,559.9	58.5%
Mexicali	216.0	326.3	51.0%	693.2	1,094.0	57.8%
Morelia	200.0	260.1	30.0%	631.3	947.1	50.0%
La Paz	194.3	271.3	39.6%	573.1	920.0	60.5%
Kingston	133.7	262.7	96.5%	629.4	830.5	31.9%
Aguascalientes	152.3	236.7	55.4%	475.6	793.4	66.8%
Los Mochis	76.3	108.6	42.3%	213.6	367.7	72.1%
Manzanillo	19.4	42.6	119.4%	86.2	133.3	54.6%
Total	8,217.3	12,760.5	55.3%	27,327.5	42,937.2	57.1%
^{*CBX users are classified as international passengers.}

CBX (thousands)
Airport	4Q20	4Q21	Change	2020	2021	Change
Tijuana	507.8	876.1	72.5%	1,705.7	2,754.3	61.5%

Consolidated Results for the Fourth Quarter of 2021 (in thousands of pesos):
	4Q20		4Q21		Change
Revenues
Aeronautical services	2,023,398		3,571,344		76.5%
Non-aeronautical services	650,490		1,077,886		65.7%
Improvements to concession assets (IFRIC-12)	(329,479	)	539,140		263.6%
Total revenues	2,344,408		5,188,370		121.3%

Operating costs
Costs of services:	638,350		881,966		38.2%
Employee costs	235,311		306,052		30.1%
Maintenance	130,976		206,595		57.7%
Safety, security & insurance	120,358		137,293		14.1%
Utilities	83,106		107,333		29.2%
Other operating expenses	68,599		124,693		81.8%

Technical assistance fees	89,858		155,717		73.3%
Concession taxes	193,414		359,403		85.8%
Depreciation and amortization	506,148		519,409		2.6%
Cost of improvements to concession assets (IFRIC-12)	(329,479	)	539,140		263.6%
Other (income)	(14,361	)	(2,858	)	(80.1%)
Total operating costs	1,083,930		2,452,777		126.3%
Income from operations	1,260,478		2,735,593		117.0%
Financial Result	(866,839	)	(328,381	)	(62.1%)
Income before income taxes	393,639		2,407,212		511.5%
Income taxes	(53,228	)	(604,778	)	1036.2%
Net income	340,411		1,802,434		429.5%
Currency translation effect	(643,284	)	55,056		108.6%
Cash flow hedges, net of income tax	(9,355	)	96,525		1131.8%
Remeasurements of employee benefit – net income tax	4,680		3,649		22.0%
Comprehensive income	(307,548	)	1,957,664		(736.5%)
Non-controlling interest	90,102		(35,128	)	(139.0%)
Comprehensive income attributable to controlling interest	(217,446	)	1,922,536		984.1%


	4Q20		4Q21		Change
EBITDA	1,766,625		3,255,002		84.2%
Comprehensive income	(307,548	)	1,957,664		(736.5%)
Comprehensive income per share (pesos)	(0.5852	)	3.8213		(753.0%)
Comprehensive income per ADS (US dollars)	(0.2853	)	1.8628		(753.0%)

Operating income margin	53.8	%	52.7	%	(1.9%)
Operating income margin (excluding IFRIC-12)	47.1	%	58.8	%	24.8%
EBITDA margin	75.4	%	62.7	%	(16.7%)
EBITDA margin (excluding IFRIC-12)	66.2	%	70.1	%	6.0%
Costs of services and improvements / total revenues	13.2	%	27.4	%	107.9%
Cost of services / total revenues (excluding IFRIC-12)	23.9	%	19.0	%	(20.5%)

^{- Net income and comprehensive income per share for 4Q21 were calculated based on 512,301,577 shares outstanding as of December 31, 2021, and for 4Q20 were calculated based on 525,575,547 shares outstanding as of December 31, 2020. U.S. dollar figures presented were converted from pesos to U.S. dollars at a rate of Ps. 20.5140 per U.S. dollar (the noon buying rate on December 30, 2021, as published by the U.S. Federal Reserve Board).}
^{- For purposes of the consolidation of the Montego Bay and Kingston airports, the average three-month exchange rate of Ps. 20.7468 per U.S. dollar for the three months ended December 31, 2021, was used.}

	4Q20	4Q21	Change
Businesses operated by third parties:
Duty-free	80,685	161,459	100.1%
Food and beverage	83,117	149,840	80.3%
Retail	67,102	116,054	73.0%
Car rentals	75,055	113,535	51.3%
Leasing of space	54,267	67,052	23.6%
Time shares	28,595	54,519	90.7%
Ground transportation	27,442	42,902	56.3%
Communications and financial services	15,647	19,482	24.5%
Other commercial revenues	23,118	36,071	56.0%
Total	455,027	760,913	67.2%

