Eadwig
05 Apr 2017
Re: Numbers Our Haven,Wizz have been increasing their load factor ever since they went public, something I'm all too well aware of as someone who flies maybe 10 times a year with them. Last year it was reported: "During the year it carried 20.0m passengers, from 16.5m, and improved its load factor to 88.2%, from 86.7%."The latest figures for March on a rolling basis show a load factor of 90.1%. These figures are important because 31 March is the end of their financial year, thus load factor has improved to 90.1% for FY 2017 from 88.2%. I mentioned that I believed this has further to go yet, because Ryanair achieve a load factor closer to 95%. Easyjet are around 92% for their last 12 months. WiZZ reported From last year WiZz have another 110 A321neo on order, and are looking to double their fleet size by 2024. A321s carry an additional 50 passengers each (230 total) and burn less fuel.Some of these will be additions, others will replace less efficient A320s (180 passengers), but they will also be able to juggle the fleet to to gain more capacity where required, without actually adding flights.Last year they had just under 20 million passengers, FY2017 should see them reporting 23.75m, an increase of about 19% (seat capacity grown 16.5%).So the growth all looks to be going well, which is important as there is no dividend. It'll be down to the bottom line, ultimately though, for the share price. Profits will be up, its all about by how much. We shall have to wait and see.Current consensus analyst estimates/expectations are for £1.56p EPS for FY2017 with 10.5% growth in revenues. (Average price target of @2010p.)
Our Haven
04 Apr 2017
Re: Numbers Thanks Eadwig for those thoughts. I only bought in on the back of the profits warning and looking closely as to selling before May's results. These numbers however encourage me to hold. I have a good holding in Dart which have seen me well as a long term holder of their stock and I am hoping Wizz can prove to be another such stock. If I hold and they do drop I will be looking to buy.
Eadwig
04 Apr 2017
Re: Numbers They do all look good, all 'like-for-like' improvements as well as the additional capacity through extra planes and routes providing additional revenues.However, they were looking good approaching the profit warning too, so we'll have to see. I wish I'd sold out at around 1710p (was looking for 1725p which proved to be too much) because even if the profits are within the reduced range given in the warning, I bet the price will be hit again in these markets.Plus, I could have re-bought already @1620p, which would have buffered any holding against such a drop in terms of my book cost. I may still yet get a chance as results aren't out until Thursday, 25 May 2017.I'm travelling with Wizz on Good Friday and then again on May Day bank holiday Monday. Flights looked well booked already despite my booking further in advance than normal. Prices over Easter (not Good Friday) have a tremendous premium on them. Its a big holiday in many Eastern European countries in terms of families gathering together, almost as important as Christmas.They've altered the web site yet again with three booking package choices. They're always tweaking their business model. Presumably its working because the Revenue Passenger Kilometre is well up on last March (23%) and well up on the percentage increase in Available Seat Kilometres (17.3%).The rolling figures, year to date, show the problems in the profit warning, perhaps, because that gap isn't so big - 22.2% to 19.7%I must confess, I'm not entirely sure of the difference between some of the airline KPIs, or at least why they are so important. surely the Revenue *Per* Passenger Kilometre would be of most use.Anyway, as WIZZ take delivery of more A321s all these figures should increase, weather permitting, and the load factor around 90% should be able to be increased further also.If there is a drop on results day, I'll definitely be buying more, I don't think WIZZ get the credit that other low cost airlines get and I'm sure they have a long way to grow yet.
Our Haven
04 Apr 2017
Numbers The load and passenger numbers look good given their earlier warnings. Given this the volume activity looks disappointing but on the rise a little.
Rusty Jock
14 Mar 2017
Re: 300 or 300,000 ? its 300 thousand , but does not state how many shares he still hold
Tenobas
14 Mar 2017
300 or 300,000 ? Did Jozsef Varadisell 300 or 300,000 shares?It says 300.000but is that a European thousands dot or a decimal place?
Rusty Jock
02 Feb 2017
Re: Back In @1580p I am also back in at 1548p taking a tentative new position .I have successfully traded in and out of WIZZ since its listing so hoping to do so again .But right now it is really just about trying to avoid the falling knife .I dont know where this is likely to bottom out this time around , so I have taken a smallish entry stake and will add to it on any further weakness .
