Wizz Air (WIZZ) Q1 2025 earnings summary

Executive summary

• Q1 F25 net profit was €1.2m, impacted by €27m FX losses and one-off wet lease costs, while operational KPIs and cash generation improved.

• Revenue environment remained robust, with unit revenue up over 3% year-on-year and total revenue rising 1.8% to €1,259.3m, despite capacity constraints and competitive fare pressures.

• Operational resilience was demonstrated with improved aircraft utilization, on-time performance, and a 99.8% completion rate, supported by technology and staff investments.

• Suboptimal fleet mix and GTF engine groundings increased costs, partially offset by supplier compensation.

• Recognized as Most Sustainable Low-Cost Airline for the fourth consecutive year.

Financial highlights

• Q1 revenue reached €1,259.3m, with ticket revenue up 2% and ancillary revenue up 1.7% year-on-year.

• EBITDA increased 16% year-on-year to €274.6m, but net profit dropped to €1.2m from €61.1m due to FX and wet lease costs.

• Adjusted ex-fuel CASK rose 8.2% year-on-year to 2.72c, mainly due to one-off costs; total CASK up 7% to 4.30c.

• Gross cash position improved to €1.84bn, with free cash flow at €651m and liquidity at 33.9% of last twelve months' revenue.

• Leverage ratio fell below 4.0x, down from 7.1x year-on-year.

Outlook and guidance

• Net profit guidance for FY25 set at €350m–€450m, reflecting flat capacity, moderated revenue, and ongoing ATC and operational challenges.

• Load factor guidance maintained at 92%; ex-fuel CASK to remain up high single digit percent year-on-year.

• Capacity (ASKs) expected flat year-on-year for both H1 and H2 F25; annual capacity growth to resume in F26.

• Wet lease costs to phase out by end of October/Q3, with some residual contractual costs possible.

• Fleet growth for FY26 expected at sub-20% due to Airbus delivery delays, with 260–270 aircraft projected by year-end.