Aeroflot’s revenues during the first half of 2011 were 58 billion rubles, thus the airline’s revenues have increased by 9,76 billion rubles (20,2%) as compared to the same period in 2010, the airline’s press-service reports.
The increase of the revenues is caused by the growth of demand on the air transportation.
The rates of revenues increase (+ 20,2%) following the results of the first six months of 2011 are almost the same as the rates of passenger traffic increase (+20,6%).
The net cost of goods, production, work and services sold in the first half of 2011 was 51,17 billion rubles (it has increased by 10,07 billion rubles (+24,5%). The increase of the net cost is generally caused by the growth of aviation kerosene prices (+27,6% in ruble equivalent) as compared to 2010.
The gross margin was 6,84 billion rubles, the profit before tax was 8,59 billion rubles (+71,5%), and then net profit was 6,89 billion, thus it has increased by 2,79 billion rubles (+67,7%). The main reasons The main reasons for this increase were the increase of scopes of work and the selling of shares in subsidiaries: Moscow Insurance Company (100% of registered capital), Sheremetyevo refueling enterprise (31% of registered capital), Date (50% of registered capital) and Nordavia (100% of registered capital).
The total assets of Aeroflot have increased to 91,19 billion rubles during the first half of 2011, which is greater by 18,44 billion rubles (+25,4%) as compared to the similar indicator in the beginning of 2011.
The main reason for increase of assets was the increase of pre-delivery payments to the leasing companies and increase of agents’ current debt due to increase of sales.
The company’s long-term obligations have slightly increased as compared to the beginning of 2011 due to change of deferred tax liabilities to 12,41 billion rubles and they are mainly formed by two loans taken in 2010 with the total amount of 12 billion rubles issued for three years.