DGAP-News: JSC –Aeroflot – Russian Airlines–: NET PROFIT OF AEROFLOT GROUP FOR 1H2011 SURPASSED THE RESULT FOR THE SAME PERIOD OF THE PREVIOUS YEAR AND TOTALED $376.8 mln ACCORDING TO IFRS
EquityStory.RS, LLC-News: JSC Aeroflot – Russian Airlines / Key
word(s): Half Year Results
JSC –Aeroflot – Russian Airlines–: NET PROFIT OF AEROFLOT GROUP FOR
1H2011 SURPASSED THE RESULT FOR THE SAME PERIOD OF THE PREVIOUS YEAR
AND TOTALED $376.8 mln ACCORDING TO IFRS
27.09.2011 / 18:00
–Aeroflot – Russian Airlines–
Address: 119002, Moscow, Arbat st., 10
NET PROFIT OF AEROFLOT GROUP FOR 1H2011 SURPASSED THE RESULT FOR THE SAME
PERIOD OF THE PREVIOUS YEAR AND TOTALED $376.8 mln ACCORDING TO IFRS.
September 27, 2011, Moscow. – The net profit of Aeroflot Group for the
first six months of 2011 according to IFRS reached $376.8 mln, which is
$359.3 million higher than results for the same period in 2010.
Revenue of the Group increased by 26.4% and totaled $2,343.9 mln. Traffic
revenue went up by 21.3% and amounted to $1,928.3 mln. The increase in
sales in 2011 was mainly caused by improvement of the Group–s amount of
The Group–s operating expenses increased by 26.2% and came to $2,139.2
mln. Improvement in volumes of provided services triggered the rise of
operating expenses along with growing jet fuel prices. As of the end of 1H
of 2011 operating profit of Aeroflot Group amounted to $204.7 mln, which is
28.7% higher than results for the same period in 2010.
EBITDA totaled $330.9 mln, which is 20.5% more compare to the 1H2010.
EBITDA margin amounted to 14.1%.
The main reasons of the Group–s net profit growth were increase in amount
of provided services as well as disposal of shares of associated and
subsidiary companies in 1H of 2011: JSC –Moscow– (100% of nominal capital),
CJSC –TZK Sheremetevo– (31% of nominal capital) and CJSC –Date– (50% of
nominal capital), Nordavia (100% of nominal capital)
According to the general director of JSC –Aeroflot– Vitaly Saveliev, sound
financial results performed in 1H of 2011 make the achievement of 2011 year
goals set up by company–s management in increasing operational efficiency
of Aeroflot and its subsidiaries.
Aeroflot – Russia–s leading air carrier, member of the global SkyTeam
alliance with a consolidated route network covering 898 destinations in 169
countries. In 2010, the Aeroflot Group carried 14.07 million passengers.
Aeroflot enters the world top 25 airlines by Air Transport World magazine
for financial and economic results (–operating profit– and –net profit–
category) in 2009.
Aeroflot is the first Russian carrier to have entered the IOSA Registry,
and to have regularly confirmed the certificate.Aeroflot has successfully
passed the ISAGO (IATA Safety Audit for Ground Operations) procedure. The
company–s Quality Management System is certified for compliance with ISO
Aeroflot operates one of Europe–s youngest air fleets that consists of 109
aircraft (as of 16.0.2011). Aeroflot is based in Moscow, at Sheremetyevo
International Airport. Find more at www.aeroflot.ru.
End of Corporate News
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