31 Mar. 2022
|
31 Mar. 2023
|
Change
| |
Load Factor
|
82%
|
93%
|
+11pts
|
Customers
|
97.1m
|
168.6m
|
+74%
|
Revenue
|
€4.80bn
|
€10.78bn
|
+124%
|
Op. Costs
|
€5.27bn*
|
€9.20bn*
|
+75%
|
Net (Loss)/ PAT
|
(€355m)*
|
€1.43bn*
|
n/m
|
EPS
|
(€0.21)
|
€1.16
|
n/m
|
Net (debt)/cash
|
(€1.45bn)
|
€0.56bn
|
n/m
|
For further information
please contact:
www.ryanair.com
|
Neil Sorahan
Ryanair Holdings plc
Tel: +353-1-9451212
|
Piaras Kelly
Edelman
Tel: +353-1-6789333
|
At Mar 31,
|
At Mar 31,
| |||
2023
|
2022
| |||
Note
|
€M
|
€M
| ||
Non-current assets
| ||||
Property, plant and equipment
|
9
|
9,908.9
|
9,095.1
| |
Right-of-use asset
|
9
|
209.1
|
133.7
| |
Intangible assets
|
146.4
|
146.4
| ||
Derivative financial instruments
|
11
|
54.6
|
185.1
| |
Deferred tax
|
6.6
|
42.3
| ||
Other assets
|
168.9
|
72.1
| ||
Total non-current assets
|
10,494.5
|
9,674.7
| ||
Current assets
| ||||
Inventories
|
6.0
|
4.3
| ||
Other assets
|
878.6
|
401.1
| ||
Trade receivables
|
11
|
59.7
|
43.5
| |
Derivative financial instruments
|
11
|
292.1
|
1,400.4
| |
Restricted cash
|
11
|
19.5
|
22.7
| |
Financial assets: cash > 3 months
|
11
|
1,056.2
|
934.1
| |
Cash and cash equivalents
|
11
|
3,599.3
|
2,669.0
| |
Total current assets
|
5,911.4
|
5,475.1
| ||
Total assets
|
16,405.9
|
15,149.8
| ||
Current liabilities
| ||||
Provisions
|
19.8
|
9.2
| ||
Trade payables
|
11
|
1,065.5
|
1,029.0
| |
Accrued expenses and other liabilities
|
4,783.5
|
2,992.8
| ||
Current lease liability
|
43.2
|
56.9
| ||
Current maturities of debt
|
11
|
1,056.7
|
1,224.5
| |
Derivative financial instruments
|
11
|
386.6
|
38.6
| |
Current tax
|
66.3
|
47.7
| ||
Total current liabilities
|
7,421.6
|
5,398.7
| ||
Non-current liabilities
| ||||
Provisions
|
154.5
|
94.1
| ||
Trade payables
|
11
|
-
|
49.2
| |
Derivative financial instruments
|
11
|
11.2
|
-
| |
Deferred tax
|
159.3
|
266.5
| ||
Non-current lease liability
|
163.1
|
81.4
| ||
Non-current maturities of debt
|
11
|
2,853.2
|
3,714.6
| |
Total non-current liabilities
|
3,341.3
|
4,205.8
| ||
Shareholders' equity
| ||||
Issued share capital
|
6.9
|
6.8
| ||
Share premium account
|
1,379.9
|
1,328.2
| ||
Other undenominated capital
|
3.5
|
3.5
| ||
Retained earnings
|
4,180.0
|
2,880.9
| ||
Other reserves
|
72.7
|
1,325.9
| ||
Shareholders' equity
|
5,643.0
|
5,545.3
| ||
Total liabilities and shareholders' equity
|
16,405.9
|
15,149.8
|
Pre-Except.
