Ryanair (NASDAQ: RYAAY) reported FY EPS of EUR1.67. Revenue for the period came in at EUR13.44 billion.

OUTLOOK

Ryanair expects to grow FY25 traffic by 8% (198m to 200m passengers), subject to Boeing deliveries returning to
contracted levels before year-end. Our cost advantage over competitors continues to widen, even though we expect
FY25 unit costs to rise modestly as ex-fuel costs (incl. annualised pay & productivity allowance increases, higher
handling & ATC fees and the impact of Gamechanger delivery delays on crewing ratios and fixed costs) is
substantially offset by our fuel hedge savings and our rising interest income. With EU short-haul capacity
constrained, S.24 demand is positive, with bookings trending ahead of last year. Recent pricing is softer than we
expected, with Q1 requiring more price stimulation than last year (particularly as half of Easter moved into Mar. and
out of Apr.). While visibility is limited, and the outcome will be heavily dependent on close-in peak S.24 pricing,
we remain cautiously optimistic that peak S.24 fares will be flat to modestly ahead of last summer. Q4 FY25 will
not benefit from an early Easter (as it did in FY24). It is therefore too early to be able to provide sensible or accurate
FY25 PAT guidance. The final outcome for FY25 will be heavily dependent upon avoiding adverse events during
FY25 (such as wars in Ukraine and the Middle East, extensive ATC disruptions or further Boeing delivery delays).”

For earnings history and earnings-related data on Ryanair (RYAAY) click here.