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2018-05-18 18:30 CEST
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AIR FRANCE - KLM : Additional information on restatement of accounts 2017


                                                                                                                     
18 May 2018

Air France-KLM: Additional information on restatement of accounts 2017

Since January 1st, 2018, Air France-KLM Group applies the new accounting standards IFRS 9, 15 and 16. For the purpose of comparison, the Group consolidated financial statements have been restated as of 1st January 2017. These restated accounts have not yet been audited and could be subject to changes.

Detailed information on the restatement of accounts 2017 have been provided in the published document "Unaudited interim consolidated financial statements" of the first quarter 2018 (Chapter 2: Restatement of accounts 2017, page 11-16) and in the press release of the first quarter 2018 results. (http://www.airfranceklm.com/en/finance/publications/results)

Additional information with regards to the impact of these new standards on the consolidated income statement for second, third and fourth quarter 2017 are given in the tables hereafter.

Investor Relations                                                                                          Press
Marie-Agnès de Peslouan                   Wouter van Beek                                                       
+33 1 49 89 52 59                                 +33 1 49 89 52 60                                 +33 1 41 56 56 00
madepeslouan@airfranceklm.com        Wouter-van.Beek@airfranceklm.com

Impact on the consolidated statement of recognized income and expenses: Second quarter and first half 2017
These restated accounts have not yet been audited and could be subject to changes.

  Second quarter 2017 First half 2017
In millions euros Published accounts Restated Change Published accounts Restated Change
Sales 6,605 6,621 16 12,314 12,326 12
Other revenues 0 0 0 0 0 0
Revenues 6,605 6,621 16 12,314 12,326 12
Aircraft fuel -1,160 -1,160 0 -2,280 -2,280 0
Chartering costs -103 -130 -27 -202 -256 -54
Landing fees and en route charges -495 -494 1 -932 -932 0
Catering -203 -203 0 -388 -388 0
Handling charges and other operating costs -437 -437 0 -856 -856 0
Aircraft maintenance costs -609 -561 48 -1,240 -1,153 87
Commercial and distribution costs -238 -237 1 -468 -466 2
Other external expenses -395 -368 27 -782 -726 56
Salaries and related costs -1,915 -1,915 0 -3,727 -3,727 0
Taxes other than income taxes -38 -38 0 -83 -83 0
Other income and expenses 178 212 34 388 477 89
Aircraft operating lease costs -277 0 277 -562 0 562
EBITDA 913 1,290 377 1,182 1,938 756
Amortization, depreciation and provisions -417 -702 -285 -829 -1,384 -555
Income from current operations 496 588 92 353 555 202
Sales of aircraft equipment 10 10 0 19 19 0
Other non-current income and expenses -3 -4 -1 -11 -11 0
Income from operating activities 503 594 91 361 563 202
Cost of financial debt -68 -148 -80 -133 -297 -164
Income from cash and cash equivalent 11 11 0 20 20 0
Net cost of financial debt -57 -137 -80 -113 -277 -164
Other financial income and expenses 32 328 296 1 373 372
Income before tax 478 785 307 249 659 410
Income taxes -105 -185 -80 -96 -205 -109
Net income of consolidated companies 373 600 227 153 453 300
Share of profits (losses) of associates 3 4 1 7 7 0
Income from continuing operations 376 604 228 160 461 301
Net income from discontinued operations -8 -9 -1 -8 -8 0
Net income for the period 368 595 227 152 452 300
Minority interest -1 -1 0 -1 -1 0
Net income for the period - Group 367 594 227 151 451 300

Impact on the consolidated statement of recognized income and expenses: third quarter and nine months 2017
These restated accounts have not yet been audited and could be subject to changes.

