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Ryanair operating profit increase in FY2013, forecasts growth in FY2014

21-May-2013 2:32 PM

Ryanair revenue up 11% - financial highlights for 12 months ended 31-Mar-2013:

  • Revenue: EUR4884 million, +11.2% year-on-year;
    • Ancillary: EUR1064 million, +20.1%;
  • Total operating costs: EUR4166 million, +12.4%;
    • Fuel: EUR1886 million, +18.3%;
    • Airport and handling charges: EUR611.6 million, +10.4%;
  • Operating profit from continuing operations: EUR718.2 million, +5.1%;
  • Profit after tax: EUR569.3 million, +1.6%;
  • Passenger numbers: 79.3 million, +5%;
  • Load factor: 82%, stable;
  • Total assets: EUR8943 million, -0.6%;
  • Cash and cash equivalents: EUR1241 million, -54.2%;
  • Total liabilities: EUR5670 million, -0.4%;
  • FY2014 forecast:
    • Passenger numbers: 81.5 million, +3%;
    • Profit: EUR570 million to EUR600 million. [more - original PR]

Ryanair: “We expect traffic in FY.14 to grow by 3% to 81.5m. Growth will be slower in H1 at approx. 2%, but rise to approx. 5% in H2 as we ground fewer winter aircraft (up to 60) compared to prior years. Unit costs will increase primarily due to rising oil prices, a 3% growth in sector length, and unjustified higher Eurocontrol and Spanish airport charges. Due to lower yields and higher fuel costs Q1 Net Profit will be lower than last year due to the timing of Easter (which boosted Q4 revenues) and its presence in the prior year Q1 comparable. With almost zero yield visibility into H2 and the EU wide recession, we expect that there will continue to be downward pressure on yields which will dampen full year profit growth. We expect modest yield and traffic growth for the full year to be partly offset by higher oil and Eurocontrol costs resulting in another year of profit growth in FY’14 which - subject to winter yield outturns - should increase to a range of between EUR570m to EUR600m.” Source: Company statement, 20-May-2013.