ASR - 1Q05 Results -- Converted by SECPublisher 2.1.1.6, created by BCL Technologies Inc., for SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2005

GRUPO AEROPORTUARIO DEL SURESTE S.A. DE C.V.
(SOUTHEAST AIRPORT GROUP)

(Translation of Registrant’s Name Into English)

México

(Jurisdiction of incorporation or organization)

 

Bosque de Alisos No. 474 — 4th Floor
Bosques de las Lomas
05120 México, D.F.

(Address of principal executive offices)

          (Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

        Form 20-F   x     Form 40-F       

        (Indicate by check mark whether the Registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes       No  x  

          (If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-              .)


 


For Immediate Release

ASUR 1Q05 PASSENGER TRAFFIC UP 11.55% YOY

1Q05 Highlights1:

México D.F., April 20, 2005 Grupo Aeroportuario del Sureste, S.A. de C.V. (NYSE:ASR; BMV:ASUR), (ASUR) the first privatized airport group in Mexico and operator of Cancun Airport and eight others in the southeast of Mexico, today announced results for the three-month period ended March 31, 2005.


____________
1 Unless otherwise stated, all financial figures discussed in this announcement are unaudited, prepared in accordance with Generally Accepted Accounting Principles in Mexico, expressed in constant Mexican pesos as of March 31, 2005, and represent comparisons between the three-month period ended March 31, 2005, and the equivalent three-month period ended March 31, 2004. Tables state figures in thousands of pesos, unless otherwise noted. Passenger figures exclude transit and general aviation passengers. Commercial revenues include revenues from the activities of non-permanent ground transportation and parking lots. All U.S. dollar figures are calculated at the exchange rate of US$1 = Ps.11.1783.

 

ASUR 1Q05, Page 1 of 13

Passenger Traffic

 

For the first quarter of 2005, total passenger traffic increased year-over-year by 11.55%; domestic passenger traffic increased by 4.42%; and international passenger traffic increased by 15.00% .

The 4.42% growth in domestic passenger traffic mainly reflects the 4.13% increase in traffic at the Cancun airport.

The 15.00% increase in international passenger traffic resulted mainly from a 13.64% and 21.19% growth in traffic at the Cancun and Cozumel airports, respectively.

Table I:      Domestic Passengers (in thousands) 
Airport 
1Q04 
1Q05 
% 
      Change 
Cancun  443.9  462.2  4.13 




Cozumel  19.1  26.0  36.07 




Huatulco  50.5  56.8  12.28 




Merida  194.5  196.7  1.15 




Minatitlan  30.2  29.1  (3.74) 




Oaxaca  129.3  128.7  (0.46) 




Tapachula  47.6  47.8  0.40 




Veracruz  109.3  118.4  8.30 




Villahermosa  144.7  155.1  7.22 




TOTAL  1,169.2  1,220.8  4.42 




Note: Passenger figures exclude transit and general aviation passengers.

 

Table II:     International Passengers (in thousands) 
Airport 
1Q04 
1Q05 
% 
Change 
Cancun  2,194.9  2,494.4  13.64 




Cozumel  142.8  173.0  21.19 




Huatulco  17.9  33.7  87.68 




Merida  30.3  34.8  15.07 




Minatitlan  0.5  0.7  31.48 




Oaxaca  9.1  17.7  94.61 




Tapachula  0.8  1.3  70.13 




Veracruz  12.4  14.0  13.19 




Villahermosa  8.5  10.1  18.05 




TOTAL  2,417.2  2,779.7  15.00 




Note: Passenger figures exclude transit and general aviation passengers.

 

ASUR 1Q05, Page 2 of 13

Table III:    Total Passengers (in thousands)

Airport 
1Q04 
1Q05 
% 
Change 
Cancun  2,638.8  2,956.6  12.04 




Cozumel  161.9  199.1  22.95 




Huatulco  68.5  90.4  32.05 




Merida  224.7  231.5  3.03 




Minatitlan  30.8  29.8  (3.09) 




Oaxaca  138.4  146.4  5.78 




Tapachula  48.3  49.1  1.53 




Veracruz  121.7  132.4  8.81 




Villahermosa  153.2  165.2  7.82 




TOTAL  3,586.4  4,000.5  11.55 




Note: Passenger figures exclude transit and general aviation passengers. 

