Declared Dividend • Jul 26
Dividend reduced to €0.20 Dividend of €0.20 is 14% lower than last year. Ex-date: 6th August 2026 Payment date: 17th September 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Jul 24
Ryanair Holdings plc, Annual General Meeting, Sep 10, 2026 Ryanair Holdings plc, Annual General Meeting, Sep 10, 2026. Notizie in diretta • Jul 21
Ryanair Q1 Net Profit Drops 34% as Jet Fuel Costs Surge on Geopolitical Risks Ryanair Holdings reported Q1 net profit of €538 million, a 34% decline, as jet fuel costs more than doubled due to the Iran war and the airline cut average fares by about 6% to support bookings.
The company said around 20% of its jet fuel was unhedged, contributing to an 11% rise in operating costs. It extended its fuel hedging program while holding back from giving a full-year profit forecast because of risks tied to Middle East and Ukraine conflicts, European air traffic control strikes and potential macro shocks.
Ryanair shares traded around €24.78, with the stock down 16.6% year to date.
The update highlights how exposed Ryanair is to fuel price swings and geopolitical disruption. A key question is how effectively its hedging and fare decisions can limit earnings volatility if these pressures persist. Annuncio • Jul 20
Ryanair Holdings plc Provides Production Guidance for the Fiscal Year 2027 Ryanair Holdings plc provided production guidance for the fiscal year 2027. FY27 traffic remains on track to grow 4% to 216 million passengers (H1 +6% & H2 +2%). The unit cost leadership continues to widen. The jet fuel is 80% hedged to March 2027 at c.$67bbl, insulating earnings from oil price volatility and helping offset a €300 million increase in EU enviro. taxes, significant crew pay increases under new multi-year CLAs and higher maintenance. Final FY27 unit costs will depend on the price of 20% unhedged jet fuel over the remaining 3 quarters. While S.26 volumes are strong, the booking window remains closer-in than last year which further reduces visibility. Despite a recent, slight, uptick in volumes, and less price stimulation, Second Quarter pricing is trending modestly down (y-o-y) and the final H1 fare outcome is heavily dependent on the strength of close-in bookings in Aug. and Sept. As is normal this early in the year, the company have zero H2 visibility so it remains far too early to provide any meaningful FY27 PAT guidance. Buy Or Sell Opportunity • Jul 03
Now 21% undervalued Over the last 90 days, the stock has risen 10% to €26.95. The fair value is estimated to be €34.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 6.2% per annum over the same time period. Reported Earnings • Jun 23
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: €2.06 (up from €1.46 in FY 2025). Revenue: €15.5b (up 11% from FY 2025). Net income: €2.17b (up 35% from FY 2025). Profit margin: 14% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 16% per year. Notizie in diretta • Jun 22
Ryanair Awards CEO Michael O’Leary Option Worth Up to 153 Million Euros for 2032 Targets Ryanair has extended CEO Michael O’Leary’s contract to April 2032, granting a one-time option over more than 10 million shares that could be worth up to €153 million, contingent on him staying in the role and meeting targets such as doubling the share price or reaching €4b in annual profits.
The new package keeps O’Leary on a relatively modest salary with a capped bonus, so most of his potential pay is tied to long-term performance, and still requires approval at Ryanair’s upcoming annual general meeting.
Ryanair’s shares trade at €26.33, with the stock down 11.3% year to date, which puts extra focus on how aligned leadership incentives are with shareholder outcomes.
This contract ties Ryanair’s long-serving CEO closely to share price and profit goals, so investors are effectively assessing the same scorecard that will determine most of his pay. Notizie in diretta • Jun 12
Ryanair Faces Higher Fuel Costs Weaker Fares and UK Probe Into Family Seat Fees Ryanair reports that European jet fuel supplies look secure through at least the end of June, but sustained high fuel prices are adding cost pressure and contributing to weaker airfares and a lower summer fare outlook.
The airline plans to close its Thessaloniki base this winter, citing high airport fees, and is trimming fares to stay competitive as demand appears softer.
The UK Competition and Markets Authority has opened an investigation into Ryanair’s £8 mandatory family seat fee for parents sitting with children, assessing whether it is an unfair contract term or illegal drip pricing under consumer law.
Taken together, Ryanair is dealing with a mix of operational headwinds from fuel and pricing, while also facing regulatory scrutiny that could influence its ancillary revenue model and brand perception with customers.