Change
|
Pre-
Except.
|
Except.
|
IFRS
|
Pre-Except.
|
Except.
|
IFRS
| |||
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
| ||||
Mar 31, 2023
|
Mar 31, 2023
|
Mar 31, 2023
|
Mar 31, 2022
|
Mar 31, 2022
|
Mar 31, 2022
| ||||
Note
|
%*
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
| ||
Operating revenues
| |||||||||
Scheduled revenues
|
+161%
|
6,930.3
|
-
|
6,930.3
|
2,652.5
|
-
|
2,652.5
| ||
Ancillary revenues
|
+79%
|
3,844.9
|
-
|
3,844.9
|
2,148.4
|
-
|
2,148.4
| ||
Total operating revenues
|
8
|
+124%
|
10,775.2
|
-
|
10,775.2
|
4,800.9
|
-
|
4,800.9
| |
Operating expenses
| |||||||||
Fuel and oil
|
-113%
|
3,895.2
|
130.5
|
4,025.7
|
1,829.9
|
(130.5)
|
1,699.4
| ||
Airport and handling charges
|
-53%
|
1,240.5
|
-
|
1,240.5
|
813.4
|
-
|
813.4
| ||
Staff costs
|
-73%
|
1,191.4
|
-
|
1,191.4
|
690.1
|
-
|
690.1
| ||
Depreciation
|
-28%
|
923.2
|
-
|
923.2
|
719.4
|
-
|
719.4
| ||
Route charges
|
-64%
|
903.7
|
-
|
903.7
|
551.2
|
-
|
551.2
| ||
Marketing, distribution and other
|
-64%
|
674.4
|
-
|
674.4
|
411.3
|
-
|
411.3
| ||
Maintenance, materials and repairs
|
-46%
|
373.7
|
-
|
373.7
|
255.7
|
-
|
255.7
| ||
Total operating expenses
|
-75%
|
9,202.1
|
130.5
|
9,332.6
|
5,271.0
|
(130.5)
|
5,140.5
| ||
Operating profit/(loss)
|
1,573.1
|
(130.5)
|
1,442.6
|
(470.1)
|
130.5
|
(339.6)
| |||
Other (expense)/income
| |||||||||
Net finance expense
|
+62%
|
(34.4)
|
-
|
(34.4)
|
(91.4)
|
-
|
(91.4)
| ||
Foreign exchange
|
34.3
|
-
|
34.3
|
1.2
|
-
|
1.2
| |||
Total other (expense)/income
|
(0.1)
|
-
|
(0.1)
|
(90.2)
|
-
|
(90.2)
| |||
Profit/(loss) before tax
|
1,573.0
|
(130.5)
|
1,442.5
|
(560.3)
|
130.5
|
(429.8)
| |||
Tax (expense) on profit/credit on loss
|
5
|
(145.0)
|
16.3
|
(128.7)
|
205.3
|
(16.3)
|
189.0
| ||
Profit/(loss) for the year - attributable to
equity holders of parent
|
1,428.0
|
(114.2)
|
1,313.8
|
(355.0)
|
114.2
|
(240.8)
| |||
Earnings/(loss) per ordinary share (€)
| |||||||||
Basic
|
1.1557
|
(0.2130)
| |||||||
Diluted
|
1.1529
|
(0.2130)
| |||||||
Weighted avg. no. of ord. shares (in Ms)
| |||||||||
Basic
|
1,136.8
|
1,130.5
| |||||||
Diluted
|
1,139.6
|
1,130.5
|
Year
|
Year
| |
Ended
|
Ended
| |
Mar 31,
|
Mar 31,
| |
2023
|
2022
| |
€M
|
€M
| |
Profit/(loss) for the year
|
1,313.8
|
(240.8)
|
Other comprehensive (loss)/income:
| ||
Items that are or may be reclassified subsequently to profit or loss:
| ||
Movements in hedging reserve, net of tax:
| ||
Net movement in cash-flow hedge reserve
|
(1,264.0)
|
1,084.1
|
Other comprehensive (loss)/income for the year, net of income tax
|
(1,264.0)
|
1,084.1
|
Total comprehensive income for the year - attributable to equity holders of parent
| ||
49.8
|
843.3
|
Year
|
Year
| |||
Ended
|
Ended
| |||
Mar 31,
|
Mar 31,
| |||
2023
|
2022
| |||
Note
|
€M
|
€M
| ||
Operating activities
| ||||
