REG - Wizz Air Holdings - F24 Post-close Trading Statement

Wizz Air HoldingsAnnouncement

25/04/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240425:nRSY9380La&default-theme=true

RNS Number : 9380L  Wizz Air Holdings PLC  25 April 2024

Wizz Air Holdings Plc

F24 Post-close Trading Statement

Ticker:  WIZZ

Geneva, 25 April 2024: Wizz Air Holdings Plc ("Wizz Air" or the "Company"),
the fastest-growing and one of the most sustainable European low-cost airlines
today provides unaudited post-close trading update for the financial year
ended 31 March 2024 ("F24").

Wizz Air expects to report net income in the range of €350 - €370 million
for the full year, in line with guidance.

Total revenue is expected to be in the range of €5,050 - €5,100 million
reflecting stronger ticket revenue and pricing, partially offset by softer
ancillaries in H2 as a result of the combination of network-related impacts
from geopolitical events and resulting short window capacity redeployment.
Full year RASK (revenue per ASK) is expected to be mid-single digit per cent
higher vs last year, as guided.

Supported by higher utilization and on-time performance, operating expenses
grew slower than flown capacity, resulting in lower unit costs for the year.
Fuel CASK (cost per ASK), including the cost of carbon and fuel hedging, is
expected to be 23-24 per cent lower vs. last year. Ex-fuel CASK, which
includes the OEM compensation and gains from GTF spare engine financing in Q4,
is also expected to be 7-8 per cent lower vs. last year.

F24 was underpinned by sustained demand for air travel and active management
of ongoing external issues, including the GTF engine recall and the
Israel-Hamas war. On 31 March 2024, Wizz Air had 45 neo aircraft grounded due
to issues related to the GTF engine recall, with 40 GTF spare engines
supporting the removal program. Assumptions relating to GTF engine removals
shared previously remain unchanged.

During the year, Wizz Air took delivery of 39 new A321neo aircraft, and the
total fleet as of 31 March 2024 was 206 aircraft.

Outlook

Wizz Air reiterates its expectation of roughly flat year-on-year capacity
growth for H1 F25 and full F25. It is trading positively into the summer of
2024 with selling load factors and pricing trending higher year-on-year in the
first two fiscal quarters. Based on improved operational metrics, current
trading dynamics and continuing capacity constraints in the wider market, the
Company expects to expand operating margins, increase operational cash and
further reduce net debt in F25.

Currently, Wizz Air continues to operate flights to Israel, but is following
the security situation there closely.

 

József Váradi, Wizz Air Chief Executive commented:

 

"This year we have seen a continuation of the surge in passenger demand for
air travel that began immediately after the pandemic. While Wizz Air
benefitted from this sustained demand and reported record passenger numbers
throughout the year, we also mitigated new challenges, including a further
wave of geopolitical unrest, the Pratt & Whitney GTF engine recall and air
traffic control disruptions.

 

"Despite this, traffic increased consistently through the year and Wizz Air
returned to profitability in F24. This performance is a testament to our
robust and agile operating model that allows us to withstand pressures, while
simultaneously controlling costs and maintaining a relentless focus on
growth."

 

Notice of Results

 

Wizz Air will issue unaudited F24 results for the 12 months ended 31 March
2024 on Thursday, 23 May 2024 at 07:00 BST (08:00 CEST).

 

Wizz Air's management will host an in-person presentation for analysts and
institutional investors at 09:30 BST (10:30 CEST) at MHP Group's offices, 60
Great Portland Street, London, W1W 7RT, on the day. For those who are unable
to attend the presentation in person, a live webcast will also be available.

 

Participants can register for the webcast here:
https://wizzair.com/en-gb/information-and-services/investor-relations/general-information
(https://wizzair.com/en-gb/information-and-services/investor-relations/general-information)

 

Wizz Air will publish audited F24 results with its 2024 Annual Report on 14
June 2024.

 

 

- Ends -

 

ABOUT WIZZ AIR

Wizz Air, the fastest growing European ultra-low-cost airline, operates a
fleet of 207 Airbus A320 and A321 aircraft. A team of dedicated aviation
professionals delivers superior service and very low fares, making Wizz Air
the preferred choice of 62 million passengers in the financial year ending 31
March 2024. Wizz Air is listed on the London Stock Exchange under the ticker
WIZZ. The company was recently named the World's Top 5 Safest Low-Cost
Airlines 2024 by airlineratings.com, the world's only safety and product
rating agency, and named Airline of the Year by Air Transport Awards in 2019
and in 2023. Wizz Air has also been recognised as the "Most Sustainable
Low-Cost Airline" within the World Finance Sustainability Awards in 2021-2023
and the "Global Environmental Sustainability Airline Group of the Year" by the
CAPA-Centre for Aviation Awards for Excellence 2022-2023.

 For more information:

 Investors:  Zlatko Custovic, Wizz Air                                     +36 1 777 9407

 Media:      Tamara Vallois, Wizz Air                                      +36 1 777 9324

             James McFarlane / Eleni Menikou / Charles Hirst, MHP Group:   +44 (0) 20 3128 8100

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTEANLLADLLEFA