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Vueling losses widen in 4Q2012, positive full year result

28-Feb-2013 1:51 PM

Vueling revenue up 25% - financial highlights:

  • Three months ended 31-Dec-2012:
    • Revenue: EUR219.9 million, +24.9% year-on-year;
      • Ancillary and other: EUR20.8 million, +2.0%;
    • Total costs: EUR240.1 million, +23.5%;
      • Fuel: EUR72.4 million, +25.3%;
      • Handling: EUR32.7 million, +13.6%;
    • Operating profit (loss): (EUR20.3 million), compared to a loss of EUR18.4 million in p-c-p;
    • Net profit (loss): (EUR13.0 million), compared to a loss of EUR11.0 million in p-c-p;
    • Passenger numbers: 3.2 million, +15.2%;
    • Load factor: 76.4%, -0.2 ppt;
    • Average fare: EUR62.86, +11.0%;
    • Average ancillary and other revenue per passenger: EUR6.60, -10.8%;
    • Revenue per ASK: EUR 5.63 cents, +0.2%;
    • Cost per ASK: EUR 6.15 cents, -1.0%;
    • Cost per ASK excl fuel: EUR 4.29 cents, -1.6%;
  • 12 months ended 21-Dec-2012:
    • Revenue: EUR1103 million, +27.7%;
      • Ancillary and other: EUR118.7 million, +21.9%;
    • Total costs: EUR1069 million, +25.5%;
      • Fuel: EUR340.0 million, +34.1%;
      • Handling: EUR149.5 million, +17.0%;
    • Operating profit: EUR33.2 million, +192%;
    • Net profit: EUR28.3 million, +173%;
    • Passenger numbers: 14.8 million, +20.1%;
    • Load factor: 77.7%, +2.1 ppts;
    • Average fare: EUR66.50, +6.9%;
    • Average ancillary and other revenue per passenger: EUR8.02, +1.4%;
    • Revenue per ASK: EUR 6.23 cents, +.3%;
    • Cost per ASK: EUR 6.04 cents, +1.5%;
    • Cost per ASK excl fuel: EUR 4.14 cents, -1.0%;
    • Total assets: EUR683.2 million, +13.8%;
    • Cash and cash equivalents: EUR322.4 million, +2057%;
    • Total liabilities: EUR446.0 million, +24.3%;
  • 2013 forecast:
    • Capacity (ASKs): +10% to +15%;
      • Domestic: stable to +1%;
      • International: +20% to +25%’
    • Cost per ASK excl fuel: Maintain at 2012 levels. [more - original PR]

Vueling: “In 2013, Vueling plans to increase its capacity in Available Seat Kilometres (ASK) by between 10% and 15%, with greater emphasis on international markets. The company plans to maintain its ex-fuel unit costs per ASK in 2013 at similar levels to those in 2012. The significant international growth planned for 2013 involves a clear commitment towards Vueling becoming an important Europe-wide operator.” Source: Company statement, 27-Feb-2013.