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easyJet reports strong profit growth in FY2013, 1HFY2014 forward booking in line with prior year

20-Nov-2013 12:52 PM

easyJet revenue up 11% – financial highlights for 12 months ended 30-Sep-2013:

  • Revenue: GBP4258 million, +10.5% year-on-year;
  • Costs: GBP3547 million, +6.7%;
    • Fuel: GBP1182 million, +2.9%;
    • Airports and ground handling: GBP1078 million, +12.9%;
  • Operating profit: GBP497 million, +50.2%;
  • Profit before tax: GBP478 million, +50.9%;
  • Net profit: GBP398 million, +56.1%;
  • Passenger numbers: 60.8 million, +4.0%;
  • Load factor: 89.3%, +0.6 ppt;
  • Revenue per ASK: GBP 5.74 pence, +7.4%;
  • Total cost per ASK: GBP 5.10 pence, +3.9%;
  • Total cost per ASK excl fuel: GBP 3.51 pence, +5.8%;
  • Average sector length: 1091 km, -0.5%;
  • Total assets: GBP4412 million;
  • Cash and cash equivalents: GBP1013 million;
  • Total liabilities: GBP2395 million. [more - original PR]

easyJet: “easyJet expects to grow capacity, measured in seats flown, by around 3.5% in the first half of the year and by 5% for the full year. Forward bookings for the first half of the 2014 financial year are in line with the prior year. The first quarter will be impacted by the tough comparison with the prior year due to strong post-Olympics demand in the UK in October 2012 and by a number of European governments imposing travel restrictions to Egypt. The situation in Egypt will reduce first half revenue per seat growth at constant currency by 0.7 percentage points, and the movement of Easter into the second half of the year will reduce first half revenue per seat growth at constant currency by a further 1.5 percentage points. easyJet therefore expects revenue per seat at constant currency for the first half of the financial year to be very slightly up on the prior year.” Source: Company statement, 19-Nov-2013.