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    AEGN   GRS495003006

AEGEAN AIRLINES S.A.

(AEGN)
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Aegean Airlines posts first quarterly profit since pandemic struck

11/24/2021 | 04:46am EST
FILE PHOTO: An Aegean Airlines Airbus A320neo parked at Eleftherios Venizelos International Airport in Athens

ATHENS (Reuters) - Greece's largest carrier Aegean Airlines swung to a third-quarter profit as passenger traffic recovered from pandemic travel restrictions and resurgent tourist arrivals.

Aegean said net profit reached 51.3 million euros ($57.67 million) in the three months to Sept. 30, compared with a loss of 28.4 million euros in the same period last year.

Sales rose 115% to 333.9 million euros.

Chief Executive Dimitris Gerogiannis said that the third quarter was its first profitable quarter since the coronavirus crisis started in early 2020.

"We have adapted the programme flexibly, responding to opportunities from major markets such as Germany, France, Belgium, the Netherlands and Austria," he added.

The airline flew 3.3 million passengers in the quarter, up 70% from the same period last year.

The company's cash reserves at the end of September were unchanged from the end of the previous quarter at 543.5 million euros.

($1 = 0.8896 euros)

(Reporting by Lefteris Papadimas; Editing by David Goodman)


ę Reuters 2021
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Financials
Sales 2021 641 M 731 M 731 M
Net income 2021 60,0 M 68,4 M 68,4 M
Net Debt 2021 283 M 322 M 322 M
P/E ratio 2021 13,5x
Yield 2021 -
Capitalization 473 M 541 M 540 M
EV / Sales 2021 1,18x
EV / Sales 2022 0,89x
Nbr of Employees 2 699
Free-Float 38,0%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 5,25 €
Average target price 7,03 €
Spread / Average Target 33,8%
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Managers and Directors
Dimitrios Christodoulou Gerogiannis CEO, Executive Director & Managing Director
Michael Kouveliotis Chief Financial Officer
Eftichios Theodorou Vassilakis Executive Chairman
Konstantinos Alexandrou Kalamatas Independent Non-Executive Director
Natalia Nikolaidis Independent Non-Executive Director