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Name | Symbol | Market | Type |
---|---|---|---|
Ryanair Holdings PLC | NASDAQ:RYAAY | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.82 | 2.06% | 139.41 | 139.35 | 139.48 | 139.48 | 137.14 | 137.51 | 86,274 | 18:00:49 |
Full Year (IFRS)
|
Mar 31, 2015
|
Mar 31, 2016
|
% Change
|
Customers (m)
|
90.6
|
106.4
|
+18%
|
Revenue (m)
|
€5,654
|
€6,536
|
+16%
|
Profit after Tax (m)*
|
€867
|
€1,242
|
+43%
|
Net Margin*
|
15%
|
19%
|
+4pts
|
Basic EPS*
|
€0.63
|
€0.93
|
+48%
|
|
- AGB Year 2 delivered and Year 3 announced
|
|
- Ave. fares cut 1% to €46.67
|
|
- Traffic up 18% to 106.4m (LF up 5% to 93%)
|
|
- Unit costs fell 6% (ex-fuel down 2%)
|
|
- Net profit up 43% to €1,242m
|
|
- First airline to carry over 100m intl. customers in a calendar year
|
|
- New website and mobile app launched in Oct.
|
|
- 5 year pay and conditions deals agreed with all 84 pilot and cabin crew bases
|
|
- Aer Lingus proceeds (€398m) distributed to shareholders in Nov.
|
|
- 4
th
share buyback (€800m) launched in Feb.
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Sep
|
Oct
|
Nov
|
Dec
|
Jan
|
Feb
|
Mar
|
Ave
|
|
FY15
|
91%
|
89%
|
87%
|
86%
|
90%
|
90%
|
92%
|
91%
|
84%
|
85%
|
91%
|
92%
|
90%
|
FY16
|
90%
|
92%
|
91%
|
90%
|
90%
|
92%
|
92%
|
92%
|
86%
|
89%
|
92%
|
88%
|
90%
|
Brexit:
As the UK’s largest airline, Ryanair strongly believes that the UK economy and its future growth prospects are stronger if it remains a member of the European Union (“EU”). One of Europe’s great success stories was airline deregulation in the late 1980s which allowed Ryanair to break up the high fare cartel of Europe’s flag carrier airlines, and has enabled us to transform air travel, tourism, economic growth and jobs all over Europe. Ryanair is actively campaigning for a “Remain” vote in the referendum on June 23 next.
If the UK leaves the EU then this, we believe, will damage economic growth and consumer confidence in the UK for the next 2 to 3 years as they begin to negotiate their exit from the EU and re-entry to the single market in very uncertain market conditions.
|
For further information
|
Neil Sorahan
|
Piaras Kelly
|
please contact:
|
Ryanair Holdings plc
|
Edelman
|
www.ryanair.com
|
Tel: 353-1-9451212
|
Tel: 353-1-6789333
|
Ryanair Holdings plc and Subsidiaries
Condensed Consolidated Preliminary Balance Sheet as at March 31, 2016 (unaudited)
|
|||
At Mar 31,
|
At Mar 31,
|
||
2016
|
2015
|
||
Note
|
€M
|
€M
|
|
Non-current assets
|
|||
Property, plant and equipment
|
11
|
6,261.5
|
5,471.1
|
Intangible assets
|
46.8
|
46.8
|
|
Available for sale financial assets
|
8
|
-
|
371.0
|
Derivative financial instruments
|
88.5
|
554.5
|
|
Total non-current assets
|
6,396.8
|
6,443.4
|
|
Current assets
|
|||
Inventories
|
3.3
|
2.1
|
|
Other assets
Current tax
|
148.5
-
|
138.7
0.8
|
|
Trade receivables
|
66.1
|
60.1
|
|
Derivative financial instruments
|
269.1
|
744.4
|
|
Restricted cash
|
13.0
|
6.7
|
|
Financial assets: cash > 3 months
|
3,062.3
|
3,604.6
|
|
Cash and cash equivalents
|
1,259.2
|
1,184.6
|
|
Total current assets
|
4,821.5
|
