OREANDA-NEWS. Russian Helicopters, JSC (“the Company”), a leading global designer and manufacturer of helicopters, and producer of some of the world’s most innovative and widely operated models, announces its consolidated operating and audited financial results for the year ended 31 December 2012 under IFRS.
Helicopter deliveries increased by 10.7% and reached 290 units;
Firm backlog totaled 817 helicopters as of 31 December 2012;
Revenue grew by 21.0% to RUB 125.7 billion;
EBITDA1 rose 16.0% to RUB 20.8 billion, representing a solid EBITDA margin of 16.6%;
Profit increased by 35.2% and totaled RUB 9.4 billion.


Dmitry Petrov, CEO of Russian Helicopters, commented: “Last year was another year of steady growth and successful achievements for the Company. We continued to increase deliveries to our customers, which demonstrates the growing global demand for our helicopters. In 2012 we delivered 290 helicopters of nine different types to our clients from 19 countries – a 10.7% increase compared to the previous year. We maintained our firm backlog at a high level; at the end of the year the backlog stood at 817 helicopters with a value in excess of RUB 350 billion.

During 2013 we will continue to focus our activities on key strategic areas: we will continue to modernize and diversify our model range, to develop our aftermarket service network and to increase operational efficiency.

We aim to further strengthen Company’s global market position, and ensure its further dynamic growth and steady development.”

2012 Full Year Financial Highlights

The Company’s consolidated revenues in 2012 totaled RUB 125.7 billion, an increase of 21.0% compared to RUB 103.9 billion in 2011. This was driven primarily by growth of 10.7% in helicopter deliveries. Revenues from helicopter sales amounted to RUB 99.0 billion in 2012, while revenues from services and support reached RUB 18.4 billion.

Cost of sales increased by 26.3% compared to 2011 and amounted to RUB 79.9 billion in 2012. Operating expenses increased by 18.2% year-on-year and totaled RUB 30.6 billion.

EBITDA rose 16.0% year-on-year and reached RUB 20.8 billion in 2012. EBITDA for the helicopter sales segment amounted to RUB 15.4 billion, and EBITDA for our services and support segment amounted to RUB 4.2 billion.

The Company’s profit grew 35.2% year-on-year and totaled RUB 9.4 billion for the year.

Cash CAPEX slightly decreased by 5.5% compared to 2011 and amounted to RUB 13.0 billion in 2012, including investments in production facilities of RUB 7.6 billion, a decrease of 16.4% compared to 2011.

Russian Helicopters’ development costs increased by 16.1% compared to 2011 and amounted to RUB 5.3 billion in 2012. The Company continues to pursue a strategy designed to foster innovation.

2012 Full Year Operating Highlights

Helicopter deliveries in 2012 increased to 290 units, 28 units or 10.7% up compared to 2011. The Company delivered nine types of helicopters to clients from 19 countries in 2012.

The Company’s firm backlog reached 817 units and its value exceeded RUB 359.9 billion in 2012. In 2012 the Company signed several significant contracts for the supply of helicopters in 2012-2016 with India, China and Brazil. The delivery plan for 2013 is 100% secured with firm orders.

1 The Company defines EBITDA as operating profit before depreciation and amortization, adjusted for gain /loss on disposal of property plant and equipment, impairment of property, plant and equipment with share in results of associates included. EBITDA is a non-IFRS financial measure; therefore the Company’s definition of EBITDA may differ from similar measures defined by other companies.

http://www.russianhelicopters.aero/en/press/news/4193.html

Ryanair Launches New Partnership with National Express

OREANDA-NEWS. Ryanair, Europe’s only ultra-low cost carrier (ULCC), today (28 Mar) announced a new partnership with Europe’s largest scheduled coach operator, National Express, offering Ryanair passengers travelling to/from London and Manchester affordable and direct coach travel.
 
Ryanair passengers travelling to/from London Gatwick, London Luton, London Stansted and Manchester can avail of direct National Express connections to and from the airport door by booking online on the Ryanair.com website or purchasing tickets onboard Ryanair flights in the UK. Approximately one-third of the National Express network operates to airports, 24 hours a day, 7 days a week providing Ryanair passengers with convenient and reliable coach travel.
 
 
Ryanair’s Robin Kiely said:
           
“Ryanair will carry over 80m passengers this year at the lowest fares, connecting 180 airports through over 1,500 routes. Now our passengers can go even further thanks to a new partnership with National Express, with coach tickets available to purchase both on the Ryanair.com website and onboard Ryanair flights operating to and from London Gatwick, London Luton, London Stansted and Manchester Airport.”