Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  EasyJet    EZJ   GB00B7KR2P84

EASYJET

(EZJ)
  Report  
Delayed Quote. Delayed London Stock Exchange - 11/15 11:35:09 am
1302 GBp   +0.58%
11/15AirAsia to sell tickets on other airlines as part of online push
RE
11/14EASYJET PLC : annual earnings release
11/12Norwegian Air to fly three new non-stop U.S.-Europe routes
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

easyJet : FY 2019 pre close trading statement

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/08/2019 | 03:22am EST

EASYJET TRADING UPDATE, 8 October 2019

Solid trading continues in the fourth quarter.

Full Year Headline profit before tax expectation of £420m to £430m

In upper half of previous guidance range

Summary

easyJet has delivered a solid performance in the fourth quarter with robust customer demand and the delivery of self-help initiatives driving outperformance in both our passenger and ancillary revenue per seat. Our cost performance remained strong and in line with expectations despite the difficult Q4 disruption environment. Our operational resilience initiative was a driving force behind the strong performance.

easyJet expects to deliver Full Year 2019 headline profit before tax of between £420 million and £430 million. This is in the upper half of the previous guidance range.

Revenue

Passenger1numbers for the full year increased by 8.6% to 96 million, driven by an increase in capacity2of 10.3% to 105 million seats. Load factor for the full year will decrease by 1.4 percentage points to 91.5%.

Total revenue per seat at constant currency for the full year will decrease by circa 2.7%. Total revenue per seat at constant currency for the second half will increase by circa 0.8%, an outperformance compared to our previous guidance of 'slightly down'. The drivers of this outperformance are the yield optimisation self-help initiatives delivered in the fourth quarter and increased demand due to strikes at British Airways and Ryanair.

Cost

Total headline cost for the full year will increase by circa 12.0% due to increased capacity, higher unit fuel costs and adverse foreign exchange movements. This increase was partially offset by improvements in cost per seat ex fuel.

Headline cost per seat excluding fuel at constant currency will decrease by circa 0.8% for the year, in line with previous guidance. Despite a difficult disruption environment experienced in the fourth quarter, which included the impact of storms across Europe and the technical issues experienced at Gatwick airport, the operational resilience initiative was a key driving force behind the strong performance.

Fuel and FX

easyJet's total fuel cost for Full Year 2019 is expected to be around £1,420 million, which includes an adverse impact of foreign exchange and increased Emissions Trading System (ETS) costs.

Total headline foreign exchange will have a year-on-year adverse impact of around £14 million.

Forward looking

Quarter one 2020 forward bookings3are currently in line with the same time last year and our expected capacity growth for full year 2020 will be at the lower end of our historic range. easyJet's scheduled year-on-year capacity growth in Q1 is currently around 2%.

easyJet plans to provide further details on its FY20 priorities as part of the Full Year 2019 results announcement on Tuesday 19thNovember 2019.

Commenting; Johan Lundgren, easyJet Chief Executive said:

"easyJet has continued to perform in line with expectations, despite challenging market conditions.

"As a result of our self-help initiatives and the increased demand due to disruption at British Airways and Ryanair, we anticipate achieving headline profit before tax for the full year 2019 of between £420 million and £430 million, in the upper half of our previous guidance range.

"Our implementation of initiatives in the fourth quarter to optimise yield has led to solid revenue

performance with total revenue per seat at constant currency set to increase for the full year. We have continued to invest in operational resilience, with the programme successfully reducing the impact of disruption on our operations. As a result, we expect to report a fall in headline cost per seat for the year, excluding fuel at constant currency.

"I would like to thank all our people for their continued tireless work in delivering the warmest

welcome in the sky to all our customers."

For further details please contact easyJet plc:

Institutional investors and analysts:

Michael Barker

+44 (0) 7985 890

939

Holly Grainger

+44 (0) 7583 101

913

Media:

Anna Knowles

+44 (0) 7985 873

313

Dorothy Burwell/Ed Simpkins

+44 (0) 7733 294

930/ (0) 7947 740 551

A copy of this Trading Statement is available at http://corporate.easyjet.com/investors.

Notes:

  1. Passengers represents the number of earned seats flown. Earned seats include seats that are flown whether or not the passenger turns up as easyJet is ano-refund airline, and once a flight has departed a no-show customer is generally not entitled to change flights or seek a refund. Earned seats also include seats provided for promotional purposes and to staff for business travel.
  2. Capacity based on actual number of seats flown
  3. Percentage of total seats sold

Disclaimer

easyjet plc published this content on 08 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2019 07:21:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EASYJET
11/15AirAsia to sell tickets on other airlines as part of online push
RE
11/14EASYJET PLC : annual earnings release
11/12Norwegian Air to fly three new non-stop U.S.-Europe routes
RE
11/12EASYJET : to roll out package holiday business to fill Thomas Cook market
AQ
11/08EasyJet, Jet2.com buy Thomas Cook's UK airport slots
RE
11/08EasyJet, Jet2.com buy Thomas Cook's UK airport slots
RE
11/08EASYJET : statement on Thomas Cook slot acquisition
PU
11/07Lufthansa plans more cost cutting as cabin crew strike over pay
RE
11/07Lufthansa ready for arbitration as cabin crew strike begins
RE
11/04Austrian Airlines plans to cut 500 jobs to reduce costs - source
RE
More news
Financials (GBP)
Sales 2019 6 378 M
EBIT 2019 469 M
Net income 2019 346 M
Debt 2019 342 M
Yield 2019 3,40%
P/E ratio 2019 15,1x
P/E ratio 2020 14,0x
EV / Sales2019 0,86x
EV / Sales2020 0,87x
Capitalization 5 149 M
Chart EASYJET
Duration : Period :
easyJet Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EASYJET
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 1 201,61  GBp
Last Close Price 1 302,00  GBp
Spread / Highest target 15,2%
Spread / Average Target -7,71%
Spread / Lowest Target -27,0%
EPS Revisions
Managers
NameTitle
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
Margaret Christine Browne Chief Operating Officer
Andrew Robert Findlay Chief Financial Officer & Executive Director
Sam Kini Chief Data & Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET17.83%6 641
DELTA AIR LINES INC.13.93%36 631
UNITED AIRLINES HOLDINGS, INC.10.49%23 409
RYANAIR HOLDINGS26.56%16 778
AIR CHINA LIMITED3.83%15 994
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA-9.81%14 266