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65% rise in net profit of Aeroflot Group in 9M’2010 against 9M’2009 (IFRS)

Direct News Source

06-Dec-2010 The net profit of the Aeroflot Group in 9 months 2010 equaled USD281mln that is 65% higher than over the same period last year (IFRS).

A considerable rise in operational parameters on air transportation in 9 months 2010 (+30.4% passenger traffic and + 34.1% passenger turnover) prompts rising revenues. In 9 months 2010 the revenue of the Group went up by 28% and totaled USD3.16bln. Revenue growth outpaced growing costs. Operational costs uplifted by 26% to USD2.719bln.

The EBITDA parameter with the Group increased by 43% compared to the same period of 2009 and came to USD614mln.

EBITDA profitability (EBITDA / Operational Income ratio) rose to 19% in comparison with 17% in 2009.

The Net Debt/EBITDA ratio in 9 months 2010 decreased to 2.3 in relation to the beginning of the year when the parameter was 3.9.

The overall debt of the Group increased by 12% against early 2010 and totaled USD2.136bln mainly due to the bond loan (RUR12 bln).

The net debt of the Group in 9 months 2010 went down by 16% against early 2010 and equaled USD1.490bln through rising funds and short-term investments by 389% to USD645mln. Funds rose due to the operational activity and a bond loan raised.

According to the CEO of Aeroflot Vitaly Saveliev, 'financial results in 9 months 2010 justify actions of the management of the company aimed at productivity rise.'