"Continued B737 expansion and increased ATP utilisation combined with strengthening of USD and GBP against SEK were the main drivers of the 9 % year-on-year increase in revenue during Q1, 2015"
- Gustaf Thureborn, CEO & President
First quarter summary
- Revenue increased to TSEK 332,002 (305,030), an increase of 9 % driven by increased operations and foreign exchange currency effects.
- Long term agreement signed with Norwegian Mail
- Two BAe ATP aircraft was deployed in operations
- Performed flights 6,592 (6,294) with a fleet dispatch regularity of 98.9 % (99.1)
- Adj. EBITDA TSEK 50,878 (55,463) decreased primarily following income from aircraft sales in 2014.
- Earnings per share SEK -0.46 (0.56)
Key performance indicators
| Jan - Mar 2015 | Jan - Mar 2014 | Jan - Dec 2014 | ||
| Financial metrics | ||||
| Revenue | 332,002 | 305,030 | 1,244,278 | |
| Adj. EBITDA | 50,878 | 55,463 | 224,412 | |
| EBITDA | 37,894 | 52,993 | 183,865 | |
| Net income | - 12,375 | 15,203 | 10,584 | |
| Cash flow from operating activities | 29,494 | 32,717 | 200,292 | |
| Cash flow from investing activities | -60,361 | -84,053 | - 190,650 | |
| Earnings per share | -0.46 | 0.56 | 0.39 | |
| Net interest bearing debt / EBITDA | 3.68 | 3.07 | 3.13 | |
| Interest coverage ratio* | 3.24 | 3.10 | 3.58 | |
| Equity / Asset ratio | 19.9% | 22.2% | 21.5% | |
| Operating metrics | ||||
| Fleet dispatch regularity | 98.9% | 99.1% | 99.3% | |
| Performed flights | 6,592 | 6,294 | 27,241 | |
| Scheduled destinations | 49 | 49 | 48 | |
| Aircraft in services (incl. wet leases) | 44 | 42 | 44 | |
| Average employees | 499 | 454 | 472 |
Financial calendar
Interim report Q2 (April - June) August 13th, 2015
Interim report Q3 (July - September) November 25th , 2015
Interim report Q4 (October - December) February 26th , 2016
Annual report 2015, April 27th, 2016
All reports are available in Swedish and English and can be found on the West Atlantic webpage. The reports can also be ordered electronically via investor.relations@westatlantic.eu.
Gothenburg 2015-05-27
Gustaf Thureborn
CEO and President
Contact
For further information please contact:
Gustaf Thureborn, CEO & President
investor.relations@westatlantic.eu
About West Atlantic Group
West Atlantic is a European dedicated cargo airline specialised in mail and express freight. Through many years of experience, the Group can offer its customers customised efficient solutions for airfreight services, maintenance and aircraft leasing. For the financial year ending 31 December 2014, West Atlantic reported revenues of MSEK 1,244 and EBITDA of MSEK 184.
West Atlantic AB (publ) Org. no: 556503-6083
Box 5433, SE-402 29 Gothenburg, Sweden
Investor Relations: investor.relations@westatlantic.eu
Webpage: www.westatlantic.eu
West Atlantic discloses the information in this release pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act.
WAG Interim Report Q1, 2015 http://hugin.info/160193/R/1923915/690123.pdf
HUG#1923915
