|By PR Newswire||
|February 11, 2013 07:37 PM EST||
MEXICO CITY, Feb. 11, 2013 /PRNewswire/ -- Grupo Aeromexico S.A.B. De C.V. (BMV: AEROMEX) (Grupo Aeromexico or the Company), the largest intercontinental airline in Mexico, today reported consolidated unaudited results for the fourth quarter and full year 2012.
- Net income during the fourth quarter 2012 was MXP $612 million; an increase as compared to the MXP $294 million net income reported for the same period in 2011. Full year net income was MXP $1,323 million despite record-high fuel prices and the negative impact of a 5.8% exchange rate depreciation.
- Fourth quarter operating profit before other non-operating revenues and expenses was MXP $356 million, with a 3.6% margin. 2012 operating profit before other non-operating revenues and expenses was MXP $2,529 million, with a 6.4% margin. Operating margin was 6.5%, excluding the effect of Aeromexico Cargo consolidation.
- 2012 EBITDAR was MXP $6,811 million, the second highest annual EBITDAR in the Company's history, despite negative impacts related to the fuel price increase and the aforementioned exchange rate depreciation. EBITDAR margin was 17.2%; after adjusting for the cargo consolidation effect, this margin was 17.6%.
- Grupo Aeromexico reported record revenues of MXP $39,569 million in 2012; 10.5% growth year-over-year. This growth was driven primarily by increased yields, higher passenger flows and an increase in cargo revenues. Fourth quarter revenues reached MXP $9,897 million; a 1.7% increase year on year.
- Cost per available seat kilometer (CASK) excluding fuel and adjusting for the accounting effect of consolidating Aeromexico Cargo (AM Cargo), increased 5.4% in 2012 compared to last year. This is primarily due to the exchange rate depreciation. This indicator, expressed in U.S. dollars, decreased 1.7%. CASK in pesos, excluding fuel and the cargo business consolidation, grew 3.7% in the fourth quarter as compared to the same period last year.
- During the year, Grupo Aeromexico executed the most ambitious investment program in the Company's history, making payments of MXP $4,261 million in fixed assets investments, aircraft purchase prepayments, guarantee deposits and the amortization of debt not related to the purchase of aircraft. The Company's cash position as of December 31, 2012 was MXP $3,452 million.
- Grupo Aeromexico took delivery of eight new Embraer-190 in 2012. Six of these were delivered as part of the aircraft acquisition program through the BNDES credit line and two were delivered through operating leases. The Company also took delivery of three Boeing 737-800 through US Ex-Im Bank financing. Three Embraer 170 aircrafts also were added to the fleet through operating leases. Additionally, two Boeing 737-800, one Boeing 767-200 and one Embraer E-145 aircraft were re-delivered.
To access the full text of this earnings release, please visit our Investor Relations website at: http://www.aeromexico.com/us/Investor/
Grupo Aeromexico will hold its fourth quarter and full year 2012 results conference call on Thursday, February 14, 2013 at 11:00 am U.S. ET (10:00 am Mexico City Time). The conference call can be accessed by dialing USA/International +1 (719) 457-6787, Mexico: 001800-514 5956 and entering passcode: 4459558.
About Grupo Aeromexico
Grupo Aeromexico operates its main hub out of Terminal 2 in the Mexico City International Airport. The Group's airlines operate over 550 daily flights to different cities in Mexico, the United States, Canada, Central and South America, and Europe and Asia. Aeromexico is a founding member of SkyTeam, the global airline alliance comprised of 15 airlines.
Safe Harbor Statement
This release contains forward-looking statements regarding the Company's results and business prospects. The readers should know that the results obtained may differ from that stated on this release. Past performances do not guarantee the behavior of future performances. The Company undertakes no obligation to update any of these statements, either as a result of new information, future actions or other related events.
SOURCE Grupo Aeromexico S.A.B. De C.V.
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