Results centre

2016 Full Year Results


Full year results statement
  • Return on capital employed at 14.6% remains significantly above easyJet’s cost of capital
  • easyJet’s results demonstrate resilient underlying performance, delivered in spite of unprecedented external events which have impacted profit before tax by an estimated £150 million3 and net foreign exchange headwinds of £88 million. Profit before tax in the period was £495 million (2015: £686m)
  • Dividend declared of 53.8 pence per share (2015: 55.2 pence), in line with the Company’s increased payout policy of 50% of profit after tax
  • Business model and strategy underpinned by sector leading balance sheet strength: easyJet ended the year with net cash of £213 million (2015: £434 million) and sector leading credit rating (Standard and Poors: BBB+, Moodys: Baa1)
  • easyJet implements its strategy of purposeful, profitable growth to secure leading positions at primary airports to drive returns over the long term
  • Record number of passengers at 73.1 million, up 6.6% year on year with record load factor at 91.6% (2015: 91.5%), reflecting easyJet’s resilient business model and ability to drive demand, even in challenging markets
  • Capacity grew by 6.5% in the period to 80 million seats, as easyJet strengthened its leadership positions in selected markets
  • Total revenue of £4,669 million (a decline of 0.4%) and revenue per seat of £58.46 (a decline of 6.4%, and of 6.9% at constant currency reflecting the impact of external events
  • Total cost per seat improved by 2.0%, decreasing to £52.26 (a decrease of 4.6% at constant currency). Cost per seat excluding fuel increased by 2.6% to £38.31 and improved by 1.1% per seat at constant currency, slightly ahead of target, despite high levels of disruption
  2016 2015 Change
Total revenue (£ million) 4,669 4,686 (0.4%)
Profit before tax (£ million) 495 686 (27.9%)
Pre-tax margin (%) 10.6 14.6 -0.4 ppt
Basic earnings per share (pence) 108.7 139.1 (21.9%)
Proposed ordinary dividend per share (pence) 53.8 55.2 (2.5%)
Return on capital employed (%) 14.6 22.2 -7.6 ppt

Financial highlights

  • Return on capital employed at 14.6% remains significantly above easyJet’s cost of capital
  • easyJet’s results demonstrate resilient underlying performance, delivered in spite of unprecedented external events which have impacted profit before tax by an estimated £150 million3 and net foreign exchange headwinds of £88 million. Profit before tax in the period was £495 million (2015: £686m)
  • Dividend declared of 53.8 pence per share (2015: 55.2 pence), in line with the Company’s increased payout policy of 50% of profit after tax
  • Business model and strategy underpinned by sector leading balance sheet strength: easyJet ended the year with net cash of £213 million (2015: £434 million) and sector leading credit rating (Standard and Poors: BBB+, Moodys: Baa1)
  • easyJet implements its strategy of purposeful, profitable growth to secure leading positions at primary airports to drive returns over the long term

Operational highlights

  • Record number of passengers at 73.1 million, up 6.6% year on year with record load factor at 91.6% (2015: 91.5%), reflecting easyJet’s resilient business model and ability to drive demand, even in challenging markets
  • Capacity grew by 6.5% in the period to 80 million seats, as easyJet strengthened its leadership positions in selected markets
  • Total revenue of £4,669 million (a decline of 0.4%) and revenue per seat of £58.46 (a decline of 6.4%, and of 6.9% at constant currency reflecting the impact of external events
  • Total cost per seat improved by 2.0%, decreasing to £52.26 (a decrease of 4.6% at constant currency). Cost per seat excluding fuel increased by 2.6% to £38.31 and improved by 1.1% per seat at constant currency, slightly ahead of target, despite high levels of disruption