5,742.0
|
|
Total assets
|
11,218.3
|
12,185.4
|
|
Current liabilities
|
|||
Trade payables
|
230.6
|
196.5
|
|
Accrued expenses and other liabilities
|
2,112.7
|
1,938.2
|
|
Current maturities of debt
|
449.9
|
399.6
|
|
Derivative financial instruments
|
555.4
|
811.7
|
|
Current tax
|
20.9
|
-
|
|
Total current liabilities
|
3,369.5
|
3,346.0
|
|
Non-current liabilities
|
|||
Provisions
|
149.3
|
180.8
|
|
Derivative financial instruments
|
111.6
|
73.4
|
|
Deferred tax
|
385.5
|
462.3
|
|
Other creditors
|
32.5
|
55.8
|
|
Non-current maturities of debt
|
3,573.1
|
4,032.0
|
|
Total non-current liabilities
|
4,252.0
|
4,804.3
|
|
Shareholders' equity
|
|||
Issued share capital
|
13
|
7.7
|
8.7
|
Share premium account
|
719.4
|
718.6
|
|
Other undenominated capital
|
13
|
2.3
|
1.3
|
Retained earnings
|
13
|
3,166.1
|
2,706.2
|
Other reserves
|
(298.7)
|
600.3
|
|
Shareholders' equity
|
3,596.8
|
4,035.1
|
|
Total liabilities and shareholders' equity
|
11,218.3
|
12,185.4
|
Year
|
Year
|
|||
Ended
|
Ended
|
|||
Mar 31,
|
Mar 31,
|
|||
2016
|
2015
|
|||
Note
|
€M
|
€M
|
||
Operating activities
|
||||
Profit after tax
|
1,559.1
|
866.7
|
||
Adjustments to reconcile profit after tax to net cash provided by operating activities
|
||||
Depreciation
|
427.3
|
377.7
|
||
Retirement costs
|
0.2
|
0.2
|
||
(Increase)/decrease in inventories
|
(1.2)
|
0.4
|
||
Tax expense on profit on ordinary activities
|
162.8
|
115.7
|
||
Share based payments
|
5.9
|
0.5
|
||
(Increase) in trade receivables
|
(6.0)
|
(2.0)
|
||
(Increase) in other current assets
|
(11.2)
|
(12.3)
|
||
Increase in trade payables
|
34.1
|
46.5
|
||
Increase in accrued expenses
|
175.0
|
364.4
|
||
(Decrease) in other creditors
|
(23.3)
|
(34.6)
|
||
(Decrease)/increase in provisions
|
(31.8)
|
44.0
|
||
Gain on disposal of available for sale financial asset
|
(317.5)
|
-
|
||
Decrease/(increase) in finance income
|
1.4
|
(2.2)
|
||
(Decrease)/increase in finance expense
|
(1.0)
|
12.8
|
||
Income tax paid
|
(127.5)
|
(88.4)
|
||
Net cash provided by operating activities
|
1,846.3
|
1,689.4
|
||
Investing activities
|
||||
Capital expenditure (purchase of property, plant and equipment)
|
(1,217.7)
|
(788.5)
|
||
Disposal of available for sale asset
|
398.1
|
-
|
||
(Increase)/decrease in restricted cash
|
(6.3)
|
6.6
|
||
Decrease/(increase) in financial assets: cash > 3 months
|
542.3
|
(2,106.3)
|
||
Net cash (used in) investing activities
|
(283.6)
|
(2,888.2)
|
||
Financing activities
|
||||
Net proceeds from shares issued
|
0.8
|
14.4
|
||
Shareholder distributions
|
13
|
(1,104.0)
|
(632.3)
|
|
Proceeds from long term borrowings
|
-
|
1,690.9
|
||
Repayments of long term borrowings
|
(384.9)
|
(419.7)
|
||
Net cash (used in)/provided by financing activities
|
(1,488.1)
|
653.3
|
||
Increase/(decrease) in cash and cash equivalents
|
74.6
|
(545.5)
|
||
Cash and cash equivalents at beginning of the year
|
1,184.6
|
1,730.1
|
||
Cash and cash equivalents at end of the year
|
1,259.2
|
1,184.6
|
Ordinary
|
Issued
Share
|
Share
Premium
|
Retained
|
Other
Undenominated
|
Other | |||||
Shares
|
Capital
|
Account
