CEB, now Gartner Q4 FY2024 Earnings Call
With Xander Lao (President and Chief Commercial Officer), Mike Szücs (CEO), Rhobee Pilares (Manager and Head of Strategic Communications) and 1 more.
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1Prepared remarks4 speakers
Good day, everyone. We are thrilled to have you with us as we share our performance highlights, strategic progress, and vision for the future. We are happy to report strong fourth quarter and full year results, marked by continued network expansion, fleet growth, and increased capacity. Beyond our financial results and business updates, we will also provide early insight into key commercial and economic trends that will shape our outlook for 2025 and beyond. To kick things off, I will hand it over to Xander, who…
Thanks, Trina. The fourth quarter of 2024 showed remarkable growth, reflecting a strong demand for air travel. We carried 7 million passengers during the quarter, marking a 32% increase from the fourth quarter of 2023 and surpassing our seat capacity growth of 31%. This led to an improved seat load factor of 83.1%, up from 82.8% in the previous year. Domestically, we carried 5.3 million passengers, marking a 32% growth over the same period in 2023. Internationally, we saw a 30% increase with 1.7 million passengers…
Thank you, Xander. I am pleased to present Cebu Pacific's financial results for fourth quarter and full year 2024. The fourth quarter was Cebu Pacific's strongest for the year in terms of revenue, as we generated PHP 30.4 billion, 28% higher year-on-year. Revenue from passenger business grew 23% to PHP 20.2 billion, while ancillary revenues grew 36% to PHP 8.6 billion. Average fares softened by 6% to PHP 2,866, while ancillary yields improved by 2% to over PHP 1,047 per passenger. Cargo revenue grew 51%…
Thanks, Trina. Let me say everyone at Cebu Pacific is proud of what the company achieved in 2024. Turning various obstacles faced by the industry into strategic opportunities to embrace change and accelerate our growth, whilst much of the competition was unable. While our investments in fleet expansion, operational improvements, and the development of new routes have an impact on our 2024 margins, these efforts and investments are now beginning to pay off. We have seen noticeable improvements in our reliability…
Good afternoon, this is Rhobee Pilares from Cebu Pacific's Corporate Communications Department. Thank you for joining us this afternoon for CEB's fourth quarter and 2024 full-year investor briefing. Joining us this afternoon to help answer any questions you may have are Cebu Pacific's Chief Executive Officer, Mr. Michael Szücs, CEB's…