MEXICO CITY--(BUSINESS WIRE)--
Volaris* (NYSE: VLRS and BMV: VOLAR), the ultra-low-cost airline serving Mexico, the United States and Central America, today announced its financial results for the third quarter 2016.
The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS).
Third Quarter 2016 Highlights
- Total operating revenues reached Ps.6,731 million for the third quarter, an increase of 29.0% year over year.
- Non-ticket revenues were Ps.1,525 million for the third quarter, an increase of 43.4% year over year. Non-ticket revenues per passenger for the third quarter were Ps.384, increasing 20.6% year over year.
- Total operating revenues per available seat mile (TRASM) rose to Ps.155.0 cents for the third quarter, an increase of 15.3% year over year.
- Operating expenses per available seat mile (CASM) were Ps.131.0 cents for the third quarter, an increase of 22.9% year over year.
- Adjusted EBITDAR was Ps.2,665 million for the third quarter, an increase of 25.6% year over year. Adjusted EBITDAR margin was 39.6% for the third quarter, a decrease in margin of 1.0 percentage point.
- Operating income was Ps.1,043 million for the third quarter, with an operating margin of 15.5%, equal to a year over year operating margin decrease of 5.2 percentage points.
- Net income was Ps.1,010 million (Ps.1.00 per share / US$0.51 per ADS) for the third quarter, with a net margin of 15.0%, a year over year margin decrease of 7.1 percentage points.
- Net increase of cash and cash equivalents was Ps.63 million for the third quarter. As of September 30, 2016, cash and cash equivalents were Ps.6,993 million.
Volaris´ CEO Enrique Beltranena commented: “Volaris delivered another solid quarterly financial performance, driven by its ULCC model and a world-class operation. Passenger demand stimulation and non-ticket revenue growth remain the cornerstone of our business model, allowing us to expand unit revenue and deploy capacity in a profitable way.”
Traffic Volume Growth Supported by Healthy Demand Environment, Despite Exchange Rate and Fuel Price Pressures
- Air traffic volume increase: The Mexican DGAC reported overall passenger volume growth for Mexican carriers of 13.2% year over year in the third quarter. Domestic passenger volume increased 12.5%, while international passenger volume increased 15.6%.
- Exchange rate volatility: The Mexican peso depreciated 14.1% year over year against the US dollar, from an average of Ps.16.4 pesos per US dollar in the third quarter 2015 to Ps.18.7 pesos per US dollar during the third quarter 2016.
- Higher fuel prices: The average economic fuel cost per gallon increased 7.8% to Ps.30.8 per gallon (US$1.6) in the third quarter 2016, year over year.
Unit Revenue Improvements Driven by Volume and Non-Ticket Revenue Expansion
- Passenger traffic stimulation: Volaris booked 4.0 million passengers in the third quarter of 2016, up 18.9% year over year. Volaris traffic (measured in terms of revenue passenger miles, or RPMs) increased 18.3% for the same period. System load factor during the quarter increased 4.8 percentage points year over year to 87.9%.
- Unit revenue improvement and demand driven capacity growth: For the third quarter of 2016, TRASM increased 15.3%, with yield increasing 5.8%, year over year. During the third quarter, in terms of ASMs, domestic capacity grew 9.8%, while international capacity increased 16.5% responding to a strong demand from both markets.
- Non-ticket revenues growth: Non-ticket revenues and non-ticket revenues per passenger increased 43.4% and 20.6% year over year for the third quarter of 2016, respectively. The Company has been increasing its product offering, such as insurance services, as well as expanding the offering of commission based products on mobile, while continuing with its dynamic pricing strategy.
- New routes: In the third quarter 2016, Volaris launched five new international routes (Dallas-Monterrey, Durango-Los Angeles, Guadalajara-Seattle, Guadalajara-San Francisco and Austin-Guadalajara).
Unit Cost Pressured by Exchange Rate Volatility
In the third quarter 2016, Volaris continued to experience pressure in US-dollar denominated costs, such as aircraft and engine rent expenses, international airport costs, and maintenance expenses due to the depreciation of the Mexican peso. The CASM for the third quarter was Ps.131.0 cents, a 22.9% increase compared to the third quarter 2015, mainly driven by FX and fuel price pressures.
