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Ural Airlines has summed up the financial results of 2019

Ural Airlines has summed up the financial results of 2019

09.04.2020

In 2019, Ural Airlines increased its RAS net profit by 5.4 times compared to 2018, to 2.092 billion rubles.

Revenue increased by 8.8% and amounted to 88.48 billion rubles. Including 68.156 billion rubles (in 2018 - 62.562 billion rubles) received from scheduled flights, of which 31.668 billion rubles from flights in Russia, 36.488 rubles abroad.

Cost of sales increased by 7.2%, reaching 81.364 billion rubles. The cost of aviation fuel in 2019 amounted to 24.518 billion rubles, while in 2018 - 23.243 billion rubles. Aircraft leasing expenses increased by 9.2%, to 7.29 billion rubles.

Accordingly, gross profit increased by 31.2%, up to 7.117 billion rubles, profit from sales - almost 36 times, up to 1.443 billion rubles.

Ural Airlines also increased “other revenues” by 23% to 4.422 billion rubles, while “other expenses” decreased by 1.6% to 2.777 billion rubles. This additionally affected the growth of profit before tax and net profit. EBITDA for 2019 amounted to 4.03 billion rubles, while in 2018 - 1.499 billion rubles.

Note that interruptions in the supply of aircraft (delays in the supply of contracted Airbus neo, as well as the suspension of supplies of the Boeing 737 MAX, led to a weakening of financial and operational indicators in 2019.

The main financial indicators of the airline (in thousand rubles):

2019

2018


Revenue 88 480 195 81 294 558
Cost of sales 81 363 570 75 869 359
Gross profit 7 116 625 5,425,199
Revenue from sales 1 442 947 40,248
Profit before tax 2 620 142 415 396
Net profit 2 091 775 385 924

Accounts receivable increased from 7.975 billion rubles at the end of 2018 to 8.758 billion rubles at the end of 2019, accounts payable - from 9.41 billion rubles to 9.958 billion rubles.