Businesses operated directly by us:
Car parking	74,499	114,784	54.1%
VIP lounges	32,323	74,314	129.9%
Advertising	21,752	19,548	(10.1%)
Convenience stores	25,224	56,902	125.6%
Total	153,797	265,547	72.7%
Recovery of costs	41,663	51,424	23.4%
Total Non-aeronautical Revenues	650,490	1,077,886	65.7%

^{Figures expressed in thousands of Mexican pesos.}

	2020		2021		Change
Revenues
Aeronautical services	7,225,742		11,983,954		65.9%
Non-aeronautical services	2,448,053		3,662,441		49.6%
Improvements to concession assets (IFRIC-12)	2,192,578		3,368,511		53.6%
Total revenues	11,866,373		19,014,906		60.2%

Operating costs
Costs of services:	2,668,707		2,989,631		12.0%
Employee costs	970,481		1,115,750		15.0%
Maintenance	426,523		546,548		28.1%
Safety, security & insurance	458,316		510,440		11.4%
Utilities	355,562		391,836		10.2%
Other operating expenses	457,825		425,057		(7.2%)

Technical assistance fees	289,154		526,220		82.0%
Concession taxes	908,310		1,231,044		35.5%
Depreciation and amortization	2,000,361		2,050,539		2.5%
Cost of improvements to concession assets (IFRIC 12)	2,192,578		3,368,511		53.6%
Other expense (income)	(12,726	)	(8,231	)	(35.3%)
Total operating costs	8,046,384		10,157,714		26.2%
Income from operations	3,819,989		8,857,192		131.9%

Financial Result	(1,434,222	)	(1,027,929	)	(28.3%)
Income before income taxes	2,385,770		7,829,263		228.2%
Income taxes	(467,067	)	(1,785,546	)	282.3%
Net income	1,918,703		6,043,717		215.0%
Currency translation effect	580,308		30,810		(94.7%)
Cash flow hedges, net of income tax	(299,013	)	500,765		(267.5%)
Remeasurements of employee benefit – net income tax	(16,658	)	15,263		191.6%
Comprehensive income	2,183,340		6,590,555		201.9%
Non-controlling interest	(18,701	)	(80,248	)	(329.1%)
Comprehensive income attributable to controlling interest	2,164,639		6,510,307		200.8%


	2020		2021		Change
EBITDA	5,820,350		10,907,731		87.4%
Comprehensive income	2,183,340		6,590,555		201.9%
Comprehensive income per share (pesos)	4.1542		12.8646		209.7%
Comprehensive income per ADS (US dollars)	2.0251		6.2711		209.7%

Operating income margin	32.2	%	46.6	%	44.7%
Operating income margin (excluding IFRIC-12)	39.6	%	56.6	%	43.0%
EBITDA margin	49.0	%	57.4	%	17.0%
EBITDA margin (excluding IFRIC-12)	60.2	%	69.7	%	15.9%
Costs of services and improvements / total revenues	41.0	%	33.4	%	(18.4%)
Cost of services / total revenues (excluding IFRIC-12)	27.6	%	19.1	%	(30.7%)

^{- Net income and comprehensive income per share for the twelve-month period ended December 31, 2021 were calculated based on 512,301,577 shares outstanding as of December 31, 2021 and for the twelve-month period ended December 31, 2020 were calculated based on 525,575,547 shares outstanding as of December 31, 2020. U.S. dollar figures presented were converted from pesos to U.S. dollars at a rate of Ps. 20.5140 per U.S. dollar (the noon buying rate on December 30, 2021, as published by the U.S. Federal Reserve Board).}
^{- For purposes of the consolidation of the Montego Bay and Kingston airports, the average twelve-month exchange rate of Ps. 20.2813 per U.S. dollar for the twelve months ended December 31, 2021 was used.}

Exhibit A: Operating results by airport (in thousands of pesos):
Airport	4Q20		4Q21		Change	2020		2021	Change
Guadalajara
Aeronautical services	616,720		931,617		51.1%	2,103,574		3,296,419	56.7%
Non-aeronautical services	165,172		194,625		17.8%	591,789		783,252	32.4%
Improvements to concession assets (IFRIC 12)	(162,341	)	618,541		(481.0%)	614,479		1,463,854	138.2%
Total Revenues	619,550		1,744,783		181.6%	3,309,843		5,543,525	67.5%
Operating income	476,442		726,471		52.5%	1,472,456		2,614,203	77.5%
EBITDA	570,020		824,268		44.6%	1,841,420		3,004,596	63.2%

