August 1, 2012, Moscow – JSC “Aeroflot” summed up financial results for 6 months of 2012 in accordance with Russian Accounting Standards (RAS).
Income statement
Revenue of JSC “Aeroflot” totaled 76.9 bln rub., which is 18.9 bln (+32.6 per cent) more compared to results of the same period in 2011.
Improvement of air carriage demand pushed up sales volume and resulted in revenue growth.
Cost of goods sold increased by 14.1 bln rub. (+28.4 per cent) and totaled 63.7 bln rub. Increase in volume of operations became the main driver for the cost of goods sold growth.
Gross profit and profit before tax totaled 13.2 bln rub. and 7.6 bln rub., respectively. Net profit amounted to 5.9 bln rub., which represents decline by 748.1 mln rub. (-11.2 per cent) compared to the results of the same period in 2011. The main reason for net profit decline was a decrease in other income. Decline of other income for the first 6 months of 2012 was driven by a high base effect due to sale of stakes in a number of non-core assets in 2011.
Balance sheet
Total assets of JSC “Aeroflot” increased by 15.0 bln rub. (+15.4 per cent) and totaled 111.7 bln rub. compared to the beginning of 2012.
Company’s long term liabilities declined compared to the beginning of 2012 and totaled 5.6 bln rub. The decrease in long term liabilities is attributed to bond indebtedness reclassification to current liabilities due to the fact that period to maturity of the Company’s bonds is currently less than one year. Current liabilities of JSC “Aeroflot” amounted to 52.2 bln rub.
Aeroflot is Russia’s leading air carrier, member of the global SkyTeam Alliance. Its consolidated route network covers 983 destinations in 178 countries. In 2011 Aeroflot carried over 14 million passengers.
In 2011 SkyTrax put Aeroflot into the top 3 of the ‘most dynamically developing airlines of the world’ and honoured Aeroflot with a prestigious international SkyTrax World Airline Award as ‘the best airline in Eastern Europe’.
In 2010 Air Transport World magazine put Aeroflot at the top 25 world airlines for ‘operational profit’ and ‘net profit’ results.
Aeroflot was the first Russian carrier to enter the IOSA Registry, and has been consistently re-attested. 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.
Aeroflot – General Partner of Sochi 2014 Olympics and Paralympics.
Aeroflot operates one of Europe’s youngest air fleets that consists of 120 aircraft. Aeroflotis based at Moscow Sheremetyevo International Airport. Find more at www.aeroflot.ru.
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