--------------------------------------------------------------ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.--------------------------------------------------------------
9-month report/Q3-figures 2009
17.11.2009
Ad-Hoc Release pursuant to Sec. 15 Securities Trading Act (WpHG)
London, 17 November 2009 - In the third quarter of 2009, the consolidated total revenue of Air Berlin PLC decreased by 8.2 per cent to EUR 974.0 m due to planned capacity reductions in connection with the efficiency program, as compared to EUR 1,061.4 m in the third quarter of the previous year. EBITDAR reached EUR 228.7 m in this reporting quarter as compared to EUR 209.0 m in the previous year. EBIT increased by 33.5 per cent to EUR 118.0 m as compared to EUR 88.4 m in the prior year. The financial result has been affected by proceeds from payments on a convertible bond amounting to approximately EUR 20 m. Additionally, foreign exchange losses were lower than in 2008, so that the financial result improved from EUR -15 m in 2008 to EUR 3.2 m. The Group achieved a net profit in the third quarter 2009 of EUR 95.2 m compared to EUR 45.1 m in the third quarter of 2008. Last year's figures have been restated in line with valuation changes under IFRIC 13 ("Customer Loyalty Programmes").
Despite the remaining risks with respect to the economic environment and the development of the economy, Air Berlin confirms its previous forecast that it will achieve a better operating result than in 2008.
Air Berlin will publish detailed information on the third quarter results as well as the complete interim report as of 30 September 2009 on 19 November starting from 7:30 a.m. (CET) on the Internet at ir.airberlin.com.
Air Berlin PLC The Hour House 32 High Street Rickmansworth WD3 1ER Hertfordshire Great Britain WKN AB1000 (Share) Frankfurter Wertpapierbörse (Regulated Market, Prime Standard) WKN A0NQ9H (Convertible Bond 2007) Euro MTF Market on the Luxembourg Stock Exchange WKN A1A LH0 (Convertible Bond 2009) Freiverkehr on the Frankfurt Stock Exchange
end of announcement euro adhoc--------------------------------------------------------------
Further inquiry note:
Ingolf Hegner
Head of Investor Relations
+49 (0)30 3434 1532
ihegner@airberlin.com
Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: SDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Hunold: More than pleased with the profit, Increased revenue per passenger and per seat kilometer
--------------------------------------------------------------Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.--------------------------------------------------------------
9-month report/Q3-figures 2009
Subtitle: Hunold: More than pleased with the profit, Increased revenue per passenger and per seat kilometer
London/Berlin (euro adhoc) - In the third quarter of 2009, Air Berlin PLC increased its net profit to EUR 95.2 million, i.e. an increase of 111 percent over the previous year's quarter. Despite a challenging economic environment, operating profit improved by 33.5 percent to EUR 118 million. Revenue decreased by 8.2 percent to EUR 974 million, due to targeted capacity adjustments based on lower demand. As Joachim Hunold, CEO of Air Berlin, stated: "Air Berlin is one of the few airline companies that was able to improve profit in the third quarter of 2009."
The "Jump" efficiency improvement program introduced in 2008 and consistently adhered to in 2009 contributed significantly to the good results obtained in the third quarter. Although the number of passengers transported decreased slightly to 8.3 million (-4.1 percent) as a result of the financial and economic crisis, Air Berlin's capacity adjustments enabled the company to counter the effects of this decrease and show a good performance. This is all the more remarkable in that the third quarter results were burdened by three days of strike. Furthermore, the bomb attack on the island of Majorca in July and the discussion surrounding the swine flu temporarily dampened demand for this destination.
Revenue per passenger kilometer increased from 7.65 to 8.24 Eurocents, i.e. an increase of 7.7 percent. EBITDAR (Earnings before interest, taxes, depreciation, amortization and leasing expenses) for the quarter under review reached EUR 228.7 million (Q3/2008: EUR 209 million). EBIT (Earnings before interest and taxes) increased by 33.5 percent to EUR 118 million (Q3/2008: EUR 88.4 million). The financial results have been affected by proceeds from payments on a convertible bond, amounting to approximately EUR 20 million. Furthermore, foreign exchange losses were lower than in 2008. As a result, the financial results significantly improved from EUR -15 million in 2008 to EUR 3.2 million. Net profit for the third quarter of 2009 reached EUR 95.2 million (Q3/2008: EUR 45.1 million). The previous year's figures have been restated in accordance with valuation changes under IFRIC 13 ("Customer Loyalty Programmes").
The accumulated earnings for the first nine months of 2009 developed in a positive manner. For the period from January to September 2009, EBITDAR increased by 2.6 percent to EUR 390.7 million. At the end of the third quarter 2009, EBIT improved by 49.4 percent to EUR 48.3 million. The decrease in leasing expenses is one of the reasons for this improvement. Whereas net profit for the first nine months of 2008 amounted to EUR -7.1 million, net profit rose to EUR 13.8 million (+294 percent) for the 2009 period under review. For the first nine months of 2009, the number of passengers welcomed on board decreased by 5.1 percent to 21 million. Capacity utilization decreased by 1.3 percentage points to 77.9 percent, due to the capacity adjustment.