Tijuana
Aeronautical services	386,053		598,630		55.1%	1,192,187		1,944,451	63.1%
Non-aeronautical services	101,604		116,129		14.3%	335,419		431,706	28.7%
Improvements to concession assets (IFRIC 12)	251,975		(344,806	)	(236.8%)	681,755		876,292	28.5%
Total Revenues	739,632		369,952		(50.0%)	2,209,360		3,252,448	47.2%
Operating income	305,640		457,399		49.7%	802,056		1,496,257	86.6%
EBITDA	371,574		520,735		40.1%	1,056,690		1,751,728	65.8%

Los Cabos
Aeronautical services	302,097		599,211		98.4%	971,021		2,003,087	106.3%
Non-aeronautical services	131,607		236,312		79.6%	460,939		839,580	82.1%
Improvements to concession assets (IFRIC 12)	(147,818	)	186,589		(226.2%)	339,231		520,812	53.5%
Total Revenues	285,886		1,022,112		257.5%	1,771,191		3,363,479	89.9%
Operating income	256,497		594,497		131.8%	756,630		1,961,757	159.3%
EBITDA	322,814		662,131		105.1%	1,022,211		2,223,223	117.5%

Puerto Vallarta
Aeronautical services	188,780		442,359		134.3%	776,424		1,336,177	72.1%
Non-aeronautical services	61,282		105,730		72.5%	266,442		389,823	46.3%
Improvements to concession assets (IFRIC 12)	(274,094	)	52,217		(119.1%)	67,026		285,667	326.2%
Total Revenues	(24,031	)	600,306		(2598.0%)	1,109,892		2,011,667	81.2%
Operating income	110,257		359,079		225.7%	526,761		1,082,157	105.4%
EBITDA	153,566		403,118		162.5%	695,340		1,258,720	81.0%

Montego Bay
Aeronautical services	106,876		313,013		192.9%	695,879		1,004,076	44.3%
Non-aeronautical services	71,295		136,844		91.9%	327,158		454,519	38.9%
Improvements to concession assets (IFRIC 12)	38,394		37,263		(2.9%)	138,768		93,205	(32.8%)
Total Revenues	216,565		487,119		124.9%	1,161,805		1,551,800	33.6%
Operating (loss) income	(55,974	)	160,702		387.1%	(88,901	)	406,256	557.0%
EBITDA	71,228		284,621		299.6%	423,197		892,070	110.8%


Exhibit A: Operating results by airport (in thousands of pesos): (continued)
Airport	4Q20		4Q21		Change	2020		2021	Change
Guanajuato
Aeronautical services	100,799		157,213		56.0%	338,633		570,402	68.4%
Non-aeronautical services	29,389		31,241		6.3%	113,826		131,977	15.9%
Improvements to concession assets (IFRIC 12)	(61,075	)	(334	)	(99.5%)	36,334		8,947	(75.4%)
Total Revenues	69,114		188,120		172.2%	488,793		711,326	45.5%
Operating (loss) income	65,149		110,114		69.0%	216,044		416,623	92.8%
EBITDA	83,699		129,752		55.0%	288,406		492,584	70.8%

Hermosillo
Aeronautical services	64,405		106,590		65.5%	204,650		341,493	66.9%
Non-aeronautical services	17,327		16,523		(4.6%)	64,609		70,135	8.6%
Improvements to concession assets (IFRIC 12)	6,287		4,124		(34.4%)	19,329		17,148	(11.3%)
Total Revenues	88,018		127,237		44.6%	288,588		428,776	48.6%
Operating (loss) income	28,329		52,727		(86.1%)	57,770		155,691	169.5%
EBITDA	47,548		71,085		49.5%	134,100		231,511	72.6%

Others (1)
Aeronautical services	257,708		422,712		64.0%	943,415		1,487,850	57.7%
Non-aeronautical services	72,770		86,054		18.3%	287,828		343,913	19.5%
Improvements to concession assets (IFRIC 12)	(32,208	)	(14,454	)	(55.1%)	295,658		102,587	(65.3%)
Total Revenues	298,271		494,312		65.7%	1,526,901		1,934,351	26.7%
Operating (loss) income	29,366		116,191		(295.7%)	(30,745	)	305,253	1092.9%
EBITDA	91,161		181,645		99.3%	210,022		574,931	173.7%

Total
Aeronautical services	2,023,439		3,571,344		76.5%	7,225,742		11,983,954	65.9%
Non-aeronautical services	650,446		923,457		42.0%	2,448,053		3,444,905	40.7%
Improvements to concession assets (IFRIC 12)	(380,879	)	539,140		(241.6%)	2,192,578		3,368,511	53.6%
Total Revenues	2,293,005		5,033,942		119.5%	11,866,373		18,797,372	58.4%
Operating income	1,215,707		2,577,180		112.0%	3,712,071		8,438,197	127.3%
EBITDA	1,711,609		3,077,354		79.8%	5,671,387		10,429,363	83.9%

