Gol delays release of audited Q4 2022 results, but preliminary numbers positive

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Brazilian airline Gol announced this Wednesday that it is delaying the release of its final 2022 results until the end of the month, as an independent audit of the numbers is yet to be completed.

The company nonetheless released a preliminary version of its Q4 2022 report today as planned. Per the unaudited numbers, the airline posted a net profit of BRL 230.9 million (USD 44.8 million) in Q4 of last year, coming back from a BRL 2.8 billion loss in the same quarter of 2021.

Its net operating income was 61.7 percent higher year-on-year, at BRL 4.7 billion, and the company recorded a recurring Ebitda (earnings before interest, taxes, depreciation, and amortization) of BRL 1.2 billion, the highest since Q4 2019.

“This year was marked by the return to normal operations in many areas,” said Gol’s CEO Celso Ferrer, in reference to the impact of the Covid pandemic on the airline industry. “We focused on controlling costs and increasing our margins, and our strong fourth quarter results are proof that our approach is working.”

These results could still change once the independent audit is concluded, but in a statement to investors, Gol said it did not foresee the need to make adjustments or alterations to the numbers posted today.

The audited results are now due to be released on March 28.