Young and Fuel Efficient Fleet, Up-gauging/Increasing Seats Per Aircraft
During the third quarter 2016, the Company incorporated three additional aircraft comprised of one A320neo and two A321s. As of September 30, 2016, Volaris fleet was composed of 65 aircraft (16 A319s, 43 A320s and 6 A321s), with an average age of 4.5 years, resulting in the youngest fleet in Mexico and one of the youngest in the Americas. At the end of the third quarter 2016, Volaris’ fleet had an average of 174 seats per aircraft, an increase from 168 seats in the third quarter of 2015, and 53% of the fleet’s seats were in sharklet-equipped aircraft. During the quarter the Company also became the first NEO aricraft operator in North America.
Solid Balance Sheet and Good Liquidity
The net increase in cash and cash equivalents was equal to Ps.63 million during the third quarter. As of September 30, 2016, Volaris’ unrestricted cash and cash equivalents balance was Ps.6,993 million. Volaris registered negative net debt (or a positive net cash position) of Ps.6,001 million and total equity of Ps.9,633 million.
Active in Fuel Risk Management
Volaris remains active in its fuel risk management program. Volaris utilized call options to hedge 54% of its third quarter 2016 fuel consumption, at an average strike price of US $1.99 per gallon, which combined with the 46% unhedged consumption, resulted in a blended average economic fuel cost of US$1.6 per gallon.
Investors are urged to carefully read the Company's periodic reports filed with or furnished to the Securities and Exchange Commission, for additional information regarding the Company.
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Conference Call/Webcast Details: |
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Presenters for the Company:
Date: |
Mr. Enrique Beltranena, CEO Mr. Fernando Suárez, CFO
Wednesday, October 26, 2016 |
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| Time: | 10:00 am U.S. EDT (9:00 am Mexico City Time) | |||
| United States dial in (toll free): | 1-800-311-9408 | |||
| Mexico dial in (toll free): | 0-1-800-847-7666 | |||
| Brazil dial in (toll free): | 0800-282-5781 | |||
| International dial in: | +1-334-323-7224 | |||
| Participant entry number: | 83342 | |||
| Webcast will be available on our website: | ||||
About Volaris:
*Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris” or the “Company”) (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost carrier, with point-to-point operations, serving Mexico, the United States and Central America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since beginning operations in March 2006, Volaris has increased its routes from five to more than 159 and its fleet from four to 65 aircraft. Volaris offers more than 310 daily flight segments on routes that connect 40 cities in Mexico and 25 cities in the United States and Central America with the youngest fleet in Mexico. Volaris targets passengers who are visiting friends and relatives, cost-conscious business people and leisure travelers in Mexico and to select destinations in the United States and Central America. Volaris has received the ESR Award for Social Corporate Responsibility for seven consecutive years. For more information, please visit: www.volaris.com.
Forward-looking Statements:
Statements in this release contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words "expects," "estimates," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook," "may," "will," "should," "seeks," "targets" and similar expressions are intended to identify forward-looking statements. Similarly, statements that describe the Company's objectives, plans or goals, or actions the Company may take in the future, are forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Company's intentions and expectations regarding the delivery schedule of aircraft on order, announced new service routes and customer savings programs. All forward-looking statements in this release are based upon information available to the Company on the date of this release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to a number of factors that could cause the Company's actual results to differ materially from the Company's expectations, including the competitive environment in the airline industry; the Company's ability to keep costs low; changes in fuel costs; the impact of worldwide economic conditions on customer travel behavior; the Company's ability to generate non-ticket revenues; and government regulation. Additional information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings.
