EVALUATION CONJOINTE DES OPERATIONS D AIDE BUDGETAIRE AU MALI
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CONTENTS
3 Key Statistics Scheduled passengers 79 3 m75 8 +5 Year-end Fleet 305 294 +4 Average staff 9,059 8,438 +7 Passengers per staff member (avg ) 8,753 8,983 -3 2013 2012 Change
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1
CONTENTS
2 Financial Highlights
4 58 Summary Operating and Financial Overview
1014 Corporate Governance Report
2728
30
32 Presentation of Financial and Certain Other Information
34 Detailed Index*
36 Key Information
42 Principle Risks and Uncertainties
58 Information on the Company
82 Operating and Financial Review
87 Critical Accounting Policies
102 Directors, Senior Management and Employees
111 Major Shareholders and Related Party Transactions
112 Financial Information
123 Additional Information
134 Quantitative and Qualitative Disclosures About Market Risk
139 Controls and Procedures
144 Consolidated Financial Statements
200 Company Financial Statements
206 Directors and Other Information
207 Appendix
*See Index on page 34 and 35 for detailed table of contents.Information on the Company is available online via the Internet at our website, www.ryanair.com.
Information on our website does not constitute part of this Annual Report. This Annual Report and our
20-F are available on our website.
2 (i)Year ended March 31, 2012 excludes . See reconciliation of profit to adjusted profit for the year on pages 8 and 9.Financial Highlights
Operating revenue (i) 4,884.0 4,324.9 +13%
Net profit after tax 569.3 560.4 +2%
Adjusted net profit after tax 569.3 502.6 +13%
Basic EPS (in euro cent) 39.45 38.03 +4%
Adjusted basic EPS (in euro cent) 39.45 34.10 +16% 2013M 2012
MChange
3Key Statistics
Scheduled passengers 79.3m 75.8m +5%
Year-end Fleet 305 294 +4%
Average staff 9,059 8,438 +7%
Passengers per staff member (avg.) 8,753 8,983 -3%2013 2012 Change
4 CDear Shareholders,
growth in ancillary revenues. During the year Ryanair delivered a number of significant milestones:We grew our traffic by 5% to 79.3m passengers.
We took delivery of 15 new aircraft for a year-end fleet of 305 Boeing 737- We opened 7 new bases and 217 new routes bringing our route/network operated to over 1,600. We improved our industry leading passenger service with better punctuality, fewer lost bags and less cancellations. 2November, 2012.
Fuel costs in fiscal 2013 as a proportion of our total operating costs have risen to 45%. We are 90% hedged for
fiscal 2014, at approximately USprice rises and high winter charges at certain airports will make it commercially sound to ground up to 60
aircraft next winter (80 aircraft last year) rather than incur losses operating these aircraft at lower winter yields.
Nevertheless, we still expect passenger volumes in fiscal 2014 to grow by approximately 3% to 82m passengers.
At a recent June 2013 EGM shareholders approved our new 175 aircraft order with Boeing. Net of
affic to grow by 39%to 110m by fiscal 2019. We see tremendous opportunity in Europe to increase passenger volumes as our
competitors merge/consolidate, cut short-haul capacity and in some cases exit the industry. This new Boeing
time locking in advantageous long term ownership costs in our fleet. bn to shareholders (subject to shareholder approvalat our AGM in September) via share buybacks and special dividends by the end of fiscal 2015. The
combination of a special dividend and buy backs (subject to shareholder approval) and previous
buybacks/specbn to shareholders since 2008 which is unprecedented in the airline industry.I would like to take this opportunity to thank Klaus Kirchberger for his contribution and commitment to Ryanair
as a director over the last eleven years. Klaus resigned from the board at the end of March 2013 and we wish
him much success in the future. I would also like to warmly welcome three new directors Louise Phelan, Julie
. Louise and Julie joined the board in December 2012 while Dick joined in July 2013. They will all stand for election at the AGM in September, 2013.We look forward to growing Ryanair to 110m passengers and 410 aircraft by fiscal 2019. The outstanding
people at Ryanair continue to work hard on behalf of shareholders to reduce our costs while at the same time
delivering the lowest fares in Europe for the benefit of our 82m passengers.Yours sincerely,
David Bonderman
Chairman
5Dear Shareholders,
-low cost carrier model (ULCC) infactor remained stable at 82% and average fare (which includes optional checked in bag fees) improved by 6%
s