GOL Records Operating Margin of 3.0% in 2013, 14.2 Percentage Points up on
SAO PAULO, March 26, 2014
SAO PAULO, March 26, 2014 /PRNewswire/ --GOL Linhas Aereas Inteligentes S.A.
(BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B-, Moody's: B3), the
largest low-cost and low-fare airline in Latin America, announces today its
results for the fourth quarter and full year of 2013.
oThe fourth-quarter operating profit (EBIT) came to R$162.9 million, with
an operating margin of 6%, representing the Company's highest level of
operational profitability in the last 10 quarters. In the full year of
2013, EBIT totaled R$266.0 million with an operating margin of 3%, a 14.2
p.p. improvement over 2012.
oNet revenue totaled R$2,728.2 million in 4Q13, 29%, or R$609 million, up
on 4Q12, fueled by the 19% upturn in yields and the 5.1 percentage points
increase in the total load factor, which came to 74.8%. Annual net revenue
reached the highest historical level for the Company, R$8,956.2 million,
R$853 million, or 11%, up on 2012.
oGOL reduced its annual operating costs by R$319 million, underlining its
commitment to adjusting its cost structure to a challenging macroeconomic
scenario. Despite the 11% depreciation of the Real against the average
Dollar, record jet fuel prices, and the 7.4% decline in domestic supply,
CASK increased by just 0.9% in the quarter and 0.7% in the year.
oGOL recorded a net loss of R$19.3 million in 4Q13, an improvement of R$428
million compared to 4Q12, leading to an annual net loss of R$724.6
million. Part of this result was due to the foreign exchange variation,
which generated an expense of R$490 million in 2013.
oGOL's cash position closed the year at a historical record R$3 billion,
corresponding to 34% of annual net revenue.
Conference Calls - March 26, 2014
09:30 a.m. (US ET)
Phone: +55 (11) 2188-0155
11:00 a.m. (US ET)
Phone: +1 (412) 317-6776
For further information visit www.voegol.com.br/ir
Phone: +55 (11) 2128-4700
Phone: +55 (11) 2128-4183
ABOUT GOL LINHAS AEREAS INTELIGENTES S.A.
GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), the
largest low-cost and low-fare airline in Latin America.
SOURCE GOL Linhas Aéreas Inteligentes S.A.
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