Aeroflot Reports Net Profit for 1H 2016 RAS Financial Results :: 테마여행신문 TTN Theme Travel News Korea

Aeroflot Reports Net Profit for 1H 2016 RAS Financial Results: 2016.08.03 18:15 입력

1 August 2016, Moscow. – PJSC Aeroflot (Moscow
Exchange: AFLT) today published its financial results for the first six months
of 2016 in accordance with Russian Accounting Standards (RAS). RAS results are
presented on a non-consolidated basis.<o:p></o:p>

6M 2016 Highlights:<o:p></o:p>

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Revenue
stood at RUB 194,150 million, an increase of 24.0% year-on-year, driven by
growth of operational indicators during the period, including a 12.2%
year-on-year rise in Aeroflot airline’s passenger traffic, as well as a
significant FX effect from the portion of PJSC Aeroflot’s revenue denominated
in foreign currency;<o:p></o:p>

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Cost
of sales was RUB 175,021 million, up 18.5% year-on-year, due to higher
operating volumes, increased fleet size, as well as the FX effect from costs
incurred in currencies other than the Russian ruble;<o:p></o:p>

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Gross
profit increased by 2.14x to RUB 19,129 million, reflecting the faster growth
of revenue vs. costs thanks to effective management of key costs and growing
passenger volumes, as well as the factors described above;<o:p></o:p>

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Net
profit was RUB 8,013 million, compared to a net loss of RUB 1,063 million for
the first six months of 2015. This was due to stronger operating results
and additional income such as the sale of airplanes under finance lease
agreements and the return of deposits paid for the delivery of airplanes (PDP),
which caused a positive FX effect.<o:p></o:p>

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Basic
earnings per share were RUB 7.22, compared to a loss per share of RUB 0.96 for
the first six months of 2015.<o:p></o:p>

Shamil Kurmashov, PJSC Aeroflot Deputy
CEO for Commerce and Finance, said:<o:p></o:p>

“Today we are
publishing our financial results prepared under Russian Accounting Standards
for the first half of 2016. Our strong financial results were driven primarily
by our high operational results, with rising passenger numbers and a higher
load factor. During the first half of the year, Aeroflot airline grew passenger
traffic by 12.2% to 13.4 million, while the load factor increased by 2.0 p.p.
to 78.9%. For Aeroflot Group passenger numbers grew by 10.3% to 19.7 million,
with the load factor up by 2.9 p.p. at 78.6%. A significant role in the
achievement of these results was played by our programme to introduce the
latest digital technologies into the company’s management processes; as a
result, Aeroflot has achieved a high level of digitalisation of its business
processes. Effective management of operational capacities and cost-management
programmes based on digital solutions launched last year, as well as an
improvement in the economic environment and effective fleet management, FX
effects on return of pre-delivery payments paid earlier for the supply of
airplanes, and other one-off factors, helped us to achieve a net profit of RUB
8.0 billion for the first half. We continue to focus on maintaining current
trends and believe that the positive results of this reporting period will
enable us to report improved results for the financial year as a whole and to
resume payments of dividends to shareholders of PJSC Aeroflot.”<o:p></o:p>