Ryanair reports 'modest' operating profit in 1QFY2016
Ryanair revenue up 2% - financial highlights for three months ended 30-Jun-2016
- Revenue: EUR1687 million, +2% year-on-year;
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- Ancillary: EUR443.4 million, +10%;
- Total operating costs: EUR1381 million, +1%;
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- Fuel: EUR518.4 million, -7%;
- Airport and handling charges: EUR241.4 million, +4%;
- Operating profit: EUR306.8 million, +6%;
- Profit before tax: EUR256 million, +4%;
- Net profit: EUR255.5 million, +4%;
- Passenger numbers: 31.2 million, +11%;
- Load factor: 94%, +2 ppts;
- Average fare: EUR40, -10%;
- Total assets: EUR11,236 million;
- Cash and cash equivalents: EUR1033 million;
- Total liabilities: EUR7501 million. [more - original PR]
Ryanair: "We are, on average, 1% better booked for Q2 than at this time last year albeit at significantly lower fares. We expect load factor will be similar to last year at 93%. We now believe our FY traffic will grow by 10% to 117m customers (up 1m on previous guidance). Average fares on close-in bookings have been adversely impacted by ATC strikes, terrorist events and weaker sterling post Brexit. As a result, we expect Q2 fares to fall by at least 6% (H1: -8%). This outcome remains heavily dependent on close-in bookings for August and September. We have little visibility over W16 fares but see no reason-yet-to alter our guidance of -10% to -12% in H2. If there is any movement in these numbers it is more likely to be towards the downside." Source: Company statement, 25-Jul-2016.