^{(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 December 31 (in thousands of pesos):
	2020		2021		Change		%
Assets
Current assets
Cash and cash equivalents	14,444,549		13,332,877		(1,111,672	)	(7.7%)
Trade accounts receivable - Net	1,266,005		1,720,475		454,469		35.9%
Other current assets	1,135,555		1,344,223		208,668		18.4%
Total current assets	16,846,109		16,397,575		(448,534	)	(2.7%)

Advanced payments to suppliers	464,675		923,795		459,120		98.8%
Machinery, equipment and improvements to leased buildings - Net	2,146,232		3,094,220		947,988		44.2%
Improvements to concession assets - Net	13,763,840		16,857,852		3,094,012		22.5%
Airport concessions - Net	10,649,220		10,328,521		(320,699	)	(3.0%)
Rights to use airport facilities - Net	1,281,801		1,208,406		(73,395	)	(5.7%)
Deferred income taxes - Net	5,966,363		6,230,886		264,523		4.4%
Other non-current assets	242,933		281,830		38,898		16.0%
Total assets	51,361,173		55,323,085		3,961,912		7.7%

Liabilities
Current liabilities	5,262,675		9,362,958		4,100,283		77.9%
Long-term liabilities	23,245,715		25,531,527		2,285,812		9.8%
Total liabilities	28,508,390		34,894,485		6,386,095		22.4%

Stockholders' Equity
Common stock	6,185,082		170,381		(6,014,701	)	(97.2%)
Legal reserve	1,592,551		1,592,551		-		0.0%
Net income	1,968,856		5,997,492		4,028,636		204.6%
Retained earnings	9,940,035		7,927,599		(2,012,436	)	(20.2%)
Reserve for share repurchase	3,283,374		5,531,292		2,247,918		68.5%
Repurchased shares	(1,733,374	)	(3,000,037	)	(1,266,663	)	73.1%
Foreign currency translation reserve	1,037,446		1,034,233		(3,213	)	(0.3%)
Remeasurements of employee benefit – Net	(10,052	)	5,211		15,263		151.8%
Cash flow hedges- Net	(471,107	)	29,658		500,765		106.3%
Total controlling interest	21,792,811		19,288,380		(2,504,430	)	(11.5%)
Non-controlling interest	1,059,972		1,140,220		80,247		7.6%
Total stockholder's equity	22,852,783		20,428,600		(2,424,183	)	(10.6%)

Total liabilities and stockholders' equity	51,361,173		55,323,085		3,961,912		7.7%

^{The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited (“Vantage”).}

Exhibit C: Consolidated statement of cash flows (in thousands of pesos):
	4Q20		4Q21		Change	2020		2021		Change
Cash flows from operating activities:
Consolidated net income	340,411		1,802,434		429.5%	1,918,703		6,043,717		215.0%

Postemployment benefit costs	11,076		(10,057	)	(190.8%)	31,382		3,312		(89.4%)
Allowance expected credit loss	(26,480	)	(17,153	)	(35.2%)	86,596		15,487		(82.1%)
Depreciation and amortization	506,148		519,409		2.6%	2,000,361		2,050,539		2.5%
(Gain) loss on sale of machinery, equipment and improvements to leased assets	1,604		(2,132	)	(232.9%)	(14,375	)	(3,490	)	(75.7%)
Interest expense	352,339		459,578		30.4%	1,388,072		1,687,895		21.6%
Provisions	882		15,437		1650.2%	425		11,754		2665.6%
Income tax expense	53,228		604,778		1036.2%	467,067		1,785,543		282.3%
Unrealized exchange loss	(454,485	)	13,675		103.0%	57,780		(5,427	)	(109.4%)
Net (gain) loss on derivative financial instruments	(4,397	)	(51,656	)	1074.8%	43,778		(51,656	)	(218.0%)
	780,326		3,334,313		327.3%	5,979,789		11,537,673		92.9%
Changes in working capital:
(Increase) decrease in
Trade accounts receivable	81,986		(280,531	)	(442.2%)	164,258		(464,395	)	(382.7%)
Recoverable tax on assets and other assets	(189,087	)	(190,987	)	1.0%	(814,271	)	(299,842	)	(63.2%)
(Decrease) increase
Concession taxes payable	106,569		37,673		(64.6%)	(253,633	)	94,879		137.4%
Accounts payable	(33,130	)	926,703		2897.2%	(697,613	)	1,244,251		278.4%
Cash generated by operating activities	746,664		3,827,171		412.6%	4,378,532		12,112,566		176.6%
Income taxes paid	30,604		(302,646	)	(1088.9%)	(811,965	)	(1,017,120	)	25.3%
Net cash flows provided by operating activities	777,268		3,524,524		353.5%	3,566,567		11,095,446		211.1%

