Airline-interim-report-q1-2019

Income Statement
XXX GROUP
2016 2016 2015-2016 2016-2017 2017 2017 2017 2016-2017 2017-2018 2018 2018 2018 2017-2018 2018-2019
Statement of income (MSEK) MAY-Jul AUG-OCT NOV-OCT NOV-JAN FEB-APR MAY-JUL AUG-OCT NOV-OCT NOV-JAN FEB-APR MAY-JUL AUG-OCT NOV-OCT NOV-JAN
Passenger revenue 8,616 8,530 30,371 6,879 7,528 9,375 8,862 32,644 6,749 7,601 10,094 9,633 34,077 7,110
Charter revenue 727 651 1,791 236 258 789 681 1,964 192 217 839 709 1,957 227
Cargo and mail revenue 288 327 1,253 373 373 353 371 1,470 420 397 397 418 1,632 430
Other traffic revenue 585 634 2,293 479 625 671 644 2,419 546 626 739 790 2,701 625
Other operating revenue 917 993 3,751 990 1,059 1,022 1,086 4,157 1,071 1,075 1,077 1,128 4,351 1,142
Operating revenue 11,133 11,135 39,459 8,957 9,843 12,210 11,644 42,654 8,978 9,916 13,146 12,678 44,718 9,534
Payroll expenses -2,275 -2,185 -9,105 -2,421 -2,302 -2,293 -2,189 -9,205 -2,268 -2,355 -2,385 -2,433 -9,441 -2,401
Selling and distribution costs -591 -628 -2,372 -558 -596 -608 -655 -2,417 -565 -623 -667 -728 -2,583 -626
Jet fuel -1,765 -1,959 -6,449 -1,579 -1,659 -1,824 -1,774 -6,836 -1,570 -1,645 -2,324 -2,455 -7,994 -1,961
Government user fees -1,090 -1,128 -4,106 -970 -1,041 -1,148 -1,103 -4,262 -921 -972 -1,149 -1,117 -4,159 -916
Catering costs -274 -279 -948 -239 -249 -308 -279 -1,075 -267 -285 -362 -349 -1,263 -262
Handling costs -647 -682 -2,477 -661 -699 -681 -663 -2,704 -603 -670 -685 -705 -2,663 -660
Technical aircraft maintenance -799 -870 -3,292 -855 -831 -760 -1,069 -3,515 -693 -635 -726 -843 -2,897 -682
Data and telecommunications costs -344 -377 -1,382 -366 -383 -418 -402 -1,569 -364 -335 -408 -447 -1,554 -404
Wet lease costs -224 -213 -737 -181 -291 -333 -318 -1,123 -261 -339 -343 -340 -1,283 -309
Other expenses -950 -1,134 -2,789 -696 -1,439 -698 -1,155 -3,988 -627 -1,331 -767 -1,217 -3,942 -567
Operating expenses -8,959 -9,455 -33,657 -8,526 -9,490 -9,071 -9,607 -36,694 -8,139 -9,190 -9,816 -10,634 -37,779 -8,788
Operating income before depreciation and leasing costs, EBITDAR 2,174 1,680 5,802 431 353 3,139 2,037 5,960 839 726 3,330 2,044 6,939 746
Leasing costs for aircraft -737 -697 -2,840 -733 -801 -808 -774 -3,116 -760 -765 -814 -817 -3,156 -787
Operating income before depreciation, EBITDA 1,437 983 2,962 -302 -448 2,331 1,263 2,844 79 -39 2,516 1,227 3,783 -41
Depreciation, amotization and impairment -337 -377 -1,367 -327 -388 -343 -577 -1,635 -353 -374 -404 -632 -1,763 -419
Share of income in affiliated companies 25 28 39 -11 3 -4 16 4 -9 -8 29 23 35 -9
Income from the sale of shares in subsidiaries and affiliated companies 0 -11 -7 -21 0 0 0 -21 -4 0 0 0 -4 0
Income from the sale of aircraft and buildings 33 57 265 84 723 110 78 995 104 47 26 302 479 8
Operating income, EBIT 1,158 680 1,892 -577 -110 2,094 780 2,187 -183 -374 2,167 920 2,530 -461
Income from other shares and participations 0 0 1 0 1 0 0 1 0 0 0 0 0 0