Consolidated Results for 1Q05 

Total revenues for 1Q05 increased year-over-year by 22.11% to Ps.590.4 million. This was mainly due to:

ASUR classifies revenues from the following activities as commercial revenues: duty free, car rental, retail, banking and currency exchange, advertising, teleservices, non-permanent ground transportation, food and beverage and parking lots.

Commercial revenues improved year-over-year by 57.17%, mainly due to:

ASUR 1Q05, Page 3 of 13

 

  direct operation of three convenience stores, at the Cancun airport, previously operated by a former concessionaire and the new store openings listed below:

 

Airport  Name  Month Opened 



Cancun  Airport Free Shop  April 2004 



Cancun  Pineda Covalin  May 2004 
Cancun  Sunglass Island  August 2004 
Cancun  Cinco Soles  March 2004 



Cancun T2 Cinco Soles  March & April 2004 
Cancun T2 Airport Free Shop  April 2004 



Cancun T2 Farmacia Payless  May 2004 
Cancun T2 La Perfumeria  October 2004 



Cancun T2 Le Boutique  January 2005 



Cancun T2 Bijoux Terner  December 2004 



Cancun T2 Harley Davidson  December 2004 



Cozumel  Airport Free Shop  April 2004 



Cozumel  Pineda Covalin  June 2004 



Cozumel  Bijoux Terner  February 2005 



Oaxaca  Airport Free Shop  October 2004 



Villahermosa  Airport Free Shop  March 2005 




During 2004, the Company initiated an arbitration process with one of the duty free concessionaires (Dufry Mexico S.A. de C.V.) that operates in the Cancun airport. The dispute relates to the amount paid in rent by this concessionaire for the units it occupies in Terminal 1 of this airport. Arbitration proceedings are at an advanced stage, and a final decision is expected during the second quarter of 2005.

Total operating costs and expenses for 1Q05 increased year-over-year by 16.12% primarily as a result of:

 

ASUR 1Q05, Page 4 of 13

Operating margin for 4Q04 improved to 47.96% from 45.27% in the first quarter of last year. This was mainly driven by the 22.11% increase in revenues, primarily the result of the 15.03% growth in aeronautical revenues, which more than offset the 16.12% increase in costs and expenses for the quarter.

Mexican companies are generally required to pay the greater of their income tax liability or their asset tax liability (determined at a rate of 1.8% of the average tax value of virtually all of the company’s assets (including, in ASUR’s case, its concessions), less the average tax value of certain liabilities (essentially liabilities of companies resident in Mexico, excluding those related to financial institutions and their intermediaries)). ASUR made asset tax payments of Ps.39.8 million for 1Q05. Of these payments, Ps.9.9 million was recorded as an expense in the results for the quarter, which net of the Ps.4.3 million tax credit from the adjustment of 2004 taxes resulted in a net amount of Ps.5.6 million. The difference was recorded as an asset, since the Company expects to recover Ps.29.9 million as a credit against future income tax payments.

Net income for 1Q05 was Ps.215.93 million, a year-over-year increase of 56.55% . Earnings per common share for the quarter were Ps.0.7198, or earnings per ADS (EPADS) (one ADS represents ten series B common shares) of US$0.6439. This compares with Ps. 0.4598, or EPADS of US$0.4113, for the same period last year.

 

 

ASUR 1Q05, Page 5 of 13
Table IV:     Summary of Consolidated Results for 1Q05 
 
1Q04 
1Q05 
% 
 
Change 
Total Revenues 
483,469 
590,370 
22.11 




Aeronautical Services 
377,206 
433,901 
15.03 




Non-Aeronautical Services 
106,264 
156,469 
47.25 




Commercial Revenues 

81,393 
127,925 
57.17 




Operating Profit 
218,876 
283,119 
29.35 




Operating Margin % 
45.27% 
47.96% 
5.93% 




EBITDA 
317,301 
386,919 
21.94 




EBITDA Margin % 
65.63% 
65.54% 
(0.14) 




Net Income 
137,935 
215,930 
56.55 




Net Income per Share 
0.4598 
0.7198 
56.55 




Net Income Per ADS 
0.4113 
0.6439 
56.55 




Note: Figures are shown in thousands of constant Mexican pesos as of March 31, 2005. U.S. dollar figures are calculated at the exchange rate of US$1 = Ps.11.1783.

