2014

Grupo Aeromexico S.A.B. De C.V. Releases Results for the Third Quarter 2012

MEXICO CITY, Oct. 23, 2012 /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 third quarter 2012.

  • Grupo Aeromexico reported record revenues of MXP $10,524 million; 10.1% growth, year-over-year despite rain-related flight interruptions and runway repairs at the Mexico City airport, its main hub, which affected operations by approximately three days. These strong financial results were primarily driven by an increase in yield, higher passenger traffic and strengthened cargo revenues. Total revenues for the first nine months of the year were MXP $29,672 million; 13.8% greater than the same period in 2011.
  • Cost per Available Seat Kilometer (CASK) excluding the impact both of fuel and of consolidating the Company's cargo business unit (AM Cargo), increased 4.4% compared to the same period of last year, primarily due to 7% exchange rate depreciation. This figure, stated in dollars, decreased 3.5%, which is a reflection of the Company's commitment to strict expense rationalization and improved efficiency.
  • Quarterly EBITDAR totaled MXP $2,081; the Company's second highest third quarter EBITDAR, nearly equal to its record third quarter 2011 EBITDAR despite a significant 6.3% increase in fuel prices and the exchange rate depreciation mentioned above. EBITDAR margin was 19.8%, excluding the Aeromexico Cargo consolidation effect the margin was 20.6%.
  • Quarterly operating profit before non-operating revenues and expenses was MXP $976 million with an operating margin of 9.3%. Operating margin was 9.8%, excluding the effect of Aeromexico Cargo consolidation.
  • Net income for the quarter was MXP $423 million with a net margin of 4.0%. This result reflects the negative non-recurrent impact of MXP $156 million resulting from exchange rate depreciation and negative adjustments in the market value of fuel hedging positions during the quarter.
  • During the quarter the Company made payments of approximately MXP $2,270 million in fixed assets, prepayments related to the purchase of aircraft, guarantee deposits and the amortization of financial debt not related to aircraft acquisition, as part of its unprecedented annual investment program. Grupo Aeromexico's cash position as of September 30, 2012 was MXP $3,199 million.
  • Grupo Aeromexico took delivery of two Embraer 190 aircraft in the third quarter; one using BNDES credit lines and one through an operating lease. The Company also took delivery of two Boeing 737-800s, both through US Ex-Im Bank financing, and of two 76 seat Embraer 170s through operating leases.
  • As of September 30, 2012, Stockholders' equity was $7,014 million pesos; MXP $366 million greater than that of the second quarter of 2012.

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 third quarter 2012 conference call on Wednesday, October 24, 2012 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 2696, Mexico: 001 800 514 5956, passcode: 7551245

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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