Financial income 20 17 91 41 43 29 35 148 34 30 34 31 129 44
Financial expenses -142 -120 -553 -161 -142 -150 -158 -611 -136 -144 -167 -162 -609 -159
Income before tax 1,036 577 1,431 -697 -208 1,973 657 1,725 -285 -488 2,034 789 2,050 -576
Tax -231 14 -110 141 -112 -438 -167 -576 36 139 -464 -166 -455 107
Net income 805 591 1,321 -556 -320 1,535 490 1,149 -249 -349 1,570 623 1,595 -469
Attributable to: Parent Company shareholders 805 591 1,321 -556 -320 1,535 490 1,149 -249 -349 1,570 623 1,595 -469
Attributable to: Minority interests 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Premises & property costs -229 -228 -927 -231 -229 -217 -244 -921 -223 -375 -212 -213 -1,023 -217
Rental/lease of fixed assets -147 -112 -444 -126 -150 -131 -148 -555 -136 -134 -134 -128 -532 -140
Printing & expendable material -29 -22 -94 -28 -24 -19 -22 -93 -23 -25 -20 -17 -85 -19
Freight & duty -42 -39 -167 -48 -45 -44 -51 -188 -56 -44 -49 -46 -195 -50
Travel/route expenses -93 -99 -357 -90 -86 -89 -101 -366 -98 -93 -103 -104 -398 -108
Administrative & sundry external services -105 -119 -442 -123 -95 -102 -112 -432 -107 -137 -116 -161 -521 -142
Passenger service on ground -143 -150 -485 -110 -79 -147 -139 -475 -148 -146 -308 -353 -955 -166
Other -162 -365 127 60 -731 51 -338 -958 164 -377 175 -195 -233 275
Total -950 -1,134 -2,789 -696 -1,439 -698 -1,155 -3,988 -627 -1,331 -767 -1,217 -3,942 -567
Income before tax 1,036 577 1,431 -697 -208 1,973 657 1,725 -273 -499 2,004 809 2,041 -576
Impairment losses 0 11 11 0 0 0 208 208 0 0 0 206 206 0
Restructuring costs 0 31 42 23 0 0 87 110 0 226 0 29 255 -8
Capital gains/losses -33 -57 -269 -63 -723 -110 -78 -974 -100 -47 -26 -302 -475 8
Other nonrecurring items 0 379 -276 30 672 0 180 882 0 0 0 100 100 148
Income before tax and nonrecurring items 1,003 941 939 -707 -259 1,863 1,054 1,951 -373 -320 1,978 842 2,127 -724

Balance Sheet
XXX GROUP
Condensed balance cheet (MSEK) Jan 31, Oct 31, Jul 31, Apr 30, Jan 31, Oct 31, Jul 31, Apr 30, Jan 31, Oct 31, Jul 31, Apr 30, Jan 31,
Year 2019 2018 2018 2018 2018 2017 2017 2017 2017 2016 2016 2016 2016
Intangible assets 1,463 1,498 1,528 1,564 1,553 1,581 1,804 1,850 1,906 1,923 1,880 1,853 1,793
Tangible fixed assets 13,704 12,240 12,299 11,751 10,736 10,692 10,453 11,014 10,870 11,195 10,160 9,497 9,465
Financial fixed assets 7,371 7,389 7,427 7,998 8,114 7,979 7,416 7,471 7,199 6,201 6,130 6,839 7,259
Total fixed assets 22,538 21,127 21,254 21,313 20,403 20,252 19,673 20,335 19,975 19,319 18,170 18,189 18,517
Other current assets 396 401 395 351 334 321 327 311 313 312 304 285 324
Current receivables 2,802 2,915 3,125 4,135 3,129 3,146 2,942 3,639 3,386 3,753 3,126 3,370 3,208
Cash and cash equivalents 7,247 9,756 8,525 7,421 9,251 8,836 8,620 9,077 7,226 8,370 8,449 9,121 7,440
Total current assets 10,445 13,072 12,045 11,907 12,714 12,303 11,889 13,027 10,925 12,435 11,879 12,776 10,972
