Nordic Aviation Capital A/S delivers 42 per cent increase in operating profit, up from 169m USD to 239m USD ‐ a result considered to be satisfactory.

In the fiscal year ending June 30, 2015 NAC’s revenue increased from 311m USD the year before to 392m USD – up 26 per cent. Net profit after tax rose 37 per cent to 111m USD.

The achieved improvements reflects the company’s solid market position in a year where NAC has invested in 17 factory new ATR72‐600 and ATR42‐600, all placed on lease to clients. In addition, we have concluded 74 transactions involving pre‐owned aircraft including a single transaction involving 31 Bombardier Q400 – which is the largest single transaction recorded in the history of NAC. Total assets increased by 45 per cent to 3,173m USD.

NAC is pleased with the development in general and in particular with the outcome of the continued investments in the globalization of the company while at the same time successfully securing the financial capacity and external financing allowing further acceleration in the company’s growth trajectory. To further boost the company’s growth capacity, NAC’s owner, Martin Møller, in August 2015 signed an agreement with private equity firm EQT and Kirkbi Invest A/S to partner. This agreement is expected to become fully executed before the end of 2015. The transaction values NAC at 3.3bn USD on a cash and debt free basis.

“I am satisfied with the development as well as the results, and we will continue re‐ investing our retained earnings thus fully reflecting our expectations that the underlying trends will continue as we have come to see for quite some years” Chairman Martin Møller says in a brief statement to the annual report.

On June 30, 2015 NAC owns a fleet of more than 235 aircraft with an aggregate value of 2.8bn USD. This allows NAC to consolidate its market position as the world’s largest owner as well as lessor of regional turboprop aircraft. The primary business focus of NAC remains that of regional aircraft and within this segment in particular the large turboprop aircraft.

NAC currently employs 107 individuals – an increase by 20 people over the year – who are geographically split between the HQ in Billund and the three regional representations in Singapore, Ireland and North America.

NAC expects its growth to continue
NAC expects to continue the ongoing trend with a multitude of upcoming new deliveries of aircraft on lease to both new and existing clients. Simultaneously, the ongoing development and enforcements of the company’s globalization program remains a priority aiming at further consolidation of the company’s leading position in the global market place.

“The need for transportation by aircraft will continue growing globally, and the regional demands are driven not least by the increasing middle class throughout Asia. In addition, both South America and Europe, as already envisaged last year, continue showing a steady growth trajectory even though we also see certain areas demonstrating some relative weaknesses” says CEO Kim Graven‐Nielsen.

Nordic Aviation Capital A/S (NAC) is the world’s largest aircraft leasing company within turboprop aircraft. Currently the fleet stands at 235 aircraft, primarily large turboprop aircraft with a seat capacity ranging between 40 and 70 seats. The company’s 107 well‐ trained and motivated staff offers its service to 40 clients in 27 different countries. Over the past 19 years, NAC has demonstrated a continued growth in profit as well as total assets – and is still growing. Currently total assets stands at 3.2bn USD and shareholders’ equity amounts to 526m USD.