Joint Stock Company Sheremetyevo International Airport (JSC SIA) and its subsidiaries (the “Group”) published audited consolidated financial statements for the year ended December 31, 2017 in accordance with International Financial Reporting Standards, approved by the Board of Directors of JSC SIA.
Revenue increased by 24.95% compared to the same period last year and amounted to 45,218 million rubles;
Operating profit increased by 43.26% compared to the same period last year and amounted to 17,378 million rubles.
JSC SIA key operating highlights
|
(thousand)
|
2017
|
2016
|
Change
|
|
Passenger traffic
|
40 093
|
34 030
|
17,8%
|
|
international flights
|
22 124
|
18 863
|
17,3%
|
|
domestic flights
|
17 969
|
15 167
|
18,5%
|
JSC SIA key financial highlights
|
(RUB million)
|
2017
|
2016
|
Change
|
|
Revenue
|
45 218
|
36 188
|
24,95%
|
|
Operating expenses
|
27 840
|
24 058
|
15,72%
|
|
Operating profit
|
17 378
|
12 130
|
43,26%
|
|
Net profit
|
11 896
|
11 148
|
6,7%
|
Deputy General Director of JSC Sheremetyevo International Airport for economics and finance Alexander Oleynik said: “The rise in revenue and operating expenses of Sheremetyevo is primarily due to the growth of passenger traffic. Sheremetyevo is implementing the Long-Term Airport Development Program (until 2026) and served more than 40 million passengers in 2017.
Our efforts in the field of improving the quality of management, optimization of business processes and introduction of advanced handling technologies have led to a significant increase in operating profit.
In general, as per our plan for 2017, positive changes in all key financial indexes of the airport’s activities can be stated”.
In 2017, revenue increased up to 45.2 billion rubles. It is 24.95% more than in last year. This was due to the growth of passenger traffic and correction of tariffs by inflation rise.
Operating expenditures rose by 15.7% to 27.8 billion rubles. This was due to the growth of passenger and freight traffic.
Insignificant growth of net profit was caused by revaluation in 2016 of shares of the subsidiaries had been bought before.
Total debt fell 13.8% in 2017 to 41 billion rubles as of December 31. The reduction was due to repayment of loans and borrowings both as they came due and ahead of schedule, as well as to revaluation of liabilities due to changes in the RUB-USD exchange rate as of 31 December 2017 compared to 31 December 2016.