Advanced Inflight Alliance AG / Half Year Results/Preliminary Results
24.08.2010 12:51
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Nonbinding voluntary Translation:
Ad hoc Announcement in accordance with Section
15 of the Securities Trade Act
Advanced Inflight Alliance AG releases preliminary financial figures for
the first half year 2010:
- Revenues slightly below last half year
- Results influenced by foreign currency effects, one-time effects and
investments in personnel resources
- EPS adjusted for foreign currency effects slightly below record level of
previous half year
Munich, 24th August 2010 - Advanced Inflight Alliance AG (ISIN
DE0001262186, WKN 126218, located at Schellingstr. 35, 80799 Munich)
releases preliminary financial figures for the first half year 2010.
In the first half year 2010 the operational business of Advanced Inflight
Alliance Group developed within the expectations of management. The
reported revenues are at TEUR 54,163 (Previous Half Year: TEUR 57,806). In
course of the preparation of the half year financial report 2010 a revenue
shift in favour of 2009 at one of the subsidiaries was identified, which
had almost no effect on earnings. Without this revenue shift the revenues
of the first half year 2010 would have been TEUR 55,051 compared to TEUR
56,619 in the previous period. This reflects a decrease in revenues of
approximately 3 percent, which mainly was caused by the deliberate
discontinuation of profit neutral revenues as well as the loss of
customers.
Due to the Euro crisis the earnings of Advanced Inflight Alliance Group in
the first half year 2010 were heavily influenced by foreign currency
effects. The reported foreign currency losses of TEUR 1,237 are to a
material extend unrealized book losses in connection with group internal
transactions, which already were reduced due to the recovery of the Euro
especially against the US-Dollar in the second half of 2010. Furthermore
the earnings in the first half year 2010 are influenced by one-time
expenses in connection with the change of the board of directors as well as
higher expenses in connection with the implementation of a new accounting
and consolidation software of in total about TEUR 500.
Compared to the previous half year the company substantially invested in
building up personnel resources for the expansion into new strategic
business areas within and outside Inflight Entertainment. In this context
the number of employees was increased by approximately 19 percent. The
corresponding personnel expenses increased by TEUR 1,631 or 18 percent from
TEUR 8,974 to TEUR 10,605.
The following comparable figures for the first half year 2009 were adjusted
for provisions for bonuses at the value of TEUR 245, which originally were
not made pro rata in 2009.
The earnings before interest, taxes, depreciation and amortisation (EBITDA)
adjusted for reported foreign currency effects for the first half year 2010
were TEUR 5,896 (Previous half year: TEUR 6,486; EBITDA after foreign
currency effects 1. HY 2010: TEUR 4,658 compared to TEUR 6,250 in the 1. HY
2009).
The earnings before interest and taxes (EBIT) adjusted for foreign currency
effects for the first half year 2010 were TEUR 4,141 compared to TEUR 4,498
in the previous half year (EBIT after foreign currency effects 1. HY 2010:
TEUR 2,903 compared to TEUR 4,262 in the 1. HY 2009).
The net income adjusted for foreign currency effects in the first half year
2010 was TEUR 3,139 compared to TEUR 3,329 in the previous half year (Net
income after foreign currency effects 1. HY 2010: TEUR 2,310 compared to
TEUR 3,171 in the 1. HY 2009).
The reported earnings per share (EPS) adjusted for foreign currency effects
were 0.22 Euro and were was slightly below the figure of the previous half
year of 0.23 Euro (EPS after foreign currency effects: 0.16 Euro compared
to 0.22 Euro in the previous half year).
The final financial figures for the first half year 2010 can vary slightly
from the today reported preliminary figures. The complete half year
financial report 2010 will be available on the internet page
www.advanced-inflight-alliance.com on 31st August 2010.
Advanced Inflight Alliance AG
Board of Directors
24.08.2010 12:51 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Advanced Inflight Alliance AG
Schellingstr. 35
80799 München
Deutschland
Phone: +49 (0)89 613805-0
Fax: +49 (0)89 613805-55
E-mail: info@aialliance.com
Internet: www.advanced-inflight-alliance.com
ISIN: DE0001262186
WKN: 126218
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in München, Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Advanced Inflight Alliance AG: releases preliminary financial figures for the first half year 2010
| Source: EQS Group AG