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Cimber Sterling revenue up 29% for three months ended 31-Oct-2010

15-Dec-2010 12:51 PM

Cimber Sterling revenue up 29% - financial highlights:

  • Three months ended 31-Oct-2010:
    • Revenue*: EUR73.4 million, +29% year-on-year;
    • Operating costs: EUR46.3 million, +26%;
    • Fuel: EUR24.1 million, +77.8%;
    • Labour costs: EUR15.0 million, +1.3%;
    • Operating profit (loss): (EUR295,169), compared to a loss of EUR5.6 million in p-c-p;
    • Profit (loss) before tax: (EUR134,168), compared to a loss of EUR5.0 million in p-c-p;
    • Net profit (loss): (EUR93,917), compared with a loss of EUR3.9 million in p-c-p;
    • Passenger numbers: 589,000, +29.5%;
    • Load factor: 66%, -2 ppts;
    • Yield: EUR 12.48 cents, +9.4%;
    • Revenue per ASK: EUR 8.05 cents, +7.1%;
    • Cost per ASK: EUR 8.32 cents, -4.6%;
    • Cost per ASK excl fuel: EUR 6.98 cents, -10.3%;
    • Operating cash (out)flow: (EUR7.4 million), compared to a positive cash flow of EUR966,007 in p-c-p;
  • Six months ended 31-Oct-2010:
    • Revenue: EUR143.9 million, +28.1%;
    • Operating costs: EUR92.4 million, +34.4%;
    • Labour costs: EUR29.4 million, -1.7%;
    • Operating profit (loss): (EUR1.6 million), compared with a loss of EUR9.0 million in p-c-p;
    • Profit (loss) before tax: (EUR2.0 million), compared to a loss of EUR7.1 million in p-c-p;
    • Net profit (loss): (EUR1.5 million), compared with a loss of EUR5.5 million in p-c-p;
    • Passenger numbers: 887,174, +31%;
    • Load factor: 67%, -2 ppts;
    • Yield: EUR 11.94 cents, +5%;
    • Revenue per ASK: EUR 7.78 cents, +2%;
    • Cost per ASK: EUR 8.18 cents, -7%;
    • Cost per ASK excl fuel: EUR 6.71 cents, -15%;
    • Total assets: EUR139.3 million, -0.9%;
    • Cash and cash equivalents/securities: EUR590,338, +238%;
    • Total liabilities: EUR115.7 million, -7.7%;
  • FY2011 forecast:
    • Passenger numbers: +31%;
    • Load factor: 67%;
    • Average yield: EUR12.34 cents. [more]

* Based on the conversion rate at EUR1 = DKK7.45336

Cimber Sterling: “Market developments in 2Q2010/11 were as expected. Cimber Sterling reiterates its earlier forecast for FY2010/11 of revenue of approximately DKK2 billion and an EBIT loss in the range of DKK20-80 million before special items,” Company statement. Source: Cimber Sterling, 14-Dec-2010.