(AOF) – Air France-KLM begins the session down 10% to 10.27 euros after the publication of its annual results. Net profit, group share, reached 934 million euros in 2023 compared to 206 million euros in 2022. The airline revealed an operating result improving from 519 million euros to 1.7 billion euros. euros, with an operating margin of 5.7%, up 1.2 points.
In the fourth quarter, the group suffered an operating loss of 56 million euros, representing a deterioration of 190 million euros compared to last year. Analysts surveyed by the company on average expected a profit of 88 million euros. The operating result “was impacted by the geopolitical situation in Africa and the Middle East (65 million euros) and an increase in unit costs, although partially offset by the drop in the price of kerosene.”
2023 turnover increased by 14% to 30 billion euros.
Net debt was reduced by 1.3 billion euros compared to the end of 2022, resulting in a net debt to Ebitda ratio of 1.2.
This year, the group forecasts a capacity in offered seat kilometers for the Air France-KLM group including Transavia up 5% in 2024 compared to 2023. For the first quarter of 2024, the group expects a unit cost up 4% “due to the continuation of high disruption costs during the first two months and a one-off payment of 2% of the annual salary to KLM staff as agreed in the sector collective agreement”.
For the whole of 2024, the group forecasts an increase in unit cost of between 1% and 2% compared to 2023.
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