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Financial and Operating Indicators |
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Unaudited (In Mexican pesos, except otherwise indicated) |
Three months (US Dollars)* |
Three months |
Three months |
Variance |
|||||||||
| Total operating revenues (millions) | 345 | 6,731 | 5,220 | 29.0% | |||||||||
|
Total operating expenses (millions) |
292 | 5,688 | 4,140 | 37.4% | |||||||||
| EBIT (millions) | 53 | 1,043 | 1,080 | (3.4%) | |||||||||
| EBIT margin | 15.5% | 15.5% | 20.7% | (5.2) pp | |||||||||
| Adjusted EBITDA (millions) | 60 | 1,179 | 1,200 | (1.8%) | |||||||||
| Adjusted EBITDA margin | 17.5% | 17.5% | 23.0% | (5.5) pp | |||||||||
| Adjusted EBITDAR (millions) | 137 | 2,665 | 2,121 | 25.6% | |||||||||
| Adjusted EBITDAR margin | 39.6% | 39.6% | 40.6% | (1.0) pp | |||||||||
| Net income (millions) | 52 | 1,010 | 1,152 | (12.4%) | |||||||||
| Net income margin | 15.0% | 15.0% | 22.1% | (7.1) pp | |||||||||
| Earnings per share: | |||||||||||||
| Basic (pesos) | 0.05 | 1.00 | 1.14 | (12.4%) | |||||||||
| Diluted (pesos) | 0.05 | 1.00 | 1.14 | (12.4%) | |||||||||
| Earnings per ADS: | |||||||||||||
| Basic (pesos) | 0.51 | 9.98 | 11.38 | (12.4%) | |||||||||
| Diluted (pesos) | 0.51 | 9.98 | 11.38 | (12.4%) | |||||||||
| Weighted average shares outstanding: | |||||||||||||
| Basic | - | 1,011,876,677 | 1,011,876,677 | 0.0% | |||||||||
| Diluted | - | 1,011,876,677 | 1,011,876,677 | 0.0% | |||||||||
|
Available seat miles (ASMs) (millions)(1) |
- | 4,342 | 3,883 | 11.8% | |||||||||
| Domestic | - | 2,963 | 2,699 | 9.8% | |||||||||
| International | - | 1,380 | 1,184 | 16.5% | |||||||||
|
Revenue passenger miles (RPMs) (millions)(1) |
- | 3,818 | 3,226 | 18.3% | |||||||||
| Domestic | - | 2,634 | 2,242 | 17.5% | |||||||||
| International | - | 1,183 | 984 | 20.3% | |||||||||
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Load factor(2) |
- | 87.9% | 83.1% | 4.8 pp | |||||||||
| Domestic | - | 88.9% | 83.1% | 5.8 pp | |||||||||
| International | - | 85.8% | 83.0% | 2.8 pp | |||||||||
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Total operating revenue per ASM (TRASM) (cents)(1) |
7.9 | 155.0 | 134.4 | 15.3% | |||||||||
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Passenger revenue per ASM (RASM) (cents)(1) |
6.1 | 119.9 | 107.0 | 12.0% | |||||||||
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Passenger revenue per RPM (Yield) (cents)(1) |
7.0 | 136.4 | 128.8 | 5.8% | |||||||||
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Average fare(2) |
67.5 | 1,316 | 1,247 | 5.5% | |||||||||
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Non-ticket revenue per passenger (1) |
19.7 | 384 | 319 | 20.6% | |||||||||
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Operating expenses per ASM (CASM) (cents)(1) |
6.7 | 131.0 | 106.6 | 22.9% | |||||||||
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Operating expenses per ASM (CASM) (US cents)(1) |
- | 6.7 | 6.3 | 7.1% | |||||||||
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CASM ex fuel (cents)(1) |
4.9 | 94.8 | 73.1 | 29.7% | |||||||||
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CASM ex fuel (US cents)(1) |
- | 4.9 | 4.3 | 13.1% | |||||||||
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Booked passengers (thousands)(1) |
- | 3,968 | 3,338 | 18.9% | |||||||||
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Departures(1) |
- | 26,181 | 24,087 | 8.7% | |||||||||
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Block hours(1) |
- | 69,509 | 62,878 | 10.5% | |||||||||
| Fuel gallons consumed (millions) | - | 51.0 | 45.5 | 12.1% | |||||||||
| Average economic fuel cost per gallon | 1.6 | 30.8 | 28.6 | 7.8% | |||||||||
| Aircraft at end of period | - | 65 | 55 | 18.2% | |||||||||
| Average aircraft utilization (block hours) | - | 13.0 | 13.1 | (0.9%) | |||||||||
| Average exchange rate | - | 18.72 | 16.40 | 14.1% | |||||||||
| End of period exchange rate | - | 19.50 | 17.01 | 14.7% | |||||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only | ||
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(1) Includes schedule + charter |
