AIR FRANCE - KLM : Additional information on restatement of accounts 2017
18 Maggio 2018 - 06:30PM
18 May 2018
Air France-KLM: Additional
information on restatement of accounts 2017
Since January 1st, 2018, Air
France-KLM Group applies the new accounting standards IFRS 9, 15
and 16. For the purpose of comparison, the Group consolidated
financial statements have been restated as of 1st January 2017.
These restated accounts have not yet been audited and could be
subject to changes.
Detailed information on the
restatement of accounts 2017 have been provided in the published
document "Unaudited interim consolidated financial statements" of
the first quarter 2018 (Chapter 2: Restatement of accounts 2017,
page 11-16) and in the press release of the first quarter 2018
results.
(http://www.airfranceklm.com/en/finance/publications/results)
Additional information with
regards to the impact of these new standards on the consolidated
income statement for second, third and fourth quarter 2017 are
given in the tables hereafter.
Investor
Relations
Press
Marie-Agnès de
Peslouan
Wouter van
Beek
+33 1 49 89 52 59
+33 1 49 89 52
60
+33 1 41 56 56 00
madepeslouan@airfranceklm.com
Wouter-van.Beek@airfranceklm.com
Impact on the
consolidated statement of recognized income and expenses: Second
quarter and first half 2017
These restated accounts have not yet been audited
and could be subject to changes.
|
Second
quarter 2017 |
First half 2017 |
In
millions euros |
Published accounts |
Restated |
Change |
Published accounts |
Restated |
Change |
Sales |
6,605 |
6,621 |
16 |
12,314 |
12,326 |
12 |
Other
revenues |
0 |
0 |
0 |
0 |
0 |
0 |
Revenues |
6,605 |
6,621 |
16 |
12,314 |
12,326 |
12 |
Aircraft
fuel |
-1,160 |
-1,160 |
0 |
-2,280 |
-2,280 |
0 |
Chartering
costs |
-103 |
-130 |
-27 |
-202 |
-256 |
-54 |
Landing
fees and en route charges |
-495 |
-494 |
1 |
-932 |
-932 |
0 |
Catering |
-203 |
-203 |
0 |
-388 |
-388 |
0 |
Handling
charges and other operating costs |
-437 |
-437 |
0 |
-856 |
-856 |
0 |
Aircraft
maintenance costs |
-609 |
-561 |
48 |
-1,240 |
-1,153 |
87 |
Commercial
and distribution costs |
-238 |
-237 |
1 |
-468 |
-466 |
2 |
Other
external expenses |
-395 |
-368 |
27 |
-782 |
-726 |
56 |
Salaries
and related costs |
-1,915 |
-1,915 |
0 |
-3,727 |
-3,727 |
0 |
Taxes other
than income taxes |
-38 |
-38 |
0 |
-83 |
-83 |
0 |
Other
income and expenses |
178 |
212 |
34 |
388 |
477 |
89 |
Aircraft
operating lease costs |
-277 |
0 |
277 |
-562 |
0 |
562 |
EBITDA |
913 |
1,290 |
377 |
1,182 |
1,938 |
756 |
Amortization, depreciation and provisions |
-417 |
-702 |
-285 |
-829 |
-1,384 |
-555 |
Income from current operations |
496 |
588 |
92 |
353 |
555 |
202 |
Sales of
aircraft equipment |
10 |
10 |
0 |
19 |
19 |
0 |
Other
non-current income and expenses |
-3 |
-4 |
-1 |
-11 |
-11 |
0 |
Income from operating activities |
503 |
594 |
91 |
361 |
563 |
202 |
Cost of
financial debt |
-68 |
-148 |
-80 |
-133 |
-297 |
-164 |
Income from
cash and cash equivalent |
11 |
11 |
0 |
20 |
20 |
0 |
Net cost of financial debt |
-57 |
-137 |
-80 |
-113 |
-277 |
-164 |
Other
financial income and expenses |
32 |
328 |
296 |
1 |
373 |
372 |
Income before tax |
478 |
785 |
307 |
249 |
659 |
410 |
Income
taxes |
-105 |
-185 |
-80 |
-96 |
-205 |
-109 |
Net income of consolidated companies |
373 |
600 |
227 |
153 |
453 |
300 |
Share of
profits (losses) of associates |
3 |
4 |
1 |
7 |
7 |
0 |
Income from continuing operations |
376 |
604 |
228 |
160 |
461 |
301 |
Net income
from discontinued operations |
-8 |
-9 |
-1 |
-8 |
-8 |
0 |
Net income for the period |
368 |
595 |
227 |
152 |
452 |
300 |
Minority
interest |
-1 |
-1 |
0 |
-1 |
-1 |
0 |
Net income for the period - Group |
367 |
594 |
227 |
151 |
451 |
300 |
Impact on the
consolidated statement of recognized income and expenses: third
quarter and nine months 2017
These restated accounts have not yet been audited
and could be subject to changes.
