Ryanair 2010 Annual Report Download - page 84

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RESULTS OF OPERATIONS
The following table sets forth certain income statement data (calculated under IFRS) for Ryanair
expressed as a percentage of Ryanair’s total revenues for each of the periods indicated:
Fiscal Year ended March 31,
2010 2009 2008
Total Revenues............................................................. 100% 100% 100%
Scheduled Revenues.................................................. 77.8 79.7 82.0
Ancillary Revenues ................................................... 22.2 20.3 18.0
Total Operating Expenses ............................................ 86.5 96.9 80.2
Staff Costs ................................................................. 11.2 10.5 10.5
Depreciation and Amortization ................................. 7.9 8.7 6.5
Fuel and Oil............................................................... 29.9 42.7 29.2
Maintenance, Materials and Repairs ......................... 2.9 2.3 2.1
Aircraft Rentals ......................................................... 3.2 2.7 2.7
Route Charges ........................................................... 11.3 9.8 9.5
Airport and Handling Charges................................... 15.4 15.1 14.6
Other.......................................................................... 4.8 5.1 5.1
Operating Profit............................................................ 13.5 3.1 19.8
Net Interest Income (Expense)..................................... (1.6) (1.9) (0.5)
Other Income (Expenses)............................................. (0.5)
(7.4) (3.1)
Profit/(Loss) before Taxation....................................... 11.4 (6.2) 16.2
Taxation ....................................................................... (1.2)
0.4 (1.8)
Profit/(Loss) after Taxation ......................................... 10.2
(5.8) 14.4
FISCAL YEAR 2010 COMPARED WITH FISCAL YEAR 2009
Profit/(Loss) after Taxation. Ryanair recorded a profit on ordinary activities after taxation of 1305.3
million in the 2010 fiscal year, as compared with a loss of 1169.2 million in the 2009 fiscal year. This profit was
primarily attributable to a 28.9% decrease in fuel and oil costs from 11,257.1 million to 1893.9 million, partially
offset by a decrease in revenues driven by a 12.7% decline in average fares.
Scheduled Revenues. Ryanair’s scheduled passenger revenues decreased 0.8%, from 12,343.9 million
in the 2009 fiscal year, to 12,324.5 million in the 2010 fiscal year, primarily reflecting a decrease of 12.7% in
average fares. The number of passengers booked increased 13.6%, from 58.6 million to 66.5 million, reflecting
increased scheduled passenger volumes on existing passenger routes and the successful launch of new bases at
Trapani, Pescara, Oporto, Bari, Brindisi, Leeds Bradford, Faro and Oslo (Rygge) in the 2010 fiscal year. There
was a one-percentage-point increase in booked passenger load factors from 81% in the 2009 fiscal year to 82%
in the 2010 fiscal year.
Passenger capacity (as measured in ASMs) during the 2010 fiscal year increased by 13.5% due to the
addition of 51 Boeing 737-800 aircraft (net of disposals), as well as a 12.3% increase in sectors flown and a
1.0% increase in the average length of passenger haul. Scheduled passenger revenues accounted for 77.8% of
Ryanair’s total revenues for the 2010 fiscal year, compared with 79.7% of total revenues in the 2009 fiscal year.
Ancillary Revenues. Ryanair’s ancillary revenues, which comprise revenues from non-flight scheduled
operations, car rentals, in-flight sales and Internet-related services (including insurance, accommodation and
cruises), increased 11.0%, from 1598.1 million in the 2009 fiscal year to 1663.6 million in the 2010 fiscal year,
while ancillary revenues per booked passenger decreased to 19.98 from 110.22. Revenues from non-flight
scheduled operations, including revenues from excess baggage charges, debit and credit card transactions, sales
of rail and bus tickets, accommodations and travel insurance, increased 8.9% to 1463.6 million from 1425.8
million in the 2009 fiscal year. Car rental revenues decreased 7.1%, to 129.9 million from 132.2 million in the
2009 fiscal year, reflecting the terms of a new contract with Hertz. Revenues from in-flight sales increased
4.0%, to 186.5 million from 183.2 million in the 2009 fiscal year. Revenues from Internet-related services,