Atlas Air Worldwide Holdings Inc
Atlas Air Worldwide — Q1 2022 Earnings Presentation
13 slides from Atlas Air Worldwide's earnings presentation, May 5, 2022
Slide 1: Quarterly Review 1Q 2022
Quarterly Review 1Q 2022 JOHN W. DIETRICH President & CEO SPENCER SCHWARTZ Executive Vice President & CFO MAY 5, 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect Atlas Air Worldwide Holdings Inc.’s (“AAWW”) current views with respect to certain current and future events and financial performance
Slide 3: Key Takeaways
Key Takeaways SUSTAINING SHIFT IN DEMAND FOR DEDICATED AIRLIFT • Driving demand for air cargo today and in the future AIRFREIGHT IS VITAL TO THE GLOBAL SUPPLY CHAIN • Atlas’ aircraft and services provide flexibility, reliability and speed • Enabling customers to manage through logistical challenges
Slide 4: 1Q22 Highlights
1Q22 Highlights OFF TO A GREAT START IN 2022 • Record first-quarter revenue and adjusted earnings • Strong demand for our aircraft and services BENEFITED FROM • Higher yields • New and enhanced long-term customer contracts RESULTS REFLECTED • Increased pilot costs driven by new CBA, including premiu
Slide 5: Outlook
Outlook 2Q22 OUTLOOK 2022 OUTLOOK 2022 COMMENTARY / KEY ITEMS Revenue Revenue Strong airfreight environment and >$1.1 billion ~$4.6 billion demand for our assets and services Adj. EBITDA Adj. EBITDA Significant amount of our fleet is in ~$215 million ~$1.0 billion new or enhanced long-term commitmen
Slide 6: 1Q22 Summary
1Q22 Summary ADJUSTED NET INCOME* BLOCK HOURS REVENUE $88.8 million 82,626 $1.0B REPORTED NET INCOME $81.5 million ADJ. EBITDA* DIRECT CONTRIBUTION $202.8M $202.7M *See May 5, 2022 press release for Non-GAAP reconciliations. 6
Slide 7: 1Q21 vs. 1Q22 Segment Overview
1Q21 vs. 1Q22 Segment Overview AIRLINE OPERATIONS REVENUE DRY LEASING REVENUE TOTAL REVENUE* In $Millions In $Millions In $Millions $995.4 $1,037.2 $826.2 $861.3 $40.4 $46.2 1Q21 1Q22 1Q21 1Q22 1Q21 1Q22 AIRLINE OPERATIONS CONTRIBUTION DRY LEASING CONTRIBUTION TOTAL CONTRIBUTION In $Millions In $Mil
Slide 8: Net Debt and Net Leverage Ratio
Net Debt and Net Leverage Ratio NET DEBT* NET LEVERAGE RATIO* In $Millions $2,332.9 3.0x $2,149.1 $2,089.4 2.5x $2,019.3 $2,010.6 $1,895.7 2.1x 2.1x 2.0x 1.8x $1,710.8 $1,649.5 1.5x 1.5x 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Debt and finance lease payments o
Slide 9: Key Takeaways
Key Takeaways OUTSTANDING START TO 2022 STRONG OUTLOOK FOR REMAINDER OF THE YEAR RESILIENT AND PROVEN BUSINESS MODEL • Leader in global airfreight SUSTAINING SHIFT IN DEMAND FOR DEDICATED AIRLIFT • Demonstrating the value of airfreight to global supply chain VERY WELL POSITIONED FOR THE FUTURE • Exp
Slide 10: Appendix
MATLAS AIR WORLDWIDE Appendix
Slide 11: 2022 Maintenance Expense
2022 Maintenance Expense (In $Millions) $119 $120 Heavy Maintenance $48 $40 2022 Maintenance Expense Non-Heavy $13 Maintenance $6 Expected to be $65 $67 Similar to 2021 Line Maintenance 1QA 2QE Line maintenance expense increases commensurate with additional block hour flying Non-heavy maintenanc
Slide 12: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures (In $Millions) 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 FACE VALUE OF DEBT $ 2,606.4 $ 2,457.9 $ 2,399.0 $ 2,370.6 $ 2,456.4 $ 2,431.5 $ 2,349.1 $ 2,244.0 PLUS: PRESENT VALUE OF OPERATING LEASES 465.7 420.5 476.6 432.8 314.7 248.3 221.4 207.7 TOTAL DEBT $ 3,072.1 $
Slide 13: Thank You
Thank You MTLAS AIR WORLDWIDE
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