Cash flows from investing activities:
Machinery, equipment and improvements to concession assets	(898,602	)	(2,146,804	)	138.9%	(3,160,111	)	(4,946,784	)	56.5%
Cash flows from sales of machinery and equipment	3,062		226		(92.6%)	6,248		3,215		(48.5%)
Other investment activities	288		(13,756	)	(4876.4%)	(63,828	)	(25,739	)	(59.7%)
Net cash used by investment activities	(895,252	)	(2,160,333	)	141.3%	(3,217,691	)	(4,969,308	)	54.4%

Cash flows from financing activities:
Capital distribution	-		-		0.0%	-		(6,014,701	)	(100.0%)
Debt securities	-		2,500,000		100.0%	7,200,000		7,000,000		(2.8%)
Payment from Debt securities	-		-		0.0%	(2,200,000	)	(1,500,000	)	(31.8%)
Bank loans	-		(81,512	)	(100.0%)	-		(5,941,663	)	(100.0%)
Repurchase of shares	-		(637,697	)	(100.0%)	-		(3,000,037	)	(100.0%)
Interest paid	(417,087	)	(538,138	)	29.0%	(1,405,139	)	(1,659,473	)	18.1%
Bank loans	(96,535	)	-		(100.0%)	2,709,125		3,779,413		39.5%
Interest paid on lease	(564	)	(1,257	)	122.9%	(2,582	)	(2,598	)	0.6%
Payments of obligations for leasing	(3,029	)	(3,427	)	13.1%	(12,977	)	(12,467	)	(3.9%)
Net cash flows used in financing activities	(517,215	)	1,237,969		(339.4%)	6,288,427		(7,351,525	)	(216.9%)

Effects of exchange rate changes on cash held	(140,686	)	79,877		(156.8%)	307,053		113,715		(63.0%)
Net increase in cash and cash equivalents	(775,885	)	2,682,037		(445.7%)	6,944,356		(1,111,672	)	(116.0%)
Cash and cash equivalents at beginning of the period	15,220,432		10,650,840		(30.0%)	7,500,193		14,444,549		92.6%
Cash and cash equivalents at the end of the period	14,444,549		13,332,877		(7.7%)	14,444,549		13,332,877		(7.7%)

Exhibit D: Consolidated statements of profit or loss and other comprehensive income (in thousands of pesos):
	4Q20		4Q21		Change	2020		2021		Change
Revenues
Aeronautical services	2,023,398		3,571,344		76.5%	7,225,742		11,983,954		65.9%
Non-aeronautical services	650,490		1,077,886		65.7%	2,448,053		3,662,441		49.6%
Improvements to concession assets (IFRIC 12)	(329,479	)	539,140		263.6%	2,192,578		3,368,511		53.6%
Total revenues	2,344,408		5,188,370		121.3%	11,866,373		19,014,906		60.2%

Operating costs
Costs of services:	638,350		881,966		38.2%	2,668,707		2,989,631		12.0%
Employee costs	235,311		306,052		30.1%	970,481		1,115,750		15.0%
Maintenance	130,976		206,595		57.7%	426,523		546,548		28.1%
Safety, security & insurance	120,358		137,293		14.1%	458,316		510,440		11.4%
Utilities	83,106		107,333		29.2%	355,562		391,836		10.2%
Other operating expenses	68,599		124,693		81.8%	457,825		425,057		(7.2%)

Technical assistance fees	89,858		155,717		73.3%	289,154		526,220		82.0%
Concession taxes	193,414		359,403		85.8%	908,310		1,231,044		35.5%
Depreciation and amortization	506,148		519,409		2.6%	2,000,361		2,050,539		2.5%
Cost of improvements to concession assets (IFRIC 12)	(329,479	)	539,140		263.6%	2,192,578		3,368,511		53.6%
Other (income)	(14,361	)	(2,857	)	(80.1%)	(12,726	)	(8,231	)	(35.3%)
Total operating costs	1,083,930		2,452,777		126.3%	8,046,384		10,157,714		26.2%
Income from operations	1,260,478		2,735,593		117.0%	3,819,989		8,857,192		131.9%
Financial Result	(866,839	)	(328,381	)	(62.1%)	(1,434,222	)	(1,027,929	)	(28.3%)
Income before income taxes	393,639		2,407,212		511.5%	2,385,770		7,829,263		228.2%
Income taxes	(53,228	)	(604,778	)	1036.2%	(467,067	)	(1,785,546	)	282.3%
Net income	340,411		1,802,434		429.5%	1,918,703		6,043,717		215.0%
Currency translation effect	(643,284	)	55,056		108.6%	580,308		30,810		(94.7%)
Cash flow hedges, net of income tax	(9,355	)	96,525		1131.8%	(299,013	)	500,765		(267.5%)
Remeasurements of employee benefit – net income tax	4,680		3,649		22.0%	(16,658	)	15,263		191.6%
Comprehensive (loss) income	(307,548	)	1,957,664		(736.5%)	2,183,340		6,590,555		201.9%
Non-controlling interest	90,102		(35,128	)	(139.0%)	(18,701	)	(80,248	)	(329.1%)
Comprehensive (loss) income attributable to controlling interest	(217,446	)	1,922,536		984.1%	2,164,639		6,510,307		200.8%