Eadwig
02 Feb 2017
Back In @1580p 2-2-17 JP Morgan Cazenove today reaffirms its overweight investment rating on Wizz Air Holdings Plc (LON:WIZZ) and cut its price target to 1975p (from 2150p).Drop seem to be very overdone for what was a fairly minor profit warning - especially when measured against the other airlines. Still seems like a good play on growth to me at these levels.
Eadwig
10 Nov 2016
Re: Sentiment Change I agree WIZZ is fantastically positioned. I sold this morning for @1677p though. I have a feeling I will get back in fairly soon around @1550p. Markets seem to be over-doing everything they like at the moment.
Scooby Doo It
09 Nov 2016
Sentiment Change The Airline sector has been battered this last year are we starting to see the green shoots of a recovery, RYA, EZJ, WIZZ all recovering.Certainly hope so, WIZZ fantastically positioned.
Eadwig
09 Nov 2016
Re: Brexit Means ... Glad this has been cleared up - and seemingly quite easily. I've since seen the same restriction on other stocks, I can't imagine why it should be there in the first place:" 5. EEA ownershipFurther to the announcement made by the Company on 2 September 2016, the share register of the Company as at 25 October 2016 shows that the ownership of the Company's ordinary shares of £0.0001 each ("Ordinary Shares"
by Non-Qualifying Nationals has now fallen below 49 per cent. which is the maximum permitted level of Ordinary Share ownership by Non-Qualifying Nationals set by the Company's Board of Directors ("the Permitted Maximum". Accordingly, the Company's Board of Directors has resolved to remove the restrictions outlined in the announcement of 2 September 2016. As a result, Non-Qualifying Nationals are no longer effectively barred from purchasing Ordinary Shares."So no potentially forced sale of shares for UK residents holding WIZZ on Brexit any more.
Eadwig
09 Nov 2016
H1 profit +37.5% Shame they announced today when many will overlook this report ...StockMarketWire | Wed, 9th November 2016 - 07:51Wizz Air Holdings has posted a record H1 profit of €262.5m, up 37.5% from €190.9m. Revenue was €921.2m, up 10.1% from €836.4m. During the half it carried 12.5m passengers, up 17.4% from 10.65m.It also reiterated the guidance provided to the market in its trading update on 20 July 2016."With the continued expansion of its network, Wizz Air estimates that it will now grow capacity in terms of ASKs by around 18% - 20% in the 2017 financial year, split approximately 20% in H1 and between 18% - 20% in the second half of the financial year," Wizz said."As previously indicated, lower fuel prices are feeding through to lower airfares and management anticipates this downward trend to persist well into 2017."Nonetheless the strong H1 financial performance against challenging market conditions, combined with solid bookings for the third quarter, are encouraging and the Company expects to report an underlying net profit for the full year (excluding exceptional items) in the range of between €245 million to €255 million."
Eadwig
26 Aug 2016
Re: Brexit Means ... Scooby, "stake building going on from an unwanted suitor."Possibly, but the fact is they also state that they are at the 49%-51% limits right now. Plus it is only fair to give us warning that they have that clause in their articles. It isn't in Wizz's power to ensure the EU classes us one way or another ... and articles of association can be changed, but it isn't easy because it isn't meant to be. I thought the downward pressure on the share price was going to continue on them today as well after they opened down, but looking a lot more buoyant now. I can't understand why they would have such a clause in the first place and am a little worried it might be pretty standard and could be lurking in the articles of other European newcomers to the London market. RyanAir? I'm not even sure if it is just something to do with airlines or not, its a bit opaque the last part of the definition about third party 'operators or not' as pertaining to " Article 4(f) of the Air Services Regulation" Countries used to protect their 'flag carriers' but Wizz aren't and never were.I applaud Wizz for actually being aware of it and letting us, and not least the politicians, know in what is hopefully plenty of time. At least the recent decline appears to have arrested itself for a while. I confess when I was a company secretary I couldn't have quoted a single paragraph from our articles if asked. You'd expect a PLC to be a lot more on top of things - but it wouldn't surprise if some weren't, would it?Thanks for the complements on the average. I meant to include this chart when I posted last night to show that it had been relatively easy to do, despite mistiming my first purchase on the day as I posted about below. The @1470p on 21st July, was an average of two tranches the lower priced being @1430p, the upper approx @1527p late on the previous day. You can see on the chart why I couldn't let that nasty drop go next day without buying again to average down.I then managed to catch approx @1564p on a limit sell order that executed Aug 8th. I sold more than half the holding and that put my single tranche (about 7/8ths of a tranche now) average down to the @1395p. I say 'managed to catch' we're almost back to that price again as I type, @1556pIts not a bad example of trading around a position, if I say so myself. I may do more of it yet, depends how the price keeps moving, after all those months of a steady 'take off' (sorry!) since the IPO. I never really got the chance to get in on a pull back. I suspect things aren't going to be so steady with the WIZZ price going forward, due to continued Brexit uncertainty.
