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Abonner SkyEurope Holding

SkyEurope Holding

euro adhoc: SkyEurope Holding
quarterly or semiannual financial statement / SkyEurope Q1/06 results: Revenue growth of 42.5% and improved financial performance • Higher revenues: +EUR 7.8m • Lower unit costs: -10.5% • More passengers: +42.6%

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  The issuer is responsible for the content of this announcement.
08.02.2006
In the first quarter of its financial year 2006, SkyEurope generated
net operating revenues in the amount of EUR 26.2m compared to EUR
18.4m in the first quarter of 2005, which corresponds to an increase
of 42.5%. A total of 409,946 passengers were carried, compared to
287,456 passengers in the same period of the previous year (+42.6%).
Load factor improved by 0.2%, reaching 65.9%.
Despite a strong competitive situation SkyEurope continued its growth
strategy by expanding in terms of destinations and frequencies. In
early December, SkyEurope started to offer flights to Bulgaria and
Romania as part of its "Go East" strategy. In addition, a winter
campaign was launched. Direct flight connections to attractive
European ski resorts have been introduced. SkyEurope now offers
direct flights to Milan/Bergamo, Salzburg and Innsbruck in the Alps
and to Poprad/Zakopane in the Tatra Mountains. In December 2005,
SkyEurope reached the milestone of three million passengers. For the
summer season several new destinations have been launched for sale
from Bratislava, Krakow and Budapest.
With the launch of new routes and the increased usage of larger
Boeing 737 aircraft, replacing the phased out Embraer 120 fleet, the
capacity in terms of available seat kilometers (ASK) increased by
38.1%. Operating costs rose by 23.8%.
The largest cost items were aircraft and traffic servicing (EUR
12.3m), fuel costs (EUR 11.9m), aircraft rental (EUR 6.1m), and
personnel expenses (EUR 4.1m). EBIT slightly improved by 0.6% to EUR
-14.0m. Due to significantly increased productivity, the negative
impact of high fuel prices, in the range of 29% above the previous
year, could be more than compensated. Adjusted by this fuel price
impact, this would have resulted in an EBIT improvement of 25%.
Net loss for the period was reduced by 0.5% and amounted to EUR
12.0m.
SkyEurope implemented a financial risk management program by hedging
its USD foreign currency risk. Given the current high jet kerosene
forward rates, the company has not yet entered into fuel hedging, but
has finalized the framework to start hedging at the right market
terms. SkyEurope expects fuel prices at an equivalent index of around
USD 60 bbl Brent for 2006.
"Despite high fuel costs, heavy competition and seasonal effects, we
were able to improve our first quarter results. We carried more
passengers, increased our revenues substantially and managed to drive
costs down" said Christian Mandl, CEO of SkyEurope. "With the first
new Boeing 737-700 NG aircraft joining our fleet in March 2006, we
will enhance our product offering, increase seat capacity and reduce
unit costs further. This will allow us to reinforce our leadership
position in Central and Eastern Europe."
Summary table of results (IFRS)
In thousands of EUR, unaudited
(quarter ended)                31 Dec 2005 31 Dec 2004 Change %
Net operating revenues         26,201      18,382      42.5%
EBITDAR                        (7,689)     (9,636)     20.2%
EBIT                           (13,974)    (14,059)    0.6%
Net loss for the period        (12,044)    (12,107)    0.5%
Passengers                     409,946     287,456     42.6%
Load factor                    65.9%       65.7%       0.2pp
Cost per ASK (EURc)            5.90        6.59        (10.5%)
end of announcement                               euro adhoc 08.02.2006 07:59:00

Further inquiry note:

SkyEurope Holding AG
Mag. Erhard Schmidt, CFO
Tel.:+421 2 4850 1180
mailto:investor.relations@skyeurope.com
http://www.skyeurope.com

Branche: Air Transport
ISIN: AT0000497003
WKN: A0F5WU
Index: WBI
Börsen: Wiener Börse AG / official market

Plus de actualités: SkyEurope Holding
Plus de actualités: SkyEurope Holding