SAO PAULO, Jan. 10, 2018 /PRNewswire/ -- GOL Linhas
Aereas Inteligentes S.A. (NYSE: GOL and B3: GOLL4),
Brazil's #1 airline, provides its
Investor Update. The information below for the quarter ended
in December 2017 is preliminary and
unaudited.
Overall
Commentary
|
- GOL expects an
operating margin for the quarter ended in December of
13.2%-14.2%, an increase of approximately 1.0 p.p. over the
quarter ended in December 2016 (12.8%), excluding non-recurring
expenses.
- Passenger unit
revenue (PRASK) for the fourth quarter are expected to be up
7.0%-7.5% year over year, as GOL's capacity discipline and
revenue management strategies continue to benefit results. For the
quarter ended in December, GOL expects unit revenue (RASK) to
increase 7.0%-7.5%.
- Non-fuel unit costs
(CASK ex-fuel), excluding non-recurring expenses, are expected to
increase by approximately 1.0% in relation to the third quarter
2017, and are expected to increase approximately 1.6% versus same
quarter of the prior year.
- GOL reduced its
financial leverage, as measured by the Net Debt¹/LTM EBITDA ratio,
to approximately 3.0x at the end of the December 2017
quarter.
|
Preliminary and
Unaudited Projection
|
EBITDA Margin
(excluding non-recurring)
EBIT Margin
(excluding non-recurring)
Ancillary Revenue
(cargo and other)
Aircraft
Rent
Average fuel price
per liter
Average exchange
rate
Non-recurring
expenses
Passenger unit
revenue (PRASK)
CASK Ex-fuel
(excluding non-recurring expenses)
Capacity –
ASK
Capacity –
Seats
|
December Quarter
2017
17.5%-18.5%
13.2%-14.2%
12.0% -12.2%
of total net revenues
~ R$230
million
R$2.25-R$2.28
R$3.20
R$30-35
million
December Quarter
2017
vs. December
Quarter 2016
Up
7.0%-7.5%
Up ~1.6%
Up ~3%
Up ~2%
|
1 - Excluding perpetual notes.
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aereas Inteligentes S.A.
Brazil's largest airline group.
GOL is Brazil's
largest airline, carrying 33 million passengers annually on more
than 700 daily flights to 64 destinations, 53 in Brazil and 11 in South America and the Caribbean, on a fleet of 120 Boeing 737
aircraft, with a further 120 Boeing 737 MAX on order.
GOLLOG is a leading cargo transportation and
logistics business serving more than 2,400 Brazilian municipalities
and, through partners, 205 international destinations in 95
countries. SMILES is one of the largest coalition
loyalty programs in Latin America,
with 13 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).
Disclaimer
This release contains forward-looking statements relating to the
prospects of the business, estimates for operating and financial
results, and those related to growth prospects of GOL. These are
merely projections and, as such, are based exclusively on the
expectations of GOL's management. Such forward-looking statements
depend, substantially, on external factors, in addition to the
risks disclosed in GOL's filed disclosure documents and are,
therefore, subject to change without prior notice. The Company's
non-financial information was not reviewed by the independent
auditors.
Non-GAAP Measures
To be consistent with industry practice, we disclose so-called
non-GAAP financial measures which are not recognized under IFRS or
U.S. GAAP, including "Net Debt", "Adjusted Net Debt", "total
liquidity", "EBITDA" and "EBITDAR". Our management believes that
disclosure of non-GAAP measures provides useful information to
investors, financial analysts and the public in their review of our
operating performance and their comparison of our operating
performance to the operating performance of other companies in the
same industry and other industries. However, these non-GAAP items
do not have standardized meanings and may not be directly
comparable to similarly-titled items adopted by other companies.
Potential investors should not rely on information not recognized
under IFRS as a substitute for the GAAP measures of earnings or
liquidity in making an investment decision.
View original
content:http://www.prnewswire.com/news-releases/gol-announces-material-fact----investor-update-300580648.html
SOURCE GOL Linhas Aereas Inteligentes S.A.