West Atlantic reports strong growth in the fourth quarter
West Atlantic, the Swedish air freight company, reported an underlying revenue growth of 9.2 per cent compared to the same quarter in 2014. The growth is primarily attributable to the Boeing 737 fleet expansion and the deployment of three Boeing 767 aircraft during the year.
"We are delighted to deliver a strong underlying growth in the fourth quarter following the successful development of the Group's air freight services. West Atlantic has continuously phased in new B737 and B767 capacity during the year with more to follow.", says Gustaf Thureborn, CEO and President of West Atlantic.
Revenues grew 12.6 per cent compared to the same quarter 2014, and adjusted EBITDA amounted to TSEK 61,463 (55,590), corresponding to a margin of 16.9 per cent (17.2).
The overall development of the European air freight market remains strong with regards to both temporary cover and long term additions which is illustrated by the awards during the year.
"We believe the revenue growth will continue for the first half of 2016", says Gustaf Thureborn.
The full report can be downloaded at http://www.westatlantic.eu/
For further information, please contact:
CEO, Gustaf Thureborn, +46 (0) 10-452 95 07
CFO, Magnus Dahlberg, +46 (0) 10-452 95 49
The West Atlantic Group is one of the market leading providers of dedicated air freight services to European NMO's and air freight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates an aircraft fleet of 48 customised aircraft, whereof a majority is wholly owned. West Atlantic was founded in 1962 and is headquartered in Gothenburg, Sweden. Operations are performed all over Europe and per December 31 2015 West Atlantic had 511 employees. For 2015 West Atlantic reported revenues of MSEK 1,410 and adjusted EBITDA of MSEK 248.
West Atlantic AB (publ) discloses the information contained in this interim report pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instrument Trading Act.
HUG#1989944
