Grupo Aeromexico, S A B de C V (“Aeromexico”), the largest airline in Mexico, today reported its unaudited consolidated results for the fourth quarter and full year 2014.
KEY FINANCIAL HIGHLIGHTS FOR THE FOURTH QUARTER 2014
• Grupo Aeromexico’s fourth quarter 2014 revenues reached $11.60 billion pesos; an 8.3% year-on-year increase. Total revenues in 2014 reached $42.92 billion pesos, a 7.7% increase compared to 2013.
• During the fourth quarter of 2014, Grupo Aeromexico reported a 45.9% year-on-year increase in operating profit, to reach a total of $925 million pesos; this represents 19 consecutive quarters of positive EBIT results. Operating margin reached 8.0%, a 2.1 percentage points improvement compared to the same period of 2013. Full year operating income was $1.68 billion pesos with a 3.9% margin.
• Fourth quarter adjusted EBITDAR reached $2.68 billion pesos; a 28.0% increase compared to the prior year. Adjusted EBITDAR margin amounted to 23.1%, 3.5 percentage points higher than in 4Q of 2013. In 2014, adjusted EBITDAR reached $8.07 billion pesos with an 18.8% margin.
• Net income in the fourth quarter reached $761 million pesos with a 6.6% margin. Full year net income was $783 million pesos with a 1.8% margin.
• Grupo Aeromexico retired three aircraft under operating lease agreements from its fleet during the fourth quarter of 2014: one B767 and two E-145. The Company added two B737-800 and two E-190 to the fleet, also under operating lease agreements. Grupo Aeromexico’s operating fleet therefore consisted of 124 aircraft, an increase of one aircraft compared to third quarter of 2014. In December 2014, Grupo Aeromexico took delivery of its sixth B787-8 Dreamliner, which commenced operating in January 2015.
• 2014 is the first year in which international passenger revenues have exceeded domestic passenger revenues, contributing to an overall natural hedge between foreign currency-denominated revenues and costs.