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Press release Box-ID: 368176

Advanced Inflight Alliance AG Schellingstraße 35 80799 München, Germany http://www.advanced-inflight-alliance.com
Contact Ms Anja Glauer +49 89 6138050
Company logo of Advanced Inflight Alliance AG
Advanced Inflight Alliance AG

Advanced Inflight Alliance AG releases preliminary financial figures for the first half year 2010

(PresseBox) (Munich, )
.
- Revenues slightly below last half year
- Results influenced by foreign currency effects, onetime effects and investments in personnel resources
- EPS adjusted for foreign currency effects slightly below record level of previous half year

Advanced Inflight Alliance AG (ISIN DE0001262186, WKN 126218, located at Schellingstr. 35, 80799 Munich) releases preliminary financial figures for the first half year 2010.

In the first half year 2010 the operational business of Advanced Inflight Alliance Group developed within the expectations of management. The reported revenues are at TEUR 54,163 (Previous Half Year: TEUR 57,806). In course of the preparation of the half year financial report 2010 a revenue shift in favour of 2009 at one of the subsidiaries was identified, which had almost no effect on earnings. Without this revenue shift the revenues of the first half year 2010 would have been TEUR 55,051 compared to TEUR 56,619 in the previous period. This reflects a decrease in revenues of approximately 3 percent, which mainly was caused by the deliberate discontinuation of profit neutral revenues as well as the loss of customers.

Due to the Euro crisis the earnings of Advanced Inflight Alliance Group in the first half year 2010 were heavily influenced by foreign currency effects. The reported foreign currency losses of TEUR 1,237 are to a material extend unrealized book losses in connection with group internal transactions, which already were reduced due to the recovery of the Euro especially against the US-Dollar in the second half of 2010. Furthermore the earnings in the first half year 2010 are influenced by onetime expenses in connection with the change of the board of directors as well as higher expenses in connection with the implementation of a new accounting and consolidation software of in total about TEUR 500.

Compared to the previous half year the company substantially invested in building up personnel resources for the expansion into new strategic business areas within and outside Inflight Entertainment. In this context the number of employees was increased by approximately 19 percent. The corresponding personnel expenses increased by TEUR 1,631 or 18 percent from TEUR 8,974 to TEUR 10,605.

The following comparable figures for the first half year 2009 were adjusted for provisions for bonuses at the value of TEUR 245, which originally were not made pro rata in 2009.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for reported foreign currency effects for the first half year 2010 were TEUR 5,896 (Previous half year: TEUR 6,486; EBITDA after foreign currency effects 1. HY 2010: TEUR 4,658 compared to TEUR 6,250 in the 1. HY 2009).

The earnings before interest and taxes (EBIT) adjusted for foreign currency effects for the first half year 2010 were TEUR 4,141 compared to TEUR 4,498 in the previous half year (EBIT after foreign currency effects 1. HY 2010: TEUR 2,903 compared to TEUR 4,262 in the 1. HY 2009).

The net income adjusted for foreign currency effects in the first half year 2010 was TEUR 3,139 compared to TEUR 3,329 in the previous half year (Net income after foreign currency effects 1. HY 2010: TEUR 2,310 compared to TEUR 3,171 in the 1. HY 2009).

The reported earnings per share (EPS) adjusted for foreign currency effects were 0.22 Euro and were was slightly below the figure of the previous half year of 0.23 Euro (EPS after foreign currency effects: 0.16 Euro compared to 0.22 Euro in the previous half year).

The final financial figures for the first half year 2010 can vary slightly from the today reported preliminary figures. The complete half year financial report 2010 will be available on the internet page www.advanced-inflight-alliance.com on 31st August 2010.
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The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.