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Ryanair revenue up 2%, operating profit soars 300%

2-Jun-2010 2:47 PM

Ryanair revenue up 2% - financial/traffic highlights for the 12 months ended 31-Mar-2010:

  • Revenue: EUR2,988 million, +1.6% year-on-year;
    • Ancillary: EUR664 million, +11%;
  • Operating costs: EUR2,586 million, -9.2%;
    • Fuel: EUR893.9 million, -29%;
    • Airport & handling charges: EUR459.1 million, +3.5%;
    • Route charges: EUR336.3 million, +17.3%;
    • Labour: EUR335.0 million, +8.3%;
  • Operating profit: EUR402.1 million, +334.2%;
  • Net profit: EUR305.3 million, compared to a loss of EUR169.2 million in p-c-p;
  • Passenger numbers: 66.5 million, +14%;
  • Load factor: 82%, +1 ppt;
  • Air fares: EUR35, -13%;
  • Unit costs: -19%;
  • Unit costs excl fuel: -3%;
  • Total revenue per passenger: EUR45, -11%;
  • FY2011 forecast:
    • Fuel cost: +EUR300 million;
    • Net profit: +10% to +15%;
    • Passenger numbers: 73.5 million, +11%;
    • Costs per passenger: +4%;
    • Yields: +5% to +10%. [more]

Ryanair: “Subject to no further air space closures and an early return to normal bookings, we expect airfares (which fell 13% last year) to rise by between 5% to 10% due to the positive impact of our new routes and bases. Some of these, such as Faro and Malaga, are already producing higher fares during the summer although they will lead to a 10% increase in sector length. Q1 will be adversely impacted by weaker yields in May and June due to the volcanic ash disruptions, and the inclusion of part of Easter revenues in the prior period, as a result Q1 Net Profits are expected to be slightly lower than last year. Overall we expect costs per passenger to rise by 4% in 2010/11 (sector length adjusted they will fall by 6%). If as we expect, higher yields offset increased fuel and other operating costs, then profits (excluding exceptional costs from the recent volcanic ash disruptions) for the coming year should rise by between 10% to 15% to a range of approx. EUR350 million to EUR375 million,” Company statement. Source: Ryanair, 01-Jun-2010.