Wizz Air (WIZZ) Q3 2025 earnings summary

Executive summary

• Q3 F25 revenue rose 11% year-over-year, with ticket RASK up 15% and ancillary RASK up 10%, and record 15.5m passengers carried with a load factor of 90.3%.

• Operating loss narrowed by more than 50% YoY to -€76m, but net loss widened to €241m due to a €160m unrealized FX loss and higher maintenance and depreciation costs.

• Business context improved with the peak of GTF engine issues now behind, but 20% of the fleet remains grounded, impacting costs and operations.

• Cost optimization and network densification strategies are ongoing to mitigate cost pressures, with a focus on profitability and market leadership.

• Full-year profit guidance was cut due to higher-than-expected costs, engine maintenance issues, and FX volatility.

Financial highlights

• Total Q3 revenue reached €1,177m, up 11% YoY; passenger revenue up 13% to €626.2m, ancillary revenue up 8% to €550.7m.

• EBITDA improved to €157m (margin 13.3% vs 1.8% last year); operating loss reduced to -€76m from -€180m.

• Free cash flow for the quarter was EUR 189 million, with quarter-end cash at EUR 1.6 billion after early prepayment of a EUR 171 million PDP facility.

• Net profit for the nine months ended 31 Dec 2024 was €74.2m, down from €295.3m year-over-year.

• Total CASK up 3.7% YoY to 4.25 euro cents; ex-fuel CASK up 16.8% due to ongoing aircraft groundings.

Outlook and guidance

• FY25 full-year adjusted net profit guidance lowered to €250-300m before unrealized FX losses; reported NPAT expected at €125-175m at current FX rates.

• RASK expected to maintain mid-single digit YoY increase; ex-fuel CASK to rise to high teens YoY; fuel CASK down 3-5%.

• FY25 capacity (ASKs) now expected flat year-over-year; load factor maintained at 92%.

• Annual capacity growth of 15-20% expected over the next five years, with fleet to grow from 230 to 305 aircraft by March 2028.

• Industry-leading net margin and investment grade balance sheet targeted within 3 years.