|
Third
quarter 2017 |
Nine months 2017 |
In
millions euros |
Published accounts |
Restated |
Change |
Published accounts |
Restated |
Change |
Sales |
7,234 |
7,255 |
21 |
19,548 |
19,581 |
33 |
Other
revenues |
1 |
1 |
0 |
1 |
1 |
0 |
Revenues |
7,235 |
7,256 |
21 |
19,549 |
19,582 |
33 |
Aircraft
fuel |
-1,148 |
-1,148 |
0 |
-3,428 |
-3,428 |
0 |
Chartering
costs |
-104 |
-132 |
-28 |
-306 |
-388 |
-82 |
Landing
fees and en route charges |
-513 |
-514 |
-1 |
-1,445 |
-1,445 |
0 |
Catering |
-214 |
-215 |
-1 |
-602 |
-602 |
0 |
Handling
charges and other operating costs |
-457 |
-458 |
-1 |
-1,313 |
-1,313 |
0 |
Aircraft
maintenance costs |
-602 |
-573 |
29 |
-1,842 |
-1,725 |
117 |
Commercial
and distribution costs |
-233 |
-234 |
-1 |
-701 |
-700 |
1 |
Other
external expenses |
-380 |
-331 |
49 |
-1,162 |
-1,057 |
105 |
Salaries
and related costs |
-1,928 |
-1,928 |
0 |
-5,655 |
-5,655 |
0 |
Taxes other
than income taxes |
-39 |
-38 |
1 |
-122 |
-122 |
0 |
Other
income and expenses |
135 |
167 |
32 |
523 |
643 |
120 |
Aircraft
operating lease costs |
-265 |
0 |
265 |
-827 |
0 |
827 |
EBITDA |
1,488 |
1,852 |
364 |
2,670 |
3,790 |
1,120 |
Amortization, depreciation and provisions |
-466 |
-711 |
-245 |
-1,295 |
-2,094 |
-799 |
Income from current operations |
1,022 |
1,141 |
119 |
1,375 |
1,696 |
321 |
Sales of
aircraft equipment |
0 |
-2 |
-2 |
19 |
17 |
-2 |
Other
non-current income and expenses |
-315 |
-313 |
2 |
-326 |
-324 |
2 |
Income from operating activities |
707 |
826 |
119 |
1,068 |
1,389 |
321 |
Cost of
financial debt |
-65 |
-145 |
-80 |
-198 |
-442 |
-244 |
Income from
cash and cash equivalent |
7 |
6 |
-1 |
27 |
27 |
-0 |
Net cost of financial debt |
-58 |
-139 |
-81 |
-171 |
-416 |
-245 |
Other
financial income and expenses |
81 |
163 |
82 |
82 |
536 |
454 |
Income before tax |
730 |
850 |
120 |
979 |
1,509 |
530 |
Income
taxes |
-186 |
-218 |
-32 |
-282 |
-425 |
-143 |
Net income of consolidated companies |
544 |
632 |
88 |
697 |
1,085 |
388 |
Share of
profits (losses) of associates |
9 |
8 |
-1 |
16 |
16 |
0 |
Income from continuing operations |
553 |
640 |
87 |
713 |
1,101 |
388 |
Net income
from discontinued operations |
0 |
0 |
0 |
-8 |
-8 |
0 |
Net income for the period |
553 |
640 |
87 |
705 |
1,093 |
388 |
Minority
interest |
-1 |
-1 |
0 |
-2 |
-3 |
-1 |
Net income for the period - Group |
552 |
639 |
87 |
703 |
1,090 |
387 |
Impact on the
consolidated statement of recognized income and expenses: Fourth
quarter and Full year 2017
These restated accounts have not yet been audited
and could be subject to changes.