^{The non-controlling interest corresponds to the 25.5% stake held in the Montego Bay airport by Vantage Airport Group Limited (“Vantage”).}

Exhibit E: Consolidated stockholders’ equity (in thousands of pesos):
	Common Stock		Legal Reseve	Reserve for Share Repurchase		Repurchased Shares		Retained Earnings		Other comprehensive income		Total controlling interest		Non-controlling interest		Total Stockholders' Equity
Balance as of January 1, 2020	6,185,082		1,592,551	3,283,374		(1,733,374	)	9,940,035		360,504		19,628,172		1,041,271		20,669,443
Comprehensive income:
Net income	-		-	-		-		1,968,856		-		1,968,856		(50,153	)	1,918,703
Foreign currency translation reserve	-		-	-		-		-		511,454		511,454		68,854		580,308
Remeasurements of employee benefit – Net	-		-	-		-		-		(16,658	)	(16,658	)	-		(16,658	)
Reserve for cash flow hedges – Net of income tax	-		-	-		-		-		(299,013	)	(299,013	)	-		(299,013	)
Balance as of December 31, 2020	6,185,082		1,592,551	3,283,374		(1,733,374	)	11,908,891		556,287		21,792,811		1,059,972		22,852,783
Capital reduction	(6,014,701	)	-	-		-		-		-		(6,014,701	)	-		(6,014,701	)
Repurchased shares cancellation	-		-	(1,733,374	)	1,733,374		-		-		-		-		-
Reserve for share repurchase	-		-	3,981,292		-		(3,981,292	)	-		-		-		-
Repurchased share	-		-	-		(3,000,037	)	-		-		(3,000,037	)	-		(3,000,037	)
Comprehensive income:	-		-	-		-		-		-		-		-		-
Net income	-		-	-		-		5,997,492		-		5,997,492		46,225		6,043,716
Foreign currency translation reserve	-		-	-		-		-		(3,213	)	(3,213	)	34,023		30,810
Remeasurements of employee benefit – Net	-		-	-		-		-		15,263		15,263		-		15,263
Reserve for cash flow hedges – Net of income tax	-		-	-		-		-		500,765		500,765		-		500,765
Balance as of December 31, 2021	170,381		1,592,551	5,531,292		(3,000,037	)	13,925,091		1,069,102		19,288,380		1,140,220		20,428,600

^{For presentation purposes, the 25.5% stake in Desarrollo de Concesiones Aeroportuarias, S.L. (“DCA”) held by Vantage appears in the Stockholders’ Equity of the Company as a non-controlling interest.}

Exhibit F: Other operating data:
	4Q20	4Q21	Change	2020	2021	Change
Total passengers	8,217.3	12,760.5	55.3%	27,327.5	42,937.2	57.1%
Total cargo volume (in WLUs)	673.7	723.5	7.4%	2,223.2	2,735.5	23.0%
Total WLUs	8,891.0	13,484.0	51.7%	29,550.7	45,672.7	54.6%
			0.0%			0.0%
Aeronautical & non aeronautical services per passenger (pesos)	325.4	364.3	12.0%	354.0	364.4	2.9%
Aeronautical services per WLU (pesos)	227.6	264.9	16.4%	244.5	262.4	7.3%
Non aeronautical services per passenger (pesos)	79.2	84.5	6.7%	89.6	85.3	(4.8%)
Cost of services per WLU (pesos)	71.8	65.4	(8.9%)	90.3	65.5	(27.5%)

^{WLU = Workload units represent passenger traffic plus cargo units (1 cargo unit = 100 kilograms of cargo).}

