Ryanair operating profit up 21% in 2QFY2013, raises full year guidance

Ryanair revenue up 15% - financial highlights:

• Three months ended 30-Sep-2012:
  • Operating revenue: EUR1822 million, +17%;
    • Ancillary: EUR297.9 million, +25%;
  • Operating costs: EUR1242 million, +15%;
    • Fuel: EUR581.1 million, +21%;
    • Airport and handling charges: EUR186.7 million, +14%;
  • Operating profit: EUR580.7 million, +21%;
  • Net profit: EUR496.8 million, +23%;
• Six months ended 30-Sep-2012:
  • Revenue: EUR3106 million, +15% year-on-year;
    • Ancillary: EUR583.8 million, +20%;
  • Operating costs: EUR2393 million, +16%;
    • Fuel: EUR1125 million, +24%;
    • Airport and handling charges: EUR353.0 million, +12%;
  • Operating profit: EUR712.7 million, +10%;
  • Profit after tax: EUR596 million, +10%;
  • Passenger numbers: 48.0 million, +7%;
  • Load factor: 84%, -1 ppt;
  • Average fare: EUR53, +6%;
  • Revenue per passenger: EUR65, +7%;
  • Total assets: EUR9375 million, +4.1% when compared to period ended 31-Mar-2012;
  • Cash and cash equivalents: EUR1196 million, -55.8% when compared to period ended 31-Mar-2012;
  • Total liabilities: EUR5625 million, -1.2% when compared to period ended 31-Mar-2012. [more - original PR]

Ryanair: "Our Q2 yield and fuel cost performance was better than we originally anticipated which has boosted our profitability. We are on target to grow traffic in FY13 by 4% to over 79m passengers. H2 traffic will be broadly flat as we ground up to 80 aircraft to limit the impact of high oil prices, high airport fees at Stansted and Dublin, and seasonally weaker demand and yields upon the business. We remain cautious about winter trading as we have little visibility on Q4 bookings or yields. Recession, competition and very low fare competition at new bases will constrain profitability during H2, although we now expect full year yields to rise by up to 4%. Notwithstanding these concerns, and given our H1 performance we feel it would be appropriate to raise our FY profit guidance from its previous range of EUR400m to EUR440m to a new range of EUR490m to EUR520m." Source: Company statement, 05-Nov-2012.