Business
Q1 Interim Management Statement
Q1 Interim Management Statement.
About this update from Wizz Air Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6723E Wizz Air Holdings PLC 20 July 2016 \n\nRECORD Q1 PROFITABILITY ON 18% PASSENGER GROWTH \n \nLSE: WIZZ.LN\n \nGeneva, 20 July 2016: Wizz Air Holdings Plc (\"Wizz Air\" or \"the Company\"), the largest low-cost airline in Central and Eastern Europe1, today issues an unaudited interim management statement for the three months to 30 June 2016 (\"first quarter\", \"Q1\" or \"Q1 F17\"). \n \n\n\n\n\nThree months to 30 June\n\n\n2016\n(million)\n\n\n2015\n(million)\n\n\nChange\n\n\n\n\nPassengers carried\n\n\n5.8\n\n\n4.9\n\n\n+17.9%\n\n\n\n\nRevenue (€)\n\n\n364.9\n\n\n332.5\n\n\n+9.8%\n\n\n\n\nProfit before income tax (€)\n\n\n52.3\n\n\n34.4\n\n\n+52.2%\n\n\n\n\nReported Net Profit (IFRS) (€)\n\n\n50.7\n\n\n32.9\n\n\n+54.2%\n\n\n\n\nUnderlying Net Profit2 (€)\n\n\n38.6\n\n\n33.9\n\n\n+13.9%\n\n\n\n\nRECORD Q1 PROFITABILITY AND STRONG BALANCE SHEET \n· Total revenue increased 9.8% in Q1 to €364.9 million:\no Ticket revenues increased 3.0% in Q1 to €212.0 million.\no Ancillary income grew 20.8% in Q1 to €152.9 million.\n· Reported net profit (IFRS) was a record €50.7 million in Q1, a year on year increase of 54.2%. \n· Underlying net profit was a record €38.6 million in Q1, a year on year increase of 13.9%. \n· Total cash at the end of June 2016 was €827.7 million of which €707.1 million was classified as free cash.\nSTRONG OPERATING PERFORMANCE ACROSS KEY METRICS\n· Total unit costs fell by 10.0% to 3.19 euro cents per ASK3 in Q1. \n· Ex-fuel unit costs increased 2.3% year on year to 2.26 euro cents per ASK in Q1 entirely due to foreign currency gains in the prior year on prepayments returned on aircraft deliveries.\n· Fleet expansion with three A321 aircraft added during the quarter, increasing fleet to 70 aircraft at the end of Q1. \n· Average aircraft age of 4.1 years gives Wizz Air one of the youngest fleets of any major European airline.\n· Wizz Discount Club membership exceeded 915,000 by the end of Q1, year-on-year growth of 47.6%.\nMARKET LEADING POSITION IN CENTRAL AND EASTERN EUROPE\n· &n...