London · Delayed Price · Currency is GBP · Price in GBX easyJet Earnings Call Transcripts
Fiscal Year 2025
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Earnings grew for a third consecutive year, with PBT up 9% to GBP 665 million and strong holidays segment growth. Strategic investments in fleet, network, and resilience measures support medium-term targets, despite ongoing operational and geopolitical challenges.
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Profit before tax rose 9% to GBP 665 million, with EBIT up 18% and ROCE at 18%. easyJet holidays exceeded targets, achieving GBP 250 million PBT and setting a new GBP 450 million goal for 2030. Network and fleet investments, digital enhancements, and disciplined capital allocation underpin future growth.
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H1 loss was £394 million, but operational improvements and cost reductions position the business for a strong summer and early delivery of medium-term profit targets. Capacity growth is moderating, demand is robust, and liquidity remains high.
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Winter losses narrowed and Q1 saw a GBP 65 million year-on-year improvement, with strong demand and robust growth in easyJet Holidays. Cost efficiencies, fleet modernization, and digital initiatives support a positive outlook, despite capacity constraints and supply chain risks.
Fiscal Year 2024
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Profit before tax rose 34% to GBP 610 million, driven by strong summer results, reduced winter losses, and a 56% increase in holidays profit. FY25 guidance includes 3% seat growth, 8% ASK growth, and a proposed 20% dividend, with continued focus on cost control and network optimization.
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Capital deployment focuses on maximizing returns from the existing fleet, disciplined upgauging, and expanding holidays and ancillary revenues. Strong liquidity and investment-grade ratings support growth, with a target to double profitability and achieve high teen ROCE by 2028.