MEXICO CITY, July 25, 2018 /PRNewswire/ — Grupo Aeromexico S.A.B. de C.V. (“Aeromexico”) (BMV: AEROMEX), today reported its unaudited consolidated results for the second quarter 2018 (2Q18).
KEY FINANCIAL HIGHLIGHTS FOR THE SECOND QUARTER 2018
- Grupo Aeromexico’s second quarter 2018 revenue reached $17.3 billion pesos, a 19.1% year-on-year increase. During the quarter Revenue per ASK (RASK) increased by 9.0% compared to the same period of 2017.
- The quarterly financial results reflect the negative impact of increased fuel prices and the depreciation of the Mexican peso against the US dollar. CASK in pesos increased by 7.8%, while CASK in dollars increased 3.1% during the quarter. CASK excluding fuel in pesos increased by 4.3% while CASK excluding fuel in dollars decreased 0.3%, highlighting Grupo Aeromexico’s ongoing focus on optimizing unit costs.
- Second quarter EBITDAR reached $3.8 billion pesos. EBITDAR margin was 21.7%.
- During the second quarter of 2018, Grupo Aeromexico reported an operating profit of $651 million pesos. Operating margin reached 3.8%, 0.7 p.p. higher than the same period of 2017. This result represents the 33rd consecutive quarter of positive EBIT results.
- Aeromexico reported a net profit of $112 million pesos for the second quarter 2018. Net margin reached 0.6%.
- Second quarter 2018 cash flow generation from operating activities remained strong at $4.6 billion pesos. Aeromexico’s cash position as of June 30, 2018 was $14.9 billion pesos, equivalent to 22.4% of trailing twelve-month revenues. During the quarter, the Company incorporated three aircraft into its fleet under operating lease agreements. As of June 30, 2018, Grupo Aeromexico’s operating fleet comprised 133 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).
The International Accounting Standard 1 (IAS 1) “Presentation of Financial Statements” establishes that in the Consolidated Statement of Comprehensive Income additional items, headings and subtotals can be presented when they are relevant to understanding the financial performance of the entity.