Wizz Air Holdings Plc · LSE:WIZZ
Wizz Air — Q3 2025 Earnings Presentation
18 slides from Wizz Air's earnings presentation, Jan 30, 2025
Slide 1: Wizz Air Holdings Plc Q3 F25 Results
WIZZ AIR HOLDINGS PLC | @3 F25 RESULTS 30 January 2025 —>
Slide 2: F25 Overview
F25 | OVERVIEW • Revenue 11% higher; ticket RASK up 15% and ancillary RASK up 9.6% YoY Positive Q3 demand pricing Q3 Revenue: • Q3 operating loss of - €76m is 58% lower YoY; net loss of €241m heavily trends: record 15.5m pax distorted by - €160m unrealized FX loss (FX hedging approved and to be impl
Slide 3: F25 full-year guidance adjusted for FX and short-term costs
F25 full-year guidance adjusted for FX and short-term costs Prior guidance of €350-450m updated to “adjusted guidance” of €250–300m before unrealized FX losses; Reported F25 full year NPAT likely to be in the range of €125m –175m at current FX rates Ex-Fuel 01. RASK 02. CASK 03. Capacity 04. Tax Mai
Slide 4: Full year profit bridge
Full year profit bridge Full year net profit bridge, looking through unrealized FX gain / loss Comments (EURm) Looking through the unrealized FX loss 315 for F25 (250m – • Reducing net profit guidance range to -81 300m) 250m to 300m at same FX rate as at H1 (1.12 USD / EUR) 234 • At current rates (1
Slide 5: Q3 F25 Strong RASK performance; significant FX impact
Q3 F25| Strong RASK performance; significant FX impact P&L Summary (€m) Q3 F25 Q3 F24 YoY RASK (€ cents) Q3 F25 Q3 F24 YoY Passenger revenue 626 554 13% Ticket 2.05 1.79 +15% Ancillary revenue 551 511 8% Ancillary 1.81 1.65 +10% Total RASK 3.86 3.43 12.50% Total Revenue 1,177 1,065 11% Load Factor 9
Slide 6: Q3 F25 Groundings continue to impact cost
Q3 F25 | Groundings continue to impact cost Q3 F25 Q3 F24 YoY Q3 F25 Q3 F24 YoY ➢ P&W compensation continues to fall short of covering indirect Cost Summary (in €m) CASK (€c) CASK (€c) costs, such as the unit cost impact caused by a 15% YoY drop in ASK production per aircraft Fuel 417 507 -18% 1.37
Slide 7: Active cost management
Active cost management Diagnosis Actions • Three contributing factors: airport mix, price and • Network design to improve airport mix Airports & Handling volume • P&W grounding improvement and fleet growth Improvement opportunity • 14% total increase in passenger charges across will improve volume,
Slide 8: Continued positive EBIT to FCF conversion
Continued positive EBIT to FCF conversion Q3 F25 EBIT to FCF bridge Comments (EURm) 91 F25 trend continues -49 • Depreciation & Amortization, albeit high YoY due to grounded aircraft, adds back +144 +17 significant value as this is non-cash, -68 helping improve cash flow • Other Operating Cash Flow
Slide 9: Cash in line with prior year, despite P&W groundings
Q3 F25| Cash in line with prior year, despite P&W groundings Restricted cash Free cash 1.86 1.84 €500m bond 1.84 repayment 0.09 [1.77*] 0.11 0.11 1.69 €171m PDP loan repayment 0.10 1.59 1.60 1.77 1.73 1.73 0.09 0.11 1.59 1.51 1.48 F24 Q2 F24 Q3 F24 Q4 F25 Q1 F25 Q2 F25 Q3 * Adjusted cash balance pri
Slide 10: Debt & coverage ratios to continue to improve
Debt & coverage ratios to continue to improve Debt grows with fleet growth Financial debt rapidly retiring Highlights 8.4 1,290 7.5 0.1 40 • We lease our aircraft, so as our fleet grows, 6.8 0.3 2.8 250 1,003 so does our total lease debt 6.2 0.8 40 5.3 1.0 2.5 257 815 40 • We are repaying our non-le
Slide 11: Engine update: compensation support deal secured
Engine update: compensation support deal secured ➢ New commercial support agreement with Pratt & Whitney agreed at end of 2024, covering a two-year term for calendar years 2025 and 2026 ➢ The compensation package covers direct costs associated with aircraft that have been grounded or are expected to
Slide 12: Adjusted deliveries underpins managed capacity growth
Adjusted deliveries underpins managed capacity growth Revised Airbus schedule sees 75 New plan delivers 10% 3yr fleet CAGR to F28 before fewer deliveries than planned by F28 accounting for return to service of grounded aircraft fewer ➢ Current F25 final fleet count forecast at 230 vs 227 in Average
Slide 13: Core market growth requires ~300 aircraft by 2030
Core market growth requires ~300 aircraft by 2030 ➢ Wizz could deploy all 194 aircraft to be delivered by end F30 in its core markets given the lack of competitor growth CEE’s propensity to travel to increase by With an average GDP multiplier of 3.2x, CEE 70% by 2033 to 1.15 trips per capita markets
Slide 14: Muted competition expected out to F30 due to supply issues
Muted competition expected out to F30 due to supply issues Net annual additions to Wizz and Ryanair A unique competitive situation fleets over the next 5 years Ryanair 194 Wizz ➢ Ryanair remains Wizz Air’s main competitor, with a network overlap at broadly 60%, of which roughly half is direct (airpo
Slide 15: Densification should deliver revenue & cost benefits
Densification should deliver revenue & cost benefits ➢ Summer 2025 will see an additional 8% of our 50%+ of Aug '25 routes at a daily or above frequency network made up of routes with daily or greater Weekly FRQ Aug-14 Aug-19 Aug-20 Aug-22 Aug-23 Aug-24 Aug-25f YoY ppts vs frequencies ppts 2019 <=2x
Slide 16: F25 Summary
F25 | SUMMARY F25 significantly distorted by Pratt & Whitney engine Heightened unit cost issue pressure across cost lines GTF cost headwind will unwind over the next two Engine selection decision years, with the pending engine selection deal clarify expected before F25 year timing end Inflection poi
Slide 17: Thank you
WL wizzair.com THANK YOU
Slide 18: Appendix: Hedge program
APPENDIX | Hedge program As of 20 January 2025 FUEL FX EURUSD EU/UK ETS 82% 77% 100% 56% 53% 71% 6% 6% F25 3mths F26 F27 F25 3mths F26 F27 F25 3mths F26 Weighted average ceiling $838/mt $792/mt $757/mt 1.12 1.13 1.09 Weighted average floor $745/mt $712/mt $687/mt 1.07 1.09 1.05 © 2004 - 2025 Wizz Ai