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23-Dec-2009 1:34 PM

Cimber Sterling 1HFY2010 revenue up 20%, losses widen

Cimber Sterling revenue up 20% - financial highlights:

Three months ended 31-Oct-2009:

  • Revenue: EUR56.9 million, +20.0% year-on-year;
  • EBITDAR: EUR1.8 million, -77.4%;
  • Operating profit (loss): (EUR5.6 million), compared to a profit of EUR3.3 million in the previous corresponding period;
  • Net profit (loss): (EUR3.9 million), compared to a loss of EUR3.4 million in the previous corresponding period;
  • Passenger numbers: 648,970, +32.5%;
  • Load factor: 68.8%, -3.9 ppts;
  • Yield: EUR 11.42 cents, -46.9%;
  • Cost per ASK: EUR 8.9 cents, -35.9%;

Six months ended 31-Oct-2009:

  • Revenue: EUR112.5 million, +26.7%;
  • EBITDAR: EUR6.6 million, -43.5%;
  • Operating profit (loss): (EUR9.0 million), compared to a profit of EUR1.9 million in the previous corresponding period;
  • Net profit (loss): (EUR5.5 million), compared to a loss of EUR5.2 million in the previous corresponding period;
  • Passenger numbers: 1.3 million, +33.2%;
  • Load factor: 69.5%, +3.6 ppts;
  • Yield: EUR 11.42 cents, -25.4%;
  • Cost per ASK: EUR 8.7 cents, -36.9%. [more]
  • *Based on the conversion rate at EUR1 = DKK7.44

Cimber Sterling: “The lower revenue forecast has a negative impact on the projected earnings for the current financial year. As a result, the company now expects 2009/10 EBITDAR of DKK140–165 million, down from the previous forecast of DKK175–200 million, and an EBIT loss at the level of DKK60 million, compared with the previous forecast of a loss in the DKK10–40 million range before costs related to the IPO and the issue of employee shares planned for Jan-2010,” Company statement. Source: Cimber Sterling, 17-Dec-2009.

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