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AerCap Holdings revenue up 102%, profits down in 2Q2010

6-Aug-2010 12:19 PM

AerCap Holdings revenue up 102% - financial highlights:

  • Three months ended 30-Jun-2010:
    • Revenue: USD594.7 million, +102% year-on-year;
      • Sales revenue: USD328.1 million, +178%;
      • Lease revenue: USD260.7 million, +54%;
    • Net profit: USD48.9 million, -14%;
  • Six months ended 30-Jun-2010:
    • Revenue: USD958.7 million, +91%;
      • Sales revenue: USD510.6 million, +220%;
      • Lease revenue: USD436.0 million, +32%;
    • Net profit: USD83.3 million, -4%;
    • Total cash: USD506.7 million, +46%;
    • Total assets: USD9,098 million, +48%;
    • Total liabilities: USD7,177 million, +48%. [more]

AerCap Holdings: “AerCap has continued to deliver asset, revenue and net margin growth quarter after quarter while maintaining earnings per share that are consistently at the top end of the range among our listed competitors. AerCap’s solid liquidity is reflected in our total cash position, which now exceeds USD500 million and represents one third of our current market capitalization,” Klaus Heinemann, CEO. Source: AerCap, 05-Aug-2010.

AerCap Holdings: “We are pleased with our second quarter results which include a full quarter's financial impact of the Genesis Transaction, which is performing according to our expectations. The 48% year-on-year increase in total assets as well as the 50% increase in net spread highlight the profitability of our growing and diverse lease portfolio. In addition, our committed capital expenditures are essentially fully funded and we have secured USD835 million of new debt facilities year-to-date 2010 which demonstrates AerCap’s ability to tap global financing markets throughout varying market conditions,” Keith Helming, CFO. Source: AerCap, 05-Aug-2010.