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Net debt1 at the end of 31 March 2024 was €4,790.2 million vs €3,892.8 million at the end of 31 March 2023, while the Company's leverage ratio1 (net debt to EBITDA) decreased from 29.0 at F23 year end to 4.0. Over the same period, liquidity1 reduced to 29.2% per cent from 36.2 per cent
Mmm… not sure how the markets reacts, these days many positive updates went down the drain at opening. Net debt seems high to me, hope for a positive start based on lower inflation prediction
Wizz air Forecast for 2025 is Euro 500- 600 million Game on !
Top end of forcast of 350 to 370 million .
Wizz Air reported a net profit of €365.9 million (F23: loss €535.1 million), returning to a full fiscal year of profitable operations.
SUMMARY OF F24 FINANCIAL RESULTS ▶ Total revenue increased by 30.2 per cent to €5,073.1 million, compared to €3,895.7 million in F23. ▶ Fuel expenses decreased by 5.0 per cent to €1,855.7 million, compared to €1,954.4 million in F23. ▶ Operating expenses (excluding fuel) increased by 15.4 per cent to €2,779.5 million, compared to €2,408.1 million in F23. ▶ EBITDA grew substantially to €1,193.2 million, an increase of €1,058.9 million vs F23. ▶ Operating profit was €437.9 million compared to an operating loss of €466.8 million in F23. ▶ Net financing expenses decreased by 1.1 per cent to €96.8 million, compared to €97.9 million recorded in F23. ▶ Net foreign exchange gain for F24 was €19.4 million, compared to a gain of €16.6 million in F23. ▶ The Company recorded income tax credit of €24.8 million in F24 compared to the €29.5 million credit in F23. ▶ Wizz Air reported a net profit of €365.9 million (F23: loss €535.1 million), returning to a full fiscal year of profitable operations. ▶ At 31 March 2024, the Group held total cash of €1,588.9 million (including cash and cash equivalents of €728.4 million, €751.1 million of short-term cash deposits and €109.4 million of restricted cash), compared to €1,529.0 million in F23. REVENUE AND COST HIGHLIGHTS Total revenue increased driven by increases in capacity and load factor: ▶ Passenger ticket revenue increased by 38.5 per cent to €2,804.2 million. ▶ Ancillary revenue increased by 21.3 per cent to €2,268.9 million. ▶ Total unit revenue increased by 4.6 per cent to €4.17 cents per available seat kilometre (ASK). ▶ Ticket RASK increased by 11.2 per cent to €2.30 cent, reflecting a stronger load factor year-onyear and favourable pricing environment, specifically during the peak periods. ▶ Ancillary RASK decreased by 2.6 per cent to €1.86 cent, mainly driven by the impact of IsraelHamas war, denting demand in markets with high ancillary spend. Total operating expenses increased by 6.3 per cent to €4,635.2 million in F24 from €4,362.5 million in F23: ▶ Total CASK decreased to €3.90 cent in F24 from €4.58 cent in F23. ▶ Ex-fuel CASK decreased by 7.8 per cent to €2.38 cent in F24 from €2.58 cent in F23, reflecting improved aircraft utilization and on-time performance, various savings in navigation and maintenance lines plus the effect of supplier compensation and gains from multiple spare engine financing in the last fiscal quarter (spare engines advanced to support GTF engine inspections). ▶ Fuel CASK decreased by 23.7 per cent to €1.52 cent in F24, driven mainly by lower fuel charges, improved efficiency (expressed in metric tonnes per ASK: -1.6 per cent YoY) and additional benefit from the prospective rebalancing of free EU ETS emission quotas amongst industry players. GTF ENGINE UPDATE As of 17 May 2024, Wizz Air had 47 aircraft on the ground as a result of GTF engine-related matters. The Company is e
WIZZ AIR RETURNS TO PROFIT IN F24; DELIVERS IMPROVED ASSET UTILIZATION AND ON-TIME PERFORMANCE; ENCOURAGING START TO F25 LSE: WIZZ Geneva, 23 May 2024: Wizz Air Holdings Plc (“Wizz Air” or “the Company”) one of the most sustainable European airlines, today announces its unaudited results for the full year ended 31 March 2024 (“F24”). Full year to 31 March 2024 2023 Change Passengers carried 62,015,792 51,071,836 21.4 % Total revenue (€ million) 5,073.1 3,895.7 30.2 % EBITDA (€ million)1 1,193.2 134.3 788.5 % EBITDA Margin (%)1 23.5 3.4 20.1ppt Operating profit/(loss) for the period (€ million)2 437.9 (466.8) n.m. Unrealised foreign currency gain (€ million) 34.2 9.1 275.8 % Profit/(loss) for the period (€ million)2 365.9 (535.1) n.m. RASK (€ cent) 4.17 3.98 4.6 % Fuel CASK (€ cent) 1.52 2.00 (23.7) % Ex-fuel CASK (€ cent) 2.38 2.58 (7.8) % Total cash (€ million)1,3 1,588.9 1,529.0 3.9 % Load factor (%) 90.1 87.8 2.4ppt Period-end fleet size 208 179 16.2 % Period-end seat count (thousand) 68,813 58,190 18.3 % 1 For definition of alternative performance measures presented refer to "Glossary of terms” and “Alternative performance measures (APMS)" sections of this document. These measures incorporate certain non-financial information that management believes is useful when assessing the performance of the Group. 