Ryanair Reports Q1 Results, Load Factor Improves To 73%

Ryanair Holdings plc RYAAY reported first-quarter revenue growth of 196% year-over-year to €371 million.
The company reported a Q1 net loss of €(273) million, compared to a €(185) million loss a year ago.
Scheduled revenues were up 91% Y/Y, reflecting a rise in traffic from 0.5 million customers to 8.1 million.
Ancillary revenues increased to €179 million (+629% Y/Y), reflecting a 7.6 million rebound in traffic and a solid performance in priority boarding and reserved seating.
Load factor improved to 73%, compared to 61% in 1Q21.
Operating costs increased 116% Y/Y to €675 million, driven by variable costs.
Ryanair’s net cash generated by operating activities year-to-date totaled €594.2 million, compared to €450.3 million cash used last year.
The company mentions its fuel requirements are just under 60% hedged for FY22 at $565 per metric tonne and approx. 35% hedged for FY23 at $600.
Ryanair reported a cash balance of €4.06 billion and a net debt of €1.66 billion as of June 30, 2021.
Outlook: Ryanair said FY22 continues to be challenging, with Covid-19 travel restrictions prolonging uncertainty.
It believes that FY22 traffic has improved to 90 million to 100 million customers and expects that the likely outcome for FY22 is somewhere between a small loss and breakeven.
Price Action: RYAAY shares closed at $104.52 on Friday.

Overview Rating:

Good

0100

Earnings Calendar