ADVANCED INFLIGHT ALLIANCE AG 
By
- Consolidated Group revenues up by 6 percent to EUR 89.1
million
- Earnings in the third quarter of 2011 impacted by one-time
restructuring charges but will lead to substantial cost
reductions in 2012
- Adjusted pre-tax profit up by 12 percent to EUR 7.3
million
- Adjusted earnings per share of EUR 0.34 on a par with the
previous year
2011:
In the third quarter of 2011, the AIA Group launched its
group-wide campaign aimed at optimizing both its
organizational structure and costs. The implementation of the
respective measures will be largely completed by December 31,
2011. Substantially lowering the number of employees and
simplifying the Group's overall organizational structure are
the key components of these measures. By the end of the 2011
financial year, the AIA Group will have reduced its existing
workforce by about 20 percent from the level as of June 30,
2011. The AIA Group incurred EUR 3.2 million in aggregated
one-time charges for the third quarter of 2011 in connection
with the launch of its extensive restructuring measures.
Fully EUR 1.8 million of these one-time charges are related
to the severance package for the Company's former Chairman of
the Management Board. All restructuring expenses will
constitute one-time charges in
2011; in 2012, they will lead to cost savings in the mid
single digit millions.
The figures for the first nine months of 2011 also contain
EUR 0.5 million one-time charges in the form of transaction
costs for the June 2011 acquisitions.
Adjusted for the one-time charges, the AIA Group performed
well during the first nine months of 2011. Consolidated Group
revenues for the first nine months of 2011 climbed year on
year from EUR 84.3 million by about 6 percent to EUR 89.1
million.
Earnings before interest, taxes, depreciation and
amortization (EBITDA) rose from EUR 9 million by 11 percent
to EUR 10 million during the reporting period despite the
one-time charges. Adjusted for the total one-time charges,
EBITDA increased from EUR 9.6 million by more than 43 percent
to EUR 13.7 million in the first nine months of 2011. EBITDA
for the first nine months of 2011 contains foreign currency
gains of EUR 121 thousand, compared to foreign currency
losses of EUR 197 thousand in the first nine months of 2010.
As a result, EBITDA adjusted for both the one-time charges
and the foreign currency effects was EUR 13.6 million in the
aggregate, compared to EUR 9.8 million in the same period of
the previous year.
Due to the one-time charges earnings before interest and
taxes (EBIT) fell from EUR
6.2 million in the first nine months of 2010 to EUR 4.2
million in the first nine months of 2011. EBIT adjusted for
both the one-time charges and the foreign currency
effects
rose from EUR 7.0 million in the first nine months of 2010 by
10 percent to EUR 7.7
million in the first nine months of 2011.
For more information, please contact: Advanced Inflight Alliance AG
Schellingstrasse 35 | 80799 Munich | Tel.: +49 (0)89 613805-0 | Fax: +49 (0)89 613805-55 | info@aialliance.com | www.advanced-inflight- alliance.com
Given the one-time charges, the Advanced Inflight Alliance
Group has posted earnings before taxes (EBT) of EUR 3.8
million, down from EUR 5.8 million the previous year.
Adjusted for both the one-time charges and the foreign
currency effects, EBT for the first nine months of 2011 was
EUR 7.3 million. This corresponds to an increase of 12
percent over the EBT of EUR 6.5 million in the same period of
the previous year.
At EUR 2.7 million, net profit for the first nine months of
2011 was down from the previous year's EUR 4.4 million due to
the one-time charges. Adjusted for both the one-time charges
and the foreign currency effects, EBT in the first nine
months of
2011 rose from EUR 5 million to EUR 5.3 million.
Earnings per share (EPS) pursuant to IFRS for the first nine
months of 2011 were EUR
0.18, compared to EUR 0.30 for the first nine months of 2010.
(Adjusted for both the one-time charges and the foreign
currency effects, earnings per share were EUR 0.34 for the
first nine months of 2011, compared to EUR 0.34 in the first
nine months of
2010.)
The final figures for the first nine months of 2011 may
deviate from the preliminary figures announced today. The
complete interim report for the first nine months of
2011 will be available at www.advanced-inflight-alliance.com
from November 17,
2011.
Advanced Inflight Alliance AG
The Executive Management Board
For more information, please contact: Advanced Inflight Alliance AG
Schellingstrasse 35 | 80799 Munich | Tel.: +49 (0)89 613805-0 | Fax: +49 (0)89 613805-55 | info@aialliance.com | www.advanced-inflight- alliance.com