 

Table V:  Commercial Revenues per Passenger for 1Q05 
 
1Q04 
1Q05 
% 
 
Change 
Total Passengers (‘000)  3,672  4,091  11.43 




Total Commercial  81,393  127,925  57.17 
Revenues       




Commercial revenues from  1,719  19,796  1,051.60 
direct operations(1)       




Commercial revenues  79,674  108,130  35.72 
excluding direct operations       




 
 
Total Commercial Revenue  22.17  31.27  41.06 
per Passenger       




Commercial revenue from  0.47  4.84  929.79 
direct operations per       
passenger(1)       




Commercial revenue per  21.70  26.43  21.08 
passenger (excluding direct       
operations)       




Note: For purposes of this table, include 85.4 thousand and 90.8 thousand transit and general aviation passengers are included for 1Q04 and 1Q05, respectively. Revenue figures are shown in thousand of constant Mexican pesos as of March 31, 2005.
   
  (1) Revenue from direct commercial operations includes two restaurants, a snack bar and three convenience stores. Revenue for 2004 only includes the concession fee from the previous concessionaires.

 

 

ASUR 1Q05, Page 6 of 13

Table VI:      Operating Costs and Expenses for 1Q05 
  1Q04  1Q05  % 
      Change 
     Costs of Services  95,545  126,268  32.16 




     Administrative  29,669  27,214  (8.27) 




     Technical Assistance  16,785  20,460  21.89 




     Concession Fees  24,171  29,509  22.08 




     Depreciation and Amortization  98,425  103,801  5.46 




TOTAL 
264,594  307,251  16.12 




   Note:  Figures are shown in thousands of constant Mexican pesos as of March 31, 2005. 

Tariff Regulation 

The Mexican Ministry of Communications and Transportation regulates the majority of ASUR’s activities through maximum rates, which represent the rates for the maximum possible revenues allowed per traffic unit at each airport.

ASUR’s regulated revenues for 1Q05 were Ps.461.41 million, resulting in an annual average tariff per work load unit of Ps.112.89. ASUR’s regulated revenues accounted for approximately 78.15% of total income for the period.

The Mexican Ministry of Communications and Transportation reviews compliance with the maximum rates on an annual basis at the close of each year.

Balance Sheet

On March 31, 2005, Airport Facility Usage Rights and Airport Concessions represented 83.31% of the Company’s total assets, with current assets representing 12.39% and other assets representing 4.30% .

On March 31, 2005 cash and marketable securities were Ps.1,356.25 million. On the same date, shareholder’s equity was Ps. 12,168.59 million and total liabilities were Ps.775.15 million, representing 94.22% and 5.78% of total assets, respectively. Total deferred liabilities represented 74.78% of the Company’s total liabilities.

Capex

During the quarter, ASUR made investments of Ps.98.07 million as part of the Company’s ongoing plan to modernize its airports.

Corporate Events

By resolution of the Board of Directors adopted in the meeting held on April 11, 2005 and pursuant to the provisions of Articles Thirty-six and Thirty-seven and other provisions of the by-laws of Grupo Aeroportuario del

 

ASUR 1Q05, Page 7 of 13

Sureste, S.A. de C.V. (the “Company”) and Articles 181 and 183 of the General Corporations Law (“Ley General de Sociedades Mercantiles”), the Company’s shareholders are hereby called to attend the General Ordinary Shareholders’ Meeting (the “Meeting”), which will take place at 10:00 a.m. on April 28, 2005, at the Company’s offices in Bosque de Alisos, No. 47-A 3rd Floor, Colonia Bosques de las Lomas, 05120 Mexico City, Mexico to discuss the following:

