Following the results of the first quarter of 2011, Aeroflot’s net profit has increased 4.1 times as compared to the first quarter of 2010 (1Q2011). AEX.ru
Aeroflot’s revenues were $915 mln (25,628 billion rubles) in 1Q2011 which is greater than the same figure in 2010 by $167 mln (4,685 billion roubles) or 22,4%.
The main reasons for this result are improvement of route network management, measures for increasing the fleet usage efficiency and maintaining the high level of in-flight service.
The cost value of sold goods, production, work and services was $887 mln (24,845 billion rubles) in 1Q2011 (+30% as compared to the 1Q2010). The increase of cost value is substantiated by the increase of amount of works and jet fuel price increase as compared to 1Q2010.
The amount of gross margin was $28 mln (783,2 million rubles), EBT was $96 mln (2,676 billion rubles) and the net profit was $75 mln (2,087 billion rubles), which is greater by $56.57 mln (1,584 billion roubles) (+314%) than the same indicator in the 1Q2010. The main reasons of such growth are increase of amount of work and sell of company’s shares in the subsidiaries and affiliates: «IC Moscow» (100% of authorized capital), «TZK Sheremetyevo» (31% of authorized capital) and «Deyt» (50% of authorized capital).
The company’s long-term obligations have slightly to $442 mln (12,37 billion rubles) increased as compared to the beginning of 2011.
