Pacific Airport Group | CIK:0001347557 |

30.

Operating segment and geographic information

December 31, 2015

Guadalajara

Tijuana

Puerto

Vallarta

Los Cabos

Montego

Bay

Hermosillo

Bajío

Other

Airports

Total

reportable

segments

Other

Companies

Eliminations

Total

Total revenues

Ps.

2,265,398

Ps.

1,171,362

Ps.

986,010

Ps.

1,240,376

Ps.

995,707

Ps.

315,929

Ps.

374,387

Ps.

757,740

Ps.

8,106,909

Ps.

—

Ps.

—

Ps.

8,106,909

Total intersegment

   revenues

—

—

—

—

—

—

—

—

—

2,869,819

(2,869,819)

—

Income from operations

1,351,741

483,094

576,686.5

663,087.0

531,608.0

110,332.9

205,163.0

117,646.5

4,039,360

2,552,892

(2,503,650)

4,088,600

Interest income

23,683

351

14,533

11,409

28,625

8,319

5,427

13,882

106,229

165,823

(181,163

)

90,889

Interes expense

(60,567

)

(7,965

)

(25,625

)

(38,980

)

(65,446

)

(10,042

)

(8,757

)

(19,317

)

(236,699

)

(153,768

)

181,163

(209,304

)

Depreciation and

   amortization for

   the year

(264,975

)

(133,100

)

(132,076

)

(169,624

)

(220,601

)

(45,364

)

(43,391

)

(137,814

)

(1,146,947

)

(9,488

)

—

(1,156,435

)

Share of loss of associate

—

—

—

—

—

—

—

—

—

(13,704

)

—

(13,704

)

Income before income

   taxes

1,317,731

477,628

573,763

651,470

425,071

109,166

202,117

109,591

3,866,537

2,255,199

(2,503,650)

3,618,086

Income taxes expense

(342,702

)

(96,375

)

(144,532

)

(143,253

)

(73,513

)

(39,829

)

(53,423

)

(10,180

)

(903,809

)

56,500

—

(847,309

)

Total assets

7,721,569

4,678,483

3,451,306

3,574,307

3,268,824

1,336,608

1,194,583

3,505,736

28,731,418

31,013,292

(28,271,310)

31,473,399

Total liabilities

1,568,853

482,440

693,596

1,085,814

1,733,160

274,784

290,126

595,828

6,724,600

6,328,704

(3,735,947)

9,317,356

Net invesment in equity

   investees

—

—

—

—

—

—

—

—

—

92,232

—

92,232

Net cash flows provided

   by operations activities

1,030,285

395,064

476,215

624,153

716,970

158,785

227,176

359,969

3,988,617

628,116

288,020

4,904,753

Net cash flow used in

   investing activities

(216,928

)

(190,172

)

(110,996

)

(162,116

)

(20,744

)

(75,239

)

(59,393

)

(331,656

)

(1,167,242

)

901,976

(3,404,661

)

(3,669,927

)

Net cash flow used in

   financing activities

(540,728

)

(221,647

)

(292,556

)

(189,722

)

(761,266

)

33,105

(72,934

)

118,811

(1,926,937

)

(1,234,888

)

3,327,995

166,171

Additions to non-curren

   as assets

5,397,740

3,125,835

2,447,205

2,608,721

5,322,545

891,345

788,939

2,334,419

22,916,749

144,514

—

23,061,263

December 31, 2016

Guadalajara

Tijuana

Puerto

Vallarta

San José del

Cabo

Montego

Bay

Hermosillo

Bajío

Other

Airports

Total

reportable

segments

Other

Companies

Eliminations

Total

Total revenues

Ps.

3,126,311

Ps.

1,616,014

Ps.

1,251,283

Ps.

1,605,558

Ps.

1,622,031

Ps.

447,451

Ps.

502,340

Ps.

936,040

Ps.

11,107,029

Ps.

532

Ps.

—

Ps.

