Tag Archives: Results

Channel Tunnel Group Getlink Group Profits Dip On Pandemic Travel Bans | Instant News



(Reuters) – The Channel Tunnel operator on Thursday announced a 41% drop in base profit, as government travel restrictions during the coronavirus pandemic halted traffic from Britain on last year in the European Union. Channel tunnel operator Getlink, formerly Eurotunnel, is seen during the presentation of the company’s 2018 annual results in Paris, France, February 21, 2019. REUTERS / Charles PlatiauGetlink, which operates the 50 rail tunnel kilometers that connect France to Folkestone in Kent, made a core profit of 328 million euros ($ 398 million), down 41%, following a 24% drop in sales. gave earnings outlook for 2021 but offered a modest dividend of five cents per share, which it expects from Getlink has been rocked by COVID-19 travel restrictions that have disrupted international traffic in 2020 and faces more than turmoil now that the UK Divorce Bill has entered into force. .For an interactive graphic, click here: tmsnrt.rs/2NVb2t1 “As soon as the travel restrictions are lifted, customers come back very, very quickly,” CEO Yann Leriche said in a call Wednesday evening. After British Prime Minister Boris Johnson presented a plan to lift restrictions on international travel from May 17, said Getlink booked a 200% increase in bookings from the previous day. He added that Getlink was working with the UK government and alongside airline and ferry operators to put measures in place that would allow a return to normal from late spring.Despite disruptions from COVID-19 and Brexit, the firm has improved its net cash flow by year-end and has been successful in reducing its net financial debt, aided by tight operations and spending, which she plans to continue this year. “We will reduce our operating expenses to what is strictly necessary for the operation of our services,” said Leriche. He added that Getlink has adapted its services to the existing mand and using the leave and short-time provisions in the UK and France, while maintaining jobs ($ 1 = 0.8236 euros) by Sarah Morland in Gdansk; Edited by Hugh Lawson.



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Afterpay Australia explores global records as first-half sales double | Instant News


(Reuters) – Afterpay is exploring additional overseas listings amid growing US investor interest, Australia’s buy-now-pay-later said on Thursday after reporting first-half sales more than doubled.

Fintech Australia and its global competitors such as Klarna, Affirm and Sweden’s Zip Co have seen explosive growth since the pandemic locked in large parts of the world and made more people turn to online shopping.

Afterpay shares have gained more than 1,500% since March, establishing itself as the 12th most valuable company in Australia.

Afterpay also said it raised A $ 1.25 billion ($ 995 million) in convertible banknotes in a complex deal to buy Matrix Partners stock from its US business – which accounts for 43% of its sales. The United States is also a key growth market for the industry where it struggles with fast-growing Klarna.

Klarna, who is reported to be tapping into more private funding, posted his full-year results on Thursday evening.

Afterpay’s legal losses more than doubled to A $ 79.2 million as the strong growth of its UK business pushed the unit’s valuation higher and increased the value of put options held by other companies. Zip also posted a much bigger half-year loss after buying New York counterpart Quadpay.

While Afterpay’s gross transaction loss fell to 0.7% – indicating fewer customers skipping payments – margins also fell slightly to 2.2% from six months ago.

Transactions made through Afterpay totaled A $ 9.8 billion in the six months to December 31, double the A $ 4.8 billion processed last year, supported by strong holiday spending.

Active subscribers jumped 1.9 million to 13.1 million in the three months to December.

($ 1 = 1.2547 Australian dollars)

Reporting by Nikhil Kurian Nainan in Bengaluru; Edited by Forward Samuel

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Australia Qantas pushes back international travel target as first-half revenue drops 75% | Instant News



SYDNEY (Reuters) – Qantas Airways Ltd said it had pushed back its target of a widespread resumption of international travel from Australia by four months until the end of October, when the country’s vaccination schedule is expected to end. finish.FILE PHOTO: A crew member walks. from a Qantas aircraft at a domestic terminal at Sydney Airport in Sydney, Australia, November 16, 2020. REUTERS / Loren Elliott The airline grounded its international fleet last March and a domestic recovery was hampered by the closure of national borders, leading to a 75% drop in revenue to A $ 2.33 billion ($ 1.9 billion) in the six months leading up to Dec.31, Qantas announced on Thursday that it had fallen to a Underlying loss before tax of A $ 1.03 billion in the first half, its most watched financial measure, compared to A $ 771. Its shares rose 5% early in the session to their highest level since December, with Jefferies analyst Anthony Moulder citing the airline’s strong cash flow and liquidity. Cutif Alan Joyce said he was in close consultation with the Australian government on the prospects for resuming international flights. “If things change, our dates will change too,” Joyce told reporters. “But with the vaccine rollout already underway, we’re on the right track and this October date seems reasonable and in some ways conservative.” Australia began vaccinating its citizens against COVID-19 on Sunday, having had just under 29,000 infections and 909 deaths since last March, fewer than most comparable countries. Qantas has previously put up international tickets for sale at from July 1, but postponed that to October 31, with the exception of flights to New Zealand. Joyce said Qantas expected international capacity to be only 40% of pre-COVID levels during the fiscal year 2022, and a full recovery was not expected until 2024, according to global estimates. Qantas has said it will require international travelers to be vaccinated to board flights. , where Qantas normally makes the bulk of its profits, the capacity has operated well below pre-pandemic levels due to the state border closure which it says will cost A $ 350 million to A $ 450 million. gs australian dollars before interest, tax depreciation and amortization in the second half: The airline plans to operate 80% of its usual domestic capacity in the fourth quarter ending June 30, compared to 60% in the third quarter. The Jetstar brand had positive cash flow in the first half of the fiscal year in the domestic market, said airline Qantas had $ 4.2 billion in cash as of Dec.31 to help it weather continued uncertainty in market conditions. market ($ 1 = A $ 1.2550) Reporting by Jamie Freed; Edited by David Gregorio and Stephen Coates.



