31-Aug-2016 9:48 AM
UTair Aviation incurs net loss in 1H2016; revenue up 17%
UTair Aviation reported (29-Aug-2016) the following financial highlights in the six months ended Jun-2016, according to International Financial Reporting Standards (IFRS):
- Revenue: RUB33,223.6 million (EUR426.7 million), +16.7% year-on-year;
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- Scheduled air services: RUB17,571.3 million (EUR225.7 million), +27.8%;
- Charter air services: RUB5268.3 (EUR67.7 million), +7.6%;
- UN agreements: RUB4536.8 million (EUR56.6 million), -7.2%;
- Helicopter maintenance services in Russia: RUB4039.8 million (EUR51.9 million), +10.1%;
- Helicopter maintenance services abroad: RUB1278.5 million (EUR16.4 million), +12.5%;
- Maintenance and repair of aviation equipment: RUB362.1 million (EUR4.7 million), +34.2%;
- Airport services: RUB167.0 million (EUR2.1 million), +70.4%;
- Other: RUB481.9 million (EUR6.2 million), -60.2%;
- Operational profit: RUB1702.1 million (EUR21.9 million), -43.7%;
- Net profit (loss): (RUB685.0 million) (EUR8.8 million), compared to a loss of RUB1772.6 million (EUR27.8 million) in 1H2015;
- Total assets: RUB94,802.5 million (EUR1217.5 million);
- Cash and cash equivalents: RUB2623 million (EUR33.7 million);
- Total liabilities: RUB106,601.5 million (EUR1369.0 million).
UTair Aviation plans to complete the restructure of its leasing portfolio in 2016 and improve performance indicators using positive cashflow. [more - original PR - Russian]
*Based on the average conversion rate at RUB1 = EUR0.012842 for 1H2016
*Based on the average conversion rate at RUB1 = EUR0.015690 for 1H2015