Improved Profitability & MarginsMargins and profitability have recovered materially since 2021, with net and operating margins expanding alongside higher revenue. Sustained margin improvement increases internal cash generation, supports reinvestment in transport and leisure assets, and strengthens resilience to demand swings.
Strong Operating Cash Flow TrendPersistent growth in operating cash flow demonstrates the core business (transportation + leisure) is generating steady, recurring cash. That improves ability to fund maintenance capex, service debt, and invest in tourist assets without relying solely on external financing, boosting durability.
Leverage Materially ImprovedA meaningful reduction in leverage driven by equity growth and lower debt enhances financial flexibility and lowers refinancing risk. With a near-1x ratio, the company has more headroom for strategic spending and can better absorb cyclical tourism revenue swings over the medium term.