For investors, the key watchpoints are how sustained cost pressures affect unit economics and whether any CMA outcome leads to changes in fee structures or additional compliance costs. Major Estimate Revision • May 25
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from €16.4b to €16.2b. EPS estimate also fell from €2.22 per share to €1.92 per share. Net income forecast to shrink 7.2% next year vs 21% decline forecast for Airlines industry in Ireland. Consensus price target down from €31.45 to €29.78. Share price rose 5.5% to €24.37 over the past week. Reported Earnings • May 19
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: €2.06 (up from €1.46 in FY 2025). Revenue: €15.5b (up 11% from FY 2025). Net income: €2.17b (up 35% from FY 2025). Profit margin: 14% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Notizie in diretta • May 16
Ryanair Cuts Fares to Defend Load Factors as Costs Stay High for Summer Peak Ryanair’s CEO says European jet fuel suppliers do not expect shortages through June, reducing the risk of disruption despite tensions in the Middle East.
Sustained high jet fuel prices are pressuring profits, while consumer uncertainty linked to the Iran war is weighing on demand.
The airline is cutting fares and expects ticket prices to be down by a mid-single-digit % in the April to June quarter and broadly flat over the summer. It will also close its Thessaloniki base this winter because of high airport fees.
The picture for you is a company prioritising load factors and operational continuity, even as unit costs rise and pricing power looks limited for the coming peak season.
Investors may want to pay close attention to how fare cuts and base closures flow through to margins and whether cost pressures ease enough to offset weaker revenue per passenger. New Risk • Apr 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Irish stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.2% average weekly change). Buy Or Sell Opportunity • Mar 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to €23.89. The fair value is estimated to be €30.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. Reported Earnings • Jan 27
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: €0.029 (down from €0.14 in 3Q 2025). Revenue: €3.21b (up 8.6% from 3Q 2025). Net income: €30.4m (down 80% from 3Q 2025). Profit margin: 0.9% (down from 5.0% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 73%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Jan 27
Ryanair Holdings plc Provides Traffic Guidance for the Fiscal Year 2027 Ryanair Holdings plc provided traffic guidance for the fiscal year 2027. for the year, the company expects to deliver 4% traffic growth to 216 million passengers. Annuncio • Jan 26
Ryanair Holdings plc Revises Traffic Guidance for the Fiscal Year 2026 Ryanair Holdings plc revised traffic guidance for the fiscal year 2026. for the year, the company expects traffic to grow 4% to almost 208 million passengers (previously 207 million), due to strong demand and earlier than expected Boeing deliveries. Upcoming Dividend • Jan 08
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 15 January 2026. Payment date: 25 February 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Irish dividend payers (4.3%). Lower than average of industry peers (2.3%). Annuncio • Jan 08
eDreams ODIGEO Secures Rulings, Ryanair Fined for Breach of Court Order and Forced to Cease Unlawful Practices Ryanair has been fined by the Regional Court of Hamburg for its refusal to comply with judicial mandates, marking yet another instance where the airline refuses to respect the rule of law. The German court imposed a penalty on Ryanair for breaching an injunction granted to eDO in May 2025. The Judge ruled that the airline acted with "fault" by leaving banned terms on its website after being ordered to remove them. Dismissing Ryanair's defence that these delays were "outside its control" as baseless, the Court highlighted that as a major European airline, Ryanair possesses the necessary resources to comply with court orders immediately but chose not to. Ryanair continues in breach of this order as of today. This decision reinforces Ryanair's disregard for legal authority, a trend visible across Europe. The ruling arrives shortly after Ryanair faced record-breaking sanctions in other jurisdictions, including a €256 million fine in Italy for abuse of dominance and a €108 million fine in Spain for serious consumer rights breaches, alongside prior condemnations in France for violating EU passenger rights regulations, among others. Crucially, the German Court's finding of "bad faith" confirms a specific pattern of obstruction that mirrors the airline's conduct elsewhere. In Spain, Ryanair continues to flagrantly breach binding orders issued by Commercial Court No. 12 of Barcelona. Despite receiving an unprecedented formal warning regarding potential criminal liabilities for ignoring prior interim measures, the airline continues to this date to ignore the Court's mandate to cease its unfair competition and retract denigrating falsehoods that mislead consumers. In light of this systematic unlawful behaviour, eDreams ODIGEO is calling on authorities across Europe to urgently enforce their duty and protect consumers from Ryanair's non-compliance. In a separate substantive ruling secured by eDO, the Hamburg Court dismantled key pillars of Ryanair's anti-consumer strategy: Deceptive