Profit/(loss) after tax
|
1,313.8
|
(240.8)
| ||
Adjustments to reconcile profit/(loss) after tax to net cash from operating activities
| ||||
Depreciation
|
923.2
|
719.4
| ||
(Increase) in inventories
|
(1.7)
|
(0.7)
| ||
Tax expense on profit/(credit) on loss
|
128.7
|
(189.0)
| ||
Share based payments
|
16.2
|
8.6
| ||
(Increase) in trade receivables
|
(16.2)
|
(24.9)
| ||
(Increase) in other assets
|
(482.0)
|
(241.4)
| ||
Increase in trade payables
|
31.2
|
284.6
| ||
Increase in accrued expenses and other liabilities
|
1,788.9
|
1,722.8
| ||
Increase in provisions
|
33.7
|
45.5
| ||
Decrease/(increase) in finance expense
|
4.2
|
(7.3)
| ||
Increase in finance income
|
10.4
|
0.7
| ||
Foreign exchange and fair value*
|
144.7
|
(146.5)
| ||
Income tax (paid)/received
|
(4.1)
|
9.5
| ||
Net cash inflow from operating activities
|
3,891.0
|
1,940.5
| ||
Investing activities
| ||||
Capital expenditure - purchase of property, plant and equipment
|
9
|
(1,914.7)
|
(1,181.6)
| |
Disposal proceeds
|
9
|
4.9
|
110.5
| |
Supplier reimbursements
|
9
|
127.5
|
113.9
| |
Decrease in restricted cash
|
3.2
|
11.4
| ||
(Increase) in financial assets: cash > 3 months
|
(122.1)
|
(468.6)
| ||
Net cash (used in) investing activities
|
(1,901.2)
|
(1,414.4)
| ||
Financing activities
| ||||
Net proceeds from shares issued
|
12
|
31.7
|
46.8
| |
Proceeds from long term borrowings
|
-
|
1,192.0
| ||
Repayments of long term borrowings
|
(1,039.4)
|
(1,722.3)
| ||
Lease liabilities paid
|
(46.3)
|
(53.0)
| ||
Net cash (used in) financing activities
|
(1,054.0)
|
(536.5)
| ||
Increase/(decrease) in cash and cash equivalents
|
935.8
|
(10.4)
| ||
Net foreign exchange gains/(losses)
|
(5.5)
|
28.7
| ||
Cash and cash equivalents at beginning of the year
|
2,669.0
|
2,650.7
| ||
Cash and cash equivalents at end of the year
|
3,599.3
|
2,669.0
| ||
Included in the cash flows from operating activities for the year are the following amounts:
| ||||
Interest income received
|
52.7
|
-
| ||
Interest expense paid
|
(75.0)
|
(86.6)
|
Issued
|
Share
|
Other
|
Other
| |||||
Ordinary
|
Share
|
Premium
|
Undenom.
|
Retained
|
Reserves
|
Other
| ||
Shares
|
Capital
|
Account
|
Capital
|
Earnings
|
Hedging
|
Reserves
|
Total
| |
M
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
|
€M
| |
Balance at April 01, 2021
|
1,128.1
|
6.7
|
1,161.6
|
3.5
|
3,232.3
|
211.3
|
31.2
|
4,646.6
|
Loss for the year
|
-
|
-
|
-
|
-
|
(240.8)
|
-
|
-
|
(240.8)
|
Other comprehensive (loss)/income
| ||||||||
Net movements in cash-flow reserve
|
-
|
-
|
-
|
-
|
-
|
1,084.1
|
-
|
1,084.1
|
Total other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
1,084.1
|
-
|
1,084.1
|
Total comprehensive (loss)/income
|
-
|
-
|
-
|
-
|
(240.8)
|
1,084.1
|
-
|
843.3
|
Transactions with owners of the
| ||||||||
Company recognised directly in equity
