Transaero Airlines announces IFRS results for 2013

Transaero Airlines has announced its financial results under International Financial Reporting Standards for 2013. The results show strong and sustainable growth in key performance indicators and the airline’s stable financial position.

Transaero Airlines’ financial results under IFRS demonstrate the following positive trends in the carrier’s development:

– Revenue growth rate exceeds that of passenger turnover:

In 2013, Transaero Airlines’ revenue from air operations and other services amounted to 105,901 million rubles, a 15.3% increase over 2012. The company’s passenger turnover was 47,019 million RPK, a 14.7% growth over the previous year.

– Increasing efficiency of the airline’s activities including:

o Growth of operating profit and net profit

· In 2013 the airline’s operating profit was 10,567 million rubles, a 31.2% growth over 2012

· Profit before tax increased 5.2 times and was recorded to be 1,435 million rubles

· The airline’s net profit amounted to 788 million rubles against losses in 2012

o Growth of EBITDA, EBITDAR profitability ratios

· EBITDA amounted to 15.1 billion rubles, while EBITDA margin grew 1.3 percentage points to 14.3%

· EBITDAR increased to 18.5 billion rubles, while EBITDAR margin grew 1.4 percentage points to 17.4%

o Debt structure improvement

· The proportion of long-term and short-term credits and loans has significantly improved. The amount of long-term loans in 2013 surpassed that of short-term loans, reaching 51% of the overall loan volume, while in 2012 long-term loans made up 37% of total loan amount

These financial results have been achieved on the background of the airline’s operational results in 2013 which are as follows:

· Transaero Airlines’ passenger turnover reached 47,018,186,000 RPK, a 14.7% increase over 2012

· The number of passengers carried increased to 12,499,985, a 21% growth over 2012

· The airline carried 69,735.77 tonnes of cargo, a 5.9% increase over 2012

· Tonne-kilometers amounted to 4,624,630,000, a 13.6% growth over 2012

Olga Pleshakova, CEO Transaero Airlines, said: “Our company results under IFRS and RAS prove the solid financial state of the airline and that its development remains sustainable. In 2013, we continued to improve product quality by operating a broad route network, undertaking fleet modernization and implementing new unique technologies. Our new approach to the airline’s business development strategy is in line with our mission statement “Rational growth, efficiency and strategic focus” and aims to further increase financial efficiency. This strategy will continue to remain a priority for the airline.”

Transaero Airlines

Source / Author: Transaero Airlines

Autor: Redakcja Świat

Redakcja Świat