Domestic Terminal Passengers – 14 airports (in thousands):
Airport	4Q19	4Q21	Change	2019	2021	Change
Guadalajara	2,730.0	2,542.0	(6.9%)	10,495.8	8,540.2	(18.6%)
Tijuana *	1,528.7	1,870.1	22.3%	5,979.7	6,891.3	15.2%
Los Cabos	468.0	575.0	22.8%	1,915.7	2,020.4	5.5%
Puerto Vallarta	468.1	554.3	18.4%	1,839.3	1,848.5	0.5%
Guanajuato	2.4	404.4	(100.0%)	9.2	1,487.1	(100.0%)
Montego Bay	534.6	0.0	(24.4%)	2,056.9	0.0	(27.7%)
Hermosillo	488.1	449.5	(7.9%)	1,803.8	1,457.9	(19.2%)
Mexicali	320.8	324.3	1.1%	1,191.9	1,088.4	(8.7%)
Morelia	136.0	146.9	8.0%	478.8	541.0	13.0%
La Paz	255.0	266.7	4.6%	995.4	901.8	(9.4%)
Aguascalientes	3.2	178.1	(92.8%)	3.2	582.8	(62.8%)
Kingston	169.6	0.2	N/A	635.2	1.2	N/A
Los Mochis	101.6	106.3	4.6%	384.4	358.3	(6.8%)
Manzanillo	24.9	25.7	3.5%	95.3	86.8	(9.0%)
Total	7,231.0	7,443.5	2.9%	27,884.8	25,805.6	(7.5%)
^{*CBX users are classified as international passengers.}

International Terminal Passengers – 14 airports (in thousands):
Airport	4Q19	4Q21	Change	2019	2021	Change
Guadalajara	1,116.0	1,059.5	(5.1%)	4,350.5	3,702.7	(14.9%)
Tijuana *	810.0	885.5	9.3%	2,946.1	2,786.6	(5.4%)
Los Cabos	928.7	1,067.1	14.9%	3,693.4	3,529.2	(4.4%)
Puerto Vallarta	794.3	813.6	2.4%	3,212.5	2,271.5	(29.3%)
Guanajuato	1,083.4	821.3	(24.2%)	4,698.5	2,581.9	(45.0%)
Montego Bay	170.8	184.6	8.1%	698.9	631.9	(9.6%)
Hermosillo	18.6	25.5	37.3%	70.2	102.1	45.3%
Mexicali	1.8	2.0	8.8%	6.9	5.6	(18.8%)
Morelia	106.1	113.2	6.7%	418.9	406.1	(3.1%)
La Paz	3.4	4.6	35.9%	12.8	18.3	43.2%
Aguascalientes	405.5	262.5	(35.3%)	405.5	829.3	104.5%
Kingston	58.9	58.6	N/A	223.2	210.6	N/A
Los Mochis	1.5	2.3	53.4%	6.9	9.4	35.6%
Manzanillo	18.6	16.8	(9.6%)	79.4	46.5	(41.4%)
Total	5,517.5	5,317.0	(3.6%)	20,823.9	17,131.6	(17.7%)
^{*CBX users are classified as international passengers.}

Total Terminal Passengers – 14 airports (in thousands):
Airport	4Q19	4Q21	Change	2019	2021	Change
Guadalajara	3,846.1	3,601.5	(6.4%)	14,846.3	12,243.0	(17.5%)
Tijuana *	2,338.7	2,755.6	17.8%	8,925.9	9,677.9	8.4%
Los Cabos	1,396.7	1,642.1	17.6%	5,609.1	5,549.6	(1.1%)
Puerto Vallarta	1,262.5	1,367.9	8.3%	5,051.9	4,120.0	(18.4%)
Guanajuato	1,085.7	1,051.8	(3.1%)	4,707.7	2,581.9	(45.2%)
Montego Bay	705.4	358.4	(49.2%)	2,755.8	2,119.0	(23.1%)
Hermosillo	506.7	475.0	(6.2%)	1,874.1	1,559.9	(16.8%)
Mexicali	322.6	326.3	1.1%	1,198.8	1,094.0	(8.7%)
Morelia	242.1	260.1	7.4%	897.8	947.1	5.5%
La Paz	258.4	271.3	5.0%	1,008.1	920.0	(8.7%)
Aguascalientes	408.7	273.8	(33.0%)	408.7	830.5	103.2%
Kingston	228.5	225.8	N/A	858.4	793.4	N/A
Los Mochis	103.1	108.6	5.3%	391.3	367.7	(6.0%)
Manzanillo	43.5	42.6	(2.1%)	174.7	133.3	(23.7%)
Total	12,748.5	12,760.6	0.1%	48,708.6	42,937.2	(11.8%)
^{*CBX users are classified as international passengers.}

CBX Users (in thousands):
Airport	4Q19	4Q21	Change	2019	2021	Change
Tijuana	797.0	876.1	9.9%	2,897.9	2,754.3	(10.6%)