  I.      Presentation and approval of the report of the Board of Directors in terms of Article 172 of the General Corporations Law in connection with the operations and results for the fiscal year ended December 31, 2004;
  II.      Presentation and approval of the annual report of the Audit Committee regarding its activities as provided by Article 14 Bis 3 of the Securities Market Law (“Ley del Mercado de Valores”);
  III.      Presentation and approval of the report of the Statutory Auditor;
  IV.      Presentation and approval of the individual and consolidated financial statements of the Company for the fiscal year ended December 31, 2004;
  V.      Presentation of the report of the Nominations and Compensation Committee;
  VI.      Proposal regarding the application of the Company’s results for the year ended December 31, 2004; proposal to increase the legal reserve of the Company by Ps.30,349,597.13; proposal to increase the reserve account for the repurchase of the Company’s shares by Ps.328,804,338.96.
  VII.      Proposal of the Board of Directors to pay a net ordinary cash dividend of Ps.0.62 per share for each outstanding Series “B” or “BB” share;
  VIII.      Appointment and/or ratification of the proprietary and alternate members of the Board of Directors and Statutory Auditors.
    Resolutions relating thereto;
  IX.      Appointment of an audit committee financial expert;
  X.      Resolutions regarding the remuneration to be paid to the plenary and alternate members of the Board of Directors and Statutory Auditors;
  XI.      Appointment of Delegates in order to formalize the resolutions adopted in this General Annual Ordinary Shareholders’ Meeting.
    Resolutions relating thereto.
 

1Q05 Earnings Conference Call

Day: April 21, 2005
Time: 11:00 AM US EST; 10:00 AM Mexico City time
Dial-in numbers: (800) 344-1005 (US & Canada)
(706) 634-1333 (International & Mexico)
   

 

 

ASUR 1Q05, Page 8 of 13
Access Code:  5582293 
Replay:  Starting Thursday, April 21 at 2:00 PM US EST, ending at 
  midnight US EDT on Thursday, April 28. Dial-in number: 
  (800) 642-1687 (US & Canada); (706) 645-9291 
  (International & Mexico). Access Code: 5582293 

About ASUR:

Grupo Aeroportuario del Sureste, S.A. de C.V. (ASUR) is a Mexican airport operator with concessions to operate, maintain and develop the airports of Cancun, Merida, Cozumel, Villahermosa, Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlan in the southeast of Mexico. The Company is listed both on the NYSE in the U.S., where it trades under the symbol ASR, and on the Mexican Bolsa, where it trades under the symbol ASUR. One ADS represents ten (10) series B shares.

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in ASUR’s filings with the SEC. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

# # # TABLES TO FOLLOW # # #


ASUR 1Q05, Page 9 of 13


Operating Results per Airport 
 
1Q04 
1Q05 
% 
 
Change 
Cancun       




Aeronautical  228,795  330,828  44.59 
Revenues       




Non-aeronautical  81,337  127,945  57.30 
Revenues       




Operating Profit  206,946  260,955  26.10 




EBITDA  269,013  327,290  21.66 




Cozumel       




Aeronautical  16,247  22,939  41.19 
Revenues       




Non-aeronautical  4,766  5,838  22.49 
Revenues       




Operating Profit  5,277  12,385  134.70 




EBITDA  10,412  17,625  69.28 




Merida       




Aeronautical  20,798  21,403  2.91 
Revenues       




Non-aeronautical  7,780  7,639  (1.81) 
Revenues       




Operating Profit  1,928  4,032  109.13 




EBITDA  10,604  11,727  10.59 




Villahermosa       




Aeronautical  13,978  14,581  4.31 
Revenues       




Non-aeronautical  3,953  4,508  14.04 
Revenues       




Operating Profit  3,727  5,033  35.04 




EBITDA  8,883  10,472  17.89 




Others       




Aeronautical  37,387  44,151  18.09 
Revenues       




Non-aeronautical  8,428  10,540  25.06 
Revenues       




Operating Profit  (4,695)  713  (115.19) 




Others  12,184  19,806  62.56 




TOTAL       




Aeronautical  377,206  433,901  15.03 
Revenues       




Non-aeronautical  106,264  156,469  47.25 
Revenues       




Operating Profit  218,876  283,119  29.35 




EBITDA  317,301  386,919  21.94 




Note: All figures are in thousands of constant Mexican pesos as of March 31,  2005. 