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(2) Includes schedule |
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Financial and Operating Indicators |
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Unaudited (In Mexican pesos, except otherwise indicated) |
Nine months (US Dollars)* |
Nine months |
Nine months |
Variance |
|||||||||
| Total operating revenues (millions) | 874 | 17,044 | 13,087 | 30.2% | |||||||||
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Total operating expenses (millions) |
758 | 14,777 | 11,312 | 30.6% | |||||||||
| EBIT (millions) | 116 | 2,267 | 1,775 | 27.7% | |||||||||
| EBIT margin | 13.3% | 13.3% | 13.6% | (0.3) pp | |||||||||
| Adjusted EBITDA (millions) | 136 | 2,661 | 2,124 | 25.3% | |||||||||
| Adjusted EBITDA margin | 15.6% | 15.6% | 16.2% | (0.6) pp | |||||||||
| Adjusted EBITDAR (millions) | 342 | 6,659 | 4,606 | 44.6% | |||||||||
| Adjusted EBITDAR margin | 39.1% | 39.1% | 35.2% | 3.9 pp | |||||||||
| Net income (millions) | 131 | 2,546 | 1,810 | 40.7% | |||||||||
| Net income margin | 14.9% | 14.9% | 13.8% | 1.1 pp | |||||||||
| Earnings per share: | |||||||||||||
| Basic (pesos) | 0.13 | 2.52 | 1.79 | 40.7% | |||||||||
| Diluted (pesos) | 0.13 | 2.52 | 1.79 | 40.7% | |||||||||
| Earnings per ADS: | |||||||||||||
| Basic (pesos) | 1.29 | 25.16 | 17.89 | 40.7% | |||||||||
| Diluted (pesos) | 1.29 | 25.16 | 17.89 | 40.7% | |||||||||
| Weighted average shares outstanding: | |||||||||||||
| Basic | - | 1,011,876,677 | 1,011,876,677 | 0.0% | |||||||||
| Diluted | - | 1,011,876,677 | 1,011,876,677 | 0.0% | |||||||||
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Available seat miles (ASMs) (millions)(1) |
- | 12,214 | 10,258 | 19.1% | |||||||||
| Domestic | - | 8,512 | 7,188 | 18.4% | |||||||||
| International | - | 3,703 | 3,070 | 20.6% | |||||||||
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Revenue passenger miles (RPMs) (millions)(1) |
- | 10,553 | 8,425 | 25.2% | |||||||||
| Domestic | - | 7,373 | 5,905 | 24.9% | |||||||||
| International | - | 3,179 | 2,520 | 26.2% | |||||||||
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Load factor(2) |
- | 86.4% | 82.1% | 4.3 pp | |||||||||
| Domestic | - | 86.6% | 82.1% | 4.5 pp | |||||||||
| International | - | 85.9% | 82.0% | 3.9 pp | |||||||||
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Total operating revenue per ASM (TRASM) (cents)(1) |
7.2 | 139.5 | 127.6 | 9.4% | |||||||||
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Passenger revenue per ASM (RASM) (cents)(1) |
5.4 | 105.8 | 99.4 | 6.4% | |||||||||
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Passenger revenue per RPM (Yield) (cents)(1) |
6.3 | 122.5 | 121.1 | 1.2% | |||||||||
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Average fare(2) |
60 | 1,175 | 1,171 | 0.3% | |||||||||
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Non-ticket revenue per passenger (1) |
19.1 | 373 | 331 | 12.8% | |||||||||
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Operating expenses per ASM (CASM) (cents)(1) |
6.2 | 121.0 | 110.3 | 9.7% | |||||||||
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Operating expenses per ASM (CASM) (US cents)(1) |
- | 6.2 | 6.5 | (4.3%) | |||||||||
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CASM ex fuel (cents)(1) |
4.5 | 88.7 | 75.5 | 17.4% | |||||||||
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CASM ex fuel (US cents)(1) |
- | 4.5 | 4.4 | 2.4% | |||||||||
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Booked passengers (thousands)(1) |
- | 11,038 | 8,730 | 26.4% | |||||||||
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Departures(1) |
- | 75,161 | 64,587 | 16.4% | |||||||||
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Block hours(1) |
- | 199,898 | 168,641 | 18.5% | |||||||||
| Fuel gallons consumed (millions) | - | 144.8 | 119.9 | 20.8% | |||||||||
| Average economic fuel cost per gallon | 1.4 | 27.3 | 29.7 | (8.3%) | |||||||||
| Aircraft at end of period | - | 65 | 55 | 18.2% | |||||||||
| Average aircraft utilization (block hours) | - | 12.9 | 12.6 | 2.3% | |||||||||