consent: The Court ruled that Ryanair's mechanism for forcing user consent through a "Search" button that automatically pre-ticks a box for Terms & Conditions is prohibited. The judgment found this design deceives consumers into believing they have made a choice when they have not, invalidating the very terms Ryanair uses to restrict passengers. Abusive refund restrictions: The Court declared Ryanair's blanket "non-refundable" policy (Clause 10.1) invalid, confirming it illegally contradicts statutory law and misleads passengers about their rights to reimbursement. Illegal fees: The airline's "administration fee" for processing government tax refunds was also declared void. The Judge ruled this fee is "unreasonably disadvantageous" as it often exceeds the refund amount itself, effectively allowing Ryanair to pocket public taxes that belong to the customer. eDreams ODIGEO has long voiced concerns about Ryanair's breach of refund regulations and urges authorities to enforce compliance to protect consumers. Declared Dividend • Dec 08
First half dividend reduced to €0.19 Dividend of €0.19 is 13% lower than last year. Ex-date: 15th January 2026 Payment date: 25th February 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (21% cash payout ratio). The dividend has increased by an average of 14% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Dec 05
Ryanair Holdings plc Announces Interim Dividend for Financial Year 2026, Payable on 25 February, 2026 Ryanair Holdings plc announced that the financial year 2026 interim dividend of €0.193 per ordinary share will be payable to shareholders on the register of members at close of business on 16 January, 2026. The dividend will be paid on 25 February, 2026. Reported Earnings • Nov 04
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: €1.62 (up from €1.29 in 2Q 2025). Revenue: €5.48b (up 8.2% from 2Q 2025). Net income: €1.72b (up 20% from 2Q 2025). Profit margin: 31% (up from 28% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Sep 12
Ryanair Holdings plc Announces Board Changes, Effective 1 October 2025 On September 10, 2025, the Board of Ryanair Holdings plc announced that Capt. Ray Conway has agreed to join the Board to replace Mike O'Brien as a Non-Executive Director with oversight of Air Safety effective from 1 October 2025. Capt. Conway, has a long and distinguished career in the aviation industry. After serving 13 years as a pilot in the Irish Air Corps, Ray joined Ryanair in 1987 and served as Chief Pilot from 2002 until his retirement in 2020. Since then, Ray has provided consultancy services on operational and safety matters to a number of large, international, airlines (incl. Ryanair). Annuncio • Jul 31
Ryanair Holdings plc Announces Not to Seek Re-Election of Capt. Mike O'brien as Non-Executive Director The Board of Ryanair Holdings plc today (29 July) announced that Capt. Mike O'Brien has chosen not to seek re-election at the Sept. AGM, having completed over 9 years as a Non-Executive Director of Ryanair Holdings, in line with sound governance practice. Annuncio • Jul 25
Ryanair Holdings plc, Annual General Meeting, Sep 11, 2025 Ryanair Holdings plc, Annual General Meeting, Sep 11, 2025. Annuncio • Jul 21
Ryanair Holdings plc Provides Production and Earnings Guidance for the Fiscal Year 2026 Ryanair Holdings plc provided production and earnings guidance for the fiscal year 2026. For the period, the company's traffic remains on track to grow just 3% to 206 million passengers, due to heavily delayed Boeing deliveries. It remains too early to provide meaningful fiscal year 2026 PAT guidance. The company do, however, cautiously expected to recover almost all of last years 7% full-year fare decline, which should lead to reasonable net profit growth in fiscal year 2026. Annuncio • Jul 03
Ryanair Holdings plc Cancels Flights Due to French ATC Strike; Calls for Eu Reform Ryanair Holdings plc called on EU Commission President, Ursula von der Leyen, to take urgent action to reform EU ATC services after the airline was forced to cancel 170 flights disrupting over 30,000 passengers due to yet another French ATC strike on Thur and Fri (3 & 4 July). These enforced cancellations by French ATC coincide once more with the start of the European summer holidays - one of the busiest travel periods of the year. In addition to flights to/from France being cancelled, this strike will also affect all French overflights. This is due to France's continued failure to protect overflights during national ATC strikes. Even though it's French ATC that are striking, most disrupted passengers are not even flying to/from France but just overflying French airspace en route to their destination (e.g., UK - Greece, Spain - Ireland, etc.). EU skies cannot be repeatedly closed just because French Air Traffic Controllers are going on recreational strikes. Buy Or Sell Opportunity • Jun 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to €23.10. The fair value is estimated to be €19.23, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Price Target Changed • Jun 09
Price target increased by 7.6% to €25.07 Up from €23.29, the current price target is an average from 20 analysts. New target price is approximately in line with last closing price of €24.28. Stock is up 41% over the past year. The company is forecast to post earnings per share of €1.93 for next year compared to €1.46 last year. Buy Or Sell Opportunity • Jun 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €23.75. The fair value is estimated to be €19.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • May 19
