65% Rise in Net Profit of Aeroflot Group in 9M’2010 against 9M’2009 (IFRS)
Moscow – The net profit of the Aeroflot Group in 9 months 2010 equaled USD281mln that is 65% higher than over the same period last year (IFRS).
A considerable rise in operational parameters on air transportation in 9 months 2010 (+30.4% passenger traffic and + 34.1% passenger turnover) prompts rising revenues. In 9 months 2010 the revenue of the Group went up by 28% and totaled USD3.16bln. Revenue growth outpaced growing costs. Operational costs uplifted by 26% to USD2.719bln.
The EBITDA parameter with the Group increased by 43% compared to the same period of 2009 and came to USD614mln.
EBITDA profitability (EBITDA / Operational Income ratio) rose to 19% in comparison with 17% in 2009.
The Net Debt/EBITDA ratio in 9 months 2010 decreased to 2.3 in relation to the beginning of the year when the parameter was 3.9.
The overall debt of the Group increased by 12% against early 2010 and totaled USD2.136bln mainly due to the bond loan (RUR12 bln).
The net debt of the Group in 9 months 2010 went down by 16% against early 2010 and equaled USD1.490bln through rising funds and short-term investments by 389% to USD645mln. Funds rose due to the operational activity and a bond loan raised.
According to the CEO of Aeroflot Vitaly Saveliev, ‘financial results in 9 months 2010 justify actions of the management of the company aimed at productivity rise.’
Aeroflotis Russia’s leading air carrier, member of the global SkyTeam alliance. Its consolidated route network covers 898 destinations in 169 countries. In 2009, the Aeroflot Group carried 11.1 million passengers.
Aeroflot’sleading position was discovered based on SkyTeam’s Onboard Survey results for April – September 2009.
Aeroflot is among top 25 airlines in the world by Air Transport World magazine in accordance with the results of financial and economic activity in 2009 (Category “operating profit” and “net profit”).
Aeroflot was the first Russian carrier to enter the IOSA Registry, and has multiple times 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 9001:2008.
Aeroflotoperates one of Europe’s youngest air fleets that consists of 103 aircraft. Aeroflot is based in Moscow, in Sheremetyevo International Airport. Find more at www.aeroflot.ru.
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