News
Capital A builds healthy profit trajectory in first quarter 2024
May 31st 2024
Capital A Berhad, parent company of Aviation Group and Capital A Companies, has posted first quarter revenue of RM5.2 billion (US$1.1 billion) and EBITDA of RM1 billion, an increase of 107% and 105%, respectively, against previous performances. Read More » Collectively, the group booked an adjusted net operating profit of RM305 million for the three months to March 31. About 89% of the result was contributed by the group’s aviation subsidiaries and 11% by Capital A companies. However, the company still recorded a net loss for the reported quarter of RM244 million, due to RM79 million in finance costs, RM104 million in depreciation from non-operating aircraft and RM364 million in unrealized foreign exchange losses. Net cash from operations increased 49% year-on-year, to RM789 million. Airline revenue surged 121%, to nearly RM5 billion, compared with the matching months in 2023 and EBITDA grew 91% to RM958 million. The performance was achieved operating 78% of the group’s fleet. Aviation group load factor was 90.4% for the quarter and the average fare reached a new peak of RM264 per passenger, marking 26% and 6% increases, respectively, year-on-year and quarter-on-quarter. “In the first quarter alone, we have hit multiple new records that culminated in our best-ever quarterly financial performance. This demonstrates the strength and effectiveness of our diversified ecosystem and the momentum we are building,” Capital A CEO, Tony Fernandes, said.
