The financial statements of JSC SIA for the first quarter of 2019 prepared in accordance with the Russian Accounting Standards (RAS) were approved at the regular meeting of the Board of Directors of Sheremetyevo International Airport JSC (JSC SIA) on May 29, 2019.
As of the end of the first quarter of 2019, the airport revenue was 8,580 million rubles, an increase by 35.1% compared to the same period of 2018, including a 41.3% increase in aviation activities and a 27.4% increase in non-aviation activities In the first quarter of 2019, the cost of goods sold grew by 22.3% to 3,152 million rubles.
The gross profit of JSC SIA in the first quarter of 2019 was 5,428 million rubles, surpassing the first quarter of 2018 by 43.9%. The net profit of the company as of the end of the first quarter of 2019 was 4,849 million rubles, an increase by 136.4%.
Key RAS Indicators
Revenue
Q1 20186,352 million rubles
Q1 20198,580 million rubles
Change 35.1%
Cost of goods sold
Q1 20182,578 million rubles
Q1 20193,152 million rubles
Change 22.3%
Gross Profit
Q1 20183,773 million rubles
Q1 20195,428 million rubles
Change 43.9%
Net Profit
Q1 2018 2,051 million rubles
Q1 2019 4,849 million rubles
Change 136.4%
The Board of Directors reviewed and approved the results of a simulation of the passenger turnover and fuel efficiency when a new airspace structure is introduced in the Moscow Zonal Сenter of the Unified Air Traffic Management System (MZC UATMS) for the Sheremetyevo airport.
The Sheremetyevo airport is the largest Russian airport in the passenger and cargo traffic volume and the number of takeoff and landing operations. The transition to the new airspace structure in the Moscow Zone of the UATMS will enable increasing the airport passenger turnover from 65 to 110 takeoff and landing operations (TLO) per hour, improving the airline fuel efficiency by 4% to 7% on average, and raising the aircraft landing punctuality from 40% to 90%.
The new airspace structure will have the following effects on the Sheremetyevo airport operations:
- an increase in the Sheremetyevo airport design passenger turnover to 110 TLO per hour (when using a complex of three paved runways)
- an increase in the Sheremetyevo airport design passenger turnover to 90 TLO per hour (when using a two-paved runway complex, with separate operations on Runway 2 and Runway 3)
- an average increase in the airline fuel efficiency of 4% to 7%
- an increase in the aircraft landing punctuality from 40% to 90%
- a reduction in flight delays by 4 times
- a reduction in the flight crews and aircraft flying hours by 7%
- a reduction in flight distances by 10%
The Sheremetyevo airport in association with the Moscow ATC Centre of the State ATM Corporation have developed the most effective scenarios for using the airport complex and passenger turnover increase. The scenarios factor in the strategic plans of airlines based at the airport and partner airlines to raise passenger and cargo traffic.
When the new airspace structure is implemented, Sheremetyevo will join the league of international airports with the highest passenger turnover. Using the complex of three paved runways will raise the number of TLOs by 70%, from 65 to 110 per hour. The fuel efficiency increase will allow the airlines to save billions of rubles every year and channel these funds into improving passenger services and comfort. The airlines will be able to choose more comfortable slots and develop their route networks from the Sheremetyevo airport.
According to the Long-Term Airport Development Program (until 2026), the airport plans to become one of the 10 largest hubs in the world, with the terminal and airfield capacities to provide high-quality and reliable services to more than 100 million passengers and handle more than 1 million tonnes of cargo. The new airspace structure in the Moscow Zone of the UATMS will facilitate the implementation of the airport plans and provide broad opportunities for airline development in the largest airport hub in our country and Eastern Europe.
