Air Berlin PLC realises total revenue of EUR 751.6 million in the first quarter of 2011
11-May-2011 Air Berlin PLC group´s revenue increased by 8.8 per cent to EUR 751.6 million in the first quarter of 2011 as compared to EUR 690.9 million in the previous year´s first quarter (Q1 2010 pro forma*: EUR 736.6 million).
Nevertheless, political upheaval in North Africa and the timing of the important Easter tourism business (which fell in the second quarter this year) lead to a decrease in revenues in the first quarter. Furthermore, rising oil prices lead to higher expenses so that operating expenses increased by 18.6 per cent from EUR 793.6 million to EUR 941.6 million (Q1 2010 pro forma*: EUR 846.9 million).
Due to the decrease in revenues and the additional expenses caused by rising oil prices, EBITDAR decreased from EUR 44.1 million to EUR -25.7 million in the first quarter of 2011 (Q1 2010 pro forma*: EUR 40.2 million).
Operating result (EBIT) decreased from EUR -98.6 million (Q1 2010 pro forma*: EUR 106.5 million) to EUR -188.3 million. The financial result increased from EUR -32.9 million (Q1 2010 pro forma*: EUR -33.9 million) to EUR 14.6 million.
Pre-tax earnings in the first quarter of 2011 amounted to EUR -173.7 million, compared with EUR -128.3 million in the first quarter of 2010 (Q1 2010 pro forma*: EUR -137.1 million). After a tax benefit amounting to EUR 53.1 million (Q1 2010: EUR 34.7 million), net result for the first quarter of 2011 amounts to EUR -120.6 million, as compared to EUR -93.6 million in the first quarter of 2010 (Q1 2010 pro forma*: EUR -102.4 million). Earnings per share based on the average number of 85.049 million shares outstanding in the first quarter of 2011 (Q1 2010: 85.049 million shares) thus amounted to EUR -1.41, compared with EUR -1.10 in the previous year (both basic and diluted).
As of 31 March 2011, Air Berlin PLC´s total assets amounted to EUR 2,592 million (2010: EUR 2,550 million), its total equity amounted to EUR 376.7 million (2010: EUR 538.2 million), and its net debt amounted to EUR 531.2 million (2010: EUR 600.1 million).
On 18 May 2011, Air Berlin will publish detailed information on the 3-month results as well as the complete interim report as of 31 March 2011. This information will be available on the Internet at ir.airberlin.com starting at 7:30 am (CEST).
*pro forma: Q1 2010 consolidated financial statements of Air Berlin PLC, including the Q1 2010 adjusted figures for Niki Luftfahrt GmbH, which has been consolidated in Air Berlin PLC´s consolidated financial statements with effect as of 1 July 2010.