8-Feb-2013 4:15 PM

Icelandair Group operating loss narrows in 4Q2012, forecasts up to USD120m EBITDA in 2013

Icelandair Group revenue up 16% – financial highlights:

  • Three months ended 31-Dec-2012:
    • Total revenue: USD189.4 million, +16.0% year-on-year;
    • Costs: USD183.5 million, +12%;
      • Labour: USD53.4 million, +9%;
      • Fuel: USD49.5 million, +26%;
    • Operating profit (loss): (USD8.2 million), compared to a loss of USD12.5 million in p-c-p;
    • Net profit (loss): (USD8.2 million), compared to a loss of USD1.6 million in p-c-p;
    • Passenger numbers:
      • International: 422,500, +21%;
      • Regional and Greenland: 76,700, -4%;
    • Load factor:
      • International: 76.7%, -1.2 ppt;
      • Regional and Greenland: 72.1%, +6.4 ppts;
  • 12 months ended 31-Dec-2012:
    • Total revenue: USD898.9 million, +13.7%;
    • Operating profit: USD50.8 million, +31.5%;
    • Net profit: USD44.3 million, +21.9%;
    • Passenger numbers:
      • International: 2.0 million, +16%;
      • Regional and Greenland: 342,800, -1%;
    • Load factor:
      • International: 80.6%, +1.4 ppt;
      • Regional and Greenland: 69.2%, +0.7 ppt;
    • Total assets: USD762.9 million, +4.5%;
    • Cash and marketable securities: USD132.8 million, +24%;
  • 2013 forecast:
    • EBITDA: USD115 million to USD120 million;
    • International passenger numbers: 2.3 million. [more - original PR]

Icelandair Group: “The prospects for Icelandair Group’s operations are good. Continued organic growth is projected in 2013, with a 15% larger international flight schedule than in 2012. The growth is projected to be proportionally greater over the winter months than in the summer, which is in line with the Company’s strategy of levelling seasonal fluctuations and developing Iceland as a year-round destination. The booking status for the coming months is in line with the growth plan. It is projected that the greatest increase in the number of passengers flying with the Company will be on the route across the North Atlantic, but the number of passengers to Iceland is expected to grow as well.” Source: Company statement, 07-Feb-2013.

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