35. Operating segments
The Group has a number of operating segments, but none of them, except for “Passenger Traffic“, meet the quantitative threshold for determining reportable segment. In 2013, management analysed and concluded that the disclosure of operating segments that do not meet the quantitative threshold is not impo tant for users of the consolidated financial statements of the Group. Consequen ly, the disclosure of operating segments for the year ended 2012 was revised accordingly.
The passenger traffic operational performance is measured based on internal management reports which are reviewed by the Group’s General Director. Passenger traffic revenue by flight routes is allocated based on the g ographic destinations of flights. Passenger traffic revenue by flight routes is used to measure performance as the Group believes that such information is the most material in evaluating the results.
|
Passenger traffic |
Other |
Inter-segment sales elimination |
Total Group |
|
|---|---|---|---|---|
|
2013 |
||||
|
External sales |
9,063.4 |
72.3 |
- |
9,135.7 |
|
Inter-segment sales |
0.3 |
289.0 |
(289.3) |
- |
|
Total revenue |
9,063.7 |
361.3 |
(289.3) |
9,135.7 |
|
Operating profit |
583.9 |
44.0 |
(6.4) |
621.5 |
|
Finance income |
84.3 |
|||
|
Finance costs |
(276.7) |
|||
|
Share of financial results of equity accounted instruments |
1.2 |
|||
|
Profit before income tax |
430.3 |
|||
|
Income tax |
(200.0) |
|||
|
Profit for the year |
230.3 |
|||
|
31 December 2013 |
||||
|
Segment assets |
6,443.9 |
213.0 |
(350.8) |
6,306.1 |
|
Investments in associates |
- |
4.3 |
- |
4.3 |
|
Unallocated assets |
81.0 |
|||
|
Total assets |
6,391.4 |
|||
|
Segment liabilities |
4,687.4 |
146.1 |
(161.4) |
4,672.1 |
|
Unallocated liabilities |
54.7 |
|||
|
Total liabilities |
4,726.8 |
|||
|
2013 |
||||
|
Capital expenditures and PP&E additions (Note 21) |
772.9 |
14.2 |
- |
787.1 |
|
Depreciation and amortisation (Notes 21 and 22) |
328.9 |
5.8 |
- |
334.7 |
|
Goodwill impairment (Note 9) |
- |
- |
- |
- |
|
2012 |
||||
|
External sales |
7,914.5 |
223.7 |
- |
8,138.1 |
|
Inter-segment sales |
0.1 |
227.6 |
(227.6) |
- |
|
Total revenue |
7,914.5 |
451.2 |
(227.6) |
8,138.1 |
|
Operating profit |
316.3 |
48.4 |
(7.0) |
357.7 |
|
Finance income |
166.4 |
|||
|
Finance costs |
(166.7) |
|||
|
Share of financial results of equity accounted instruments |
0.3 |
|||
|
Profit before income tax |
357.7 |
|||
|
Income tax |
(191.4) |
|||
|
Profit for the year |
166.3 |
|||
|
31 December 2012 |
||||
|
Segment assets |
6,222.3 |
242.9 |
(387.0) |
6,078.2 |
|
Investments in associates |
- |
3.2 |
- |
3.2 |
|
Unallocated assets |
164.5 |
|||
|
Total assets |
6,245.9 |
|||
|
Segment liabilities |
4,520.4 |
176.0 |
(168.6) |
4,527.8 |
|
Unallocated liabilities |
91.8 |
|||
|
Total liabilities |
4,619.6 |
|||
|
2012 |
||||
|
Capital expenditures and PP&E additions (Note 21) |
827.9 |
16.4 |
- |
844.3 |
|
Depreciation and amortisation (Notes 21 and 22) |
263.8 |
5.3 |
- |
269.1 |
|
Goodwill impairment (Note 9) |
43.6 |
- |
43.6 |
|
2013 |
2012 |
|
|---|---|---|
|
Passenger revenue: |
||
|
International flights from the RF to: |
||
|
Europe |
1,260.7 |
1,117.5 |
|
Asia |
609.9 |
511.0 |
|
North America |
160.7 |
102.2 |
|
Other regions |
65.6 |
70.8 |
|
Total passenger revenue from flights from the RF |
2,096.9 |
1,801.5 |
|
International flights to the RF from: |
||
|
Europe |
1,265.0 |
1,161.0 |
|
Asia |
639.6 |
539.2 |
|
North America |
157.4 |
101.0 |
|
Other regions |
63.8 |
67.0 |
|
Total passenger revenue from flights to the RF |
2,125.8 |
1,868.2 |
|
Domestic flights |
3,000.4 |
2,562.0 |
|
Other international flights |
17.3 |
15.3 |
|
Total passenger traffic revenue |
7,240.4 |
6,247.0 |