Eastern European low-cost airline Wizz Air reports increased revenue in the 2023/2024 financial year compared to the same period the previous year. Operating profit showed a turnaround to profit. Net profit came in higher than expected.
Sales rose 30.2 percent to EUR 5,073.1 million (3,895.7).
The number of passengers increased by 21.4 percent to 62.0 million (51.0).
EBITDA was EUR 1,193.2 million (134.3), with an EBITDA margin of 23.5 percent (3.4).
Operating profit was EUR 437.9 million (-466.8). The operating margin was 8.6 percent.
The profit after tax was 365.9 million euros (-535.1), analyst consensus 350.8. This was the company's first annual profit after showing red figures in the previous three years.
”As we enter the 2024/25 financial year, air travel demand remains robust, with no signs of abating in the near term, supporting a higher-yield environment as capacity across the industry remains constrained,” said CEO Jozsef Varadi.
For the 2024/25 financial year, Wizz Air forecasts a net profit of EUR 500-600 million.
Source.FinWire
