Ryanair 2016 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2016 Ryanair annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 205

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205

9
Directors’ Report
Introduction
The directors present their Annual Report and audited consolidated and company financial statements of Ryanair
Holdings plc (“the Company”) a public limited company incorporated in the Republic of Ireland, and its subsidiary
undertakings (with the Company and the subsidiaries being together “the Group”) for the year ended March 31, 2016.
Review of business activities and future developments in the business
The Company operates an ultra-low cost airline business and plans to continue to develop this activity by expanding
its successful lower fares/lower costs formula on new and existing routes. Information on the Company is set out on
pages 68 to 91 of the Annual Report. A review of the Company’s operations for the year is set out on pages 91 to 106 of
the Annual Report.
Results for the year
Details of the results for the year are set out in the consolidated income statement on page 145 of the Annual Report
and in the related notes to the financial statements.
Principal risks and uncertainties
Details of the principal risks and uncertainties facing the Company are set forth on pages 54 to 66 of the Annual
Report.
Key performance indicators
Details of the key performance indicators relevant to the business are set forth on pages 53; 68 to 91; and 91 to 106
of the Annual Report.
Financial risk management
Details of the Company’s financial risk management objectives and policies and exposures to market risk are set
forth in Note 11 on pages 168 to 179 of the consolidated financial statements.
Share capital
The number of ordinary shares in issue at March 31, 2016 was 1,290,739,865 (2015: 1,377,661,859; 2014:
1,383,237,668). Details of the classes of shares in issue and the related rights and obligations are more fully set out in
Note 15 on pages 183 of the consolidated financial statements.
Accounting records
The directors believe that they have complied with the requirements of Section 281 of the Companies Act, 2014
with regard to adequate accounting records by employing financial personnel with appropriate expertise and by providing
adequate resources to the financial function. The accounting records of the Company are maintained at its registered
office, Ryanair, Dublin Office, Airside Business Park, Swords, Co. Dublin, K67 NY94, Ireland.
Company information
The Company was incorporated on August 23, 1996 with a registered number of 249885. It is domiciled in the
Republic of Ireland and has its registered offices at Ryanair, Dublin Office, Airside Business Park, Swords, Co. Dublin,
K67 NY94, Ireland. It is a public limited company and operates under the laws of Ireland.
Staff
At March 31, 2016, the Company had a team of 11,458 people. This compares to 9,393 people at March 31, 2015
and 8,992 people at March 31, 2014.