Model update - RASK improves, but the FX distorts
Wizz Air will report its fiscal Q3/25 earnings on the 30th of January BMO.We expect the PAT to come in at EUR -206mn, driven by a significant FX
revaluation loss of EUR 200mn on the back of USD appreciation. EBIT may
come in at EUR 4mn in fiscal Q3, up by EUR 184mn compared to a year
ago, resulting from a mix of RASK improvement and fuel cost savings. We
roll-over our TP to Mar-26 and set it at GBP 22.1 a share, implying an
upside potential of 59%
Wizz Air Holding is a European airline. As of Mar 31 2017, Co. provided more than 500 routes from 28 bases, connecting 141 destinations across 42 countries. Co. has two reportable segments: the airline and the tour operator business units, marketed under the Wizz Air and Wizz Tours brand names, respectively. Wizz Air sells flight tickets and related services to external customers and, to an extent, to Wizz Tours. Wizz Tours sells travel packages to external customers covering the network of Wizz Air.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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