...and 3 reasons not toMay 26, 2015 9:00
11 takeaways from Emirates Group’s annual results
Kippreport reviews the numbers and here’s what you need to know
May 11, 2015 9:32 by fpilkington
Don’t have enough time to read the whole annual report? No problem, we’ve got your back.
Here are our 11 takeaways from Emirates Group’s 2014 annual results:
1. Emirates Group records its second highest profit ever at AED5.5 billion, up 34 per cent from last year and on a revenue of AED96.5bn, an increase of ten per cent over last year.
2. The group grows its cash balance to AED20.0bn. The cash balance of dnata at AED3.1bn was the highest ever recorded.
3. The rise of the US dollar costs the group’s bottom line AED1.5bn, while the 80-day disruption at Dubai International Airport (DXB) had an estimated impact of AED1.7bn on the group’s revenue.
4. In 2014-15, the group collectively invested more than AED20.2bn in new aircraft and equipment, facilities, technologies and staff initiatives.
5. The group’s employee base across its 80 odd subsidiaries and companies increased by 11 per cent to exceed 84,000.
6. The group declared a dividend of AED2.6bn to the Investment Corporation of Dubai.
7. Emirates Airline received 24 new aircraft during the year, including 12 A380s, ten Boeing 777-300ERs and two Boeing 777Fs, bringing its total fleet count to 231.
8. The airline’s revenue reached AED88.8bn, while it posted a profit of AED4.6bn, an increase of 40 per cent over last year’s results and a profit margin of 5.1 per cent, the strongest since 2010-11.
9. Emirates’ fuel bill decreased by seven per cent over the past year to AED28.7bn. Fuel is now 35 per cent of operating costs, down by four per cent compared with last year.
10. The airline carried 49.3 million passengers, up 11 per cent from last year and managed to achieve a Passenger Seat Factor of 79.6 per cent, an improvement compared with last year’s results (79.4 per cent), despite a nine per cent increase in seat capacity by Available Seat Kilometres (ASKMs).
11. Emirates invested more than AED73 million last year to equip its fleet with free Wi-Fi. By March 31, 2015, 107 of its A380 and Boeing 777 aircraft offered Wi-Fi services.