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MAp revenue up 5.4%, EBITDA up 15% in 1H2010

25-Aug-2010 1:54 PM

Australia’s MAp revenue up 5.4% - financial highlights for the six months ended 30-Jun-2010:

  • Revenue*: USD425.9 million, +5.4% year-on-year;
  • Operating costs: USD432.2 million, -11.9%;
  • EBITDA: USD340.1 million, +15.0%;
  • Profit (loss) before tax: (EUR40.6 million), compared with a loss of EUR331.9 million in p-c-p;
  • Net profit (loss): USD17.4 million, compared with a loss of USD265.2 million in p-c-p;
  • Net operating cash flow: USD375.7 million, +13.5%;
  • Total assets: USD12,962 million, -1.7% when compared with period ended 31-Dec-2009;
  • Cash and cash equivalents: USD1,018 million, -21.3% when compared with period ended 31-Dec-2009;
  • Total liabilities: USD7,865 million, +0.3% when compared with period ended 31-Dec-2009. [more]

*Based on the conversion rate at USD1 = AUD1.12917

MAp: “The boards and management believe that MAp is well positioned to continue to benefit from the key structural changes in the aviation industry such as the introduction of new aircraft technology, the growth of both low-cost carriers and global airline alliances and the continuing liberalisation of air rights. In addition, the near-term traffic outlook is strong. MAp’s active management model will continue to deliver a combination of aeronautical and commercial initiatives, together with an ongoing focus on costs. This will result in continued operational leverage and economies of scale,” Company statement. Source: MAp, 25-Aug-2010.