Aeroflot returns to profit in 2016 under RAS

Aeroflot reported (06-Feb-2017) the following non-consolidated financial highlights for the year ending 31-Dec-2016, in accordance with Russian Accounting Standards (RAS):

• Revenue: RUB427,901 million (EUR5807.0 million), up 16.8% year-on-year;
• Cost of sales: RUB371,563 (EUR5042.5 million), +17.5%;
• Gross profit: RUB56,338 million (EUR764.6 million), +12.8%;
• Net profit: RUB30,617 (EUR415.5 million), up from a loss in 2015;
• Basic earnings per share: RUB27.57 (EUR.37).

Aeroflot deputy CEO for commerce and finance Shamil Kurmashov said: "The strong financial results were primarily driven by our excellent operational performance, with passenger numbers and the load factor both increasing year-on-year." Mr Kurmashov also attributed the results to effective capacity and fleet management, FX rates on the return of deposits paid for aircraft deliveries, and other one-offs, combined with strict cost controls. [more - original PR - English/Russian]

*Based on the average conversion rate at RUB1 = EUR0.013571