Aegean Airlines SA · ATHEX:AEGN
Aegean Airlines SA — 9M 2007 Earnings Presentation
14 slides from Aegean Airlines SA's earnings presentation, Nov 20, 2007
Slide 1: Aegean Airlines Nine Month 2007 Results
Aegean Airlines Nine Month 2007 Results Analysts Conference Call November 20, 2007
Slide 2: Agenda
Agenda 4 Key highlights for 9M07 4 Our network status – domestic/international 4 Our fleet 4 Our commercial initiatives 4 Financials for 9M07 / 3Q07 4 Key performance indicators 4 Other issues – Closing remarks 2
Slide 3: Nine Month 2007 results: Key highlights
Nine Month 2007 results: Key highlights 4 Turnover rose 20% to €370.5m 4 Net profit for the period increased 45% to €33.4m 4 Total passengers welcomed on board reached 4.1 million (+19% y-o-y) 4 CASK fell by 7% -Yield decreased by 4% 4 Distribution and scale efficiencies contribute to profitability
Slide 4: Domestic Network Development
Domestic Network Development Kavala Alexandroúpolis 4 Domestic Passengers up 12% in 9- Thessaloniki month 2007 to 2.6 million Ioannina 4 Healthy overall AIA growth: 10% for Kerkyra the domestic market Mytilini Chios Athens 4 Market share gains Samos Mykonos Kos 4 Demand Stimulation Santorini Rhodes
Slide 5: International Network Development
International Network Development 4 International pax up 34% to 1.5 million Dusseldorf Frankfurt 4 Healthy overall AIA growth: +10% for Stuttgart Munich international market Milan 4 Market share gains in majority of routes Bucharest Sofia Rome 4 Very good evolution of German routes Thessaloniki from
Slide 6: Our fleet
Our fleet .… as of September 2007: 4 3 new Airbus A-320 delivered in Q1 2007 – Very good customer reception A320 introduction opportunity: 4 15 Boeing 737-400/300 4 Increased customer appeal 4 6 AVRO RJ-100 aircraft (seat capacity up 4 Cost efficiencies to 112 from 100) 4 Business Class potential 4
Slide 7: Commercial / Marketing initiatives
Commercial / Marketing initiatives 4 Active marketing campaign 4 Transparency of communication with All Inclusive Fare Policy 4 New internet site soon on air 4 Recognition of our strive for quality by winning new ERA award for sustained excellence (palme d’or) 7
Slide 8: Nine Month 2007 P&L highlights
Nine Month 2007 P&L highlights 9-Month 9-Month 2007 vs Euro (million) 2006 2007 2006 Revenue 307.6 370.5 20% EBITDAR 56.5 73.1 29% EBITDAR margin 18.4% 19.7% 1.4pp EBIT 34.5 42.8 24% EBT 30.7 41.7 36% Net income 23.0 33.4 45% Net income margin 7.5% 9.0% 1.5pp 8
Slide 9: Net margin for Q3 among the top in the sector
Net margin for Q3 among the top in the sector 3-Months 3-Months 2007 vs Euro (million) 2006 2007 2006 Revenue 135.7 161.5 19% EBITDAR 36.4 44.0 21% EBITDAR margin 26.9% 27.2% 0.4pp EBIT 28.7 32.3 13% EBT 29.9 33.8 13% Net income 22.2 27.0 22% Net income margin 16.3% 16.7% 0.4pp 9
Slide 10: Key Performance Indicators
Key Performance Indicators Schedule Services RPK/ASK 4 ASK growth driven by longer stage +36% length, fleet expansion and more 70.3% seats per aircraft 72.8% +32% 4 Load factor negatively affected by new route openings, especially 9M06 9M07 seasonal ASK RPK Schedule Services PAX/AVS 4 Pax / flight c
Slide 11: Key Performance Indicators
Key Performance Indicators CASK (€ cents) 4 Yield pressure in Western European routes 8.9 -7% 8.3 4 CASK 7% lower - on distribution efficiencies and scale economies - outpaces yield reduction 9M06 9M07 Yield (€ cents) RASK (€ cents) -4% 9.9 -5% 13.7 13.2 9.4 9M06 9M07 9M06 9M07 11
Slide 12: Balance sheet key highlights
Balance sheet key highlights Euro (million) Dec-06 Sept-07 Total fixed assets 71.8 116.5 Cash and cash equivalents 24.4 166.1 Other current assets 70.6 79.6 Net cash €111m Total 166.8 362.3 Total equity 16.5 171.2 Debt 56.7 54.8 Liabilities 93.6 136.4 Total 166.8 362.3 12
Slide 13: Closing remarks
Closing remarks 4 Fuel costs account for 19% of revenue 4 Oil prices hitting record highs in Q4 4 Weak US dollar offsetting part of the increase 4 Fuel surcharges raised as of October 1 4 No fuel hedging for 2008 4 Importance of owning an energy efficient fleet 4 New destinations to be announced wit
Slide 14: Forward Looking Statements
Forward Looking Statements Except for historical information, the statements made or information contained in this presentation are forward-looking in nature and, as such, are subject to certain risks and uncertainties, many of which are beyond the Company’s control, which could cause the actual res