Aeroflot Group returns to profit in 2016; outlook for 2017 optimistic

Aeroflot Group reported (02-Mar-2017) the following financial highlights in the year ended 31-Dec-2016, in accordance with International Financial Reporting Standards (IFRS):

• Revenue: RUB495,880 million (EUR6729.6), +19.4% year-on-year;
• • Passenger: RUB421,377 million (EUR5718.5), +20.5%;
  • Cargo: RUB12,589 million (EUR170.8 million), +30.7%;
• Operating costs: RUB432,626 million (EUR5871.2 million), +16.6%;
• • Aircraft fuel: RUB101,582 million (EUR1378.6 million), +7.6%;
  • Aircraft servicing and passenger services: RUB87,227 million (EUR1183.8 million), +16.0%;
  • Staff: RUB64,682 million (EUR877.8 million), +16.3%;
• Operating profit: RUB63,254 million (EUR858.4 million), +43.4%;
• Net profit: RUB38,826 million (EUR526.9 million), up from a loss of RUB6494 million (EUR96.8 million) in 2015;
• Total assets: RUB299,307 million (EUR4061.9 million);
• Cash and cash equivalents: RUB31,476 million (EUR427.2 million);
• Total liabilities: RUB258,538 million (EUR3508.6 million).

Aeroflot deputy CEO for commerce and finance Shamil Kurmashov said: "Accelerated growth of our operating indicators in the fourth quarter of 2016 together with emerging macroeconomic improvements allow us to have an optimistic outlook for 2017 and the Group's development prospects".

*Based on the average conversion rate at RUB1 = EUR0.013571 for 2016
*Based on the average conversion rate at RUB1 = EUR0.0149 for 2015 [more - original PR - English/Russian]