|
Earnings
|
Capital
|
Treasury
|
Hedging
|
Reserves
|
Total
|
||
M
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
|
||
Balance at March 31, 2014
|
1,383.3
|
8.8
|
704.2
|
2,465.1
|
1.2
|
-
|
(83.2)
|
189.7
|
3,285.8
|
|
Profit for the year
|
-
|
-
|
-
|
866.7
|
-
|
-
|
-
|
-
|
866.7
|
|
Other comprehensive income
|
||||||||||
Net actuarial losses from retirement benefit plans |
-
|
-
|
-
|
(2.4)
|
-
|
-
|
-
|
-
|
(2.4)
|
|
Net movements in cash flow reserve
|
-
|
-
|
-
|
-
|
-
|
-
|
391.7
|
-
|
391.7
|
|
Net change in fair value of available for sale financial asset
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
110.7
|
110.7
|
|
Total other comprehensive income
|
-
|
-
|
-
|
(2.4)
|
-
|
-
|
391.7
|
110.7
|
500.0
|
|
Total comprehensive income
|
-
|
-
|
-
|
864.3
|
-
|
-
|
391.7
|
110.7
|
1,366.7
|
|
Transactions with owners of the Company recognised directly in equity
|
||||||||||
Issue of ordinary equity shares
|
5.0
|
-
|
14.4
|
-
|
-
|
-
|
-
|
-
|
14.4
|
|
Share-based payments
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
0.5
|
0.5
|
|
Repurchase of ordinary equity shares
|
-
|
-
|
-
|
(108.8)
|
-
|
(3.2)
|
-
|
-
|
(112.0)
|
|
Cancellation of repurchased ordinary shares
|
(10.6)
|
(0.1)
|
-
|
-
|
0.1
|
-
|
-
|
-
|
-
|
|
Dividend paid
|
-
|
-
|
-
|
(520.3)
|
-
|
-
|
-
|
-
|
(520.3)
|
|
Transfer of exercised and expired share based awards
|
-
|
-
|
-
|
5.9
|
-
|
-
|
-
|
(5.9)
|
-
|
|
Balance at March 31, 2015
|
1,377.7
|
8.7
|
718.6
|
2,706.2
|
1.3
|
(3.2)
|
308.5
|
295.0
|
4,035.1
|
|
Profit for the year
|
-
|
-
|
-
|
1,559.1
|
-
|
-
|
-
|
-
|
1,559.1
|
|
Other comprehensive income
|
||||||||||
Net actuarial gains from retirement benefit plans |
-
|
-
|
-
|
0.4
|
-
|
-
|
-
|
-
|
0.4
|
|
Net movements in cash flow reserve
|
-
|
-
|
-
|
-
|
-
|
-
|
(609.1)
|
-
|
(609.1)
|
|
Net change in fair value of available for sale financial asset
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(291.4)
|
(291.4)
|
|
Total other comprehensive income
|
-
|
-
|
-
|
0.4
|
-
|
-
|
(609.1)
|
(291.4)
|
(900.1)
|
|
Total comprehensive
income
|
-
|
-
|
-
|
1,559.5
|
-
|
-
|
(609.1)
|
(291.4)
|
659.0
|
|
Transactions with owners of the Company recognised directly in equity
|
||||||||||
Issue of ordinary equity shares
|
0.3
|
-
|
0.8
|
-
|
-
|
-
|
-
|
-
|
0.8
|
|
Share capital reorganisation
|
(33.8)
|
(0.7)
|
-
|
-
|
0.7
|
-
|
-
|
-
|
-
|
|
Share-based payments
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
5.9
|
5.9
|
|
Repurchase of ordinary equity shares
|
-
|
-
|
-
|
(698.8)
|
-
|
(7.3)
|
-
|
-
|
(706.1)
|
|
Cancellation of repurchased ordinary shares
|
(53.2)
|
(0.3)
|
-
|
-
|
0.3
|
-
|
-
|
-
|
-
|
|
Treasury shares cancelled
|
(0.3)
|
-
|
-
|
(3.2)
|
-
|
3.2
|
-
|
-
|
-
|
|
Dividend paid
|
-
|
-
|
-
|
(397.9)
|
-
|
-
|
-
|
-
|
(397.9)
|
|
Transfer of exercised and expired share based awards
|
-
|
-
|
-
|
0.3
|
-
|
-
|
-
|
(0.3)
|
-
|
|
Balance at March 31, 2016
|
1,290.7
|
7.7
|
719.4
|
3,166.1
|
2.3
|
(7.3)
|
(300.6)
|
9.2
|
3,596.8
|
·
"Annual Improvements to IFRSs". 2010-2012 Cycle (effective for fiscal periods beginning on or after July 1, 2014).
