Vueling profits rise in 2Q2012, to report operating profit in FY2012

Vueling revenue up 29% - financial highlights:

• Three months ended 30-Jun-2012:
  • Total revenue: EUR297.0 million, +29.2% year-on-year;
    • Ancillary and other: EUR33.8 million, +34.2%;
  • Total costs: EUR284.9 million, +26.3%;
    • Fuel: EUR93.1 million, +39.1%;
  • Operating profit: EUR12.1 million, +187%;
  • Net profit: EUR7.7 million, +115%;
  • Passenger numbers: 3.9 million, +18.5%;
  • Load factor: 75.5%, +2.3 ppts;
  • Revenue per ASK: EUR 6.25 cents, +5.7%;
  • Cost per ASK: EUR 5.99 cents, +3.3%;
  • Cost per ASK excl fuel: EUR 4.07 cents, -0.3%;
  • Average stage length: 902km, +4.4%;
• Six months ended 30-Jun-2012:
  • Total revenue: EUR465.4 million, +30.4%;
    • Ancillary and other: EUR51.5 million, +23.6%;
  • Total costs: EUR480.2 million, +23.8%;
    • Fuel: EUR150.3 million, +38.8%;
  • Operating profit (loss): (EUR14.7 million), compared to a loss of EUR31.0 million in p-c-p;
  • Net profit (loss): (EUR8.8 million), compared to a loss of EUR19.6 million in p-c-p;
  • Passenger numbers: 6.5 million, +20.7%;
  • Load factor: 76%, +4.3 ppts;
  • Revenue per ASK: EUR 6.04 cents, +11.5%;
  • Cost per ASK: EUR 6.23 cents, +5.8%;
  • Cost per ASK excl fuel: EUR 4.31 cents, +0.8%;
  • Average stage length: 888 km, +2.3%;
  • Total assets: EUR820.7 million, +36.7% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: EUR156.8 million, +949% when compared to period ended 31-Dec-2011;
  • Total liabilities: EUR609.8 million, +69.9% when compared to period ended 31-Dec-2011. [more – original PR]

Vueling: “The company maintains its objective for 2012 of achieving year-on-year growth in activity of between 20% and 25%, maintaining the unit cost excluding fuel at levels similar to those of 2011. In addition, the company expects to obtain an operating profit in 2012.” Source: Company statement, 01-Aug-2012.

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