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Norwegian realized a pre-tax profit of NOK 369.6 million in the second quarter. The contrast with the second quarter of last year, which gives a negative result of 909 million Norwegian kroner, could hardly be more important.
The new result is much better than expected and the action will rise sharply on the stock market. But the CEO himself is simply satisfied
– We are on the right track, but it's not good if we see it from a slightly longer standpoint, says Kjos at NTB after the quarterly presentation to Fornebu on Thursday. has had a high production, and it will take some time for production to take place.
– We have finished with big growth now and we will see more normal growth in the future. The new quarterly record
Operating profit amounted to NOK 153.6 million, compared with NOK 863 million for the same period last year, while the profit for the year was Operation amounted to 10 227 million NOK.
Net profit amounted to NOK 300 million, compared with NOK 691 million for the same period last year which is a new quarterly record for the company. Traffic growth (RPK) was 46%
Reduced costs
Norwegian also reduced its cost by 9% in the second quarter. Costs, including non-recurring items, were reduced despite higher oil prices, which significantly increased fuel costs. If fuel costs are excluded, the cost reduction is 19% in the second quarter.
– We have one of the most modern fleets in the world and we are lucky when the price of oil is so high. Norwegian to produce a result with reduced costs despite strong growth this quarter.
– In the future, growth will slow down and we will reap what we have sown, which will benefit customers, employees and shareholders, "says Norwegian CEO Bjørn Kjos
More Interested
When from the press conference, Kjos said that there were still several companies that showed interest for the airline, but that his main task was to drive the Norwegian in the best possible way. it's a sign that we're on the right track. We would not be interesting for other companies if we were not on the right track and our strategy is right, said Kjos.
Norwegian opens the first Scandinavian long-distance base of the company in October. The base is located in Copenhagen and approximately 80 pilots will be based there to serve the Scandinavian long-distance lines of the company.
– Our long-haul operation in Scandinavia has grown considerably, so it is only natural that we establish a base for pilots in Copenhagen. Director Helga Bollmann Leknes in Norwegian.
High degree of filling
In total, nearly 10 million passengers traveled with Norwegian in the second quarter, an increase of 16%.
Filling rate – the proportion of aircraft seats with passengers on flights – remained at a high level also in the second quarter, 86.8 percent this year compared with 87.7 year ago last, the company writes in a press release. the size of the aircraft was slightly reduced in the second quarter. It was 86.8% compared to 87.7% in the same quarter of last year. The punctuality of flights also decreased by 77 percent in the second quarter of this year.
The figures presented are far superior to the forecasts of analysts, according to TDN Direkt. According to Dagens Næringsliv, experts from five brokerages were expecting a pre-tax loss of 701 million Norwegian Kroner.
Norway performed better than expected at the opening of the Oslo Stock Exchange on Thursday morning. According to hegnar.no, the share has increased by 7.2 percent after opening.
(© NTB)
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