The airline posted a profit of one billion in the quarter and will distribute NOK 4.7 billion to shareholders.
Ryanair CEO Michael O’Leary. Photo: BEN STANSALL / AfpPublished:
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The airline opens its accounting books on Monday morning:
The quarterly report shows a profit before tax of 1.7 billion euros for the company’s second quarter, up from 1.22 billion euros in the corresponding period last year. Ryanair has a different financial year and the company’s second quarter ends on 30 September. In the quarter, revenues totaled 4.93 billion euros, up from 4.01 billion in the corresponding period last year. In the company’s first half-year, profit before tax increased to 2.46 billion euros from 1.42 billion euros in the previous year’s period.
Ryanair explains the profit jump with a strong Easter, record high traffic this summer and higher ticket prices. This counteracted the negative effect of higher fuel costs, the company states.
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Alerts dividends
Ryanair announces distribution of dividends to shareholders in the wake of the results. The company will distribute 400 million euros in 2024, corresponding to around NOK 4.7 billion.
The dividend amounts to 0.35 euros per share.
In the next few years, the company plans to pay out around a quarter of the result after tax. Extra dividends and share buybacks may also be relevant, according to the quarterly report.
In the first half of the year, 105.4 million passengers flew with Ryanair. That was up from 95.1 million passengers in the corresponding period last year.
At the same time, 95 per cent of the seats were booked, up from 94 per cent in last year’s period. Ticket prices rose by 24 per cent on average, Ryanair says.
A sharp jump in fuel costs was also the most important reason why operating costs rose by 24 per cent.
2023-11-06 06:29:17
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