  Third quarter 2017 Nine months 2017
In millions euros Published accounts Restated Change Published accounts Restated Change
Sales 7,234 7,255 21 19,548 19,581 33
Other revenues 1 1 0 1 1 0
Revenues 7,235 7,256 21 19,549 19,582 33
Aircraft fuel -1,148 -1,148 0 -3,428 -3,428 0
Chartering costs -104 -132 -28 -306 -388 -82
Landing fees and en route charges -513 -514 -1 -1,445 -1,445 0
Catering -214 -215 -1 -602 -602 0
Handling charges and other operating costs -457 -458 -1 -1,313 -1,313 0
Aircraft maintenance costs -602 -573 29 -1,842 -1,725 117
Commercial and distribution costs -233 -234 -1 -701 -700 1
Other external expenses -380 -331 49 -1,162 -1,057 105
Salaries and related costs -1,928 -1,928 0 -5,655 -5,655 0
Taxes other than income taxes -39 -38 1 -122 -122 0
Other income and expenses 135 167 32 523 643 120
Aircraft operating lease costs -265 0 265 -827 0 827
EBITDA 1,488 1,852 364 2,670 3,790 1,120
Amortization, depreciation and provisions -466 -711 -245 -1,295 -2,094 -799
Income from current operations 1,022 1,141 119 1,375 1,696 321
Sales of aircraft equipment 0 -2 -2 19 17 -2
Other non-current income and expenses -315 -313 2 -326 -324 2
Income from operating activities 707 826 119 1,068 1,389 321
Cost of financial debt -65 -145 -80 -198 -442 -244
Income from cash and cash equivalent 7 6 -1 27 27 -0
Net cost of financial debt -58 -139 -81 -171 -416 -245
Other financial income and expenses 81 163 82 82 536 454
Income before tax 730 850 120 979 1,509 530
Income taxes -186 -218 -32 -282 -425 -143
Net income of consolidated companies 544 632 88 697 1,085 388
Share of profits (losses) of associates 9 8 -1 16 16 0
Income from continuing operations 553 640 87 713 1,101 388
Net income from discontinued operations 0 0 0 -8 -8 0
Net income for the period 553 640 87 705 1,093 388
Minority interest -1 -1 0 -2 -3 -1
Net income for the period - Group 552 639 87 703 1,090 387


Impact on the consolidated statement of recognized income and expenses: Fourth quarter and Full year 2017
These restated accounts have not yet been audited and could be subject to changes.

  Fourth quarter 2017 Full year 2017
In millions euros Published accounts Restated Change Published accounts Restated Change
Sales 6,233 6,276 43 25,781 25,857 76
Other revenues 2 2 0 3 3 0
Revenues 6,235 6,278 43 25,784 25,860 76
Aircraft fuel -1,079 -1,079 0 -4,507 -4,507 0
Chartering costs -97 -128 -31 -403 -516 -113
Landing fees and en route charges -460 -460 0 -1,905 -1,905 0
Catering -182 -182 0 -784 -784 0
Handling charges and other operating costs -440 -440 0 -1,753 -1,753 0
Aircraft maintenance costs -582 -504 78 -2,424 -2,229 195
Commercial and distribution costs -234 -234 0 -935 -934 1
Other external expenses -413 -403 10 -1,574 -1,460 114
Salaries and related costs -1,969 -1,969 0 -7,624 -7,624 0
Taxes other than income taxes -36 -36 0 -158 -158 0
Other income and expenses 112 141 29 635 785 150
Aircraft operating lease costs -261 0 261 -1,088 0 1,088
EBITDA 594 984 390 3,264 4,774 1,510
Amortization, depreciation and provisions -481 -743 -262 -1,776 -2,837 -1,061
Income from current operations 113 241 128 1,488 1,937 449
Sales of aircraft equipment -1 1 2 18 18 0
Other non-current income and expenses -1,599 -1,601 -2 -1,925 -1,925 0
Income from operating activities -1,487 -1,359 128 -419 30 449
Cost of financial debt -51 -129 -78 -249 -570 -321
Income from cash and cash equivalent 8 8 0 35 35 0
Net cost of financial debt -43 -121 -78 -214 -535 -321
Other financial income and expenses 34 46 12 116 579 463
Income before tax -1,496 -1,434 62 -517 75 592
Income taxes 511 498 -13 229 74 -155
Net income of consolidated companies -985 -936 49 -288 149 437
Share of profits (losses) of associates 5 5 0 21 21 0
Income from continuing operations -980 -931 49 -267 170 437
Net income from discontinued operations 0 0 0 -8 -8 -0
Net income for the period -980 -931 49 -275 161 436
Minority interest 3 3 0 1 0 -1
Net income for the period - Group -977 -928 49 -274 162 436

  

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