WOOD Flash: Wizz Air: 4Q FY23 – miss vs. consensus on higher opex, forward-looking guidance implies upside
Wizz's 4Q FY23 revenues were broadly in line with the consensus estimate (with a slight miss on pricing), the operating costs were materially higher than the consensus expected, resulting in a fairly substantial miss on both the EBIT and EBITDA. We believe that this underscores the importance of ramping up the utilisation to the pre-pandemic levels, which is the key objective that Wizz Air is facing this year, in our view.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.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
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