3 June 2010, Moscow - Aeroflot Group 2009 net profit in accordance with IFRS increased by 261% y-o-y and reached $85,8 million.
The Group was faster in cutting costs than in reducing it’s revenues. As a result, the Aeroflot Group could achieve 28,2% of cost reduction ($ 3 068 million) in the year 2009 with the revenues decreasing ratio of 27,3% ($ 3 345 million).
EBITDA margin has increased up to 14%, compared to 11% in 2008, despite the 10,7% of EBITDA decline in 2009 to the level of $461 million.
Raising net profit & EBITDA margin root in efficiency increase and recovering demand, Shamil Kurmashev, the CFO of the Company says.