| ||||||||
Issue of ordinary equity shares
|
6.5
|
0.1
|
112.2
|
-
|
(65.5)
|
-
|
-
|
46.8
|
Additional share premium on the allotment of shares
|
-
|
-
|
54.4
|
-
|
(54.4)
|
-
|
-
|
-
|
Share-based payments
|
-
|
-
|
-
|
-
|
-
|
-
|
8.6
|
8.6
|
Transfer of exercised and expired share based awards
|
-
|
-
|
-
|
-
|
9.3
|
-
|
(9.3)
|
-
|
Balance at March 31, 2022
|
1,134.6
|
6.8
|
1,328.2
|
3.5
|
2,880.9
|
1,295.4
|
30.5
|
5,545.3
|
Profit for the year
|
-
|
-
|
-
|
-
|
1,313.8
|
-
|
-
|
1,313.8
|
Other comprehensive income/(loss)
| ||||||||
Net movements in cash-flow reserve
|
-
|
-
|
-
|
-
|
-
|
(1,264.0)
|
-
|
(1,264.0)
|
Total other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(1,264.0)
|
-
|
(1,264.0)
|
Total comprehensive income/(loss)
|
-
|
-
|
-
|
-
|
1,313.8
|
(1,264.0)
|
-
|
49.8
|
Transactions with owners of the
| ||||||||
Company recognised directly in equity
| ||||||||
Issue of ordinary equity shares
|
4.1
|
0.1
|
51.7
|
-
|
(20.1)
|
-
|
-
|
31.7
|
Share-based payments
|
-
|
-
|
-
|
-
|
-
|
-
|
16.2
|
16.2
|
Transfer of exercised and expired share based awards
|
-
|
-
|
-
|
5.4
|
-
|
(5.4)
|
-
| |
Balance at March 31, 2023
|
1,138.7
|
6.9
|
1,379.9
|
3.5
|
4,180.0
|
31.4
|
41.3
|
5,643.0
|
Year Ended
|
Ryanair DAC
|
Malta Air
|
Other Airlines
|
Elimination
|
Total
|
Mar 31,
|
Mar 31,
|
Mar 31,
|
Mar 31,
|
Mar 31,
| |
2023
|
2023
|
2023
|
2023
|
2023
| |
€M
|
€M
|
€M
|
€M
|
€M
| |
Scheduled revenue
|
6,843.4
|
-
|
86.9
|
-
|
6,930.3
|
Ancillary revenue
|
3,844.9
|
-
|
-
|
-
|
3,844.9
|
Inter-segment revenue
|
759.4
|
868.8
|
425.7
|
(2,053.9)
|
-
|
Segment revenue
|
11,447.7
|
868.8
|
512.6
|
(2,053.9)
|
10,775.2
|
Reportable segment profit after income tax (i)
|
1,382.3
|
10.1
|
35.6
|
-
|
1,428.0
|
Other segment information:
| |||||
Net Finance Expense
|
27.8
|
-
|
6.6
|
-
|
34.4
|
Depreciation
|
876.6
|
-
|
46.6
|
-
|
923.2
|
Capital Expenditure
|
1,760.1
|
-
|
153.0
|
-
|
1,913.1
|
Segment assets
|
15,920.4
|
90.4
|
395.1
|
-
|
16,405.9
|
Segment liabilities
|
9,914.7
|
96.0
|
752.2
|
-
|
10,762.9
|
Year Ended
|
Ryanair DAC
|
Malta Air
|
Other Airlines
|
Elimination
|
Total
|
Mar 31,
|
Mar 31,
|
Mar 31,
|
Mar 31,
|
Mar 31,
| |
2022
|
2022
|
2022
|
2022
|
2022
| |
€M
|
€M
|
€M
|
€M
|
€M
| |
Scheduled revenue
|
2,616.1
|
-
|
36.4
|
-
|
2,652.5
|
Ancillary revenue
|
2,148.4
|
-
|
-
|
-
|
2,148.4
|
Inter-segment revenue
|
698.5
|
679.4
|
406.9
|
(1,784.8)
|
-
|
Segment revenue
|
5,463.0
|
679.4
|
443.3
|
(1,784.8)
|
4,800.9
|
Reportable segment (loss)/profit after income tax (i)
|
(354.7)
|
5.9
|
(6.2)
|
-
|
(355.0)
|
Other segment information:
| |||||
Net Finance Expense
|
87.8
|
-
|
3.6
|
-
|
91.4
|
Depreciation
|
660.1
|
-
|
59.3
|
-
|
719.4
|
Capital Expenditure
|
1,527.8
|
-
|
5.0
|
-
|
1,532.8
|
Segment assets
|
14,832.1
|
69.6
|
248.1
|
-
|
15,149.8
|
