30-Aug-2013 10:12 AM

Virgin Australia Holdings FY2013 result does not meet expectations

Virgin Australia Holdings revenue up 3% – financial highlights for 12 months ended 30-Jun-2013:

  • Revenue: AUD4020 million (USD4125 million), +2.6% year-on-year;
    • Domestic: AUD3054 million (USD3133 million), +3.6%;
    • International: AUD1121 million (USD1150 million), +6.4%;
  • Net operating costs: AUD4125 million (USD4232 million), +7.1%;
    • Fuel: AUD1126 million (USD1155 million), +7.9%;
    • Labour: AUD976.1 million (USD1002 million), +16.0%;
  • Profit (loss) before tax and net finance costs: (AUD104.2 million) (USD106.9 million), compared to a profit of AUD66.9 million (USD68.6 million) in p-c-p;
  • Segment EBIT (loss): (AUD36.7 million) (USD37.7 million), compared to a profit of AUD116.7 million (USD119.7 million) in p-c-p;
    • Domestic: (AUD44.4 million) (USD45.6 million), compared to a profit of AUD93.2 million (USD95.6 million) in p-c-p;
    • International: AUD7.7 million (USD7.9 million), -67.2%;
  • Net profit (loss): (AUD98.1 million) (USD100.7 million), compared to a profit of AUD22.8 million (USD23.4 million) in p-c-p;
  • Passenger numbers: 19.3 million, -0.5%;
    • Domestic: 16.7 million, -1.2%;
    • International: 2.6 million, +4.0%;
  • Load factor: 75.6%, -2.5 ppts;
    • Domestic: 75.1%, -3.9 ppts;
    • International: 76.4%, -1.0 ppt;
  • Yield: AUD 11.08 cents (USD 11.37 cents), -0.1%;
  • Total assets: AUD4426 million (USD4541 million);
  • Cash and cash equivalents: AUD580.5 million (USD595.6 million);
  • Total liabilities: AUD3386 million (USD3474 million). [more - original PR]

*Based on the average conversion rate at USD1 = AUD0.9746

Virgin Australia: “Given the uncertain economic environment we are unable to provide guidance for the 2014 financial year at this time, John Borghetti, CEO. Source: Company statement, 30-Aug-2013.