Cimber Sterling revenue up 18%, losses widen in 3QFY2011

Cimber Sterling revenue up 18% - financial highlights for the three months ended 31-Dec-2010:

• Revenue*: EUR53.0 million, +18% year-on-year;
• Operating costs: EUR38.7 million, +29%;
  • Fuel: +41%;
• Operating profit (loss): (EUR19.7 million), compared with a loss of EUR14.7 million in p-c-p;
• Profit (loss) before tax: (EUR21.1 million), compared with a loss of EUR16.8 million in p-c-p;
• Net profit (loss): (EUR15.8 million), compared with a loss of EUR12.8 million in p-c-p;
• Passenger numbers: 426,000, +21.0%;
• Load factor: 61%, +5 ppts;
• Yield: EUR 16.22 cents, +27.4%;
• Revenue per ASK: EUR 9.65 cents, +35.8%;
• Cost per ASK: EUR 12.20 cents, +23.0%;
• Total assets: EUR135.6 million, -7.0%;
• Cash and cash equivalents/securities: EUR603,313, -93.9%;
• Total liabilities: EUR127.9 million, +18.2%. [more]

*Based on the conversion rate EUR1 = DKK7.45881

Cimber Sterling: "Based on the performance of the first three quarters of the year, including the surge in fuel costs, Cimber Sterling is unable to retain its previous guidance for the full year 2010/11 of an operating profit before special items in the region of DKK20-80 million. The revenue forecast is retained, but the forecast of the loss for the year is increased to the range of DKK125-145 million," Company statement. Source: Cimber Sterling, 16-Mar-2011.