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16-Nov-2011 1:22 PM

easyJet reports profit growth in FY2011

easyJet revenue up 16% – financial highlights for 12 months ended 30-Sep-2011:

  • Total revenue: GBP3452 million, +16.1% year-on-year;
    • Ancillary: GBP719 million, +25.9%;
  • Total costs: GBP3204 million, +15.0%;
    • Fuel: GBP917 million, +25.1%;
    • Labour: GBP407 million, +21.1%;
  • Operating profit*: GBP269 million, +54.6%;
  • Underlying profit before tax*: GBP248 million, +31.5%;
  • Net profit: GBP225 million, +86.0%;
  • Passenger numbers: 54.5 million, +11.8%;
  • Load factor: 87.3%, +0.3 ppt;
  • Average sector length: 1110 km, -1.2%;
  • Total revenue per ASK: GBP 4.98 pence, +5.4%;
  • Total costs per ASK: GBP 4.62 pence, +4.2%;
  • Costs per ASK excl fuel: GBP 3.30 pence, +1.2%;
  • Total assets: GBP4469 million, +11.6%;
  • Cash and cash equivalents: GBP1100 million, +20.6%;
  • Total liabilities: GBP2764 million, +10.5%;
  • 1HFY2012 forecast:
    • Capacity: Flat;
    • Cost per seat excl fuel and currency: +4%;
  • FY2012 forecast:

*Excludes GBP27 million of cost relating to the volcanic ash cloud and GBP7 million loss on disposal of A321 aircraft in 2010

easyJet: “With around 45% of winter seats now sold, in line with the prior year, first half passenger revenue per seat is expected to grow by mid-single digits with planned improvement in yields, bag charges and other ancillary revenues.” Company statement. Source: easyJet, 15-Nov-2011.

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