Virgin Australia Holdings reports 'strong' underlying EBIT in FY2016, expects momentum to continue

Virgin Australia Holdings up 6% - financial highlights for 12 months ended 30-Jun-2016:

• Total revenue: AUD5021 million (USD3658 million), +5.7% year-on-year;
• • Virgin Australia domestic: AUD3446 million (USD2510 million), +4.1%;
  • Virgin Australia international: AUD1016 million (USD740.3 million), -8.6%;
  • Velocity: AUD327.6 million (USD238.6 million), +37.4%;
  • Tigerair Australia: AUD475.9 million (USD346.7 million), +67.5%;
• Operating costs: AUD5279 million (USD3845 million), +9.9%;
• • Labour: AUD1158 million (USD843.4 million), +3.5%;
  • Fuel: AUD1019 million (USD742.2 million), -14.5%;
• Segment EBIT: AUD210.6 million (USD153.4 million), +220%;
• • Virgin Australia domestic: AUD162.0 million (USD118.0 million), +45.8%;
  • Virgin Australia international: (AUD48.8 million) (USD35.5 million), compared to a loss of AUD68.9 million (USD57.6 million) in p-c-p;
  • Velocity: AUD139.7 million (USD101.8 million), +72.0%;
  • Tigerair Australia: (AUD2.2 million (USD1.6 million), compared to a loss of AUD8.6 million (USD7.2 million) in p-c-p;
• Net profit (loss): (AUD224.7 million) (USD163.7 million), compared to a loss of AUD93.8 million (USD78.5 million) in p-c-p;
• Total assets: AUD6041 million (USD4401 million);
• Cash and cash equivalents: AUD1124 million (USD818.6 million);
• Total liabilities: AUD5142 million (USD3746 million). [more - original PR]

*Based on the average conversion rate at AUD1 = USD0.728459 for FY2016
*Based on the average conversion rate at AUD1 = USD0.836614 for FY2015
^Velocity Frequent Flyer Group was established on 22-Oct-2014
~Tigerair Australia FY2015 results are from 17-Oct-2014 to 30-Jun-2015

Virgin Australia Holdings: "Based on current business performance, the Group's positive momentum is expected to continue. However, due to market uncertainty, we are unable to provide further detail at this time," John Borghetti, CEO. Source: Company statement, 05-Aug-2016.