28-Aug-2012 9:39 AM

Virgin Australia Holdings reports turnaround to profitability in FY2012

Virgin Australia Holdings revenue up 20% – financial highlights for 12 months ended 30-Jun-2012:

  • Revenue: AUD3920 million (USD4044 million), +19.8% year-on-year;
    • Domestic: AUD2948 million (USD3042 million), +22.7%;
    • International: AUD1053 million (USD1087 million), +10.4%;
  • Total operating costs: AUD3814 million (USD3935 million), +16.0%;
    • Fuel: AUD1044 million (USD1077 million), +15.2%;
    • Labour: AUD841.4 million (USD868 million), +13.4%;
  • Profit before tax and net financial costs: AUD66.9 million (USD69.0 million), compared to a loss of AUD46.6 million (USD48.1 million) in p-c-p;;
  • Profit before tax: AUD27.2 million (USD28.1 million), compared to a loss of AUD94.8 million (USD97.8 million) in p-c-p;
  • Segment EBIT: AUD151.0 million (USD155.8 million), compared to a loss of AUD14.0 million (USD14.4 million) in p-c-p;
    • Domestic: AUD115.6 million (USD119.3 million), compared to a loss of AUD36.4 million (USD37.6 million) in p-c-p;
    • International: AUD35.4 million (USD36.5 million), +58.0%;
  • Net profit (loss): AUD22.8 million (USD23.5 million), compared to a loss of AUD67.8 million (USD70.0 million) in p-c-p;
    • Passenger numbers: 19.4 million, +4.3%;
      • Domestic: 16.9 million, +5.6%;
      • International: 2.5 million, -3.8%;
    • Load factor: 78.1%, -1.7 ppt;
      • Domestic: 79.0%, -1.0 ppt;
      • International: 77.4%, -2.2 ppts;
    • Yield: AUD 11.09 cents (USD 11.44 cents), +12.0%;
      • Domestic: AUD 13.07 cents (USD 13.49 cents), +12.2%;
      • International: AUD 7.87 cents (USD 8.12 cents), +8.1%;
    • Underlying cost per ASK: +4.5%;
    • Total assets: AUD3995 million (USD4122 million), +4.0%;
    • Cash and cash equivalents: AUD802.6 million (USD828 million), +9.7%;
    • Total liabilities: AUD3066 million (USD3163 million), +5.2%;
  • 1HFY2013 forecast:

*Based on the average conversion rate at USD1 = AUD0.9692 for the period

Virgin Australia Holdings: “Virgin Australia as delivered an improved result for the 2012 financial year, notwithstanding higher fuel prices. Given the uncertain economic environment we are unable to provide clear 2013 financial year guidance at this stage. With the Game Change Programme largely embedded, we are confident we have established a sound platform from which we can respond to changing market conditions," John Borghetti, CEO. Source: Company statement, 28-Aug-2012.

Want More News Like This?

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