|
Fourth
quarter 2017 |
Full year 2017 |
In
millions euros |
Published accounts |
Restated |
Change |
Published accounts |
Restated |
Change |
Sales |
6,233 |
6,276 |
43 |
25,781 |
25,857 |
76 |
Other
revenues |
2 |
2 |
0 |
3 |
3 |
0 |
Revenues |
6,235 |
6,278 |
43 |
25,784 |
25,860 |
76 |
Aircraft
fuel |
-1,079 |
-1,079 |
0 |
-4,507 |
-4,507 |
0 |
Chartering
costs |
-97 |
-128 |
-31 |
-403 |
-516 |
-113 |
Landing
fees and en route charges |
-460 |
-460 |
0 |
-1,905 |
-1,905 |
0 |
Catering |
-182 |
-182 |
0 |
-784 |
-784 |
0 |
Handling
charges and other operating costs |
-440 |
-440 |
0 |
-1,753 |
-1,753 |
0 |
Aircraft
maintenance costs |
-582 |
-504 |
78 |
-2,424 |
-2,229 |
195 |
Commercial
and distribution costs |
-234 |
-234 |
0 |
-935 |
-934 |
1 |
Other
external expenses |
-413 |
-403 |
10 |
-1,574 |
-1,460 |
114 |
Salaries
and related costs |
-1,969 |
-1,969 |
0 |
-7,624 |
-7,624 |
0 |
Taxes other
than income taxes |
-36 |
-36 |
0 |
-158 |
-158 |
0 |
Other
income and expenses |
112 |
141 |
29 |
635 |
785 |
150 |
Aircraft
operating lease costs |
-261 |
0 |
261 |
-1,088 |
0 |
1,088 |
EBITDA |
594 |
984 |
390 |
3,264 |
4,774 |
1,510 |
Amortization, depreciation and provisions |
-481 |
-743 |
-262 |
-1,776 |
-2,837 |
-1,061 |
Income from current operations |
113 |
241 |
128 |
1,488 |
1,937 |
449 |
Sales of
aircraft equipment |
-1 |
1 |
2 |
18 |
18 |
0 |
Other
non-current income and expenses |
-1,599 |
-1,601 |
-2 |
-1,925 |
-1,925 |
0 |
Income from operating activities |
-1,487 |
-1,359 |
128 |
-419 |
30 |
449 |
Cost of
financial debt |
-51 |
-129 |
-78 |
-249 |
-570 |
-321 |
Income from
cash and cash equivalent |
8 |
8 |
0 |
35 |
35 |
0 |
Net cost of financial debt |
-43 |
-121 |
-78 |
-214 |
-535 |
-321 |
Other
financial income and expenses |
34 |
46 |
12 |
116 |
579 |
463 |
Income before tax |
-1,496 |
-1,434 |
62 |
-517 |
75 |
592 |
Income
taxes |
511 |
498 |
-13 |
229 |
74 |
-155 |
Net income of consolidated companies |
-985 |
-936 |
49 |
-288 |
149 |
437 |
Share of
profits (losses) of associates |
5 |
5 |
0 |
21 |
21 |
0 |
Income from continuing operations |
-980 |
-931 |
49 |
-267 |
170 |
437 |
Net income
from discontinued operations |
0 |
0 |
0 |
-8 |
-8 |
-0 |
Net income for the period |
-980 |
-931 |
49 |
-275 |
161 |
436 |
Minority
interest |
3 |
3 |
0 |
1 |
0 |
-1 |
Net income for the period - Group |
-977 |
-928 |
49 |
-274 |
162 |
436 |
Air France-KLM: Additional
information on restatement of accounts 2017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: AIR FRANCE - KLM via Globenewswire
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