 

 

ASUR 1Q05, Page 10 of 13

Grupo Aeroportuario del Sureste, S.A. de C.V.
Consolidated Balance Sheet as of March 31 st, 2005 and 2004
Thousands of Mexican pesos in purchasing power as of March 31 st, 2005
 
 I t e m   March 2004   March 2005   Variation   %
                 
                                       A s s e t s                 
Current Assets                 
     Cash and cash equivalents    976,613    1,356,254    379,641    38.87 
     Trade receivables, net    248,639    269,103    20,465    8.23 
     Recoverable taxes and other current assets    67,635    36,656    (30,979)    (45.80) 




Total Current Assets    1,292,887    1,662,014    369,127    28.55 
 
Fixed Assets                 
     Machinery, furniture and equipment, net    84,184    90,234    6,050    7.19 
     Rights to use airport facilities, net    2,219,439    2,149,047    (70,391)    (3.17) 
     Improvements to use airport facilities, net    1,023,480    1,171,763    148,283    14.49 
     Constructions in process    126,169    362,012    235,843    186.93 
     Others    11,352    8,900    (2,452)    (21.60) 




Total Fixed Assets    3,464,624    3,781,957    317,334    9.16 
 
Defferred Assets                 
     Airports concessions, net    8,088,158    7,854,951    (233,207)    (2.88) 
     Defferred income taxes    -    -    -    - 
     Other    16,248    115,714    99,466    612.16 




Total Defferred Assets    8,104,406    7,970,666    (133,741)    (1.65) 
 
                                   Total Assets    12,861,917    13,414,637    552,720    4.30 
 
               Liabilities and Stockholder's Equity                 
Current Liabilities                 
     Trade accounts payable    3,883    5,484    1,601    41.23 
     Notes payable    -    -    -    - 
     Accrued expenses and others payables    143,050    169,902    26,852    18.77 




Total Current Liabilities    146,932    175,385    28,453    19.36 
 
Long term liabilities                 
     Other    14,463    20,103    5,640    38.99 
     Defferred income taxes    492,195    541,548    49,353    10.03 
     Defferred employees profit sharing    39,128    37,496    (1,632)    (4.17) 
     Labor Obligations    609    617    9    1.40 




Total long term liabilities    546,396    599,765    53,369    9.77 
 
Total Liabilities    693,329    775,150    81,822    11.80 
 
                             Stockholder's Equity                 
     Capital stock    11,563,155    11,563,155    0    0.00 
     Legal Reserve    54,782    69,423    14,641    26.73 
     Share repurchase reserve    -    161,181    161,181    - 
     Net Income for the period    137,935    215,930    77,995    56.54 
     Retained earnings    412,716    629,797    217,081    52.60 




     Total stockholderps Equity    12,168,588    12,639,487    470,899    3.87 
 
Total Liabilities ans Stockholder's Equity    12,861,917    13,414,637    552,720    4.30 





ASUR 1Q05, Page 11 of 13
Grupo Aeroportuario del Sureste, S.A. de C.V.
Consolidated Statement of Income from January 1st to March 31st, 2005 and 2004
Thousands of Mexican pesos in purchasing power as of March 31 st, 2005
 
I t e m 
 
 
Accumulative 
2004 
Accumulative 
2005 
Variation 
% 
Quarter 
2004 
Quarter 
2005 
Variation 
% 
 
                         
Revenues                         
           Aeronautical Services    377,206    433,901    15.03    377,206    433,901    15.03 
                         
           Non-Aeronautical Services    106,264    156,469    47.25    106,264    156,469    47.25 






                         
Total Revenues    483,469    590,370    22.11    483,469    590,370    22.11 
                         
Operating Expenses                         
                         
           Cost of services    95,545    126,268    32.16    95,545    126,268    32.16 
           General and administrative expenses    29,669    27,214    (8.27)    29,669    27,214    (8.27) 
           Technical Assistance    16,785    20,460    21.89    16,785    20,460    21.89 
           Concession fee    24,171    29,509    22.09    24,171    29,509    22.09 
           Depreciation and Amortization    98,425    103,801    5.46    98,425    103,801    5.46 






Total Operating Expenses    264,594    307,251    16.12    264,594    307,251    16.12 
                         