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: €1.46 (down from €1.68 in FY 2024). Revenue: €13.9b (up 3.8% from FY 2024). Net income: €1.61b (down 16% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.3%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 28
Third quarter 2025 earnings released: EPS: €0.14 (vs €0.013 in 3Q 2024) Third quarter 2025 results: EPS: €0.14 (up from €0.013 in 3Q 2024). Revenue: €2.96b (up 9.7% from 3Q 2024). Net income: €148.6m (up €133.8m from 3Q 2024). Profit margin: 5.0% (up from 0.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 09
Upcoming dividend of €0.22 per share Eligible shareholders must have bought the stock before 16 January 2025. Payment date: 26 February 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Irish dividend payers (6.5%). In line with average of industry peers (2.5%). Declared Dividend • Dec 19
First half dividend of €0.22 announced Shareholders will receive a dividend of €0.22. Ex-date: 16th January 2025 Payment date: 26th February 2025 Dividend yield will be 2.1%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (48% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 43% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annuncio • Dec 06
Ryanair Holdings plc Announces Interim Dividend, Payable on February 26, 2025 Ryanair Holdings plc announced that the FY25 interim dividend of €0.223 per ordinary share will be payable to shareholders on the register of members at close of business on 17 January, 2025. The dividend will be paid on 26 February, 2025. Ex-Dividend Date 16 January 2025, Record Date 17 January 2025. New Risk • Nov 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (11% net profit margin). Annuncio • Aug 30
Ryanair Holdings plc Announces Resignation of Roberta Neri as an Italian Non-Executive Director, Effective September 1, 2024 The Board of Ryanair Holdings plc announced that it has been notified by Roberta Neri, an Italian Non-Executive Director, that she plans to step down from the Board from 1 September 2024 next to avoid any appearance of a conflict of interest. Ms. Neri is an Operating Partner at Asterion Industrial Partners, a Spanish investment fund focusing on European infrastructures, which has recently announced plans to make an equity investment in a number of larger Italian airports from October 2024. Ryanair is one of the main customer airlines operating to/from many of these airports. In order to avoid any appearance of a conflict of interest, Ms. Neri has advised the Board that she does not feel it would be appropriate to continue as a NED of Ryanair while at the same time holding her operating partner role with an investment fund which owns a significant stake in a number of these Italian Airports. Price Target Changed • Jul 23
Price target decreased by 16% to €20.04 Down from €23.83, the current price target is an average from 19 analysts. New target price is 47% above last closing price of €13.63. Stock is down 13% over the past year. The company is forecast to post earnings per share of €1.39 for next year compared to €1.68 last year. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €13.63, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Airlines industry in Europe. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.01 per share. Buy Or Sell Opportunity • Jul 22
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €13.63. The fair value is estimated to be €19.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Annuncio • Jul 22
Ryanair Holdings plc Wins Its Case Against Booking.com in Delaware Court Ruling Ryanair Holdings Plc welcomed the unanimous verdicts of the jury in the Delaware District Court, which last evening unanimously ruled in favour of Ryanair's claims that Booking.com had violated the US Computer Fraud and Abuse Act, causing loss to Ryanair. The jury also ruled that Booking.com had done so knowingly with "intent to defraud", and that Ryanair had suffered economic harm as a result of Booking.com's unlawful screenscraping activity. The Delaware Court jury also dismissed all Booking.com's counterclaims against Ryanair, which included claims for defamation, unfair competition, and deceptive trade practices. These Delaware Court rulings prove that Booking.com was knowingly engaged in unlawful screenscraping of the Ryanair.com website, with an intent to defraud Ryanair. Ryanair has long complained about the deceptive practices of OTA Pirates like Booking.com, who used intermediate software providers to scrape Ryanair's website, and then use this information to overcharge consumers for Ryanair air fares and/or ancillary services but mask these anti-consumer practices by making bookings using fake customer emails and fake customer payment cards. Reported Earnings • Jun 30
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: €1.68 (up from €1.16 in FY 2023). Revenue: €13.4b (up 25% from FY 2023). Net income: €1.92b (up 46% from FY 2023). Profit margin: 14% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Available seat kilometres (ASK): 244.61b (up 10% from FY 2023). Passenger load factor: 94.7% (up from 93.5% in FY 2023). Total aircraft: 584 (up by 47 from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jun 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €17.20. The fair value is estimated to be €21.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. New Risk • Jun 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Irish stocks, typically moving 4.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (4.1% average weekly change). Annuncio • May 23
