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 provided services.
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.
Aeroflotenters 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 9001:2008.
Aeroflotoperates 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.
