Ryanair Q1 Profit Rises On Strong Easter - Quick Facts

(RTTNews) - Ryanair Holdings plc (RYA.L, RYAAY) and Subsidiaries reported first-quarter pretax profit of 223.6 million euros, compared to 88.5 million euros, prior year. Profit attributable to equity holders of parent was 196.8 million euros, compared to 78.1 million euros. Earnings per share, in euro cent, was 14.18 compared to 5.40. The company cautioned that the result was distorted by the timing of a very strong Easter in the first quarter with no holiday period in the prior year comparable.

Total operating revenues from continuing operations increased to 1.50 billion euros from 1.34 billion euros, last year. Total operating revenues increased by 11% primarily due to a 14% increase in scheduled revenues, driven by the 9% increase in average fare, due to the timing of Easter in this quarter and its absence in the prior year comparative along with a strong increase in load factor. Ancillary revenue was up 4%, in line with the growth in passenger numbers. Total revenue per passenger rose by 7%, primarily due to the strong growth in scheduled revenues.

Traffic grew to 24.3 million as load factors rose by 4% points to 86%.

The company said it is on track to deliver a strong first-half, during which traffic will grow by 3%, and fares will rise by 6% subject to late booking fares in Aug. and Sept.

Ryanair now expects full year traffic to grow by 5% to 86 million. The company said it is cautiously raising full year profit after tax guidance to a range of 620 million euros to 650 million euros, from the previous range of 580 million euros to 620 million euros. "This guidance, which is about a 21% rise over last year's net profit, is heavily, reliant upon the final outturn for H2 yields over which we currently have zero visibility," the company said.