Grupo Aeromexico: Fourth quarter 2017 revenue up 12.1%
Grupo Aeromexico S.A.B. de C.V. today reported its unaudited consolidated results for the fourth quarter 2017 (4Q17).
KEY FINANCIAL HIGHLIGHTS FOR THE FOURTH QUARTER 2017
• Grupo Aeromexico’s fourth quarter 2017 revenue reached $16.8 billion pesos, a 12.1% year-on-year increase.
• CASK in pesos decreased by 0.3%, year-on-year, despite the fuel price in pesos increasing by 16.3% year-on-year. CASK excluding fuel in pesos decreased by 4.1%, year-on-year, highlighting Grupo Aeromexico´s ongoing focus on optimizing unit costs.
• Fourth quarter EBITDAR reached $3.8 billion pesos, a 2.0% year-on-year increase. EBITDAR margin was 22.3%.
• During the fourth quarter of 2017, Grupo Aeromexico reported an operating profit of $802 million pesos, with an operating margin of 4.8%. This result represents the 31st consecutive quarter of positive EBIT results.
• Aeromexico reported a net profit of $465 million pesos for the fourth quarter 2017, an 80.7% year-on-year improvement. Net margin reached 2.8%.
• For full year 2017, Grupo Aeromexico´s revenue reached $61.5 billion pesos, a 14.0% increase compared to the same period of 2016. EBITDAR reached $14.8 billion pesos, a 7.9% year-on-year improvement. EBITDAR margin was 24.1%.
• Grupo Aeromexico reported an operating profit of $3.1 billion pesos, with an operating margin of 5.1% for the full year 2017. Grupo Aeromexico delivered a net profit of $18 million pesos in 2017.
• 2017 full year cash flow generation remained strong with $6.4 billion pesos in incremental net cash flow generated from operating activities. Aeromexico’s cash position as of December 31, 2017 was $11.9 billion pesos. This brings Grupo Aeromexico’s cash to last-twelve-month revenue ratio to 19.3%.
• During the quarter, the Company incorporated five aircraft into its fleet under operating lease agreements and one under a finance lease agreement. As of December 31, 2017 Grupo Aeromexico’s operating fleet comprised 131 aircraft.
All figures are expressed in millions of pesos unless otherwise indicated. Grupo Aeromexico’s financial statements are prepared in accordance with International Financial Reporting Standards (IFRS).