SAO PAULO, May 10, 2017 /PRNewswire/ -- GOL Linhas
Aereas Inteligentes S.A. ("GOL"), (NYSE: GOL and B3: GOLL4),
Brazil's #1 airline, announces
today its consolidated results for the first quarter (1Q17). All
information is presented in accordance with International Financial
Reporting Standards (IFRS) and in Brazilian Reals (R$), and all
comparisons are with the first quarter of 2016 unless otherwise
stated.
Operating and Financial Highlights
- Net income after minority interest for the quarter was
R$160.4 million (US$51.3 million), representing a 6.1% net margin.
Earnings per share (EPS) after minority interest were R$0.46 and earnings per ADS after minority
interest were US$0.007. Gross
Revenue in 1Q17 was R$2.8
billion.
- Operating result (EBIT) in 1Q17 was R$253.2 million, representing an EBIT margin of
9.6%. Adjusted operating result excluding non-recurring
expenses was R$345.4 million,
representing a margin of 13.1%.
- Net cash flow in 1Q17 was negative R$175.1 million. Cash, cash equivalents,
short-term investments and accounts receivable totaled R$1,517.2 million.
- Excluding non-recurring expenses in 1Q17, total adjusted CASK
was 19.14 cents (R$). Total adjusted
CASK in the quarter decreased 5.6% when compared to the adjusted
CASK in 1Q16. In 1Q17, total CASK increased by 7.4%, to
19.91 cents (R$), and total operating
expenses increased by 5.3%, to R$2,392.8
million. Total cost in 1Q16 was lower due to gains on
sale-leaseback operations in that quarter.
- Adjusted CASK ex-fuel, excluding non-operating expenses,
decreased 7.6% to 13.02 cents (R$).
CASK ex-fuel increased 11.6%, achieving 13.79 cents (R$).
- RPKs increased 0.7% from 9,497 million in 1Q16 to 9,561 million
in 1Q17.
- ASKs decreased by 2% from 12,262 million in 1Q16 to 12,019
million in 1Q17. Average load factor increased 2.1 percentage
points to 79.6% and average passenger yields decreased 6.5% to
24.02 cents (R$), resulting in RASK
of 22.01 cents (R$), a 0.5% reduction
versus 1Q16. Average fares were R$279.7, a 2.6% increase in comparison with the
average fares in the 1Q16 (R$272.5).
- Net revenues reached R$2.6
billion, representing a reduction of 2.5%. Revenue per
aircraft was R$23.1 million
(US$7.3 million). Ancillary and cargo
revenues increased by 27% quarter over quarter to R$349.2 million, which represents 13.2% of net
revenues and an increase of 3.1 percentage points over 1Q16.
- GOL transported a total of 8.2 million passengers in 1Q17, an
8.3% decrease over 1Q16. GOL's market share of the domestic and
international regular air transportation at the end of 1Q17 was
35.0% and 11.7%. Such shares were 32.6% and 13.5% at the end of
1Q16.
- On-time departures and flight completion were, respectively,
94.6% and 98.8% (ANAC data) during 1Q17. Passenger complaints and
lost baggage per 1,000 passengers achieved 1.43 and 2.17,
respectively.
- Total adjusted net debt, excluding aircraft in return and the
perpetual notes, reduced by R$918
million during 1T17 to R$10.8
billion. The ratio of net adjusted debt to annualized
EBITDAR, proforma for aircraft in return, was 4.6x at March 31, 2017.
- GOL's ADRs had an average daily trading volume of US$4.5 million during 1Q17, as compared to
US$1.4 million in 1Q16. GOL's
preferred shares (PN) had an average daily trading volume of
R$27.7 million during 1Q17, as
compared to R$10.3 million in
1Q16.
For further information visit
www.voegol.com.br/ir
CONTACTS
INVESTOR RELATIONS
Phone: +55 (11) 2128-4700
E-mail: ri@golnaweb.com.br
About GOL Linhas Aereas Inteligentes S.A. ("GOL")
Brazil's largest air
transportation and travel services group with three main
businesses: passenger transportation, cargo transportation and
coalition loyalty program. GOL is Brazil's largest airline, carrying 33mm p.a.
on more than 700 daily flights to 63 destinations in Brazil and 11 destinations in South America and the Caribbean on a fleet of over 120 Boeing 737
aircraft, with a further 120 Boeing 737s on order.
GOLLOG is a leading cargo transportation and
logistics business serving more than 3,000 Brazilian municipalities
and, through partners, 90 international destinations in 47
countries. SMILES is one of the largest coalition
loyalty programs in Latin America,
with over 11 million registered participants, allowing clients to
accumulate miles and redeem tickets for more than 700 locations
worldwide. GOL has a team of more than 15,000 highly skilled
aviation professionals delivering Brazil's top on-time performance, and an
industry leading 16 year safety record. GOL's shares are
traded on the NYSE (GOL) and the B3 (GOLL4).
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SOURCE GOL Linhas Aereas Inteligentes S.A.