A3 financial results [last update Nov 2023, Q3 2023 results]
Oct 19, 2021, 5:26 am
#151
Join Date: Feb 2020
Posts: 488
Nov 24, 2021, 12:59 am
#152
Original Poster
Join Date: Jun 2006
Posts: 5,867
PRESS RELEASE
Third quarter and nine-month 2021 trading update
€59 mil. headline pre-tax profit, 3,3 mil. passengers and doubling of revenues in the third quarter of 2021 compared with 2020.
First profitable quarter since the beginning of the pandemic.
Nine-month headline pre-tax result remains loss making.
Athens, November 24th, 2021
AEGEAN announces a trading update for the third quarter and nine-month period ending September 30, 2021.
Following the introduction of EU Digital COVID Certificate and the easing of travel restrictions during the third quarter of 2021, AEGEAN operated with increased capacity and managed to double its revenue and international passenger traffic compared with the third quarter of 2020.
The Group offered 4,6 mil. seats and carried 3,3 mil. passengers with domestic traffic reaching 1,5 mil. passengers and international traffic 1,8 mil. passengers. Load factor for the period stood at 70,3%, higher than the third quarter of 2020, which stood at 65,7%, but significantly lower than pre-pandemic levels of 87,7% in the corresponding period in 2019.
Consolidated revenues amounted to €333,9 mil., an increase of 115% compared with the third quarter of 2020. Headline profit before taxes on a comparable basis amounted to €58,8 mil. in the third quarter of 2021 from losses before taxes totalling €36,9 mil. in the third quarter of 2020.
It is important to note that the third quarter of 2021 is the first profitable quarter since the start of the pandemic in which AEGEAN recorded headline profitability by offering 76% of its capacity in ASK’s compared with the third quarter of 2019. During this period the company operated with direct international flights from its bases in Athens, Thessaloniki, Heraklion, Rhodes, Chania, Corfu, Mykonos and Larnaca, supporting the gradual return to normality and Greece’s tourism.
In the nine-month period of 2021, which included the effect of the second lockdown that restricted significantly activity for the first half of the year, consolidated revenue stood at €486,8 mil., 42% higher than the respective period in 2020. The Group carried 5 mil. passengers up from 4,4 mil. passengers in the nine-month period of 2020 while headline losses before taxes stood at €32,9 mil. from €237,7 mil. losses before taxes in the respective period in 2020.
https://en.aegeanair.com/-/media/abo...results_en.pdf
Third quarter and nine-month 2021 trading update
€59 mil. headline pre-tax profit, 3,3 mil. passengers and doubling of revenues in the third quarter of 2021 compared with 2020.
First profitable quarter since the beginning of the pandemic.
Nine-month headline pre-tax result remains loss making.
Athens, November 24th, 2021
AEGEAN announces a trading update for the third quarter and nine-month period ending September 30, 2021.
Following the introduction of EU Digital COVID Certificate and the easing of travel restrictions during the third quarter of 2021, AEGEAN operated with increased capacity and managed to double its revenue and international passenger traffic compared with the third quarter of 2020.
The Group offered 4,6 mil. seats and carried 3,3 mil. passengers with domestic traffic reaching 1,5 mil. passengers and international traffic 1,8 mil. passengers. Load factor for the period stood at 70,3%, higher than the third quarter of 2020, which stood at 65,7%, but significantly lower than pre-pandemic levels of 87,7% in the corresponding period in 2019.
Consolidated revenues amounted to €333,9 mil., an increase of 115% compared with the third quarter of 2020. Headline profit before taxes on a comparable basis amounted to €58,8 mil. in the third quarter of 2021 from losses before taxes totalling €36,9 mil. in the third quarter of 2020.
It is important to note that the third quarter of 2021 is the first profitable quarter since the start of the pandemic in which AEGEAN recorded headline profitability by offering 76% of its capacity in ASK’s compared with the third quarter of 2019. During this period the company operated with direct international flights from its bases in Athens, Thessaloniki, Heraklion, Rhodes, Chania, Corfu, Mykonos and Larnaca, supporting the gradual return to normality and Greece’s tourism.
In the nine-month period of 2021, which included the effect of the second lockdown that restricted significantly activity for the first half of the year, consolidated revenue stood at €486,8 mil., 42% higher than the respective period in 2020. The Group carried 5 mil. passengers up from 4,4 mil. passengers in the nine-month period of 2020 while headline losses before taxes stood at €32,9 mil. from €237,7 mil. losses before taxes in the respective period in 2020.
https://en.aegeanair.com/-/media/abo...results_en.pdf
Nov 24, 2021, 10:15 am
#155
Join Date: Feb 2020
Posts: 488
Mar 23, 2022, 1:28 am
#156
Original Poster
Join Date: Jun 2006
Posts: 5,867
May 26, 2022, 8:31 am
#158
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Posts: 5,867
May 28, 2022, 3:55 pm
#159
Join Date: Dec 2013
Location: Cyprus
Programs: THY Elite Plus, Aegean Gold, LH FTL. Former BA Gold, Air France Platinum, Czech Gold, United PE.
Posts: 644
So what conclusions can be drawn from the latest financial update? For me, the two things that stand out are: (1) net losses in Q1 2022 were not significantly better than in Q1 2021; and (2) the net assets of Aegean appear to be a rather meagre €220 million. It is no wonder that the Aegean CEO could not put much of a positive spin on the results.
May 29, 2022, 6:33 am
#161
Original Poster
Join Date: Jun 2006
Posts: 5,867
So what conclusions can be drawn from the latest financial update? For me, the two things that stand out are: (1) net losses in Q1 2022 were not significantly better than in Q1 2021; and (2) the net assets of Aegean appear to be a rather meagre €220 million. It is no wonder that the Aegean CEO could not put much of a positive spin on the results.
May 29, 2022, 9:31 am
#162
Join Date: Dec 2013
Location: Cyprus
Programs: THY Elite Plus, Aegean Gold, LH FTL. Former BA Gold, Air France Platinum, Czech Gold, United PE.
Posts: 644
It is easy to say, 'yes but...' The Aegean quarterly financial update you posted reports 'facts' as reported by the company to its shareholders and, as such, merits discussion and explanation. I believe that a lot of previous bad news is hidden in the current figures and this will continue to affect the profitability and asset situation of Aegean for some time. Concerning the rest of the year, I agree that 2022 should, in nominal terms at least, probably be the best year ever for Greece's tourist industry. The same will be the case for Cyprus despite the absence of high-spending Russian and Ukrainian tourists. I know of businesses in Cyprus that are currently 40% up on their previous best figures for January-May. But the future can easily be written differently with monkey business from one of our Levantine cousins, earthquakes or a blockade of the Bosphorous......
Jun 9, 2022, 3:28 am
#164
Join Date: Feb 2020
Posts: 488
Jun 9, 2022, 9:32 am
#165
Join Date: Jul 2019
Posts: 1,308
Also, after the addition of Cologne airport destinations in Germany are currently 12 (Frankfurt, Munich, Düsseldorf, Stuttgart, Hamburg, Berlin, Hannover, Nuremberg, Cologne, Karlsruhe / Baden-Baden, Münster Osnabrück)
