Ryanair reports strong profit growth in FY2015

Ryanair revenue up 12% - financial highlights for 12 months ended 31-Mar-2015:

• Revenue: EUR5654 million, +12.3% year-on-year;
• • Ancillary: EUR1394 million, +11.7%;
• Total operating costs: EUR4611 million, +5.3%;
• • Fuel: EUR1992 million, -1.0%;
  • Airport and handling charges: EUR712.8 million, +15.5%;
  • Route charges: EUR547.4 million, +4.9%;
  • Labour: EUR502.9 million, +8.5%;
• Operating profit: EUR1043 million, +58.4%;
• Net profit: EUR866.7 million, +65.8%;
• Passenger numbers: 90.6 million, +11%;
• Load factor: 88%, +5 ppts;
• Average fare: EUR47, +1%;
• Total assets: EUR12,185 million;
• Cash and cash equivalents: EUR1185 million;
• Total liabilities: EUR8150 million. [more - original PR]

Ryanair: "While our traffic growth this year will be strong, (up 10%), it would be foolish not to expect some irrational pricing response from competitors who cannot compete with our lowest costs and fares. Ryanair will remain vigorously "load factor active/price passive". Therefore, even with the benefit of lower oil, aircraft and financing costs we may suffer periods of fare/yield weakness especially during the H2 winter season. This is why our yield guidance remains cautious at broadly flat in H1 but down 4% to 8% in H2 for a forecast FY yield decline of 2%. If this decline proves accurate then we believe that lower unit costs in FY16 will still provide a 10% improvement in profits, which should (subject to H2 yields over which we have no visibility) rise to a range of EUR940m to EUR970m for the full year to March 2016." Source: Company statement, 26-May-2015.