- Ryanair Holdings plc (NASDAQ:RYAAY) reported FY22 revenue growth of 193% year-over-year to €4.8 billion.
- The company reported an FY22 net loss of €(355) million, compared to a €(1.05) billion loss a year ago.
- Scheduled revenues were up 156% Y/Y, reflecting a rise in traffic from 27.5 million customers to 97.1 million.
- Ancillary revenue increased 258.2% Y/Y to €2.15 billion due to a 253% rebound in traffic and a solid performance in priority boarding and reserved seating.
- Average fares fell 27% Y/Y to €27 due to COVID, Omicron & the Ukraine invasion.
- Load factor improved to 82%, compared to 71% in FY21.
- Operating costs increased 113% Y/Y to €5.27 billion, driven primarily by lower variable costs.
- Ryanair's net cash generated by operating activities for FY22 totaled €1.94 billion, compared to €2.45 billion cash used last year.
- The company mentions its fuel needs are ~80% hedged (65% jet swaps at c.$63bbl and 15% caps at c.$78bbl).
- Ryanair reported a cash balance of €2.7 billion and a net debt of €1.45 billion as of March 31, 2022.
- FY23 Outlook: The airline says that while bookings have improved in recent weeks, the booking curve remains much closer than was typical (pre-COVID).
- Ryanair plans to grow FY23 traffic to 165 million (up from 97 million in FY22 and 149 million pre-COVID).
- Despite limited visibility, 20% unhedged fuel, and the significant risks posed by the invasion of Ukraine and COVID, RYAAY hopes to return to reasonable profitability in FY23.
- "Over the coming 5-years we expect our traffic to grow by 50% to 225m p.a. This growth will be delivered at lower fares but on a fleet of new B737 "Gamechanger" aircraft, which offer 4% more seats, yet burns 16% less fuel and reduce noise emissions by 40%," commented Group CEO Michael O'Leary.
- Price Action: RYAAY shares are trading lower by 2.43% at $80.98 on the last check Monday.
- Photo Via Wikimedia Commons
