Ryanair’s FY22 results slightly beat the consensus while the liquidity and debt positions remained comfortable. However, pricing pressure had been expected for Q1 23 and only modest FY profitability was guided, demonstrating management’s cautious view on the future market conditions. We will downgrade our FY22 estimates.
16 May 2022
Ryanair remains cautious by guiding only for “reasonable profitability”
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Ryanair remains cautious by guiding only for “reasonable profitability”
Ryanair’s FY22 results slightly beat the consensus while the liquidity and debt positions remained comfortable. However, pricing pressure had been expected for Q1 23 and only modest FY profitability was guided, demonstrating management’s cautious view on the future market conditions. We will downgrade our FY22 estimates.