Aeromexico Reports 4Q17 Results

MEXICO CITY, Feb. 20, 2018 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeromexico") (BMV: AEROMEX), 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 31^st 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).

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.

To access the full text of this earnings release, please visit Aeromexico's Investor Relations website at:   https://aeromexico.com/en-us/investors.

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. 

About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico´s global airline, operates more than 600 daily flights and its main hub is in Terminal 2 at the Mexico City International Airport. Its destinations network features more than 90 cities on three continents, including 44 destinations in Mexico, 18 in the United States, 15 in Latin America, 4 in Canada, 4 in Europe, and 3 in Asia.

The Group's operating fleet of more than 120 aircraft is comprised of Boeing 787, 777 and 737 jet airliners and next generation Embraer 170 and 190 models. In 2012, the airline announced the most significant investment strategy in aviation history in Mexico, to purchase 100 Boeing aircraft including 90 MAX B737 jet airliners and 10 B787-9 Dreamliner's.

As a founding member of the SkyTeam airline alliance, Aeromexico offers customers more than 1,000 destinations in 177 countries served by the 20 SkyTeam airline partners rewarding passengers with benefits including access to 636 premium airport lounges around the world. Aeromexico also offers travel on its codeshare partner flights with Delta Air Lines, Air France-KLM, Avianca, Copa Airlines and WestJet, with extensive connectivity in countries like the United States, Brazil, Canada, Colombia and Peru.

https://aeromexico.com/en-us
https://www.skyteam.com/en
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SOURCE Grupo Aeromexico S.A.B. de C.V.