|
·
"Annual Improvements to IFRSs". 2011-2013 Cycle (effective for fiscal periods beginning on or after July 1, 2014).
|
·
Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) (effective for fiscal periods beginning on or after July 1, 2014).
|
·
Amendments to IFRS 11: "Accounting for Acquisitions of Interests in Joint Operations" (effective for fiscal periods beginning on or after January 1, 2016)
|
·
Amendments to IAS 16 and IAS 38: "Clarification of Acceptable Methods of Depreciation and Amortisation" (effective for fiscal periods beginning on or after January 1, 2016)
|
·
Amendments to IAS 16 Property, Plant and Equipment and IAS 41 Bearer Plants (effective for fiscal periods beginning on or after January 1, 2016)
|
·
Amendments to IAS 27 Equity method in Separate Financial Statements (effective for fiscal periods beginning on or after January 1, 2016)
|
·
Amendments to IAS 1: "Disclosure Initiative" (effective for fiscal periods beginning on or after January 1, 2016)
|
·
"Annual Improvements to IFRSs" 2012-2014 Cycle (effective for fiscal periods beginning on or after January 1, 2016)
|
·
Amendments to IFRS 10, IFRS 12 and IAS 28: Investment Entities: Applying the consolidation exception (effective for fiscal periods beginning on or after January 1, 2016)*
|
·
IFRS 14, "Regulatory Deferral Accounts" (effective for fiscal periods beginning on or after January 1, 2016)*
|
·
Amendments to IAS 7:
Disclosure Initiative
(
effective for fiscal periods beginning on or after January 1, 2017)*
|
·
Amendments to IAS 12: Recognition of deferred tax assets for unrealised losses (effective for fiscal periods beginning on or after January 1, 2017)*
|
·
IFRS 15, "Revenue from Contracts with Customers" (effective for fiscal periods beginning on or after January 1, 2018)*
|
·
IFRS 9 Financial Instruments (effective for fiscal periods beginning on or after January 1, 2018)*
|
·
IFRS 16: Leases (effective for fiscal periods beginning on or after January 1, 2018)*
|
·
Amendments to IFRS 10 and IAS 28 - Sales or contributions of assets between an investor and its associate/joint venture (effective for fiscal periods beginning on or after January 1, 2016).*
|
Year
|
Year
|
|
Ended
|
Ended
|
|
Mar 31,
|
Mar 31,
|
|
2016
|
2015
|
|
€M
|
€M
|
|
Total adjusted profit for reportable segment
|
1,241.6
|
866.7
|
Other items of profit or loss
|
||
Gain on disposal of available for sale financial asset
|
317.5
|
-
|
Profit for the year - IFRS
|
1,559.1
|
866.7
|
Year
|
Year
|
|
Ended
|
Ended
|
|
Mar 31,
|
Mar 31,
|
|
2016
|
2015
|
|
Basic earnings per ordinary share euro cent
|
116.26
|
62.59
|
Diluted earnings per ordinary share euro cent
|
