Aeroflot Announces 12M 2014 RAS Results

04 February 2015

 

Moscow, 3 February 2015 – JSC Aeroflot (Moscow Exchange ticker: AFLT) announced the financial results for the twelve months ended 31 December 2014 in accordance with Russian Accounting Standards (RAS). RAS results are presented on an unconsolidated basis for JSC Aeroflot only.

12M 2014 Highlights

·        Revenue of RUB 240,308 million (16.5% increase y-o-y);

·        Cost of sales of RUB 194,444 million (17.4% increase y-o-y);

·        Gross profit of RUB 45,863 million (12.7% increase y-o-y);

·        Net profit of RUB 13,149 million (18.5% increase y-o-y).

Income statement

JSC Aeroflot’s revenue for 12M 2014 increased to RUB 240,308 million, up 16.5% year-on-year, primarily due to an increase in traffic volumes.

Cost of sales for 12M 2014 was RUB 194,444 million, up 17.4% 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.

Net profit for 12M 2014 amounted to RUB 13,149 million, up by 18.5% year-on year, due to an increase in traffic and higher income from asset revaluation following Russian Rouble depreciation. JSC Aeroflot posted an increase in net profit despite negative trends in the Russian aviation industry.

Financial statements prepared in accordance with RAS partly reflect Company’s results achieved in 2013. Due to this factor the amount of compensation disbursed to the key management personnel of JSC Aeroflot is indicated amounting to RUB 1,500 million. This sum in part comprises compensation based on 2013 performance approved by Annual General Meeting of Shareholders of the Company in 2014.

The amount of JSC Aeroflot key management personnel compensation is directly linked to operational and financial indicators of the Company. According to the terms of the option program compensation to the Management Board and the Board of Directors will not be distributed based on the results of 2014.

Balance sheet

JSC Aeroflot’s total assets as of 31 December 2014 amounted to RUB 145,880 million, an increase of 34.0% from 31 December 2013.

As of 31 December 2014, JSC Aeroflot’s long-term liabilities amounted to RUB 14,138 million, a decrease of 2.6% from 31 December 2013. The Company’s non-current debt decreased by 11.8% during the twelve months of 2014 to RUB 5,000 million as of 31 December 2014.

JSC Aeroflot’s current debt increased to RUB 13,269 million as of 31 December 2014, mainly due to the Company raising funds via a bank loan.

Investor enquiries

Aeroflot Investor Relations

+7 (495) 258-06-86

ir@aeroflot.ru

Media enquiries

 

Aeroflot Press Service

+7 (495) 752-90-71

+7 (499) 500-73-87

+7 (495) 753-86-39

presscentr@aeroflot.ru

 
 

 

 
 

 

 
 

 

 

 

About Aeroflot

Aeroflot is Russia’s flagship carrier and one of the largest airline groups in Europe. In 2014 Aeroflot carried 23.6 million passengers (34.7 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 major airlines, numbering 150 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 .