Ryanair reports better than expected 3QFY2012, raises FY forecast

Ryanair revenue up 13% - financial highlights for three months ended 31-Dec-2011:

• Revenue: EUR844 million, +13% year-on-year;
  • Ancillary: EUR177.0 million, +5.9%;
• Total operating costs: EUR815.0 million, +9.2%;
  • Fuel: EUR333.6 million, +17.6%;
  • Airport and handling charges: EUR121.1 million, +5.9%;
  • Route charges: EUR99.7 million, +4.7%;
  • Labour: EUR92.3 million, +3.4%;
• Operating profit from continuing operations: EUR29.4 million, compared to a loss of EUR0.3 million in p-c-p;
• Net profit: EUR14.9 million, compared to a loss of EUR10.3 million in p-c-p;
• Passenger numbers: 16.7 million, -1.8%;
• Load factor: 81%, -2 ppts;
• Revenue per passenger: EUR51, +15%;
• Average fare: EUR40, +17%;
• Total assets: EUR8299 million, -3.5% when compared to period ended 31-Mar-2011;
• Cash and cash equivalents: EUR1273 million, -37.2% when compared to period ended 31-Mar-2011;
• Total liabilities: EUR5043 million, -10.6% when compared to period ended 31-Mar-2011;
• FY2012 forecast:
  • Profit: EUR480 million, +9.1% compared to previous forecast;
  • Passenger numbers: 75 million, +4% year-on-year (-3% in 2HFY2012);
  • Average fare: +14% year-on-year. [more - original PR]

Ryanair: "Our Q3 Net Profit of EUR15 million was slightly ahead of guidance due to a combination of benign weather which caused fewer flight cancellations and significant de-icing savings, and a better performance on yields reflecting our planned winter capacity cuts, longer sectors, and higher competitor fares/fuel surcharges. Should these positive Q3 trends continue into Q4, we now expect our full year profit will exceed previous guidance (of EUR440 million) and rise to EUR480 million," Michael O'Leary, CEO. Source: Ryanair, 30-Jan-2012.