July 29, 2022
- Strong recovery of passenger numbers after end of COVID related travel restrictions and a profit in the last month of the quarter.
- Recovery and results impacted by continuing geopolitical and economic turbulence.
- +263% passengers (total 1 552 174)
- +19% cargo units (total 109 380)
- +139% unaudited consolidated revenue (total EUR 206.0 million)
- Unaudited EBITDA EUR 28.7 million (EUR 4.4 million in Q2 2021)
- Although the group reached a net profit in June this year, the unaudited net loss for the quarter as a whole was EUR 0.7 million (net loss of EUR 24.3 million in Q2 2021).
- The group’s pre-fuel cost EBITDA in Q2 2022 was almost comparable to 2019 Q2 levels, being only EUR 2.0 million lower than in 2019 and thus clearly demonstrating the group’s increased operational efficiencies.
- The company has taken a number of steps to mitigate the risks related to the rising fuel costs, e.g. the introduction of a temporary fuel surcharge across its routes and the temporary suspension of the use of LNG due to significantly higher costs and supply issues.
- +227% passengers (total 2.3 million)
- +123% unaudited revenue (total EUR 312.2 million)
- Unaudited EBITDA for H1 2022 was EUR 17.7 million (EUR -1.9 million in H1 2021)
- Unaudited net loss was EUR 40.7 million (EUR 58.8 million in H1 2021)
- At the end of Q2 2022, the group’s net debt had decreased by EUR 32.6 million compared to the end of Q1 2022 and amounted to EUR 655.9 million.
- The company’s liquidity remained strong at the end of Q2 2022 with the group’s cash and cash equivalents amounting to EUR 90.6 million as at 30 June (EUR 37.8 million on 30 June 2021) and the group had EUR 116.7 million in unused credit lines (EUR 78.9 million on 30 June 2021). The total liquidity buffer (cash, cash equivalents and unused credit facilities) at the end of Q2 2022 amounted to EUR 207.3 million (EUR 116.7 million on 30 June 2021).
Historically always best quarter of the financial year due to the travel high season.