Financial summary

  2016 2015 Change
Total revenue (£ million) 4,669 4,686 (0.4%)
Profit before tax (£ million) 495 686 (27.9%)
Pre-tax margin (%) 10.6 14.6 -0.4 ppt
Basic earnings per share (pence) 108.7 139.1 (21.9%)
Proposed ordinary dividend per share (pence) 53.8 55.2 (2.5%)
Return on capital employed (%) 14.6 22.2 -7.6 ppt
Date Title Results Presentation Webcast
24 Jan 2017 Q1 Trading Update
Date Title Results Presentation Webcast
15 Nov 2016 Full year results statement
06 Oct 2016 Trading Update
21 Jul 2016 Q3 Trading Statement July 2016
10 May 2016 Half Year
26 Jan 2016 Trading Update
Date Title Results Presentation Webcast
17 Nov 2015 Full Year
03 Sep 2015 Trading Update
22 Jul 2015 Q3 Trading Statement July 2015
12 May 2015 Half Year
26 Mar 2015 Trading Update
27 Jan 2015 Trading Update
Date Title Results Presentation Webcast
18 Nov 2014 Full Year
03 Oct 2014 Trading Update
24 Jul 2014 Quarter 3
13 May 2014 Half Year
25 Mar 2014 Trading Update
23 Jan 2014 Quarter 1
Date Title Results Presentation Webcast
19 Nov 2013 Full Year
03 Oct 2013 Trading Update
24 Jul 2013 Quarter 3
15 May 2013 Half Year
05 Apr 2013 Trading Update
24 Jan 2013 Quarter 1
Date Title Results Presentation Webcast
20 Nov 2012 Full Year
25 Jul 2012 Quarter 3
09 May 2012 Half Year
26 Jan 2012 Quarter 1
Date Title Results Presentation Webcast
15 Nov 2011 2011 full year results
22 Jul 2011 Quarter 3
10 May 2011 Half year
20 Jan 2011 Quarter 1
16 Nov 2010 Full Year
28 Jul 2010 Quarter 3
11 May 2010 Half year
21 Jan 2010 Quarter 1
17 Nov 2009 Full Year
29 Jul 2009 Quarter 3
06 May 2009 Half yearly
22 Jan 2009 Quarter 1
18 Nov 2008 Full Year
24 Jul 2008 Quarter 3
07 May 2008 Half Yearly
07 Feb 2008 Quarter 1
20 Nov 2007 Full Year
07 Aug 2007 Quarter 3
09 May 2007 Half Yearly
07 Feb 2007 Quarter 1
14 Nov 2006 Full Year
03 May 2006 Half Yearly
22 Feb 2006 Quarter 3
22 Feb 2006 Quarter 1
22 Nov 2005 Full Year
05 Aug 2005 Quarter 3
24 May 2005 Half Yearly
07 Feb 2005 Quarter 1

2013

Date Title Results Presentation Webcast
19 Nov 2013 Full Year
03 Oct 2013 Trading Update
24 Jul 2013 Quarter 3
15 May 2013 Half Year
05 Apr 2013 Trading Update
24 Jan 2013 Quarter 1

2012

Date Title Results Presentation Webcast
20 Nov 2012 Full Year
25 Jul 2012 Quarter 3
09 May 2012 Half Year
26 Jan 2012 Quarter 1

Archive

Date Title Results Presentation Webcast
15 Nov 2011 2011 full year results
22 Jul 2011 Quarter 3
10 May 2011 Half year
20 Jan 2011 Quarter 1
16 Nov 2010 Full Year
28 Jul 2010 Quarter 3
11 May 2010 Half year
21 Jan 2010 Quarter 1
17 Nov 2009 Full Year
29 Jul 2009 Quarter 3
06 May 2009 Half yearly
22 Jan 2009 Quarter 1
18 Nov 2008 Full Year
24 Jul 2008 Quarter 3
07 May 2008 Half Yearly
07 Feb 2008 Quarter 1
20 Nov 2007 Full Year
07 Aug 2007 Quarter 3
09 May 2007 Half Yearly
07 Feb 2007 Quarter 1
14 Nov 2006 Full Year
03 May 2006 Half Yearly
22 Feb 2006 Quarter 3
22 Feb 2006 Quarter 1
22 Nov 2005 Full Year
05 Aug 2005 Quarter 3
24 May 2005 Half Yearly
07 Feb 2005 Quarter 1

2016

Date Title Results Presentation Webcast
15 Nov 2016 Full year results statement
06 Oct 2016 Trading Update
21 Jul 2016 Q3 Trading Statement July 2016
10 May 2016 Half Year
26 Jan 2016 Trading Update

2015

Date Title Results Presentation Webcast
17 Nov 2015 Full Year
03 Sep 2015 Trading Update
22 Jul 2015 Q3 Trading Statement July 2015
12 May 2015 Half Year
26 Mar 2015 Trading Update
27 Jan 2015 Trading Update

2014

Date Title Results Presentation Webcast
18 Nov 2014 Full Year
03 Oct 2014 Trading Update
24 Jul 2014 Quarter 3
13 May 2014 Half Year
25 Mar 2014 Trading Update
23 Jan 2014 Quarter 1

2017

Date Title Results Presentation Webcast
24 Jan 2017 Q1 Trading Update