Jet2 plc (JET2) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to our investor and analyst conference call, our first audio cast. I'm Steve Heapy, CEO of Jet2 PLC, and I'm joined today by Gary Brown, our group CFO. We're going to take you through the highlights of the results and then talk about the financial performance of the group and then give you an update on our strategy and then we'll open up the floor to questions from people both in the room and remotely. So, record passenger numbers, record revenue and record profitability. Another year of record results. Very happy and very proud of them. Passengers, nearly 20 million at 12% up. Revenue, £7.2 billion. That was 15% up. And profits, record profits again, 11% up. Group PBT, pre-FX and tax, £578 million. We've made a lot of investments during the year. We opened Liverpool base last year, four aircraft, that's increased to five aircraft for this summer, performing well. We've launched Bournemouth middle of February this year and we launched Luton on the 1st of April. So that's three new bases in the last 14 months, all performing to expectations. We've been able to do that because of our continued investment in the fleet. We have 14 A321neos in the fleet. The A321neo with the CFM engine variant is a very economical, very green and quiet aircraft. We've got 146 on order and nine leased aircraft. That's a total of 155, 14 in the fleet, with another 10 to arrive during this year. Financial resilience, very strong balance sheet. We ended the year with 1.1 billion of our own cash. That's total cash net customer cash because, of course, customer cash isn't ours. And we posted earnings per share of 213.1 pence per share. Shareholder returns, we've announced a dividend of 12.1 pence, final dividend, and that's an increase of 13% on the previous year...