11-Feb-2016 10:47 AM

Virgin Australia Group in the black in 1HFY2016

Virgin Australia Group revenue up 12% - financial highlights for six months ended 31-Dec-2015:

  • Revenue: AUD2658 million (USD1921 million), +11.8% year-on-year;
    • Virgin Australia domestic: AUD1819 million (USD1315 million), +6.1%;
    • Virgin Australia international: AUD567 million (USD409.8 million), -0.3%;
    • Velocity: AUD154.8 million (USD111.9 million), +26.3%;
    • Tigerair Australia: AUD243.8 million (USD176.2 million);
  • Operating costs: AUD2565 million (USD1854 million), +7.8%;
    • Labour: AUD597.2 million (USD431.7 million), +9.3%;
    • Fuel: AUD561.1 million (USD405.6 million), -8.6%;
  • Segment EBIT (loss): AUD161.4 million (USD116.7 million), +197%;
    • Virgin Australia domestic: AUD130 million (USD94.0 million), +86.5%;
    • Virgin Australia international: (AUD30.8 million) (USD22.3 million), compared to a loss of AUD39.5 million (USD28.6 million) in p-c-p;
    • Velocity: AUD70.8 million (USD51.2 million), +56.6%;
    • Tigerair Australia: AUD13.9 million (USD10.0 million);
  • Profit before related income tax benefit and net finance costs: AUD93.1 million (USD67.3 million), compared to a loss of AUD17.4 million (USD12.6 million) in p-c-p;
  • Net profit: AUD62.5 million (USD45.2 million), compared to a loss of AUD47.8 million (USD34.6 million) in p-c-p;
  • Load factor:
  • Total assets: AUD5849 million (USD4228 million);
  • Cash and cash equivalents: AUD906.7 million (USD655.4 million);
  • Total liabilities: AUD4915 million (USD3552 million). [more - original PR]

*Based on the average conversion rate at USD1 = AUD1.3835

Virgin Australia Group: "Based on current market conditions, all fundamental business metrics are in place for the Group to report a profit for the 2016 financial year and deliver a Return on Invested Capital in line with its Cost of Capital. However, due to current market conditions, we are not able to provide more specific guidance at this time," John Borghetti, CEO. Source: Company statement, 11-Feb-2016.

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More