OREANDA-NEWS. June 9, 2012. JSC “Aeroflot” summed up financial results for 12 months 2011.

Income statement

Revenue of JSC “Aeroflot” for 12 months 2011 totaled 135.801 bln rub., which is 23.23 bln (+20.6 per cent) more compared to the result of corresponding period of 2010.

Improvement of air carriage demand pushed up sales volume and resulted in revenue growth.

Revenue growth rate (+20.6 per cent) is in line with passenger turnover growth rate (+20.8 per cent) based on the result of 12 months 2011.

Cost of goods sold for 12 months 2011 totaled 111.081 bln rub.

Gross profit, profit before tax and net profit totaled 24.719 bln rub., 13.844 bln rub. and 10.40 bln rub. respectively.

Balance sheet

Total assets of JSC “Aeroflot” increased by 24.12 bln rub. (+33.2 per cent) and totaled 96.73 bln rub. compared to the beginning of 2011.

The main drivers for assets improvement were increasing of pre-delivery payments to leasing companies for aircraft and agents’ current liabilities increase due to sales growth.

Company’s long term liabilities mainly consisted of two bond issue in sum of 12.00 bln rub with 3 year maturity and compared to the beginning of 2011 grew insignificantly to 15.00 bln rub driven by liabilities related to the dispatched SSJ-100 aircraft.