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Australia Qantas pushes back international travel target as first-half revenue drops 75% | Instant News



SYDNEY (Reuters) – Qantas Airways Ltd said it had pushed back its target of a widespread resumption of international travel from Australia by four months until the end of October, when the country’s vaccination schedule is expected to end. finish.FILE PHOTO: A crew member walks. from a Qantas aircraft at a domestic terminal at Sydney Airport in Sydney, Australia, November 16, 2020. REUTERS / Loren Elliott The airline grounded its international fleet last March and a domestic recovery was hampered by the closure of national borders, leading to a 75% drop in revenue to A $ 2.33 billion ($ 1.9 billion) in the six months leading up to Dec.31, Qantas announced on Thursday that it had fallen to a Underlying loss before tax of A $ 1.03 billion in the first half, its most watched financial measure, compared to A $ 771. Its shares rose 5% early in the session to their highest level since December, with Jefferies analyst Anthony Moulder citing the airline’s strong cash flow and liquidity. Cutif Alan Joyce said he was in close consultation with the Australian government on the prospects for resuming international flights. “If things change, our dates will change too,” Joyce told reporters. “But with the vaccine rollout already underway, we’re on the right track and this October date seems reasonable and in some ways conservative.” Australia began vaccinating its citizens against COVID-19 on Sunday, having had just under 29,000 infections and 909 deaths since last March, fewer than most comparable countries. Qantas has previously put up international tickets for sale at from July 1, but postponed that to October 31, with the exception of flights to New Zealand. Joyce said Qantas expected international capacity to be only 40% of pre-COVID levels during the fiscal year 2022, and a full recovery was not expected until 2024, according to global estimates. Qantas has said it will require international travelers to be vaccinated to board flights. , where Qantas normally makes the bulk of its profits, the capacity has operated well below pre-pandemic levels due to the state border closure which it says will cost A $ 350 million to A $ 450 million. gs australian dollars before interest, tax depreciation and amortization in the second half: The airline plans to operate 80% of its usual domestic capacity in the fourth quarter ending June 30, compared to 60% in the third quarter. The Jetstar brand had positive cash flow in the first half of the fiscal year in the domestic market, said airline Qantas had $ 4.2 billion in cash as of Dec.31 to help it weather continued uncertainty in market conditions. market ($ 1 = A $ 1.2550) Reporting by Jamie Freed; Edited by David Gregorio and Stephen Coates.



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Qantas Australia posted a loss of $ 820 million in the first half, pushing back its international travel targets | Instant News


SYDNEY (Reuters) – Qantas Airways Ltd said on Thursday it does not expect a resumption of wide-ranging international travel from Australia until the end of October after posting an underlying A $ 1.03 billion ($ 820.40 million) pre-tax loss for the first half. .

FILE PHOTO: A crew member walks from a Qantas aircraft at the domestic terminal at Sydney Airport in Sydney, Australia, 16 November 2020. REUTERS / Loren Elliott

The pre-tax loss in the six months ended December 31, the airline’s most watched financial measure, compared to A $ 771 million a year earlier.

On a bottom-line level, Qantas lost A $ 1.47 billion from a $ 648 million gain the previous year at a time when many state borders remained closed, hampering a recovery in the domestic market.

“We are now planning international travel to resume at the end of October this year, in line with the date the Australian vaccine launch is effectively completed,” Chief Executive Alan Joyce said in a statement.

The airline has suspended its international fleet with the exception of government repatriation charters and cargo airlines. It has put international tickets on sale starting July, but has pushed it back, with the exception of New Zealand.

Australia on Sunday began vaccinating its citizens against COVID-19.

Qantas said it expects international travelers to be vaccinated to board its aircraft.

In the domestic market, where Qantas usually reaps the most of its profits, capacity has run well below pre-pandemic levels due to closure of state borders.

The airline expects to operate 80% of its usual domestic capacity in the fourth quarter ending June 30, up from 60% in the third quarter.

($ 1 = 1.2555 Australian dollars)

Reporting by Jamie Freed; Edited by David Gregorio

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