Ryanair Holdings plc (ISE:RYA) commences an Equity Buyback Plan for 113,893,453 shares, representing 10% of its issued share capital, under the authorization approved on September 14, 2023. Ryanair Holdings plc (ISE:RYA) commences share repurchases on May 21, 2024, under the program mandated by the shareholders in the Annual General Meeting held on September 14, 2023. As per the mandate, the company is authorized to repurchase up to 113,893,453 shares, representing 10% of its issued share capital. The maximum price at which Ordinary Shares traded on Euronext Dublin could be repurchased would be the higher of 5% above the average market value of the Company’s Ordinary Shares on the trading venue where the shares are being repurchased for the five business days prior to the date of purchase and the price stipulated by the European Commission Delegated Regulation being the higher of the last independent trade and the highest current independent bid on the trading venue on which the shares are being repurchased. The maximum price at which Ordinary Shares which underlie the Company’s ADSs which are traded on NASDAQ could be repurchased would be 5% above one-fifth of the average market value of the Company’s ADSs on NASDAQ for the five business days prior to the date of purchase. The minimum price at which Ordinary Shares could be repurchased would be €0.006 per share. Any ADSs purchased will be converted to Ordinary Shares and cancelled, as will Ordinary Shares repurchased and the number of Ordinary Shares in issue will reduce accordingly. The authority shall expire at the earlier of the date of the AGM of the Company in 2024 or 15 months from the date of the passing of this Resolution. As of September 14, 2023, the company had 1,138,934,528 shares issued. New Risk • May 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • May 21
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: €1.68 (up from €1.16 in FY 2023). Revenue: €13.4b (up 25% from FY 2023). Net income: €1.92b (up 46% from FY 2023). Profit margin: 14% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Annuncio • May 21
Ryanair Holdings plc Appoints Jinane Laghrari Laabi and Amber Rudd as Non-Executive Directors, Effective from 1 July 2024 The Board of Ryanair Holdings plc (20 May, 2024) announced that Ms. Jinane Laghrari Laabi, a Moroccan citizen, and Ms. Amber Rudd, a UK citizen, have agreed to join the Board of Ryanair Holdings plc as non-executive directors effective from 1 July 2024. Jinane is a former partner with McKinsey & Co. (Casablanca) covering Morocco, Africa & Middle East. She is a non-executive director of Aluminium Du Moroc (a public listed company in Morocco). Amber is a former UK Minister and MP who held senior cabinet positions including Home Secretary and Secretary of State for Energy and Climate Change. She is a non-executive director of Centrica plc. Annuncio • Mar 09
Ryanair Holdings plc Announces Michael Cawley Will Not Seek Re-Election At the 2024 Annual General Meeting Ryanair Holdings plc announced that Michael Cawley has confirmed that he is not seeking re-election at the 2024 AGM (in Sept.), having reached his nine-year tenure as a Non-Executive Director, no further engagement was deemed necessary in relation to resolution 4(g). The Board considers Mr. Cawley as independent within the spirit and meaning of the UK Corp. Governance code. Annuncio • Feb 23
Ryanair Holdings plc, Annual General Meeting, Sep 12, 2024 Ryanair Holdings plc, Annual General Meeting, Sep 12, 2024. Annuncio • Feb 01
Ryanair Holdings plc Provides Earnings Guidance for the Year 2024 Ryanair Holdings plc provided earnings guidance for the year 2024. For the year, the company narrowing full year Fiscal Year '24 profit after tax guidance to a range of between EUR 1.85 billion to EUR 1.95 billion. Reported Earnings • Jan 30
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: €0.013 (down from €0.18 in 3Q 2023). Revenue: €2.70b (up 17% from 3Q 2023). Net income: €14.8m (down 93% from 3Q 2023). Profit margin: 0.5% (down from 8.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 88%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Airlines industry in Europe. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annuncio • Jan 23
Ryanair Holdings plc Appoints Roberta Neri as A Non-Executive Director Effective from 1 February 2024 The Board of Ryanair Holdings plc announced that Ms. Roberta Neri, an Italian citizen, has agreed to join the Board as a non-executive director effective from 1 February 2024. Ms. Neri is a former CEO of ENAV, the Italian Air Navigation Services provider, where she managed the IPO process on the Italian stock exchange. Prior to that, she was CFO of ACEA (one of the major Italian utility companies). Ms. Neri has over 30 years experience in both corporate and financial services industries. A founding member and board director of Byom (a consulting firm focused on investment funds and companies operating in the industrial, renewable energy and infrastructure sector), Ms. Neri is also currently an Operating Partner at Asterion Industrial Partners (an independent investment management firm focusing on European infrastructure). 
