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Published on : Tuesday, March 1, 2016
Key 2015 financial results for Aeroflot Group:
Revenue increased 29.8% year-on-year to RUB 415,173 million;
EBITDAR1 margin increased 9.6 percentage points (p.p.) year-on-year to 24.8%;
EBITDA1 margin increased 6.3 p.p. year-on-year to 14.1%;
Operating profit of RUB 44,107 million, nearly 4x increase year-on-year;
Net loss of RUB 6,494 million.
Shamil Kurmashov, PJSC Aeroflot Deputy CEO for Finance and Network and Revenue Management, commented:
“Aeroflot Group delivered robust revenue growth in 2015 of 29.8% thanks to a proactive approach to managing the Group’s network and revenues as well as strong operating performance in the domestic segment due to increased demand for domestic flights, combined with a corresponding increase in capacity.
Passenger traffic across the Group was up 13.4% despite the overall decline in the Russian air travel market for the year.“The challenging macroeconomic situation had a significant impact on Group financial results throughout the year. In response to the worsening external backdrop we took a number of steps to optimize the fleet and cut costs, enabling us to limit the growth of operating costs despite significant exchange rate pressure over the course of 2015. As a result, Group operating profit rose to RUB 44.1 billion and the EBITDA and EBITDAR margins increased by 6.3 p.p. and 9.6 p.p. to 14.1% and 24.8%, respectively.
“In the second half of the year Aeroflot Group played a key role in stabilizing the Russian air travel market by successfully carrying out the Russian government’s mandate to transport passengers of Transaero airline.The Group incurred costs of nearly RUB 17 billion, which had negative effect on our results.
“Both operating and financial results for 2015 demonstrated that Aeroflot Group is pursuing the right strategy focused on building one of the world’s leading airline groups. We are confident that consistent implementation of this strategy combined with Aeroflot’s success as a reliable partner and an efficient systematically important player on the Russian market will drive further growth of our passenger traffic, route network and overall business.”