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Vueling profits plummet in 2Q2011

27-Jul-2011 11:50 AM

Vueling revenue up 9% - financial highlights:

  • Three months ended 30-Jun-2011:
    • Total revenue: EUR229.8 million, +9% year-on-year;
      • Ancillary: EUR25.2 million, +11%;
    • Total costs: EUR225.6 million, +19%;
      • Fuel: EUR66.9 million, +44%;
      • Handling: EUR33.8 million, +10%;
    • EBIT: EUR4.2 million, -80%;
    • Profit before tax: EUR5.1 million, -73%;
    • Net profit: EUR3.6 million, -73%;
    • Passenger numbers: 3.3 million, +16%;
    • Load factor: 73%, +1 ppt;
    • Average fare: EUR62.43, -6%;
    • Revenue per ASK: EUR 5.91 cents, -2%;
    • Cost per ASK: EUR 5.80 cents, +7%;
    • Cost per ASK excl fuel: EUR 4.08 cents, -0.4%;
    • Average sector length: 864 km, -2%;
  • Six months ended 30-Jun-2011:
    • Total revenue: EUR356.9 million, +15;
      • Ancillary: EUR41.6 million, +4%;
    • Total costs: EUR387.9 million, +13%;
      • Fuel: EUR108.3 million, +34%;
      • Handling: EUR57.4 million, +5%;
    • EBIT (loss): (EUR31.0 million), compared to a profit of EUR8.2 million in p-c-p;
    • Net profit (loss)): (EUR19.6 million), compared to a profit of EUR7.1 million;
    • Passenger numbers: 5.3 million, +6%;
    • Load factor: 72%, +0.5 ppt;
    • Average fares: EUR58.97, -5%;
    • Revenue per ASK: EUR 5.46 cents, -2%;
    • Cot per ASK: EUR 5.93 cents, +9%;
    • Cost per ASK excl fuel: EUR 4.28 cents, +3%;
    • Average sector length: 868 km, -2%. [more]

Vueling: “In the second half of the year, the company expects to maintain a level of activity in the winter season similar to that of 2010, which would lead to a 10% increase in traffic for 2011 as a whole compared with last year. With regard to costs, the company expects to maintain a similar unit cost level to that of last year excluding fuel,” Company statement. Source: Vueling, 26-Jul-2011.