2 n.m.: not meaningful as a variance is more than (-)100 per cent. 3 Total cash comprises cash and cash equivalents (31 March 2024: €728.4 million; 31 March 2023: €1,408.6 million), short-term cash deposits (31 March 2024: €751.1 million; 31 March 2023: nil) and total current and non-current restricted cash (31 March 2024: €109.4 million; 31 March 2023: €120.4 million). HIGHLIGHTS ▶ Wizz Air celebrates 20 years since its first flight, with more than 390 million passengers carried since launch. ▶ ASK capacity 24.5 per cent higher in F24 vs last year. ▶ Record traffic of 62.0 million passengers in F24 (vs 51.1 million last year). ▶ Unit revenue (RASK) up 4.6 per cent year-on-year, with ticket RASK +11.2 per cent and ancillary -2.6 per cent. ▶ Full year revenue impact from Israel and wider region crisis circa €80 million. ▶ Unit cost (CASK) down by 14.8 per cent year-on-year, with fuel CASK -23.7 per cent and ex-fuel -7.8 per cent. ▶ EBITDA up significantly to €1.2 billion, in line with strong pre-pandemic performance. ▶ Total cash balance at €1.59 billion, after repayment of a €500 million EMTN bond. ▶ Significant improvement in operational metrics with operating fleet utilization at 12:25 hours vs 11:08 hours last year and with 65.3 per cent on-time performance, up from 56.2 per cent: ▶ Maturing network with lower share of capacity operated on routes younger than three years (-7 percentage points vs last year). ▶ Navigating GTF engine disruption: 45x aircraft-on-ground at F24-end; 47x as of 17 May 2024; Significant OEM compensation received for
Future is looking good, should see a surge , very undervalued share
Wizz top boss is inline for a fabulous bonus but needs to get the shareprice to £120. Hence the investment
Someone just put in 5 mil after hrs close.
Double bagger where are you? 💩💩💩 Where is he? Who said it? Shame on you!
Full article
https://simpleflying.com/wizz-air-plans-300-more-planes-2030-airbus/
Sounds like a great future for Wizz
Wizz Air plans to more than double its current aircraft portfolio to 500 by 2030-2032, aiming to operate one million flights annually.
The airline's expansion strategy includes adding more Airbus A320 and A321neo jets, with a focus on longer routes and new subsidiaries.
Wizz Air's growth ambitions also involve establishing new base airports, creating new airline companies, and doubling its current workforce.
Anyone noticed the price hikes from Sept '24 onward? I am a Privilege pass member, some locations like Milan have tripled in price.
I can only assume from this weeks drop that results are below consensus
Thank you FlakMagnet for the link to the article. Very interesting reading, won't change much in terms of SP but good to know what mr. Varady is up to. He certainly is very capable and well educated man. I hold him in very high regard. It is very true that circumstances no one could foresee are to blame for the bad fortunes at Wizz. (Ukraine, Israel, P&W) Without these we can only imagine where the SP would be now.
Good luck to All long time holders
Still dropping
Positive statement, up from here
The best bit: '... the airline celebrates two decades in business at a party in Budapest to be attended by 3,000 employees flown in from its 35 bases across Europe and the Middle East.
The message he plans to convey is that a nadir has already been reached in terms of fleet disruption, with the number of planes grounded by the engine crisis at a maximum.
“This will be one of the biggest events of our corporate lives,” he said of the gathering. “We should feel very proud of what we have achieved and that should give us energy and pride for the future. We have another exciting 20 years in front of us.”
Then it’s back to London for the presentation of full-year results on Thursday, followed by Friday’s appointment at the London Stock Exchange.'
https://www.telegraph.co.uk/business/2024/05/19/socialistic-london-mojo-wizz-air-boss-jozsef-varadi/
Behave joo
45 / 50 pounds soon
Having said that, Wizz has seen a strong tailwind in rampant travel demand — in July, it reached a new record-high number of passengers flown, with over 6m passengers travelling that month. Therefore, the case for buying Wizz Air shares over easyJet would be the fact that there’s more growth potential to realise. If the Hungarian firm can circumvent its current challenges successfully, its shares could rise by as much as 82%, according to analysts’ consensus, as indicated by the graph below.
As soon as Marshall start shorting they are normally very successful at it ....
Kpa1
I expected a bit more than that:-)
I said with the increase in shorts I would be avoiding this kot worth the headache
Kpa1
When was that then
From 7 hrs ago
Wizz Air Holdings PLC (AIM:WIZZ) is set to report a return to profitability in full-year results on Thursday, May 23.
However, aircraft groundings relating to Pratt & Whitney engine issues and geopolitical tensions are among challenges set to have bound the operator over the year.
Wizz said in April net income would sit between €350-€370 million for the year, against a €535.1 loss in 2023, while revenue of as much as €5.1 billion would mark a near one-third increase.
However, Liberum analysts noted costs had been “flattered” by compensation from Pratt & Whitney over the engine recalls.
Unit revenue should be growing faster too, analysts said, given capacity constraints that will result in flat growth this year coupled with booming travel demand.
Though still solid booking trends for the upcoming summer were “reassuring”, Liberum hit the airline with a ‘sell’ rating over concerns high debt had not been recognised in its valuation.
Alongside this, Wizz warned the situation in Israel was being watched closely after flights had been temporarily grounded following an outbreak of conflict in the Middle East in October.