Wizz Air Holdings Plc · LSE:WIZZ
Wizz Air — Q1 2025 Earnings Presentation
11 slides from Wizz Air's earnings presentation, Aug 1, 2024
Slide 1: Wizz Air Holdings Plc Q1 F25 Results
WIZZ AIR HOLDINGS PLC Q1 F25 RESULTS 1 August 2024
Slide 2: Q1 F25 Highlights: Profit Impacted by One-Off and FX Costs
Q1 F25 | HIGHLIGHTS PROFIT IMPACTED BY ONE-OFF AND FX COSTS ➢ Q1 F25 net profit of €1.2m, in part reflecting a €27m FX headwind YoY ➢ Positives seen in pricing and cash generation, with Q1 RASK up 3.1% YoY, and leverage ratio falling below 4.0x ➢ Negatives from sub-optimal fleet mix from GTF-related
Slide 3: Q1 F25 Operational Performance
Q1 F25 | OPERATIONAL PERFORMANCE POSITIVE OPERATIONAL DELIVERY, DESPITE CURRENT SUBOPTIMAL FLEET MIX ➢ Available fleet count down 4.1% YoY but better daily utilisation and on-time performance ➢ A321 groundings reduce total current average line-of-flying fleet gauge to 219 from 225 (221 last year) ➢
Slide 4: P&L Review - Revenue Performance
Q1 F25 | P&L REVIEW - REVENUE PERFORMANCE POSITIVE RASK MOVEMENT YOY REFLECTING ACTIVE ROUTE MANAGEMENT P&L Summary Q1 F25 Q1 F24 Change Q1 F25 Q1 F24 Change Revenue (€m) 1,259.3 1,236.6 1.8% RASK 4.32 4.19 3.1% Ticket RASK 2.41 2.33 3.2% Fuel costs (€m) 459.9 443.7 3.7% Ancillary RASK 1.91 1.86 2.9
Slide 5: Q1 F25 Cost Performance
Q1 F25 | COST PERFORMANCE EX-FUEL UNIT COSTS IMPACTED BY AN AVERAGE OF 46 GTF GROUNDINGS IN Q1 ➢ Average fuel price down YoY but usage up due to fleet mix Q1 Q1 Q1 Q1 Ch Ch Ch and operational disruptions. Costs F25 F24 (abs) F25 F24 (abs) (%) (€m) (€m) CASK CASK ➢ Suboptimal fleet from P&W grounding
Slide 6: Q1 F25 Financial Performance: Liquidity
Q1 F25 | FINANCIAL PERFORMANCE LIQUIDITY REFLECTS BETTER EBITDA TO CASH CONVERSION, OFFSETTING MORE MODERATE CAPACITY GROWTH DUE TO TEMPORARY GROUNDINGS Gross cash* (in € Billions) Free cash flow (in € Millions) Net debt / EBITDAR 1.84 1.84 651 7.2x 1.79 571 -49% 0.11 0.11 542 0.11 5.2x 4.9x 1.69 4.
Slide 7: GTF Update: Improving Management of Disrupted Fleet
Q1 F25 | GTF UPDATE IMPROVING MANAGEMENT OF DISRUPTED FLEET ➢ 46 aircraft grounded due to GTF engine inspections at the end of June; 45 as of 26 July ➢ Peak aircraft groundings now expected to be 47 in September 2025, with this now the base case for forecasting over the next 18 months vs. the previo
Slide 8: Fleet Development: Secure, Long-Term Neo Fleet Plan
Q1 F25 | FLEET DEVELOPMENT SECURE, LONG-TERM NEO FLEET PLAN A321XLR A321neo A321ceo A320neo A320ceo ➢ 218 aircraft as of 30 Jun 2024 - 9 A321neos delivered 317 - 3 A320ceos dry leased (in fleet count) 451 423 15% 47 - 2 A320ceo redelivered 385 47 348 37 ➢ 4.3 years average fleet age 24 300 ➢ 8 one-o
Slide 9: F25 Net Profit Guidance Adjusted to €350m - €450m
F25 NET PROFIT GUIDANCE ADJUSTED TO €350M - €450M REFLECTS SOMEWHAT MILDER YIELDS, ONE-OFF COSTS, AND ATC CHALLENGES ➢ Moderate revenue pressure driven by close-in booking pricing challenge and competitive behavior ➢ F25 one-off wet lease commitments driving higher-than-expected costs and redundant
Slide 10: Appendix | Hedge Program
APPENDIX | HEDGE PROGRAM AS OF 26 JUL 2024 FUEL FX EURUSD EU/ UK ETS** 100% 65% 65% 23% 19% 19% F25 F26 F25 F26 F25 F26 9 months 12 months* 9 months 12 months* 9 months 12 months*** Weighted avg. ceiling, $854 /mt $843 /mt $1.12 $1.12 blended for ZCC and swaps Weighted avg. floor, $751 /mt $736 /mt
Slide 11: 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