Aeroflot RAS net profit for 9M 2016 increases sixfold to RUB 42.8 billion

aeroflot press-release

PJSC Aeroflot (Moscow Exchange ticker: AFLT) today published its financial results for the first nine months of 2016 in accordance with Russian Accounting Standards (RAS). RAS results are presented on a non-consolidated basis.

Key results for 9M 2016:

  • Revenue was RUB 328,366 million, an increase of 20.2% on the same period of the previous year, and was driven by growth of operational indicators, in particular growth of PJSC Aeroflot’s passenger numbers for 9M 2016 of 10.4%, as well as a significant currency effect on FX-denominated revenues of PJSC Aeroflot;
  • Cost of sales was RUB 276,059 million, an increase of 18.2% on the same period of the previous year, and was driven by the increased scale of the company’s operations, fleet expansion, as well as currency effects on FX-denominated expenses in 1H 2016 that subsequently slowed down in 3Q 2016;
  • Gross profit increased 32.2% year-on-year to RUB 52,307 million, reflecting the fact that revenue grew faster than expenses as a result of effective cost management against increasing passenger volumes, taking into account the factors listed above;
  • Net profit was RUB 42,850 million, nearly six times higher than the result for 9M 2015, primarily as a result of improving operational results, additional income, FX and other effects;
  • Basic earnings per share in 9M 2016 were RUB 38.58, compared to RUB 6.44 for 9M 2015

PJSC Aeroflot’s passenger numbers increased by 10.4% year-on-year to 21.7 million PAX. Revenue passenger kilometres (RPKs) increased by 11.0% year-on-year to 61,991 million. The load factor increased by 1.8 p.p. to 82.0%.

Russian Aviation Insider
Powered by Air Transport Observer, Russia & CIS’ premier information provider on commercial aviation with a 20-year legacy, Russian Aviation Insider provides you with timely and reliable business news, insights and analysis on commercial aviation all around CIS.
Sign up for our free Newsletter and never miss:
  • Airline Business news and analysis
  • Aerospace Industry updates
  • Traffic statistic data and trends
  • Airport, MRO, Leasing and other related businesses
  • Appointments and promotions

Get relevant data from reliable industry sources!

Leave a comment