Ryanair Sales Hit €8.6 Billion, Operating Revenue Up 30 Percent, but Management Skeptical about Keeping Similar Pace Going Forward

Ryanair Holdings (RYAAY) just released its quarterly earnings report showing that revenue in 1H of fiscal 2023 rose to €8.6 Billion, posting an annual increase of 30%. During the period, commercial passenger traffic rose 11% YoY to 105.4 million, while diluted earnings per share rose 72% to €1.90. 1H total operating revenue came in at €8.58 Billion, compared to €6.62 Billion in the previous year. Excluding one-time items and goodwill, total operating revenues soared 30%.

As a result, in the three months ended September 30, profit attributable to shareholders increased by 26% YoY to €1.5 Billion, while diluted earnings per share, EPS, increased by 40% to €1.32. The BoD also declared a dividend of approximately €0.35 per share in aggregate, payable in Feb. 2024 and after the AGM in Sep. 2024, respectively.

“We are unlikely to repeat last year's best performance in the third quarter,” the company said in its forecast section as part of its earnings-release-related conference call. That notion actually makes sense, since the previous period was featured by one-time post-Covid bookings and traffic boost.