Total assets 32,983 34,199 33,299 33,220 33,117 32,555 31,562 33,362 30,900 31,754 30,049 30,965 29,489
Shareholders’ equity 4,749 7,268 6,779 6,003 9,024 8,058 6,716 5,305 6,143 6,026 5,154 4,679 4,843
Long-term liabilities 12,934 12,011 10,739 8,804 10,613 9,363 9,441 10,408 8,242 9,822 9,388 9,355 9,478
Current liabilities 15,300 14,920 15,781 18,413 13,480 15,134 15,405 17,649 16,515 15,906 15,507 16,931 15,168
Total shareholders’ equity and liabilities 32,983 34,199 33,299 33,220 33,117 32,555 31,562 33,362 30,900 31,754 30,049 30,965 29,489
Shareholders’ equity per common share (SEK) 12.41 16.11 14.84 12.81 13.98 13.28 9.21 4.94 7.48 7.12 4.48 3.04 3.54
Interest-bearing assets 13,309 16,549 15,477 15,207 16,929 16,245 15,075 15,245 13,477 13,661 13,659 14,833 13,661
Interest-bearing liabilities 11,735 10,092 9,207 8,274 8,234 8,575 8,823 9,426 9,231 9,880 9,921 9,993 10,940

CashFlow
XXX GROUP
2018-2019 2017-2018 2018 2018 2018 2017-2018 2016-2017 2017 2017 2017 2016-2017 2015-2016 2016
Condensed cash-flow statement (MSEK) NOV-JAN NOV-OCT AUG-OCT MAY-JUL FEB-APR NOV-JAN NOV-OCT AUG-OCT MAY-JUL FEB-APR NOV-JAN NOV-OCT AUG-OCT
Income before tax -576 2050 789 2034 -488 -285 1725 657 1973 -208 -697 1431 577
Depreciation, amortization and impairment 419 1763 632 404 374 353 1635 577 343 388 327 1367 377
Income from sale of aircraft, buildings and shares -8 -475 -302 -26 -47 -100 -974 -78 -110 -723 -63 -269 -57
Adjustment for other items not included in the cash flow, etc. -206 219 171 -171 217 2 341 280 -692 628 125 277 247
Tax paid -47 -45 -1 -2 0 -42 -26 -4 -22 0 0 0 0
Cash flow from operations before change in working capital -418 3512 1289 2239 56 -72 2701 1432 1492 85 -308 2806 1144
Change in working capital -264 1047 -444 -1075 2310 256 -258 -549 -1519 1867 -57 857 143
Cash flow from operating activities -682 4559 845 1164 2366 184 2443 883 -27 1952 -365 3663 1287
Investments including advance payments to aircraft manufacturers -1840 -6840 -1418 -1397 -2003 -2022 -7315 -1755 -2128 -1918 -1514 -5960 -1771
Acquisition of subsidiaries -16 0 0 0 0 0 0 0 0 0 0 0 0
Sale of subsidiaries and operations 0 -3 0 0 0 -3 -24 0 0 4 -28 -2 0
Sale of fixed assets, etc. -28 4164 1231 430 875 1628 7252 1345 2607 1761 1539 3347 524
Cash flow before financing activities -2566 1880 658 197 1238 -213 2356 473 452 1799 -368 1048 40
New share issue 0 1223 0 0 1 1222 0 0 0 0 0 0 0
Dividend on preference shares -26 -228 -27 -26 -88 -87 -350 -87 -88 -88 -87 -350 -87
Redemtion of preference shares -1112 -2579 0 0 -2579 0 0 0 0 0 0 0 0
External financing, net 1196 621 599 934 -405 -507 -1537 -169 -821 140 -687 -530 -35
Cash flow for the period -2508 917 1230 1105 -1833 415 469 217 -457 1851 -1142 168 -82
Translation difference in cash and cash equivalents -1 3 1 -1 3 0 -3 -1 0 0 -2 4 3
Change in cash and cash equivalents according to the balance sheet -2509 920 1231 1104 -1830 415 466 216 -457 1851 -1144 172 -79

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