Moscow, 7 November 2014 – JSC Aeroflot (Moscow Exchange ticker: AFLT) announced the financial results for the nine months ended 30 September 2014 in accordance with Russian Accounting Standards (“RAS”). RAS results are presented on an unconsolidated basis for JSC Aeroflot only.
9M 2014 Highlights
· Revenue of RUB 176,747 mln;
· Cost of sales of RUB 143,703 mln;
· Gross profit of RUB 33,044 mln;
· Net profit of RUB 15,061 mln.
Income statement
JSC Aeroflot’s revenue for 9M 2014 increased to RUB 176,747 mln, up 14.0% year-on-year, primarily due to an increase in traffic volumes.
Cost of sales for 9M 2014 was RUB 143,703 mln, up 17.1% year-on-year. This growth was primarily due to changes in foreign currency exchange rates, an increase in traffic volume, and higher costs associated with servicing the Company’s expanded fleet.
Commercial expenses in 9M 2014 totalled RUB 24,671 mln, up 47.0% year-on-year on the back of higher booking costs due to greater traffic volumes, increased spending on advertising and changes in the rouble exchange rate against major international currencies.
Net profit for 9M 2014 was RUB 15,061 mln.
Balance sheet
JSC Aeroflot’s total assets as of 30 September 2014 amounted to RUB 127,900 mln, an increase of 17.5% from 31 December 2013.
As of 30 September 2014, JSC Aeroflot’s long-term liabilities amounted to RUB 13,642 mln, a decrease of 6.1% from 31 December 2013. The Company’s non-current debt decreased by 10.1% during the first nine months of the year to RUB 13,642 mln as of 30 September 2014.
JSC Aeroflot’s current debt increased to RUB 2,755 mln as of 30 September 2014, mainly due to the Company raising funds via a bank loan.
Investor enquiries
Aeroflot Investor Relations
+7 (495) 258-06-86
Media enquiries
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Aeroflot Press Service
+7 (495) 752-90-71 +7 (499) 500-73-87 +7 (495) 753-86-39
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Russia
Tom Blackwell +7 (919) 102-90-64
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UK/Europe
Peter Morley +44 7927 186 645
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North America
Quinn Martin +1 646 629 5502
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About Aeroflot
Aeroflot is Russia’s flagship carrier and one of the largest airline groups in Europe. In 2013, its 90th anniversary year, Aeroflot carried 20.9 million passengers (31.4 million passengers as Aeroflot Group including subsidiaries), a record for any Russian airline. A proud member of the SkyTeam global airline alliance, Aeroflot and its partners serve 1,052 destinations in 177 countries worldwide. Aeroflot operates the youngest fleet in the World (among the major airlines), numbering 152 Airbus, Boeing and Sukhoi airliners. Aeroflot is among the global leaders in aviation safety. The company’s European Community Safety Assessment of Foreign Aircraft (SAFA) Index, which is the main globally recognized safety parameter, is comparable to global peers. The first Russian carrier to enter the IATA Operational Safety Audit (IOSA) register, renewing its registration for the fifth time in 2013, Aeroflot has successfully passed the IATA Safety Audit for Ground Operations (ISAGO) and is fully ISO 9001:2008, ISO 14001:2004 compliant. In 2014 Aeroflot was named by SKYTRAX as the Best Airline in Eastern Europe for the third time. Find more at www.aeroflot.com.
