Norwegian Air Shuttle reports 'best ever results in a year of strong international growth' in 2016

Norwegian Air Shuttle revenue up 15% - financial highlights:

• Three months ended 31-Dec-2016:
• • Revenue: NOK6102 million (EUR674.2 million), +14.7% year-on-year;
  • • Ancillary passenger: NOK927.1 million (EUR102.4 million), +19.7%;
  • Operating costs: NOK5428 million (EUR599.9 million), -2.8%;
  • • Fuel: NOK1437 million (EUR158.8 million), +19.8%;
    • Labour: NOK1091 million (EUR120.6 million), +26.5%;
  • Operating profit: NOK335.5 million (USD37.1 million), compared to a loss of NOK632.9 million (USD69.9 million) in p-c-p;
  • Net profit: NOK197.2 million (EUR21.8 million), compared to a loss of NOK373.4 million (EUR41.3 million) in p-c-p;
  • Passengers: 7.2 million, +17%;
  • Passenger load factor: 85.8%, +0.9 ppt;
  • Yield: NOK0.37 (EUR 4.1 cents), -14.0%;
  • Revenue per ASK: NOK0.32 (EUR 3.5 cents), -11.1%;
  • Cost per ASK: NOK0.42 (EUR 4.6 cents), -2.3%;
  • Cost per ASK excl fuel: NOK0.32 (EUR 3.5 cents), stable;
  • Average sector length: 1503 km, +8%;
• 12 months ended 31-Dec-2016:
• • Revenue: NOK26,055 million (EUR2802 million), +15.8%;
  • • Ancillary passenger: NOK3929 million (EUR422.5 million), +20.0%;
  • Operating costs: NOK22,938 million (EUR2467 million), +9.2%;
  • • Fuel: NOK5053 million (EUR543.4 million), -2.5%;
    • Labour: EUR3971 million (EUR427.1 million), +15.7%;
  • Operating profit: NOK1820 million (EUR195.8 million), +423%;
  • Net profit: NOK1135 million (EUR122.1 million), +361%;
  • Yield: NOK0.42 (EUR 4.5 cents), -4.5%;
  • Revenue per ASK: NOK0.36 (EUR 3.9 cents), -5.3%;
  • Cost per ASK: NOK0.41 (EUR 4.4 cents), -2.4%;
  • Cost per ASK excl fuel: NOK0.32 (EUR 3.4 cents), +3.2%;
  • Average sector length: 1473 km, +5%;
  • Total assets: NOK37,763 million (EUR4061 million);
  • Cash and cash equivalents:NOK2324 million (EUR249.9 million);
  • Total liabilities: NOK33,714 million (EUR3626 million). [more - original PR]

*Based on the average conversion rate at NOK1 = EUR0.110503 for 4Q2016
*Based on the average conversion rate at NOK1 = EUR0.107542 for 2016

Norwegian Air Shuttle: "We enter 2017 with the ambition to increase and strengthen our foothold in established markets, while simultaneously developing our route network in new parts of the world," Bjorn Kjos, CEO. Source: Company statement, 16-Feb-2017.