Wizz Air Holdings reports record profitability in FY2016, forecasts 'significant' growth in FY2017

Wizz Air Holdings revenue up 16% - financial highlights for 12 months ended 31-Mar-2016:

• Revenue: EUR1429 million, +16.4% year-on-year;
• • Ancillary: EUR534.2 million, +23.2%;
• Total operating costs: EUR1194 million, +12.6%;
• • Fuel: EUR401.5 million, +1.2%;
  • Airport, handling and en-route charges: EUR343.1 million, +15.3%;
• Operating profit: EUR235.5 million, +40.8%;
• Net profit: EUR192.9 million, +5.3%;
• Passenger numbers: 20.0 million, +21%;
• Load factor: 88.2%, +1.5 ppt;
• Yield: EUR 4.64 cents, -4.1%;
• Revenue per ASK: EUR 4.10 cents, -2.2%;
• Cost per ASK*: EUR 3.43 cents, -5.2%;
• Cost per ASK: EUR excl fuel: EUR 2.2 7cents, +0.7%;
• Average aircraft stage length: 1538 km, -0.1%;
• Total assets: EUR1332 million;
• Cash and cash equivalents: EUR645.6 million;
• Total liabilities: EUR643.1 million. [more - original PR]

*Excluding exceptional items

Wizz Air Holdings: "Notwithstanding the fact that Easter fell one week earlier in 2016 than in 2015 pushing a higher proportion of this high yield traffic into FY 2016, we currently expect a further significant rise in the Group's net profit for the current financial year to 31 March 2017 ("FY2017") to a range of between EUR245 million and EUR255 million (excluding exceptional items). This guidance is heavily caveated by the revenue performance for the second half of FY2017, a period for which we currently have limited visibility," József Váradi, CEO. Source: Company statement, 25-May-2016.