Loading
14-Aug-2012 3:11 PM

GOL operating loss widens in 2Q2012, forecasts negative operating margin in FY2012

GOL revenue up 17% – financial highlights**:

  • Three months ended 30-Jun-2012:
    • Revenue: BRL1831 million (USD1048 million), +16.9% year-on-year;
      • Passenger: BRL1602 million (USD917.0 million), +6.2%;
      • Ancillary: BRL228.7 million (USD130.9 million), +21.8%;
    • Operating costs: BRL2185 million (USD1251 million), +19.0%;
      • Fuel: BRL920.2 million (USD526.7 million), +25.9%;
      • Labour: BRL399.3 million (USD228.6 million), +3.6%;
    • Operating profit (loss): (BRL354.6 million) (USD203.0 million), compared to a loss of BRL270.8 million (USD160.7 million) in p-c-p;
    • Net profit (loss): (BRL715.1 million) (USD409.3 million), compared to a loss of BRL358.7 million (USD205.3 million) in p-c-p;
    • Yield: BRL 18.43 cents (USD 10.55 cents), +0.8%;
    • Passenger revenue per ASK: BRL 12.81 cents (USD 7.33 cents), +5.7%;
    • Revenue per ASK: BRL 14.64 cents (USD 8.38 cents), +6.3%;
    • Costs per ASK: BRL 17.48 cents (USD 10.01 cents), +8.2%;
    • Cost per ASK excl fuel: BRL 10.12 cents (USD 5.79 cents), +4.0%;
  • Six months ended 30-Jun-2012:
    • Revenue: BRL3997 million (USD2288 million), +15.4%;
      • Passenger: BRL3526 million (USd2018 million), +14.4%;
      • Ancillary: BRL470.5 million (USD269.3 million), +23.9%;
    • Operating costs: BRL4344 million (USD2487 million), +20.7%;
      • Fuel: BRL1872 million (USD1071 million), +33.7%;
      • Labour: BRL806.6 million (USD461.7 million), +8.3%;
    • Operating profit (loss): (BRL347.4 million) (USD198.8 million), compared to a loss of BRL135.5 million (USD77.6 million) in p-c-p;
    • Net profit (loss): (BRL756.5 million) (USD433.0 million), compared to a loss of BRL289.3 million (USD165.6 million) in p-c-p;
    • Yield: BRL 19.38 cents (USD 11.09 cents), +1.6%;
    • Passenger revenue per ASK: BRL 13.31 cents (USD 7.62 cents), +1.6%;
    • Revenue per ASK: BRL 15.08 cents (USD 8.63 cents), +2.5%;
    • Costs per ASK: BRL 16.40 cents (USD 9.39 cents), +7.2%;
    • Cost per ASK excl fuel: BRL 9.33 cents (USD 5.34 cents), -0.1%;
    • Total assets: BRL10,454 million (USD5984 million), +13.7% when compared to period ended 31-Dec-2011;
    • Cash and cash equivalents: BRL983.3 million (USD562.8 million), -40.2% when compared to period ended 31-Dec-2011;
    • Total liabilities: BRL8986 million (USD5144 million), +36.3% when compared to period ended 31-Dec-2011;
  • 2012 forecast:
    • Brazil GDP growth: +1.5% to +2.5%;
    • Domestic demand (RPK): +6.0% to +9.0%;
    • Domestic load factor: 71% to 75%;
    • Passenger numbers: 41 million to 42 million;
    • GOL domestic capacity (ASK): 48 billion to 49 billion;
    • Passenger traffic (RPK): 37 billion to 39 billion;
    • Departures: 354,000 to 364,000;
    • Cost per ASK excl fuel: BRL 9.0 cents (USD 5.15 cents) to BRL 9.6 cents (USD 5.50 cents);
    • Fuel litres consumed: 1.6 billion to 1.75 billion;
    • Operating margin: Will be negative. [more – original PR]

*Based on the average conversion rate at USD1 = BRL1.7470 for the period
**2Q2012 and 1H2012 excludes Webjet

Want More News Like This?

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