Loading
7-Jul-2010 1:43 PM

Cimber Sterling revenue up 19.5% in FY2010, expects losses in FY2011 to contract further

Cimber Sterling revenue up 19.5% - financial/traffic highlights for the 12 months ended 30-Apr-2010:

  • Revenue*: EUR208.1 million, +19.5% year-on-year;
  • Operating costs: EUR133.5 million, +47.7%;
  • Labour: EUR59.4 million, +10.2%;
  • Operating profit (loss): (EUR39.5 million), compared with a loss of EUR230,617 in p-c-p;
  • Net profit (loss): (EUR30.7 million), compared with a loss of EUR7.9 million in p-c-p;
  • Passenger numbers: 2.3 million, +26%;
  • Load factor: 66%, +4 ppts;
  • Yield: EUR 11.94 cents, -53%;
  • Revenue per ASK: EUR 7.51 cents, -35%;
  • Costs per ASK: EUR 9.39 cents, -22%;
  • FY2011 forecast:
    • Revenue: EUR268.3 million, +29%;
    • Operating profit (loss): (EUR2.7 million) to (EUR10.7 million);
    • Load factor: 70%;
    • Average yield: EUR 11.27 cents. [more]

*Based on the conversion rate at EUR1 = DKK7.45391

Cimber Sterling: "The growth in passenger numbers is expected to continue in 2010/11, which was confirmed by developments of the first few months of the financial year, and the higher capacity utilisation, the efficiency improvements and the increased cost awareness will allow for a potential major increase in operating profitability. On the other hand, an appreciation of the USD and the higher fuel price may have a particularly adverse impact on our results of operations," Company statement. Source: Cimber Sterling, 06-Jul-2010.

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More