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Monday
Results: Ryanair.
In a year scarred by a roster fiasco and the subsequent push for greater union recognition, Ryanair nonetheless remains the airline that continues to deliver. At least for investors.
On Monday, the low-cost carrier will report full-year results expected to meet forecasts. In its note ahead of posting, Davy said the numbers should be in line with or at the upper end of guidance (anticipating net profit in the region of €1.42 billion).
Despite the challenges that arose last year, it “will deliver high single digit profits and double digit EPS”.
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Unit costs are guided to be down 2 per cent and ancillaries per passenger up 2 per cent. Yields are guided to fall by at least 3 per cent, it said. Net debt should be over €200 million with operating cash flow continuing to drive fleet investment.
And things continue to improve. Davy believes 2019 will deliver more record numbers. Its own estimate of 6 per cent growth to 138 million customers could be surpassed, it says.
Key issues for the coming year will include pilot and union talks, and an update on the continued operational uncertainty posed by Brexit.
Last month, traffic on the airline grew by 8.8 per cent year on year to 12.3 million, an increase on the 6.4 per cent rate of March.
Goodbody said it was “happy with our FY19 passenger forecast of 140 million [versus] company guidance of 138 million and our Q119 yield forecast of -1 per cent may come in a little bit weaker given the stronger capacity growth seen coming into the current quarter.”
Tuesday
Results: Clear Channel Outdoor, Cranswick, First Derivatives, Greencore, Guess, Hewlett Packard, Paragon Group, Shaftesbury, Topps Tiles, UDG Healthcare.
Indicators: Irish wholesale prices (Apr); UK public sector net borrowing (Apr), industrial trends orders (May).
Meetings: Marketing Acceleration Summit (Clontarf Castle, Dublin 3).
Wednesday
Results: Britvic, GameStop, Great Portland Estates, Marks & Spencer, Ralph Lauren, Target, Tiffany.
Indicators: Euro zone services, composite and manufacturing PMI Flash (May); UK PPI input and output (Apr), retail price index (Apr), inflation (Apr); German services, composite and manufacturing PMI Flash (May).
Meetings: Enterprise Excellence Ireland Conference (Croke Park Conference Centre, Dublin 3).
Thursday
Results: Gap, Hibernia Reit (interim), Medtronic.
Indicators: UK retail sales (Apr); German GDP (Q1), consumer confidence (Jun); US house price index (Mar), home sales (Apr).
Meetings: Small Firms' Association (SFA) annual conference (UCD, Belfield, Dublin 4); Amplify Digital Marketing Conference (Cork City Hall); AtlanTec Conference on AI and machine learning (NUI Galway).
On Thursday the Small Firms’ Association annual conference takes place at the UCD Science Centre. The half-day event expects about 300 entrepreneurs, owner-managers and policymakers to build some chemistry and exchange theories on the business environment.
A defining event in the sector’s calendar, it does give valuable insights into what is happening in Ireland, as economic growth is increasingly offset by challenges posed by technology and, of course, Brexit.
Organisers say a mix of keynote addresses and panel discussions will focus on how small businesses can stay competitive, find and retain talent and deal with various emerging regulatory change.
Among the speakers are Ireland's Assistant Data Protection Commissioner John Keyes and Peter Clinch, chair of the National Competitiveness Council.
“Technology and social media have already transformed how we work, communicate and do business,” the SFA said ahead of the conference.
"Digital futurist Colin Chapman will give us a glimpse into the future of tech and our stellar line-up of speakers will debate the future of work and how digital is changing our relationships with our customers."
Friday
Results: Foot Locker.
Indicators: UK GDP (Q1), finance mortgage approvals (Apr), business investment (Q1).
Meetings: Irish Small and Medium Enterprises (Isme) annual lunch (Croke Park Conference Centre, Dublin 3); "Cybergeddan" briefing by the International Cyber Threat Task Force (Spencer Hotel, IFSC, Dublin 1).