Norwegian Air Shuttle operating profit down 23% in 3Q2012
Norwegian Air Shuttle revenue up 25% - financial highlights for three months ended 30-Sep-2012:
- Total revenue: NOK4224 million (EUR3376 million), +25%;
- Ancillary: NOK429 million (EUR58.0 million), +17%;
- Operating costs: NOK3126 million (EUR422.9 million), +44%;
- Fuel: NOK1070 million (EUR144.7 million), +20%;
- Labour: NOK539.6 million (EUR73.0 million), +17%;
- Operating profit: NOK707.6 million (EUR95.7 million), -23%;
- Net profit: NOK628 million (EUR84.9 million), +27%;
- Passenger numbers: 5.2 million, +13%;
- Load factor: 82%, -2 ppts;
- Yield: NOK0.58 (EUR 7.84 cents), +8%;
- Revenue per ASK: NOK0.48 (EUR 6.49 cents), +5%;
- Cost per ASK: NOK0.44 (EUR 5.95 cents), +19%;
- Cost per ASK excl fuel: NOK0.30 (EUR 4.06 cents), +31%;
- Total assets: NOK10,909 million (EUR1475 million), +21% when compared to period ended 31-Dec-2011;
- Cash and cash equivalents: NOK1735 million (EUR234.6 million), +57% when compared to period ended 31-Dec-2011;
- Total liabilities: NOK8530 million (EUR1154 million), +21%;
- FY2012 forecast:
- Capacity (ASKs): +18%;
- FY2013 forecast:
- Capacity: +20%. [more - original PR]
*Based on the average conversion rate at EUR1 = NOK7.3933 for the period
Norwegian Air Shuttle: "The demand for travelling with Norwegian and advance bookings have been satisfactory entering the third quarter of 2012. Norwegian will continue to take advantage of its increasing competitive power realized through continuous cost cutting, and from introducing larger aircraft (737-800Ws), with a lower operating cost. Going forward, the Company expects continued competitive pressure. Assuming a fuel price of USD 950 per ton and USD/NOK 5.75 for the year 2013 (excluding hedged volumes) and with the currently planned route portfolio, the Company is targeting a unit cost (CASK) in the area of NOK 0.42 - 0.43 for 2013," Bjørn Kjos, CEO. Source: Company statement, 25-Oct-2012.