FINANCIAL RESULTS OF JSC “AEROFLOT” FOR 6 MONTHS OF 2013 (in accordance with RAS)

August 2, 2013, Moscow– JSC “Aeroflot” summed up financial results for the first 6 months of 2013 in accordance with Russian Accounting Standards (RAS).

Income statement
Revenue of JSC “Aeroflot” in the first 6 months of 2013 totaled 92.014 bln rub., which is 15.062 bln (+19.5 per cent) more compared to the result of corresponding period of 2012.

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

Cost of goods sold in the first 6 months of 2013 totaled 78.492 bln rub., which is 14.772 bln (+23.2 per cent) more compared to the result of the corresponding period of 2012. Higher cost of goods sold is justified by higher volume of air carriage operations, higher prices for outside suppliers’ services, additions of wide-body aircraft to Company’s fleet.

Cost of goods sold growth rate outpacing revenue growth rate is associated with seasonal factor in air carriages and fixed costs for aircraft fleet and ground equipment maintenance.

Net income in the first 6 months of 2013 totaled 5.317 bln rub., which is 0.623 bln rub. (-10.5 per cent) less compared to the result of the corresponding period of 2012.

Balance sheet
Total assets of JSC “Aeroflot” in the first 6 months of 2013 increased by 12.896 bln rub. (+12.0 per cent) compared to total assets as of 31.12.2012 and totaled 120.473 bln rub.

Company’s long term liabilities in the first 6 months of 2013 increased to 14.006 bln rub owing to BO-3 Series bond issue in April 2013 compared to long term liabilities as of 31.12.2012. JSC “Aeroflot” short term liabilities amounted to 51.712 bln rub.