Scooby Doo It
26 Aug 2016
Re: Brexit Means ... We're not out yet and it will be another 30 months before we are IMO, this is too early to be a warning for the Brexit vote, they must have some stake building going on from an unwanted suitor.Shareholder ShareholdingIndigo Hungary LP 8,245,590 14.9%FMR LLC 5,673,069 9.97%Old Mutual Plc 4,837,683 8.5%Indigo Maple Hill LP 2,495,043 4.35%PAR Capital Management Inc. 2,470,555 4.34% Váradi, J.J. 2,320,500 4.08%AGTA Invest Co. Ltd 1,962,208 3.45%As at 23 May 2016, being the latest practicable date before the approval of the annual report and accounts, the positions were the same as listed above for 31 March 2016Plus ....conditions may be amended, varied, supplemented or replaced from time to time, or as provided for in any agreement between the EU and any third country I don't think they will exclude one of the most important financial locations in the world (UK) from the share register.I think you took profits a little early but Profit is still profit so well done on that and a great average, I'm late to the party but the fundamentals look excellen
Eadwig
25 Aug 2016
Brexit Means ... ,,,, apparently possibly being forced to sell your Wizz Air shares if you are a UK national with just 21 days notice and to have them forcibly sold if you don't comply.I don't like to think what that would do to the price if all those shares held by private investors are forced on to the market over a 3 week period. I don't think it includes institutions, but who knows? I hadn't even guessed at this as a consequence of Brexit ... being a recent buyer I never looked at the IPO prospectus either.From today's RNS (followed by a 2% price drop - although a bad day on the markets generally anyway)"The share register of Wizz Air Holdings Plc shows that as at 8 August 2016 the ownership of Ordinary Shares in the Company by Qualifying Nationals is c.51 per cent. Shareholders and potential investors are reminded that the Company's Board of Directors has set a maximum permitted level of Ordinary Share ownership by Non-Qualifying Nationals at 49 per cent (the "Permitted Maximum", as stated in the Company's Initial Public Offering prospectus dated 25 February 2015""the Company's articles of association enable the Company's Board of Directors to take action to ensure that the amount of Ordinary Shares held by Non-Qualifying Nationals does not reach 50 per cent or more ... the directors may treat Ordinary Shares that gave rise to the need to take action and/or that are in excess of the Permitted Maximum as "Restricted Shares" and may deprive holders of Restricted Shares of the rights to attend, vote at, and speak at general meetings and/or require such holders to dispose of their Restricted Shares to a Qualifying National within 21 days. The directors are also given the power to transfer such Restricted Shares themselves if a holder fails to comply."- a "Non-Qualifying National" includes any person who is not a Qualifying National in accordance with the definition below- a "Qualifying National" includes: (i) EEA Nationals, (ii) nationals of Switzerland and (iii) in respect of any undertaking, an undertaking which satisfies the conditions as to nationality of ownership and control of undertakings granted an operating licence contained in Article 4(f) of the Air Services Regulation, as such conditions may be amended, varied, supplemented or replaced from time to time, or as provided for in any agreement between the EU and any third country (whether or not such undertaking is itself granted an operating licence).F.F.S.! I took profits on one of my two tranches, and offset them against the book value of my other tranche to give a book value average of @1395p. I was very happy going forward holding at that price.Looks like it might be time to think again ... if all UK nationals become "None Qualifying" its going to tip the scales massively, given they were already up against the limits 2 weeks ago!