Operating Income    218,876    283,119    29.35    218,876    283,119    29.35 
                         
Comprehensive Financing cost    (5,153)    2,469    (147.92)    (5,153)    2,469    (147.92) 






                         
Extraordinary and Special Items                         
           Rescue Clause    2,675    -    (100.00)    2,675   
- 
  (100.00) 
           Special items ( NMO Restructuring )    3,527    15    (99.60)    3,527    15    (99.60) 
                         
Income Before Income Taxes    207,520    285,573    37.61    207,520    285,573    37.61 
                         
           Provision for Income Taxes    12,944    5,639    (56.44)    12,944    5,639    (56.44) 
           Defferred income taxes    56,641    64,004    13.00    56,641    64,004    13.00 
           Defferred employees profit sharing    -    -    -    -    -    - 






                         
           Net Income for the Year    137,935    215,930    56.55    137,935    215,930    56.55 






                         
Earning per share    0.4598    0.7198    56.55    0.4598    0.7198    56.55 
Earning per ads usd    0.4113    0.6439    56.55    0.4113    0.6439    56.55 
Exchange rate per dollar 11.1783                         

 






ASUR 1Q05, Page 12 of 13
Grupo Aeroportuario del Sureste, S.A. de C.V. 
Consolidated Statement of Changes in Financial Position from January 1st to March 31st, 2005 and 2004 
Thousands of Mexican pesos in purchasing power as of March 31 st, 2005 
 
I t e m    Accumulative    Accumulative    Variation    Quarter    Quarter    Variation 
    2004    2005    %    2004    2005    % 
                         
Net Income for the Year    137,935    215,930    56.54    137,935    215,930    56.54 
 Depreciation and Amortization    98,425    103,801    5.46    98,425    103,801    5.46 
Resources provided by operations    236,360    319,731    35.27    236,360    319,731    35.27 
Changes in operating assets and liabilities:                         
Decrease (increase) in:                         
 Trade receivables    (67,884)    (55,133)    (18.78)    (67,884)    (55,133)    (18.78) 
 Recoverable taxes and other current assets    65,700    (5,281)    (108.04)    65,700    (5,281)    (108.04) 
 Other defferred assets    (181)    (1,256)    595.27    (181)    (1,256)    595.27 
Increase (decrease) in:                         
 Trade accounts payable    (6,923)    (5,603)    (19.07)    (6,923)    (5,603)    (19.07) 
 Accrued expenses and others payables    3,365    2,293    (31.85)    3,365    2,293    (31.85) 
   Long term liabilities    23,860    44,488    86.46    23,860    44,488    86.46 






Resources provided by (used for) working capital    17,937    (20,490)    (214.24)    17,937    (20,490)    (214.24) 
Resources provided by (used for) operating activities    254,297    299,241    17.67    254,297    299,241    17.67 
Resources provided by (used for) financing activities:    -    -    -    -    -    - 






 Notes payable    -        -    -    -    - 
 Others    -        -    -    -    - 
Resources provided by (used for) investing activities:    (30,821)    (98,075)    218.21    (30,821)    (98,075)    218.21 






 Investments in machinery, furniture and equipment, net    (2,894)    (9,179)    217.18    (2,894)    (9,179)    217.18 
 Investments in rights to use airport facilities    (266)    0    (100.01)    (266)    0    (100.01) 
 Investments in constructions in process    (22,094)    (101,290)    358.44    (22,094)    (101,290)    358.44 
 Investments in others    (5,567)    12,394    (322.63)    (5,567)    12,394    (322.63) 
Increase (Decrease) in cash and cash equivalents    223,476    201,166    (9.98)    223,476    201,166    (9.98) 
Cash and cash equivalents at beginning of the financial period    753,137    1,155,088    53.37    753,137    1,155,088    53.37 
Cash and cash equivalents at the end of the financial period    976,613    1,356,254    38.87    976,613    1,356,254    38.87 






 


ASUR 1Q05, Page 13 of 13

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Grupo Aeroportuario del Sureste, S.A. de C.V.
 


By:   /s/ ADOLFO CASTRO RIVAS      
               Adolfo Castro Rivas
               Director of Finance

Date: April 20, 2005