Cintra, S.A. de C.V. and subsidiaries
Unaudited Income Statement
(Thousands of pesos as of June 30, 2004)
Second Quarter Cumulative
2004 2003 2004 2003
OPERATING REVENUES:
Domestic Passengers 4,056,193 3,642,809 7,704,112 7,149,208
International
Passengers 2,784,188 2,454,195 5,499,405 5,108,091
Cargo 333,511 293,197 634,402 595,602
Others 1,185,343 901,095 2,054,379 1,526,732
TOTAL REVENUES 8,359,234 7,291,296 15,892,298 14,379,634
OPERATING EXPENSES:
Wages, Salaries
& Benefits 2,508,570 2,510,377 4,975,083 5,053,349
Jet Fuel & Lubs 1,501,557 1,059,100 2,780,568 2,292,274
Traffic and
Stopover Services 866,078 865,212 1,713,205 1,736,424
Maintenance 743,189 728,396 1,466,775 1,474,492
Service to Passengers 228,077 232,282 448,826 454,626
Commissions to Agents 568,849 522,127 1,077,096 1,040,477
Promotion & Sales 506,871 514,622 929,975 922,296
Insurance 111,450 155,415 230,288 329,380
General and
Administrative 287,171 288,822 570,300 583,051
TOTAL OPERATING
EXPENSES 7,321,811 6,876,353 14,192,116 13,886,368
EBITDAR 1,037,424 414,943 1,700,182 493,266
CAPITAL EXPENSES
Rents 885,146 778,068 1,747,827 1,609,036
Depreciation 214,399 256,261 454,120 520,523
TOTAL CAPITAL
EXPENSES 1,099,545 1,034,329 2,201,947 2,129,559
OPERATING INCOME (62,121) (619,386) (501,765) (1,636,293)
INTEGRAL RESULT OF FINANCING
Financial Expenses 97,179 89,456 169,564 185,990
Exchange (Income)
Loss Net 121,210 (83,835) 102,683 14,652
(Gain) Loss on
Monetary Position (6,142) 1,453 (104,142) (81,371)
TOTAL INTEGRAL RESULT
OF FINANCING 212,247 7,075 168,105 119,272
OTHER (INCOME)
EXPENSES 110,468 98,766 208,401 163,274
EXTRAORDINARY
EXPENSES 16,067 32,510 22,503 41,857
INCOME BEFORE TAX (400,903) (757,737) (900,774) (1,960,696)
TAXES 46,331 (46,141) 21,549 (161,675)
NET CONSOLIDATED
INCOME (LOSS) (447,235) (711,596) (922,323) (1,799,021)
MINORITY INTEREST (22,971) (17,536) (42,574) (35,299)
NET INCOME (LOSS) (470,206) (729,132) (964,897) (1,834,320)
CASH FLOW (45,179) 283,061 (996,339) (1,065,974)
OUTSTANDING SHARES
(Millions) 992.4 992.4 992.4 992.4
EARNINGS (LOSS)
PER SHARE (pesos) (0.474) (0.735) (0.972) (1.848)
CASH FLOW
PER SHARE (pesos) (0.046) 0.285 (1.004) (1.074)
2nd Q ´04 1st Q ´04
BALANCE SHEET
Current Assets 6,272,187 5,901,464
Fixed Assets net 7,653,440 7,679,781
Other Assets 5,653,521 5,622,129
Total Assets 19,579,148 19,203,374
Current Liabilities 10,779,454 10,321,011
Long Term Liabilities 6,807,420 6,756,275
Minority Interest 110,424 86,348
Stockholders' Equity 1,881,850 2,039,740
Total Liability + Equity 19,579,148 19,203,374
(As of June 2004 on the New York Foreign Exchange, one USD = 11.51 pesos; one peso = 0.086881 USD)