WOOD Flash – Wizz Air: 4Q FY18 results – predictable quarter, unimpressive guidance
Wizz Air reported its 4Q FY18 results today (24 May) and disclosed its full-year FY19E guidance. While the results were broadly in line with our expectations, the net profit guidance for FY19E came in below our forecast and the consensus. However, in our view, it is still very early to make such accurate statements regarding the full-year bottom line. During the conference call, management disclosed its positive stance on the year, despite the fuel price recovery. Overall, we see the results as fully neutral, but the guidance as slightly bearish. However, given the recent Ryanair guidance of net profit erosion, Wizz Air’s guidance of 12-24% bottom-line growth could be perceived as positive.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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