Wizz Air Holdings Plc · LSE:WIZZ
Wizz Air — H1 F25 Earnings Presentation
19 slides from Wizz Air's earnings presentation, Nov 7, 2024
Slide 1: H1 F25 Results
H1 F25 RESULTS 7 November 2024 © 2004 - 2024 Wizz Air Group
Slide 2: H1 F25 Highlights
H1 F25 HIGHLIGHTS © 2004 - 2024 Wizz Air Group 2
Slide 3: F25 Half Year Overview
F25 HALF YEAR OVERVIEW RASK up 1.4% YoY, reflecting the strength of our markets: • Network optimization, booking curve management and yield-up Actual bookings Revenue opportunities driven by a capacity constrained environment show no softening of H1 F25 profit of €315m • Wizz Air is carrying positiv
Slide 4: H1 F25 Operational Performance
H1 F25 | OPERATIONAL PERFORMANCE H1 continued to see GTF grounding impact ➢ H1 ASKs down 1% YoY given continuing GTF groundings and reduced aircraft gauge ➢ 44 average GTF groundings in Q2; period -end groundings at 41 aircraft ➢ Strong operational fleet utilization delivered at 13hrs 31mins in Q2,
Slide 5: H1 F25 Financial Review
H1 F25 FINANCIAL REVIEW © 2004 - 2024 Wizz Air Group 5
Slide 6: H1 F25 P&L Review – Revenue Performance
H1 F25 | P&L REVIEW – REVENUE PERFORMANCE Positive H1 net profit contribution of €315 million P&L Summary (€m) H1 F25 H1 F24 vs. PY H1 F25 H1 F24 vs. PY Revenue 3,066 3,052 +0.5% RASK (€ cents) 4.98 4.91 +1.4% Ticket RASK (€ cents) 2.87 2.83 +1.3% Fuel costs 948 966 -1.9% Ancillary RASK (€ cents) 2.
Slide 7: H1 F25 Cost Performance
H1 F25 | COST PERFORMANCE Cost trends continuing to be impacted by one-off items ➢ Increases in Staff, Maintenance and Disruption costs vs. H1 F25 H1 F24 vs. vs. caused by grounded aircraft are not fully offset by P&W H1 F25 H1 F24 Costs PY (CASK) (CASK) PY PY (€m) (€m) compensation (abs) (€ c) (€ c
Slide 8: H1 F25 Cash Flow
H1 F25 | CASH FLOW Strong free cash flow despite high one-off costs in H1 F25 H1 F25 EBIT / Adjusted free cash flow in EUR million -135 +7 +169 -73 720 +477 -442 443 447 EBIT D&A Unflown Trade Other Operating Net CAPEX* Lease FCF revenue receivables operating cash flow repayments** liability / payab
Slide 9: Balance Sheet
H1 F25 | BALANCE SHEET Robust liquidity levels, net of Jan 2024 bond repayment Gross cash ➢ High cash balance, despite one-off costs in EUR billion ➢ Grounded aircraft underperforming currently in terms of €500m bond repayment €270m in cash generation cash ➢ Disproportionately high spare engine rati
Slide 10: F25 Outlook
F25 OUTLOOK © 2004 - 2024 Wizz Air Group 10
Slide 11: F25 Revenue Forecast Remains Intact
F25 | REVENUE FORECAST REMAINS INTACT F25 revenue guidance underpinned by positive momentum into H2 Winter trading optimism Q3 Bookings running ahead of last year (Booked load factor change YoY as of 5 November 2024) ➢ Strong winter demand with Q3 running load factors currently up 2-3ppt YoY +2.9pp
Slide 12: F25 Cost Focus in Winter Season
F25 | COST FOCUS IN WINTER SEASON Proactively mitigating the impact of cost inflation across our network Focused on improving operational All wet leases returned as of the end efficiency with capacity rationalization, Building on our improvements in of October 2024 moderating exposure to Israel and
Slide 13: Revised Fleet Plan Delivers Balanced Growth
REVISED FLEET PLAN DELIVERS BALANCED GROWTH 23 delays to date in F26; Original fleet target of 300 Advised fleet with revised CY25 visibility* now currently at 277 Wizz 500 now anticipated in F32 ➢ 224 aircraft as of 30 September 2024 4.6 4.1 3.6 3.5 3.7 4.4 (ex-wet leases) Avg. fleet age 451 423 31
Slide 14: F26 Return to Growth
F26 | RETURN TO GROWTH Targeting market leadership in core markets; densification over diversification Focus on revenue and margin growth ➢ Platform is well positioned for growth, ramping up recruitment and operational scale at bases and in central support functions and systems ➢ Shifting focus to s
Slide 15: F25 Outlook
F25 | OUTLOOK Net profit guidance unchanged at €350 - 450 million ➢ Current booking trends underpin our guidance for ‘mid-single digit’ RASK improvement for this year ➢ Fuel CASK trending more favorably with 80% of H2 needs now hedged ➢ Ex-fuel cost inflation remains a F25 significant headwind given
Slide 16: Appendix | Hedge Program
APPENDIX | HEDGE PROGRAM As of 25 October 2024 FUEL FX EURUSD EU/ UK ETS* 100% 85% 80% 50% 50% 50% F25 F26 F25 F26 F25 F26 6 months 12 months 6 months 12 months 6 months 6 months Weighted avg. ceiling, blended for ZCC and $841 /mt $797 /mt $1.12 $1.13 swaps Weighted avg. floor, blended for ZCC and $
Slide 17: Appendix | Q2 F25 Performance
APPENDIX | Q2 F25 PERFORMANCE Operational headlines Q2 F25 Q2 F24 vs. PY (abs) vs. PY (%) P&L Summary (€m) Q2 F25 Q2 F24 vs. PY ASKs (bn) 32.4 32.6 -0.2 -0.7% Revenue 1,807 1,816 -0.5% Average stage length 1,697 1,730 -33 -1.9% Fuel costs 488 523 -6.6% Seats (m) 19.1 18.9 0.24 +1.2% Passengers (m) 1
Slide 18: Appendix | Q2 F25 Performance
APPENDIX | Q2 F25 PERFORMANCE Q2 F25 Q2 F24 vs. PY vs. Q2 F25 Q2 F24 vs. vs. Q2 F25 Q2 F24 Cost summary PY (CASK ) (CASK ) PY PY (€m) (€m) (abs) (€ c) (€ c) (abs) (%) RASK (€ c) 5.57 5.56 +0.2% Fuel 488 523 -35 1.51 1.60 -0.10 -6.0% Ticket RASK (€ c) 3.29 3.29 -0.1% Staff costs 143 131 12 0.44 0.40
Slide 19: Disclaimer
DISCLAIMER This presentation has been prepared by Wizz Air Holdings Plc (the “Company”). By receiving this presentation and/or attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. This presentation is intend