Ural Airlines’ RAS net profit soars to 2 bln rbl in 2019

YEKATERINBURG, Apr 9 (PRIME) -- The net profit of Russia’s Ural Airlines soared to 2.092 billion rubles in 2019 from 385.924 million rubles in 2018, as calculated under Russian Accounting Standards (RAS), the airline said in a statement on Thursday.

Revenue increased by 8.8% on the year to 88.48 billion rubles in 2019, while the cost of sales grew 7.2% to 81.364 billion rubles.

Gross profit went up 31.2% to 7.117 billion rubles, while the sales profit jumped to 1.443 billion rubles from 40.248 million rubles.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to 4.03 billion rubles from 1.499 billion rubles.

Disruptions in supplies of Airbus Neo aircraft and suspension of flights of Boeing 737 MAX planes weakened the company’s financial results, Ural Airlines said.

The company’s accounts receivable increased in 2019 to 8.758 billion rubles as of the end of the year, while accounts payable rose to 9.958 billion rubles from 9.41 billion rubles.

(75.7499 rubles – U.S. $1)

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