Segment liabilities
|
8,879.3
|
85.3
|
639.9
|
-
|
9,604.5
|
Year Ended
Mar 31, 2023
|
Year Ended
Mar 31, 2022
| ||
€M
|
€M
| ||
Italy
|
2,364.5
|
1,188.8
| |
Spain
|
1,883.4
|
873.8
| |
United Kingdom
|
1,589.7
|
564.0
| |
Ireland
|
640.4
|
229.6
| |
Other
|
4,297.2
|
1,944.7
| |
Total revenue
|
10,775.2
|
4,800.9
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
| |
2023
|
2023
|
2022
|
2022
| |
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
|
53.2
|
53.2
|
160.4
|
160.4
|
- Jet fuel & carbon derivative forward contracts
|
-
|
-
|
22.2
|
22.2
|
- Interest rate swaps
|
1.4
|
1.4
|
2.5
|
2.5
|
54.6
|
54.6
|
185.1
|
185.1
| |
Current financial assets
| ||||
Derivative financial instruments:
| ||||
- U.S. dollar currency forward contracts
|
226.2
|
226.2
|
313.7
|
313.7
|
- Jet fuel options
|
14.1
|
14.1
|
150.5
|
150.5
|
- Jet fuel & carbon derivative forward contracts
|
49.6
|
49.6
|
934.1
|
934.1
|
- Interest rate swaps
|
2.2
|
2.2
|
2.1
|
2.1
|
292.1
|
292.1
|
1,400.4
|
1,400.4
| |
Trade receivables*
|
59.7
|
43.5
| ||
Cash and cash equivalents*
|
3,599.3
|
2,669.0
| ||
Financial asset: cash > 3 months*
|
1,056.2
|
934.1
| ||
Restricted cash*
|
19.5
|
22.7
| ||
5,026.8
|
292.1
|
5,069.7
|
1,400.4
| |
Total financial assets
|
5,081.4
|
346.7
|
5,254.8
|
1,585.5
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
|
At Mar 31,
| |
2023
|
2023
|
2022
|
2022
| |
Carrying
|
Fair
|
Carrying
|
Fair
| |
Amount
|
Value
|
Amount
|
Value
| |
Non-current financial liabilities
|
€M
|
€M
|
€M
|
€M
|
Derivative financial instruments:
| ||||
- Jet fuel & carbon derivative contracts
|
8.1
|
8.1
|
-
|
-
|
- U.S. dollar currency forward contracts
|
3.1
|
3.1
|
-
|
-
|
11.2
|
11.2
|
-
|
-
| |
Non-current maturities of debt
| ||||
- Long-term debt
|
812.3
|
812.3
|
924.8
|
927.1
|
- Bonds
|
2,040.9
|
1,928.4
|
2,789.8
|
2,792.1
|
2,853.2
|
2,740.7
|
3,714.6
|
3,719.2
| |
Trade payables
|
-
|
-
|
49.2
|
49.2
|
2,864.4
|
2,751.9
|
3,763.8
|
3,768.4
| |
Current financial liabilities
| ||||
Derivative financial instruments:
| ||||
- Jet fuel & carbon derivative contracts
|
341.7
|
341.7
|
7.6
|
7.6
|
- U.S. dollar currency forward contracts
|
44.9
|
44.9
|
31.0
|
31.0
|
386.6
|
386.6
|
38.6
|
38.6
| |
Current maturities of debt:
| ||||
- Short-term debt
|
76.8
|
76.8
|
152.1
|
152.1
|
- Promissory notes
|
230.6
|
230.6
|
225.9
|
225.9
|
- Bonds
|
749.3
|
744.3
|
846.5
|
855.0
|
1,056.7
|
1,051.7
|
1,224.5
|
1,233.0
| |
Trade payables*
|
1,065.5
|
1,029.0
| ||
Accrued expenses*
|
1,276.6
|
953.0
| ||
3,785.4
|
1,438.3
|
3,245.1
|
1,271.6
| |
Total financial liabilities
|
6,649.8
|
4,190.2
|
7,008.9
|
5,040.0
|
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Disclaimer
Ryanair Holdings plc published this content on 22 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 May 2023 09:38:17 UTC.