115.63
|
62.46
|
Weighted average number of ordinary shares (in M's) - basic
|
1,341.0
|
1,384.7
|
Weighted average number of ordinary shares (in M's) - diluted
|
1,348.4
|
1,387.6
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
|
|
2016
|
2016
|
2015
|
2015
|
|
Carrying
|
Fair
|
Carrying
|
Fair
|
|
Amount
|
Value
|
Amount
|
Value
|
|
Non-current financial assets
|
€M
|
€M
|
€M
|
€M
|
Derivative financial instruments:-
|
||||
- U.S. dollar currency forward contracts
|
79.2
|
79.2
|
535.5
|
535.5
|
- Jet fuel derivative contracts
|
3.2
|
3.2
|
12.4
|
12.4
|
- Interest rate swaps
|
6.1
|
6.1
|
6.6
|
6.6
|
88.5
|
88.5
|
554.5
|
554.5
|
|
- Available-for-sale financial assets
|
-
|
-
|
371.0
|
371.0
|
88.5
|
88.5
|
925.5
|
925.5
|
|
Current financial assets
|
||||
Derivative financial instruments:-
|
||||
- U.S. dollar currency forward contracts
|
267.2
|
267.2
|
726.7
|
726.7
|
- Jet fuel derivative contracts
|
-
|
-
|
3.0
|
3.0
|
- Interest rate swaps
|
1.9
|
1.9
|
14.7
|
14.7
|
269.1
|
269.1
|
744.4
|
744.4
|
|
Trade receivables*
|
66.1
|
60.1
|
||
Cash and cash equivalents*
|
1,259.2
|
1,184.6
|
||
Financial asset: cash > 3 months*
|
3,062.3
|
3,604.6
|
||
Restricted cash*
|
13.0
|
6.7
|
||
Other assets*
|
3.4
|
4.8
|
||
4,673.1
|
269.1
|
5,605.2
|
744.4
|
|
Total financial assets
|
4,761.6
|
357.6
|
6,530.7
|
1,669.9
|
At Mar 31,
|
At Mar 31
|
At Mar 31
|
At Mar 31
|
|
2016
|
2016
|
2015
|
2015
|
|
Carrying
|
Fair
|
Carrying
|
Fair
|
|
Amount
|
Value
|
Amount
|
Value
|
|
Non-current financial liabilities
|
€M
|
€M
|
€M
|
€M
|
Derivative financial instruments:-
|
||||
- U.S. dollar currency forward contracts
|
50.5
|
50.5
|
-
|
-
|
- Interest rate swaps
|
4.0
|
4.0
|
9.8
|
9.8
|
- Jet fuel derivative contracts
|
57.1
|
57.1
|
63.6
|
63.6
|
111.6
|
111.6
|
73.4
|
73.4
|
|
Long-term debt
|
1,881.0
|
1,923.4
|
2,341.1
|
2,391.6
|
Bonds
|
1,692.1
|
1,741.8
|
1,690.9
|
1,738.4
|
3,684.7
|
3,776.8
|
4,105.4
|
4,203.4
|
|
Current financial liabilities
|
||||
Derivative financial instruments:-
|
||||
- U.S. dollar currency forward contracts
|
0.6
|
0.6
|
24.5
|
24.5
|
- Interest rate swaps
|
12.2
|
12.2
|
22.1
|
22.1
|
- Jet fuel derivative contracts
|
542.6
|
542.6
|
765.1
|
765.1
|
555.4
|
555.4
|
811.7
|
811.7
|
|
Long-term debt
|
449.9
|
449.9
|
399.6
|
399.6
|
Trade payables*
|
230.6
|
196.5
|
||
Accrued expenses*
|
422.8
|
417.1
|
||
1,658.7
|
1,005.3
|
1,824.9
|
1,211.3
|
|
Total financial liabilities
|
5,343.4
|
4,782.1
|
5,930.3
|
5,414.7
|
RYANAIR HOLDINGS PLC
|
By:___/s/ Juliusz Komorek____
|
|
Juliusz Komorek
|
|
Company Secretary
|
1 Year Ryanair Chart |
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