11,107,561

Total intersegment

   revenues

—

—

—

—

—

—

—

—

—

3,722,428

(3,722,428

)

—

Income from operations

1,735,192

765,929

729,952

893,382

524,139

152,921

251,071

195,508

5,248,095

3,484,359

(3,497,562

)

5,234,892

Interest income

71,363

11,374

25,813

34,894

—

15,414

11,819

20,509

191,186

451,089

(362,705

)

279,570

Interes expense

(96,433

)

(36,905

)

(32,977

)

(56,233

)

(142,405

)

(19,624

)

(15,460

)

(36,374

)

(436,410

)

(308,004

)

362,705

(381,708

)

Gain on financial

   invesmet held for

   trading purposes

—

—

—

—

—

—

—

—

—

68,261

—

68,261

Depreciation and

   amortization for

   the year

(268,391

)

(153,645

)

(139,500

)

(188,376

)

(333,924

)

(49,111

)

(47,960

)

(159,275

)

(1,340,182

)

(8,205

)

—

(1,348,387

)

Share of loss of associate

—

—

—

—

—

—

—

—

—

(11,728

)

—

(11,728

)

Income before income

   taxes

1,712,126

740,569

731,710

894,925

366,464

148,283

244,333

160,475

4,998,886

3,118,808

(3,497,562

)

4,620,132

Income taxes expense

(430,926

)

(175,261

)

(181,021

)

(278,486

)

(97,113

)

(31,073

)

(59,545

)

(22,028

)

(1,275,454

)

8,881

—

(1,266,573

)

Total assets

8,602,939

5,322,674

3,589,999

4,042,519

4,017,963

1,629,746

1,308,647

3,762,056

32,276,543

33,785,689

(30,010,770

)

36,051,462

Total liabilities

2,483,043

1,063,332

893,123

1,507,615

2,000,593

539,716

418,405

899,060

9,804,886

10,226,807

(6,384,800

)

13,646,893

Net invesment in equity

   investees

—

—

—

—

—

—

—

—

—

21,636

—

21,636

Net cash flows provided

   by operations activities

1,612,152

444,953

743,818

1,028,391

753,970

176,530

220,897

326,250

5,306,963

334,240

—

5,641,203

Net cash flow used in

   investing activities

(555,859

)

(427,335

)

(93,100

)

(208,502

)

(45,195

)

(132,778

)

(103,264

)

(278,412

)

(1,844,445

)

3,546,981

(3,519,092

)

(1,816,557

)

Net cash flow used in

   financing activities

(616,854

)

(15,492

)

(506,223

)

(380,419

)

(272,823

)

125,786

(88,231

)

75,641

(1,678,613

)

(3,611,664

)

3,519,092

(1,771,185

)

Additions to non-curren

   as assets

5,757,015

3,411,502

2,456,977

2,638,572

6,117,021

1,002,690

859,982

2,465,893

24,709,652

178,302

—

24,887,954

December 31, 2017

Guadalajara

Tijuana

Puerto

Vallarta

San José del

Cabo

Montego

Bay

Hermosillo

Bajío

Other

Airports

Total

reportable

segments

Other

Companies

Eliminations

Total

Total revenues

Ps.

3,398,484

Ps.

1,666,582

Ps.

1,462,309

Ps.

1,951,865

Ps.

1,852,687

Ps.

510,191

Ps.

625,544

Ps.

893,555

Ps.

12,361,218

Ps.

4,700

Ps.

—

Ps.

12,365,918

Total intersegment

   revenues

—

—

—

—

—

—

—

—

—

4,265,456

(4,265,456)

—

Income from operations

2,072,491

883,966

863,209

1,171,837

565,463

142,836

312,363

201,276

6,213,440

4,323,747

(4,255,456)

6,281,731

Interest income

105,328

45,775

53,166

65,601

—

26,798

15,648

32,674

344,991

750,350

(674,606

)

420,735

Interes expense

(168,112

)

(89,265

)

(52,327

)

(85,706

)

(136,497

)

(35,317

)

(27,125

)

(59,450

)

(653,800

)

(640,015

)

674,606

(619,207

)

