WIZZ - Ticker AI Digest

TR1 Buy

Wizz Air Holdings Plc released its unaudited results for the six months ended September 30, 2024. The company reported a slight increase in total revenue of €3,066.1 million compared to the same period last year. The companys net profit decreased by 21.3% to €315.2 million. Wizz Airs total cash increased by 16.9% to €1,858.1 million, while its net debt remained stable at €4,763 million. The companys <mark style="background-color:yellow">EBIT</mark>DA decreased to €826.0 million, reflecting the impact of grounded aircraft and one-off wet-leased aircraft during the summer peak period. The companys operating profit decreased by 33.2% to €349.2 million due to lower EBITDA and higher depreciation costs. Wizz Airs load factor was 92.4%, with a total of 33.3 million passengers carried during the first half of the financial year. The companys total unit revenue (RASK) increased by 1.4% to €4.98 cents. Wizz Airs cost per available seat kilometer (CASK), excluding fuel, increased by 15.4% to €3.00 cents due to inefficiencies caused by grounded aircraft and network and crew costs. The companys average aircraft stage length decreased by 1.9% compared to the previous year. Wizz Airs average revenue per passenger (net fare) decreased by 0.4% to €92.2. The companys fuel expenses decreased by 1.9% due to lower capacity and favorable fuel prices. Distribution and marketing costs decreased by 3.1%, while maintenance, materials, and repair costs increased by 16.8% due to a larger fleet and more maintenance events. Airport, handling, and en-route charges increased due to higher pricing and shorter average stage length. Depreciation and amortization charges were 34.2% higher due to depreciation on the growing fleet and changes in depreciation profiles for grounded aircraft. Other expenses included flight disruption costs, wet lease expenses, overhead-related expenses, and crew-related expenses. Other income included gains on sale and leaseback transactions, and credits and compensation received from suppliers. Wizz Airs financial income increased due to higher interest rates and an increase in short-term cash deposits. Financial expenses arose from interest charges related to lease liabilities and higher interest rates. The companys net foreign exchange gain was €94.3 million due to the strengthening of the Euro against the US Dollar. Wizz Airs income tax charge decreased slightly due to a lower profit before tax and a higher effective tax rate. The companys earnings per share were €3.13 basic and €2.54 diluted. The companys total cash (including restricted cash and short-term cash deposits) increased by 16.9% to €1,858.1 million. Wizz Airs net debt remained stable at €4,763 million. The companys liquidity was 34.7%, and its leverage ratio was 4.2. The companys return on capital employed was 6.3%. Wizz Airs average capital employed increased compared to the previous year.

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

TR1 Buy

Wizz Air Holdings Plc released its unaudited results for the six months ended September 30, 2024. The company reported a slight increase in total revenue of €3,066.1 million compared to the same period last year. The companys net profit decreased by 21.3% to €315.2 million. Wizz Airs total cash increased by 16.9% to €1,858.1 million, while its net debt remained stable at €4,763 million. The companys <mark style="background-color:yellow">EBIT</mark>DA decreased to €826.0 million, reflecting the impact of grounded aircraft and one-off wet-leased aircraft during the summer peak period. The companys operating profit decreased by 33.2% to €349.2 million due to lower EBITDA and higher depreciation costs. Wizz Airs load factor was 92.4%, with a total of 33.3 million passengers carried during the first half of the financial year. The companys total unit revenue (RASK) increased by 1.4% to €4.98 cents. Wizz Airs cost per available seat kilometer (CASK), excluding fuel, increased by 15.4% to €3.00 cents due to inefficiencies caused by grounded aircraft and network and crew costs. The companys average aircraft stage length decreased by 1.9% compared to the previous year. Wizz Airs average revenue per passenger (net fare) decreased by 0.4% to €92.2. The companys fuel expenses decreased by 1.9% due to lower capacity and favorable fuel prices. Distribution and marketing costs decreased by 3.1%, while maintenance, materials, and repair costs increased by 16.8% due to a larger fleet and more maintenance events. Airport, handling, and en-route charges increased due to higher pricing and shorter average stage length. Depreciation and amortization charges were 34.2% higher due to depreciation on the growing fleet and changes in depreciation profiles for grounded aircraft. Other expenses included flight disruption costs, wet lease expenses, overhead-related expenses, and crew-related expenses. Other income included gains on sale and leaseback transactions, and credits and compensation received from suppliers. Wizz Airs financial income increased due to higher interest rates and an increase in short-term cash deposits. Financial expenses arose from interest charges related to lease liabilities and higher interest rates. The companys net foreign exchange gain was €94.3 million due to the strengthening of the Euro against the US Dollar. Wizz Airs income tax charge decreased slightly due to a lower profit before tax and a higher effective tax rate. The companys earnings per share were €3.13 basic and €2.54 diluted. The companys total cash (including restricted cash and short-term cash deposits) increased by 16.9% to €1,858.1 million. Wizz Airs net debt remained stable at €4,763 million. The companys liquidity was 34.7%, and its leverage ratio was 4.2. The companys return on capital employed was 6.3%. Wizz Airs average capital employed increased compared to the previous year.

TR1 Buy