80799 München, de
Advanced Inflight Alliance AG announces preliminary financial results for the financial year 2013
Ad hoc announcement in accordance with Section 15 German Securities Trading Act
- EBITDA also driven by one-time effects increases by 75 percent to EUR 25.5 million
- Adjusted EBITDA at EUR 21.1 million exceeds previous year's number by 39 percent
- High financial income of EUR 7.7 million from financial investments
- Net profit at EUR 21.3 million almost quadrupled due to one-time effects and high financial income
Advanced Inflight Alliance AG releases its preliminary Group financials for the financial year 2013:
The consolidated Group revenues of Advanced Inflight Alliance Group slightly decreased by 1 percent from EUR 130.3 million in 2012 to EUR 128.8 million in 2013. The main reasons for this development were a slightly less favorable currency environment as well as changes in the customer base in the Content Service Providing (CSP) business.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 25.5 million in 2013 and therefore were 75 percent above the previous year's figure of EUR 14.6 million. But in 2013 the EBITDA was affected by high one-time effects. The release of accruals resulted in a positive one-time effect of in total EUR 5.4 million. On the other side higher risk provisions in context with lawsuits as well as one-time effects in context with restructuring measures generated negative one-time effects of in total EUR 1.3 million. Furthermore, EBITDA in 2013 contained positive reported foreign currency effects of EUR 0.3 million. At EUR 21.1 million, EBITDA adjusted for one-time effects and reported foreign currency effects increased by around 39 percent on the previous year's adjusted EBITDA of EUR 15.2 million.
Earnings before interest and taxes (EBIT) stood at EUR 19.8 million in 2013 and therefore were roughly 100 percent higher than the EBIT for 2012 of EUR 9.9 million. The EBIT adjusted for one-time effects and reported foreign currency effects in 2013 was EUR 15.4 million. This represents an increase of 47 percent compared to the previous year's figure of EUR 10.5 million.
In 2013 Advanced Inflight Alliance Group reported a finance income of EUR 7.9 million (2012: EUR 231 thousand). This finance income is mainly driven by book profits realized in context with AIA's investment in Row 44 Inc. respectively in Global Eagle Entertainment Inc. at a total of EUR 5.2 million as well as profits generated in course of the sale of the shares in GuestLogix Inc. of EUR 2.5 million.
The Advanced Inflight Alliance Group reported earnings before taxes (EBT) of EUR 26.9 million for 2013. This represents more than a triplication compared to the previous year's EBT of EUR 8.6 million, which is predominately driven by the one-time effects and the finance income. The EBT adjusted for one-time effects, the finance income and for reported foreign currency effects in 2013 was EUR 14.8 million, which represents an increase of 61 percent compared to the previous year's figure of EUR 9.2 million.
The net profit for 2013 at EUR 21.3 million was substantially up compared to the previous year's figure of EUR 5.1 million, due to the one-time effects and the financial income. This development represents almost a quadruplication.
Amounting to EUR 0.89 in 2013, earnings per share (EPS) in accordance with IFRS substantially increased compared to the previous year's figure of EUR 0.25.
The final figures for the financial year 2013 may differ from the preliminary figures reported today. The complete financial report for the financial year 2013 will be available for downloading under www.advanced-inflight-alliance.com as of April 4, 2014.
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