Half year results – 2019

“The results for the half year demonstrate the initial positive impact of the changes we have undertaken to strengthen our operational platform. The macro economic climate remains challenging but given the resilience of our business and the steps we have undertaken to bring the business back on track, we are pleased to report that the outlook for the full year 2019 remains in line with the Group’s previous guidance of Adjusted EBIT (pre-IFRS16) in the range of $10.5m to $11.5m.”

Marwan Khalek, Group Chief Executive Officer.

“We are pleased to announce the results for the half year ending 30 June 2019. The Board will continue to oversee the reforms the Company is implementing in terms of corporate governance and financial discipline, whilst supporting the Company’s organic and acquisitive growth strategy, with the aim of delivering stronger future shareholder returns.”

Simon To, Chairman of Gama Aviation.

Financial highlights

  • Revenue $121.8m (2018: $99.4m)
  • Gross profit $23.5m (2018: $19.6m)
  • Gross profit margin of 19.3% (2018: 19.7%)
  • EBITDA $5.9m (2018: $5.6m)
  • EBIT $4.1(2018: $4.9m)
  • Profit before tax $3.5m (2018: $4.2m)
  • EPS (cents) 4.6 (2018: 8.3)
For full details please see the published RNS (within the RNS section below).
1 Adjusted EBIT is stated after removing impairment losses, share based payment charges; acquisition related and accelerated amortisation; and exceptional costs, which comprise: transaction costs; legal, integration and business re-organisation costs and contribution to associate. Adjusted EBITDA is adjusted EBIT with share or results from equity accounting investments and remaining amortisation and all the depreciation added back.
2 Change calculated at a constant foreign exchange rate of $1.29 to £1, being the cumulative average USD-GBP exchange rate for the period ending 30 June 2019.
3 The results for 2018 have been restated for the interim effect of restatement items identified in the 2018 full-year results and to include the effects of consolidating Gama International Saudi Arabia, the results of which have been included in the period ending 30 June 2019 for the first time.
4 EBITDA is a non-statutory measure and has been shown as adjusted only.

For the full RNS please see RNS & Notifications

Share price performance data
(AIM Listed: Incorporated in the UK)

RNS & Notifications

Gama Aviation PLC : Articles of Association

Major Shareholders as of March 2020

Hutchison Capital Holdings Limited: 29.79%
Marwan Abdel-Khalek: 22.28%
Canaccord Genuity Wealth Management: 8.01%
Rozzi Business Inc: 7.82%
Downing LLP: 4.88%
Crescent Investments LLC: 4.08%
Gresham House Asset Management: 3.11%

2019 half year results presentation

Click here to view the analyst presentation.

Further information

Jefferies International
+44 (0) 207 029 8000
Simon Hardy or Will Soutar

Investor relations
+44 (0) 203757 4992
Ginny Pulbrook or Geoffrey Pelham-Lane

Aim Rule 26 disclosure

Gama Aviation Plc (AIM:GMAA) is incorporated in the UK and is subject to the UK City Code on Takeovers and Mergers. There are no restrictions on the transfer of its AIM securities. Shares in Gama Aviation Plc are not traded on any exchanges or trading platforms other than the AIM market.

The information contained within this section of the website has been disclosed for the purposes of AIM Rule 26.