In the first nine months of 2009, Air Berlin's balance sheet structure improved in a sustainable manner. Equity increased from 15 to 22 percent and liquidity improved from 11 to 18 percent. The improvement in liquidity stems from operations as well as from the implemented capital measures. The capital increase, the placement of a new convertible bond and the partial redemption of an existing convertible bond have resulted in a considerable decrease in net indebtedness. From the beginning of January to the end of September 2009, net indebtedness decreased from EUR 762 million to EUR 548 million. Thus, the promise to lower net indebtedness to EUR 600 million by the end of the year has already been more than fulfilled.
On the occasion of the presentation of the quarterly figures, Joachim Hunold, CEO of Air Berlin, stated in Berlin on Thursday: "We are more than pleased with the results. Despite the generally difficult economic environment, we have delivered attractive figures to our shareholders. We continue to expect a positive operating income for 2009." Nevertheless, it is still too early to make a forecast for the year 2010, due to the persistently challenging economic situation.
end of announcement euro adhoc--------------------------------------------------------------
Further inquiry note:
Hans-Christoph Noack
Director of Corporate Communications, Air Berlin
phone: +49 30 3434 1500
fax: +49 30 3434 1509
e-mail: abpresse@airberlin.com
Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: SDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Germany´s second largest airline Air Berlin has signed an agreement with Lufthansa Technik AG to provide comprehensive component support for its entire fleet. Under the Total Component Support TCS® contract, which has already taken effect, the Hamburg-based company will manage supply of components for Air Berlin Group?s Boeing 737´s, its Airbus A320 and A330 family aircraft and its Bombardier Q400´s.
Air Berlin will receive on-site service at its Berlin and Düsseldorf hubs from a team of locally deployed experts. The airline will also have access to Lufthansa Technik´s central material warehouses in Hamburg and Frankfurt and the wide range of repair services provided by the two sites. A global express service is offered for about 2,000 different types of electronic, hydraulic, or pneumatic components in the event of "Aircraft on Ground" (AOG).
A large part of Air Berlin´s spare parts inventory has been transferred to Lufthansa Technik. To keep flight operations running smoothly, stocks of the most frequently required components are also being held in Air Berlin´s own decentralized storage facilities. A logistics concept tailored to Air Berlin Group´s specific needs has also been developed.
Commenting on the contract, Wolfgang Kurth, Chief Maintenance Officer at Air Berlin, said, "With the conclusion of this contract, the Air Berlin Group has succeeded in finding an extremely reliable partner that offers a product tailored to the needs of our fleet. The Air Berlin Group will now be able to optimize its repair costs by taking advantage of the benefits of scale offered by Lufthansa Technik. As well as permanently cutting our working capital requirements, the arrangement will also significantly reduce the inventory of spare parts that we have to maintain in the future."
August Wilhelm Henningsen, Chairman of the Executive Board of Lufthansa Technik AG, said, "This comprehensive contract with Air Berlin Group underscores our successful strategy of offering flexible products tailored to the individual needs of our partners, the airlines. Our Total Component Support package has been successfully established on the world market for many years, so Air Berlin Group can depend on reliable technical services of the highest quality for its large fleet."
Today worldwide over 700 customers trust in Lufthansa Technik´s services.
Air Berlin Group
Air Berlin is the second largest airline in Germany. Since May 2006 the Group has been listed on the stock exchange. Last year Air Berlin carried a total of 28.6 million passengers worldwide. The company employs a workforce of around 8,200. In 2008 alone Air Berlin won more than 10 awards for service and quality. With an average aircraft age of only 4.6 years, Air Berlin has one of the youngest fleets in Europe. Its modern, fuel-efficient jets are playing their part in permanently reducing emissions of pollutants in air transport.
Lufthansa Technik
With over 30 subsidiaries and affiliated companies and more than 26,000 staff worldwide, the Lufthansa Technik Group is one of the world?s leading independent providers of aircraftrelated technical services. In 2008 the company achieved total sales of 3.7 billion euro. Lufthansa Technik´s portfolio covers the entire service spectrum of maintenance, repair, overhaul, modification and conversion, engines and components for passenger aircraft.
Press Contact:
Nadine Bernhardt
Air Berlin Press Officer
phone: +49 30 3434 1516
fax: +49 30 3434 1509
e-mail: nbernhardt@airberlin.com
| in million euros | Q1 2009 | Q2 2009 | Q3 2009 | 9M 2009 |
| Revenue | 661.2 | 836.2 | 974.0 | 2,471.0 |
| EBITDAR | 27.1 | 134.9 | 228.7 | 390.7 |
| EBIT | -87.3 | 17.6 | 118.0 | 48.3 |
| Net Profit | -88.4 | 7.1 | 95.2 | 13.8 |


