AUGUST 14TH, 2014
GOL Reports 6th Consecutive Quarterly EBIT Evolution, with Operating Margin of 1.6%, 3.4p.p. up over 2Q13
SAO PAULO, Aug. 13, 2014 /PRNewswire/ - GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B, Moody’s: B3), the largest low-cost and low-fare airline in Latin America, announces today its results for the second quarter of 2014.
Highlights
GOL registered a positive operating margin of 1.6% in 2Q14, 3.4 percentage points up year over year. As a result, operating income (EBIT) recorded its sixth consecutive quarterly improvement, reaching R$38 million, R$73 million more than in 2Q13. In the last twelve months (LTM), EBIT totaled R$382 million with an operating margin of 3.9%.
Net revenue reached R$2.4 billion, the Company’s highest ever second-quarter figure, 24% up over 2Q13. LTM net revenue stood at R$9.8 billion, R$1.7 billion higher than in the 2Q13 LTM.EBITDAR totaled R$375 million, 60% more than in 2Q13. LTM EBITDAR came to R$1.8 billion. As this indicator has a direct impact on financial leverage, the adjusted net debt/LTM EBITDAR ratio fell to 4.6x from 11.3x in 2Q13.
Total load factor came to 75.2% in the second quarter and 75.7% year to date, respective increases of 7.5 and 8.2 percentage points. Demand for seats increased by 10.5% year to date, while capacity fell by 1.5% in the same period. Since 2012, GOL has reduced its domestic market supply by 15%, reinforcing its flexible capacity management strategy.