Consolidated Results and Other Data compared with 2019 (in thousands of pesos):
	4Q19		4Q21		Change	2019		2021		Change
Revenues
Aeronautical services	2,771,105		3,571,344		28.9%	10,547,720		11,983,954		13.6%
Non-aeronautical services	962,547		1,077,886		12.0%	3,771,500		3,662,441		(2.9%)
Improvements to concession assets (IFRIC 12)	840,402		539,140		(35.8%)	1,906,801		3,368,511		76.7%
Total revenues	4,574,055		5,188,370		13.4%	16,226,020		19,014,906		17.2%

Operating costs
Costs of services:	773,571		881,966		14.0%	2,744,864		2,989,631		8.9%
Employee costs	248,330		306,052		23.2%	877,068		1,115,750		27.2%
Maintenance	176,241		206,595		17.2%	578,510		546,548		(5.5%)
Safety, security & insurance	118,108		137,293		16.2%	428,208		510,440		19.2%
Utilities	110,737		107,333		(3.1%)	380,370		391,836		3.0%
Other operating expenses	120,155		124,693		3.8%	480,708		425,057		(11.6%)

Technical assistance fees	116,536		155,717		33.6%	461,549		526,220		14.0%
Concession taxes	402,758		359,403		(10.8%)	1,318,220		1,231,044		(6.6%)
Depreciation and amortization	489,007		519,409		6.2%	1,776,137		2,050,539		15.4%
Cost of improvements to concession assets (IFRIC 12)	840,402		539,140		(35.8%)	1,906,801		3,368,511		76.7%
Other (income) expense	17,751		(2,858	)	(116.1%)	1,212		(8,231	)	(778.9%)
Total operating costs	2,640,025		2,452,777		(7.1%)	8,208,783		10,157,714		23.7%
Income from operations	1,934,030		2,735,593		41.4%	8,017,238		8,857,192		10.5%

Financial Result	(183,833	)	(328,381	)	78.6%	(671,053	)	(1,027,929	)	53.2%
Income before taxes	1,750,197		2,407,212		37.5%	7,346,185		7,829,263		37.5%
Income taxes	(319,297	)	(604,778	)	89.4%	(1,891,443	)	(1,785,546	)	(5.6%)
Net income	1,430,900		1,802,434		26.0%	5,454,742		6,043,717		10.8%
Currency translation effect	(223,078	)	55,056		(124.7%)	(269,440	)	30,810		(111.4%)
Cash flow hedges, net of income tax	(172,094	)	96,525		(156.1%)	(172,094	)	500,765		(391.0%)
Remeasurements of employee benefit – net income tax	(964	)	3,649		(478.5%)	(1,404	)	15,263		(1187.1%)
Comprehensive income	1,034,764		1,957,664		89.2%	5,011,804		6,590,555		31.5%
Non-controlling interest	3,458		(35,128	)	1115.7%	(74,777	)	(80,248	)	(7.3%)
Comprehensive income attributable to controlling interest	1,038,222		1,922,536		85.2%	4,937,027		6,510,307		31.9%


	4Q19		4Q21		Change	2,019		2,021		Change
EBITDA	2,423,037		3,255,002		34.3%	9,793,375		10,907,730		11.4%
Comprehensive income	1,034,764		1,957,664		89.2%	5,011,804		6,590,555		31.5%
Comprehensive income per share (pesos)	1.8445		3.8213		107.2%	8.9337		12.8646		44.0%
Comprehensive income per ADS (US dollars)	0.9273		1.8628		100.9%	4.4911		6.2711		39.6%

Operating income margin	42.3	%	52.7	%	24.7%	49.4	%	46.6	%	(5.7%)
Operating income margin (excluding IFRIC 12)	51.8	%	58.8	%	13.6%	56.1	%	56.6	%	0.9%
EBITDA margin	53.0	%	62.7	%	18.4%	60.4	%	57.4	%	(5.0%)
EBITDA margin (excluding IFRIC 12)	65.0	%	70.1	%	7.9%	68.4	%	69.7	%	1.9%
Costs of services and improvements / total revenues	35.3	%	27.4	%	(22.4%)	28.7	%	33.4	%	16.6%
Cost of services / total revenues (excluding IFRIC 12)	20.7	%	19.0	%	(8.4%)	19.2	%	19.1	%	(0.3%)

*IR Contacts*:
Saúl Villarreal, Chief Financial Officer	svillarreal@aeropuertosgap.com.mx
Alejandra Soto, IR and Financial Planning Manager	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx / +523338801100 ext. 20294
Maria Barona, i-advize Corporate Communications	mbarona@i-advize.com

		Grupo Aeroportuario del Pacífico, S.A.B. de C.V.
		(Registrant)


Date: February 23, 2022		/s/ SAÚL VILLARREAL GARCÍA
		Saúl Villarreal García
		Chief Financial Officer