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12-Jul-2019 10:22 AM

Norwegian reduces EBIT loss by 60% in 1H2019

Norwegian reported (11-Jul-2019) the following financial highlights:

  • Three months ended 31-Jun-2019:
    • Operating revenue: NOK12,182 million (EUR1254 million), +19.1% year-on-year;
      • Passenger: NOK9901 million (EUR1019 million), +19.4%;
      • Ancillary: NOK1850 million (EUR190.4 million), +14.7%;
    • Operating costs excluding lease, depreciation and amortisation: NOK9972 million (EUR1026 million), +15.8%;
      • Fuel: NOK3507 million (EUR285.0 million), +9.4%;
      • Labour: NOK1659 million (EUR170.2 million), +6.5%;
    • EBITDAR: NOK2210 million, (EUR227.4 million), +36.5%;
    • EBIT: NOK622.8 million (EUR64.1 million), +305%;
    • Net profit: NOK82.8 million (EUR8.5 million), -72.4%;
    • Yield: NOK0.42 (EUR 4.3 cents), +11%;
    • Revenue per ASK: NOK0.37 (EUR 3.8 cents), +13%;
    • Cost per ASK NOK0.42 (EUR 4.3 cents), +3%;
    • Cost per ASK excl fuel: NOK0.29 (EUR 3.0 cents), +2%;
    • Average sector length: 1909km, +5%;
  • Six months ended 31-Jun-2019:
    • Operating revenue: NOK20,173 million (EUR2074 million), +17.1%;
      • Passenger: NOK16,200 million (EUR1665 million), +17.3%;
      • Ancillary: NOK3209 million (EUR329.9 million), +13.6%;
    • Operating costs excluding lease, depreciation and amortisation: NOK17,876 million (EUR1838 million), +8.5%;
      • Fuel: NOK6285 million (EUR646.1 million), +15.1%;
      • Labour: NOK3423 million (EUR351.8 million), +6.7%;
    • EBITDAR: NOK2297 million, (EUR236.1 million), +211%;
    • EBIT (loss): (NOK835.8 million) (EUR96.2 million), -59.7%;
    • Net profit (loss): (NOK1407 million) (EUR144.6 million), compared to a profit of NOK254.0 million in p-c-p;
    • Yield: NOK0.38 (EUR 3.9 cents), +7%;
    • Revenue per ASK: NOK0.32 (EUR 3.3 cents), +6%;
    • Cost per ASK NOK0.43 (EUR 4.4 cents), -1%;
    • Cost per ASK excl fuel: NOK0.30 (EUR 3.1 cents), -2%;
    • Average sector length: 1867km, +4%; 
    • Total assets: NOK90,600 million (EUR9314 million);
      • Cash and cash equivalents: NOK1688 million (EUR173.5 million);
    • Total liabilities: NOK87,707 million (EUR9016 million). [more - original PR]

*Based on the average conversion rate at NOK1 = EUR0.1029 for the three months ended 31-Jun-2019
*Based on the average conversion rate at NOK1 = EUR0.1028 for the six months ended 31-Jun-2019

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