News Column

Aeroflot 1H14 IFRS results

August 31, 2014



Aeroflot reported weak 1H14 IFRS results, which were in line with our forecasts, but well below consensus on the EBITDA and net profit lines. The company reported EBITDA of USD 199mn, missing consensus by 16% and our forecast by 14%. The net loss of USD 54mn came in 91% below consensus and 6% below us. The results provide downside risks to consensus full-year EBITDA estimate of USD 898mn and even to our estimate of USD 816mn.


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Source: EMBIN (Emerging Markets Business Information News)


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