Archive for Ogos 6, 2014
Pegawai Kanan KHAZANAH Bergaji Tinggi; Tapi Masih Harapkan CON-Sultants?
Its net loss widened to RM1.17bil last year from RM432.59mil the year before, although sales grew 9.92% to RM15.12bil versus RM13.76bil, higher than the RM14.76bil estimated by analysts.
The airline’s loss per share stood at 8.69 sen against 6.09 sen a year earlier. This was far worse than analysts’ expectations of a RM878.86mil net loss and loss per share of 5.8 sen.
MAS’ bottom line in Q4’13 plunged into a net loss of RM343.44mil from a profit of RM51.37mil in the same period in 2012. Sales rose a marginal 0.78% to RM3.9bil from RM3.87bil.
More tellingly, the flag carrier turned EBITDA (earnings before interest, taxes, depreciation, and amortisation) negative in Q4’13 from EBITDA positive in Q4’12 and Q3’13, a sign that its operations were losing money.
For the full year, however, it registered an EBITDA of RM254.19mil, up 35.71% compared with RM187.31mil in 2012.
Data compiled by Bloomberg suggests that MAS will remain under water well into the 2015 financial year, even if sales improve.
In the notes accompanying its financials, the airline said that despite a 17% boost in capacity for the year, and 6.3% better load factor to 81%, passenger yields succumbed to pressure from “intense competition” caused by new entrants both domestically and regionally.
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