Cimber Sterling Group
Translated version of Annual Report 2010/11 dated 8 July 2011

Cimber Sterling Group 

26.07.2011 15:01

Dissemination of a Adhoc News, transmitted by DGAP - a company of
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The issuer is solely responsible for the content of this announcement.

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                                                   Announcement no. 12 - 2011/12
                                                                    26 July 2011

                                                                                

  -- Revenue grew by 25% in 2010/11 from DKK 1,551 million to DKK 1,941 million,
     which was in line with the guidance of DKK 1,925-1,950 million
.
  -- EBIT before special items for 2010/11 was a loss of DKK 200 million, which
     was in line with the guidance of a loss of DKK 190 million to DKK 200
     million, and better than the loss of DKK 228 million posted in 2009/10
. 
  -- Net special items of DKK 68 million included a loss on the sale of three
     ATR aircraft, extraordinary winter costs in addition to one-off costs
     relating to prior financial years and costs incurred to strengthen the
     capital base
.
  -- The loss before tax was DKK 274 million as compared with a loss of DKK 309
     million in 2009/10. The loss after tax was DKK 213 million against a loss
     of DKK 229 million in 2009/10
.
  -- The number of passengers rose by 26%, while production and traffi c
     increased by 24% and 25% respectively
.
  -- The staff was increased by 20 in 2010/11 to an average of 840, up from 820
     in 2009/10
. 
  -- Significant events in 2010/11
:

 -  Strengthening of the share of the Danish domestic market (from 45% at
year-end 2009/10 to 50% at year-end 2010/11) 

 -  Sale and lease-back of three ATR aircraft

 -  Agreement with GEM Global Yield Fund on a three-year equity commitment (put
on hold) 

 -  Changes to the Board of Directors and the Executive Board.

  -- After the end of the reporting period, the Group has entered into a
     subscription agreement with Mansvell Enterprises Ltd. which is subject to
     certain conditions. Under the agreement, 110.5 million new shares will be
     subscribed for through an expected injection of capital of approximately
     DKK 165 million in a directed share issue, subject to shareholder approval
     at an extraordinary general meeting to be held on 29 July 2011. Against
     that background and given the perspective of the new ownership, it is
     deemed appropriate to base the financial statements on a going-concern
     assumption.



For further information, please see attached translated Annual Report or
contact: 
Jacob Krogsgaard, CEO
Telefon: +45 50 45 46 54
E-mail: ir@cimber.dk

In the event of any discrepancy between the Danish Annual Report and the
English version, the Danish Annual Report shall prevail.


26.07.2011 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Cimber Sterling Group
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060196848
WKN:          
 
End of Announcement                             DGAP News-Service
 
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