Aeroflot Announces 9M 2015 IFRS Financial Results

Published on : Tuesday, December 1, 2015

aeroflotAeroflot Group (“the Group”, Moscow Exchange ticker: AFLT) today published its consolidated interim financial statements for the nine months ended 30 September 2015, in accordance with International Financial Reporting Standards.



9M 2015 Operating and Financial Highlights for Aeroflot Group:

·        Group passenger traffic increased by 13.3% year-on-year, with 34.2% year-on-year growth in the domestic segment;

·        Aeroflot Group increased its market share[1] by 5.0 percentage points (p.p.) year-on-year to 35.2%;

·        Revenue reached RUB 309,510 million, up 30.8% year-on-year;

·        EBITDAR[2] margin was up 8.6 p.p. year-on-year to 25.6%;

·        EBITDA2 margin was up 5.5 p.p. year-on-year to 15.5%;

·        Operating profit more than doubled year-on-year to RUB 36,808 million;

·        Net profit amounted to RUB 1,826 million as compared to net loss of RUB 3,563 million in 9M 2014.



Shamil Kurmashov, PJSC Aeroflot Deputy CEO for Finance and Network and Revenue Management, commented:



“Aeroflot Group’s 9M 2015 results reflect the successful implementation of our initiatives to increase efficiency in challenging economic conditions. Against the backdrop of a general decline in passenger traffic in Russia, Aeroflot Group carried 13.3% more passengers year-on-year during the first nine months of 2015 and increased its market share.



“The Group’s revenue grew by 30.8% year-on-year in 9M 2015, driven by strong operational results. At the same time, our  fleet optimisation and cost-cutting initiatives have enabled us to limit the growth of operating costs, despite significant exchange rate fluctuations.  As a result, EBITDA and EBITDAR margins increased by 5.5 and 8.6 percentage points to 15.5% and 25.6%, respectively. Furthermore, in the third quarter and nine months of 2015, the Group earned net profit of RUB 5.4 billion and RUB 1.8 billion, respectively.



“Between September and November 2015, the Group successfully implemented the task set out by the Russian Government of transporting Transaero passengers, thus preventing a major disruption in the air transportation market. The successful execution of this crisis management project will support passenger traffic dynamics, expansion of our network, and the Group’s profitability doing forward.”



Source:- Aeroflot


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