Wizz Air 3Q 19/20 - 3Q net profit ahead of expectations, slight guidance increase
The top line grew in 3Q by around 25% yoy to EUR 637 mn vs. RCBe EUR 617 mn and median Bloomberg consensus of EUR 624 mn (only 4 contributors incl. RCB). The company recorded a net profit of EUR 21.4 mn in the quarter, beating RCBe and consensus of EUR 6.3 mn and median consensus expectations of EUR 5.0 mn significantly. Additionally, the company slightly increased its FY 19/20 net profit guidance to EUR 350-355 mn (previously EUR 335-350 mn). Nevertheless, consensus already was expecting net income slightly above EUR 350 mn (RCBe EUR 348 mn). The result implies a negative net income of EUR -38 mn in 4Q to the upper range (1-3Q: Net Profit EUR 393 mn).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.
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