Summary:
Record number of passengers at 73.1 million, up 6.6% year on year with record load factor at 91.6% (2015: 91.5%), reflecting easyJet's resilient business model and ability to drive demand, even in challenging markets
Capacity grew by 6.5% in the period to 80 million seats, as easyJet strengthened its leadership positions in selected markets
Total revenue of £4,669 million (a decline of 0.4%) and revenue per seat of £58.46 (a decline of 6.4%, and of 6.9% at constant currency1) reflecting the impact of external events
Total cost per seat improved by 2.0%, decreasing to £52.26 (a decrease of 4.6% at constant currency). Cost per seat excluding fuel increased by 2.6% to £38.31 and improved by 1.1% per seat at constant currency, slightly ahead of target, despite high levels of disruption.
Return on capital employed at 14.6% remains significantly above easyJet's cost of capital
easyJet's results demonstrate resilient underlying performance, delivered in spite of unprecedented external events which have impacted profit before tax by an estimated £150 million3 and net foreign exchange headwinds of £88 million. Profit before tax in the period was £495 million (2015: £686m)
Dividend declared of 53.8 pence per share (2015: 55.2 pence), in line with the Company's increased payout policy of 50% of profit after tax
Business model and strategy underpinned by sector leading balance sheet strength: easyJet ended the year with net cash of £213 million (2015: £434 million) and sector leading credit rating (Standard and Poors: BBB+, Moodys: Baa1)
easyJet implements its strategy of purposeful, profitable growth to secure leading positions at primary airports to drive returns over the long term