| Average exchange rate | - | 18.26 | 15.55 | 17.4% | |||||||||
| End of period exchange rate | - | 19.50 | 17.01 | 14.7% | |||||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. | ||||
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(1) Includes schedule + charter |
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(2) Includes schedule |
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Consolidated Statement of Operations |
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Unaudited (In millions of Mexican pesos) |
Three months (US Dollars)* |
Three months |
Three months |
Variance |
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| Operating revenues: | ||||||||||||
| Passenger | 267 | 5,206 | 4,156 | 25.3% | ||||||||
| Non-ticket | 78 | 1,525 | 1,063 | 43.4% | ||||||||
| 345 | 6,731 | 5,220 | 29.0% | |||||||||
| Other operating income | - | (1) | (82) | (99.3%) | ||||||||
| Fuel | 81 | 1,574 | 1,303 | 20.8% | ||||||||
| Aircraft and engine rent expense | 76 | 1,486 | 921 | 61.4% | ||||||||
| Landing, take-off and navigation expenses | 46 | 892 | 703 | 26.9% | ||||||||
| Salaries and benefits | 31 | 604 | 492 | 22.8% | ||||||||
| Sales, marketing and distribution expenses | 20 | 381 | 303 | 26.0% | ||||||||
| Maintenance expenses | 18 | 358 | 208 | 72.4% | ||||||||
| Other operating expenses | 13 | 257 | 172 | 49.1% | ||||||||
| Depreciation and amortization | 7 | 136 | 121 | 13.0% | ||||||||
| Operating expenses | 292 | 5,688 | 4,140 | 37.4% | ||||||||
| Operating income | 53 | 1,043 | 1,080 | (3.4%) | ||||||||
| Finance income | 1 | 27 | 15 | 80.1% | ||||||||
| Finance cost | - | (9) | (5) | 90.9% | ||||||||
| Exchange gain, net | 20 | 382 | 556 | (31.3%) | ||||||||
| Comprehensive financing result | 21 | 400 | 566 | (29.4%) | ||||||||
| Income before income tax | 74 | 1,443 | 1,646 | (12.3%) | ||||||||
| Income tax expense | (22) | (433) | (494) | (12.3%) | ||||||||
| Net income | 52 | 1,010 | 1,152 | (12.4%) | ||||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only. |
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Consolidated Statement of Operations |
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Unaudited (In millions of Mexican pesos) |
Nine months (US Dollars)* |
Nine months |
Nine months |
Variance |
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| Operating revenues: | ||||||||||||
| Passenger | 663 | 12,926 | 10,201 | 26.7% | ||||||||
| Non-ticket | 211 | 4,118 | 2,887 | 42.7% | ||||||||
| 874 | 17,044 | 13,087 | 30.2% | |||||||||
| Other operating income | (19) | (370) | (143) | >100% | ||||||||
| Aircraft and engine rent expense | 205 | 3,999 | 2,483 | 61.1% | ||||||||
| Fuel | 202 | 3,948 | 3,563 | 10.8% | ||||||||
| Landing, take-off and navigation expenses | 123 | 2,406 | 1,884 | 27.7% | ||||||||
| Salaries and benefits | 90 | 1,748 | 1,364 | 28.1% | ||||||||
| Maintenance expenses | 51 | 1,004 | 587 | 71.0% | ||||||||
| Sales, marketing and distribution expenses | 50 | 976 | 750 | 30.1% | ||||||||
| Other operating expenses | 35 | 673 | 476 | 41.3% | ||||||||
| Depreciation and amortization | 20 | 394 | 349 | 13.1% | ||||||||
| Operating expenses | 758 | 14,777 | 11,312 | 30.6% | ||||||||
| Operating income | 116 | 2,267 | 1,775 | 27.7% | ||||||||
| Finance income | 4 | 81 | 37 | >100% | ||||||||
| Finance cost | (1) | (24) | (15) | 64.8% | ||||||||
| Exchange gain, net | 67 | 1,315 | 789 | 66.7% | ||||||||
| Comprehensive financing result | 70 | 1,371 | 811 | 69.1% | ||||||||
| Income before income tax | 187 | 3,638 | 2,586 | 40.7% | ||||||||
| Income tax expense | (56) | (1,092) | (776) | 40.7% | ||||||||
| Net income | 131 | 2,546 | 1,810 | 40.7% | ||||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries
Adjusted EBITDAR Reconciliation
The Company is providing a reconciliation of GAAP financial information to non-GAAP financial information as it believes that non-GAAP financial measures provide management and investors the ability to measure the performance of the Company on a consistent basis. These non-GAAP financial measures have limitations as an analytical tool.