Gain on financial invesmet

   held for trading purposes

—

—

—

—

—

—

—

—

—

34,361

—

34,361

Depreciation and

   amortization for the year

(295,445

)

(161,892

)

(142,763

)

(201,241

)

(344,861

)

(59,241

)

(52,836

)

(175,472

)

(1,433,750

)

(9,813

)

—

(1,443,562

)

Share of loss of associate

—

—

—

—

—

—

—

—

—

(10,620

)

—

(10,620

)

Income before income

   taxes

2,008,984

840,689

856,050

1,135,132

445,269

134,220

303,605

188,364

5,912,312

4,514,866

(4,255,456

)

6,171,722

Income taxes expense

(442,764

)

(152,631

)

(184,506

)

(288,786

)

(107,062

)

(12,382

)

(69,271

)

(61,368

)

(1,318,770

)

(121,871

)

—

(1,440,641

)

Total assets

9,289,847

5,541,186

3,875,465

4,133,283

3,068,476

1,715,227

1,475,581

3,749,863

32,848,928

38,598,059

(31,929,455

)

39,517,532

Total liabilities

3,133,738

1,498,785

1,127,055

1,872,045

1,854,290

663,360

571,006

1,022,867

11,743,146

13,871,716

(8,174,099

)

17,440,763

Net invesment in equity

   investees

—

—

—

—

—

—

—

—

—

11,016

—

11,016

Net cash flows provided

   by operations activities

1,852,797

969,246

844,238

1,086,007

788,059

195,867

270,238

381,488

6,387,940

(105,808

)

(113,430

)

6,168,702

Net cash flow used in

   investing activities

(414,701

)

(410,216

)

(184,142

)

(323,649

)

(122,417

)

(202,470

)

(143,243

)

(147,719

)

(1,948,557

)

4,839,982

4,830,000

(1,938,575

)

Net cash flow used in

   financing activities

(1,144,341

)

(560,617

)

(436,447

)

(825,018

)

(287,859

)

(77,101

)

(123,028

)

(232,161

)

(3,686,573

)

(2,830,743

)

4,830,000

(1,687,316

)

Additions to non-curren

   as assets

5,796,853

3,615,601

2,432,387

2,762,873

5,604,397

1,134,216

967,981

2,431,955

24,746,263

318,997

—

25,065,260

•

Geographic information -All business units of the Company are operating in Mexico and Jamaica. The financial information presented above covers the different regions in which these airports operate. Segment revenue has been based on the geographic location of the customers and geographic non-current segment assets were based on the location of the assets. Montego Bay airport corresponds to the Region of Jamaica with geographic revenue of Ps. 995,707, Ps. 1,622,031, and Ps. 1,852,687 during the years ended December 31, 2015, 2016 and 2017 respectively and non-current assets of Ps. 5,322,545, Ps. 6,117,021 and Ps. 5,604,397 as of December 31, 2015, 2016 and 2017 respectively. Geographic revenue from customers located in Mexico amounted to Ps. 7,111,202, Ps. 9,485,530 and Ps. 10,513,231 for the years ended December 31, 2015, 2016 and 2017 and non-current assets physically located in Mexico totaled Ps. 17,738,718, Ps. 18,802,570 and Ps. 19,454,971 at December 31, 2015, 2016, and 2017 respectively. There are no revenues generated from and no non-currents located in Spain.

•

Major Customers -The Company has no dependence on a particularly customer, as 55.3%, 51.9%, and 54.6% of the total revenues for 2015, 2016 and 2017, respectively, corresponds to the passenger charges that are paid for by passengers upon use of the Company’s airport facilities, that is collected by the airlines to be subsequently reimbursed to the airports, and are covered by the airlines through guarantees issued in favor of the airports. Without the revenues from passenger charges that airlines collect on behalf of the Company, no one customer represents more than 10.0% of the consolidated revenues.

•

Major suppliers -The Company has no dependence of particularly supplier, due to, no one supplier represents more than 10% of its capital investments in productive assets and/or of the total operating costs.