REG - Gama Aviation PLC - FY21 Trading Update

Gama AviationAnnouncement

08/03/2022 15:00

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RNS Number : 0724E  Gama Aviation PLC  08 March 2022

8(th) March 2022

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Gama Aviation Plc (AIM: GMAA)

("Gama Aviation", the "Group" or the "Company")

FY21 Trading Update

Gama Aviation is today providing an update on trading for the year ending 31
December 2021 ahead of the anticipated publication of its full year audited
results by the end of April 2022.

The Group continued to deliver a solid trading performance in the second half
of the year however margins continued to be impacted by the challenging
operating environment.  The Company expects to deliver an Adjusted EBIT loss
of approximately $4m for the full year.

As reported in the H1/21 interim results, released on 24(th) September 2021,
Adjusted EBIT includes the $1.5m share of losses from its associate China
Aircraft Services Limited ("CASL").  The Group has since reported the sale of
its interest in CASL which completed on 31(st) December 2021.  Additionally,
the full year Adjusted EBIT also includes start-up costs of approximately
$3.2m relating to the development for, and commencement in H2 of, operations
at two US base maintenance facilities.  These facilities enable the Company
to provide an expanded service offering and are supported by a long-term
contract from a major existing customer.

Consequently, after adding back the total $4.7m impact from these two items,
the Group is expected to deliver a modest Adjusted EBIT profit performance
from its mature and continuing operations, despite the prevailing challenging
environment.

As at 31(st) December 2021, the Company held cash balances totalling $10.2m in
addition to having $12.1m of undrawn funds remaining on its $50m RCF.  As at
5(th) March 2022, the Company's cash balances totalled $12.5m in addition to
having $12.4m of headroom on the RCF.

END

For more information contact:

Gama Aviation
Plc
+44 (0) 1252 553000

Marwan Khalek, Chief Executive Officer

Daniel Ruback, Chief Financial Officer

Camarco
+44 (0) 20 3757 4992

Ginny Pulbrook

Geoffrey Pelham-Lane

WH Ireland
 
 
+44 (0) 207 220 1666

James Joyce

 

 

 

Gama Aviation - Notes to Editors

Founded in 1983 on the simple purpose of providing aviation services that
equip its customers with decisive advantage, Gama Aviation Plc (LSE AIM: GMAA)
is a highly valued global partner to blue chip corporations, government
agencies, healthcare trusts and private individuals. The Group has three
global divisions: Business Aviation (Aircraft Management, Charter, FBO &
Maintenance), Special Mission (Air Ambulance & Rescue, National Security
& Policing, Infrastructure & Survey, Energy & Offshore); and
Technology & Outsourcing (Flight Operations, FBO, CAM software, Flight
Planning, CAM & ARC services)

More details can be found at: http://www.gamaaviation.com/
(http://www.gamaaviation.com/)

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