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Unaudited (In millions of Mexican pesos) |
Three months (US Dollars)* |
Three months |
Three months |
Variance |
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| Reconciliation: | ||||||||||||
| Net income | 52 | 1,010 | 1,152 | (12.4%) | ||||||||
| Plus (minus): | ||||||||||||
| Finance cost | - | 9 | 5 | 90.9% | ||||||||
| Finance income | (1) | (27) | (15) | 80.1% | ||||||||
| Provision for income tax | 22 | 433 | 494 | (12.3%) | ||||||||
| Depreciation and amortization | 7 | 136 | 121 | 13.0% | ||||||||
| EBITDA | 80 | 1,562 | 1,757 | (11.1%) | ||||||||
| Exchange (gain) loss, net | (20) | (382) | (556) | (31.3%) | ||||||||
| Adjusted EBITDA | 60 | 1,179 | 1,200 | (1.8%) | ||||||||
| Aircraft and engine rent expense | 76 | 1,486 | 921 | 61.4% | ||||||||
| Adjusted EBITDAR | 137 | 2,665 | 2,121 | 25.6% | ||||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
|
Unaudited (In millions of Mexican pesos) |
Nine months (US Dollars)* |
Nine months |
Nine months |
Variance |
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| Reconciliation: | ||||||||||||
| Net income | 131 | 2,546 | 1,810 | 40.7% | ||||||||
| Plus (minus): | ||||||||||||
| Finance cost | 1 | 24 | 15 | 64.8% | ||||||||
| Finance income | (4) | (81) | (37) | >100% | ||||||||
| Provision for income tax | 56 | 1,092 | 776 | 40.7% | ||||||||
| Depreciation and amortization | 20 | 394 | 349 | 13.1% | ||||||||
| EBITDA | 204 | 3,976 | 2,912 | 36.5% | ||||||||
| Exchange (gain) loss, net | (67) | (1,315) | (789) | 66.7% | ||||||||
| Adjusted EBITDA | 136 | 2,661 | 2,124 | 25.3% | ||||||||
| Aircraft and engine rent expense | 205 | 3,999 | 2,483 | 61.1% | ||||||||
| Adjusted EBITDAR | 342 | 6,659 | 4,606 | 44.6% | ||||||||
| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Consolidated Statement of Financial Position |
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| (In millions of Mexican pesos) |
September 30,
Unaudited (US Dollars)* |
September 30, Unaudited |
December 31, Audited |
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| Assets | |||||||||
| Cash and cash equivalents | 359 | 6,993 | 5,157 | ||||||
| Accounts Receivable | 61 | 1,190 | 464 | ||||||
| Inventories | 11 | 215 | 163 | ||||||
| Prepaid expenses and other current assets | 27 | 534 | 585 | ||||||
| Financial instruments | 13 | 249 | 10 | ||||||
| Guarantee deposits | 53 | 1,029 | 861 | ||||||
| Total current assets | 524 | 10,211 | 7,241 | ||||||
| Rotable spare parts, furniture and equipment, net | 102 | 1,997 | 2,550 | ||||||
| Intangible assets, net | 5 | 102 | 95 | ||||||
| Financial instruments | 22 | 420 | 69 | ||||||
| Deferred income taxes | 28 | 549 | 545 | ||||||
| Guarantee deposits | 305 | 5,952 | 4,704 | ||||||
| Other assets | 3 | 54 | 58 | ||||||
| Total non-current assets | 465 | 9,074 | 8,020 | ||||||
| Total assets | 989 | 19,285 | 15,261 | ||||||
| Liabilities | |||||||||
| Unearned transportation revenue | 122 | 2,381 | 1,957 | ||||||
| Accounts payable | 35 | 688 | 795 | ||||||
| Accrued liabilities | 105 | 2,043 | 1,471 | ||||||
| Other taxes and fees payable | 57 | 1,103 | 1,107 | ||||||
