Cebu Pacific reports sharp profit declines in 2Q and 1H2018, fuel costs increase 23%

    Cebu Pacific reported (09-Aug-2018) the following financial highlights:

    • Three months ended 30-Jun-2018:
      • Revenue: PHP19,574 million (USD372.8 million), +4.2% year-on-year;
        • Passenger: PHP14,627 million (USD278.6 million), +2.0%;
        • Cargo: PHP1374 million (USD26.2 million), +30.0%;
        • Ancillary: PHP3573 million (USD68.1 million), +5.3%;
      • Costs: PHP17,064 million (USD325.0 million), +16.1%;
      • Operating profit: PHP2511 million (USD47.8 million), -38.6%;
      • Net profit: PHP1872 million (USD35.7 million), -38.6%;
    • Six months ended 30-Jun-2018:
      • Revenue: PHP37,835 million (USD727.5 million), +6.1%;
        • Passenger: PHP28,303 million (USD544.2 million), +6.3%;
        • Cargo: PHP2653 million (USD51.0 million), +28.1%;
        • Ancillary: PHP6879 million (USD132.3 million), -1.2%;
          • Baggage fees: PHP3102 million (USD59.6 million), -6.9%;
      • Costs: PHP33,060 million (USD635.7 million), +14.0%;
        • Fuel: PHP12,337 million (USD237.2 million), +22.7%;
      • Operating profit: PHP4775 million (USD91.8 million), -28.2%;
      • Net profit: PHP3309 million (USD63.6 million), -23.6%;
      • Cost per ASK: PHP2.56 (USD 4.9 cents), +22.5%;
      • Total assets: PHP128,229 million (USD2466 million);
      • Cash and cash equivalents: PHP20,143 million (USD387.3 million);
      • Total liabilities: PHP87,861 million (USD1689 million). [more – original PR]

    *Based on the average conversion rate at PHP1 = USD0.019047 for 2Q2018
    *Based on the average conversion rate at PHP1 = USD0.019228 for 1H2018