FNNNF - Finnair Oyj (FNNNF) Q4 2023 Earnings Call Transcript
2024-02-14 20:09:06 ET
Finnair Oyj (FNNNF)
Q4 2023 Earnings Conference Call
February 14, 2024 6:00 AM ET
Company Participants
Erkka Salonen – Investor Relations
Jaakko Schildt – Interim Chief Executive Officer
Kristian Pullola – Chief Financial Officer
Conference Call Participants
Pasi Väisänen – Nordea
Jaakko Tyrväinen – SEB
Joonas Ilvonen – Evli
Achal Kumar – HSBC
Mateo Salcedo Lopez – ODDO BHF
Presentation
Erkka Salonen
Good day, ladies and gentlemen. I'm Erkka Salonen from Finnair IR, and it's my pleasure to welcome you all to this Finnair's Fourth Quarter and Full Year 2023 Earnings Call. I am here with me Finnair's Interim CEO, Mr. Jaakko Schildt; and he is joined by our CFO, Mr. Kristian Pullola for the Q&A session.
I will now turn this call over to you, Jaakko. Please go ahead.
Jaakko Schildt
Thank you, Erkka. Good afternoon from Helsinki, snowy Helsinki on my behalf to and happy Valentine's Day for everybody. It's the 14th of February today. Let's start with the quarter four. In the presentation traditionally, we touched the quarter four and also the full year 2023 development, and we have a lot of good news to share with you. And our headline for quarter four is it was really a solid end to a strong year. I mean, the market is robust. We saw a good development in the market and also our internal efforts with strategy execution, both on the revenue area and the cost area is really bringing the results.
Quarter four, I mean, going back to quarter four, I mean, we had a good performance, despite the fact that we were meeting challenging winter conditions in our operations. We had snowstorms, couple of days of snowstorms, and also we had a really cold weathers for a couple of days. However, we were able to deal it with in a very appropriate way, on-time performance, landing to the 75% and the customer satisfaction, NPS at 32%. Looking at the revenue for quarter four, I mean, the revenue increased 5.8% and a comparable EBIT landed to €23 million, net results €60 million and I think the highlight for the quarter four is really that this was a positive fifth consecutive quarter. And I think it would be fair to say that this company, we made it, we survived from the pandemic and the double crisis and the evidence is actually the fifth consecutive quarter being positive.
Revenues stayed on an elevated level, 20%, passengers increased, and I think it really well describes the excellence of this result when I look at the ASK selling capacity. We did all this with the 17% less capacity compared to 2019. It's a very good result. Load factors we saw improving in Asia and North Atlantic and Middle Eastern traffic areas. Load factor, total load factor landing to 73%. We will come back to the load factor issue a little later when we talk about the capacities and so on....
Finnair Oyj (FNNNF) Q4 2023 Earnings Call Transcript