| Income taxes payable | 52 | 1,023 | 338 | ||||||
| Financial instruments | 1 | 25 | 44 | ||||||
| Financial debt | 29 | 562 | 1,371 | ||||||
| Other liabilities | 1 | 17 | 19 | ||||||
| Total short-term liabilities | 402 | 7,842 | 7,103 | ||||||
| Financial instruments | - | - | 11 | ||||||
| Financial debt | 22 | 429 | 220 | ||||||
| Accrued liabilities | 11 | 207 | 157 | ||||||
| Other liabilities | 5 | 102 | 49 | ||||||
| Employee benefits | 1 | 12 | 10 | ||||||
| Deferred income taxes | 54 | 1,059 | 885 | ||||||
| Total long-term liabilities | 93 | 1,810 | 1,333 | ||||||
| Total liabilities | 495 | 9,652 | 8,436 | ||||||
| Equity | |||||||||
| Capital stock | 152 | 2,974 | 2,974 | ||||||
| Treasury shares | (4) | (82) | (91) | ||||||
| Contributions for future capital increases | - | - | - | ||||||
| Legal reserve | 2 | 38 | 38 | ||||||
| Additional paid-in capital | 92 | 1,794 | 1,791 | ||||||
| Retained earnings | 254 | 4,954 | 2,408 | ||||||
| Accumulated other comprehensive losses | (2) | (46) | (295) | ||||||
| Total equity | 494 | 9,633 | 6,825 | ||||||
| Total liabilities and equity | 989 | 19,285 | 15,261 | ||||||
| Total shares outstanding fully diluted | 1,011,876,677 | 1,011,876,677 | |||||||
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| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
|
Controladora Vuela Compañía de Aviación, S.A.B. de C.V. and
Subsidiaries Consolidated Statement of Cash Flows – Cash Flow Data Summary |
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|
Unaudited (In millions of Mexican pesos) |
Three months (US Dollars)* |
Three months |
Three months |
||||||
| Net cash flow (used in) provided by operating activities | (1) | (22) | 243 | ||||||
| Net cash flow (used in) provided by investing activities | (14) | (268) | 86 | ||||||
| Net cash flow provided by (used in) financing activities | 7 | 145 | (176) | ||||||
| (Decrease) increase in cash and cash equivalents | (7) | (146) | 154 | ||||||
| Net foreign exchange differences | 11 | 209 | 226 | ||||||
| Cash and cash equivalents at beginning of period | 355 | 6,930 | 4,028 | ||||||
| Cash and cash equivalents at end of period | 359 | 6,993 | 4,408 | ||||||
| *Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
|
Unaudited (In millions of Mexican pesos) |
Nine months |
Nine months |
Nine months |
||||||
| Net cash flow provided by operating activities | 77 | 1,501 | 2,140 | ||||||
| Net cash flow provided by (used in) investing activities | 26 | 498 | (245) | ||||||
| Net cash flow used in financing activities | (40) | (774) | (61) | ||||||
| Increase in cash and cash equivalents | 63 | 1,225 | 1,833 | ||||||
| Net foreign exchange differences | 31 | 611 | 309 | ||||||
| Cash and cash equivalents at beginning of period | 264 | 5,157 | 2,265 | ||||||
| Cash and cash equivalents at end of period | 359 | 6,993 | 4,408 | ||||||
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*Peso amounts were converted to U.S. dollars at end of period exchange rate for convenience purposes only |
View source version on businesswire.com: http://www.businesswire.com/news/home/20161026005591/en/
