Aegean Airlines SA · ATHEX:AEGN
Aegean Airlines SA — Investor Presentation (October 2008)
26 slides from Aegean Airlines SA's investor presentation, October 2008
Slide 1: Aegean Airlines Company Presentation
Aegean Airlines Company Presentation October 2008
Slide 2: Agenda
Agenda Aegean Airlines at a glance Investment highlights Appendix 2
Slide 3: Fastest growing Greek carrier
Fastest growing Greek carrier 9 years ago Today 4 Started operations as a full service carrier 4 40 routes to 29 destinations in Greece and abroad serving 10 domestic destinations 4 5.2 m passengers in 2007 (5.8 – 5.9 m expected for 4 Carrying 300k passengers in 1st year of 2008) operations 4 Fleet
Slide 4: Investment highlights
Investment highlights 4 Network coverage: Well established in domestic market / expanding international network 4 Competitive Environment: Leading domestic share – Market share gains in the majority of international routes 4 Focus on Quality - Fleet renewal 4 Operating / financial update: Passenger
Slide 5: Our network
Our network Domestic International KAVALA ALEXANDROUPOLIS THESSALONIKI IOANNINA LIMNOS KERKYRA MYTILINI KEFALONIA CHIOS SAMOS ATHENS MYKONOS KOS SANTORINI RHODES CHANIA HERAKLION Opened in 2008 Opened in 2008 5
Slide 6: Competitive position - International Routes (y-t-d)
Competitive position - International Routes (y-t-d) AGEAN market rank # Operators 4 2008 rising market share in the Routes Number 1 Number 2 1 Athens-Bucharest 9 3 majority of routes 2 Athens-Cairo 3 4 #1 position in Balkan routes 3 Athens-Frankfurt 9 3 4 #1 position in intl routes out of 4 Athens-L
Slide 7: Market share by Pax
Competitive position Performance on our 3 main bases: 4 3-4 percentage points market share gain in Athens in 2008 4 #1 carrier in Thessaloniki 4 #1 carrier in Heraklion Athens Airport Survey Aegean at Athens International Airport Favorite airline for Greek residents Number 2 carrier out of 65 carrie
Slide 8: International network - Winter 2008
International network - Winter 2008 4 With latest additions we are covering 10 out of 16 most popular international destinations out of Athens Top 20 International Destinations out of Athens Aegean International Routes 1 London 1 Athens-Bucharest 2 Larnaca Winter 2008 3 Paris 2 Athens-Cairo 3 Athens
Slide 9: International Network Strategy
International Network Strategy Potential new destinations 4 We plan to continue our Amsterdam international network expansion to Barcelona better cover the needs of our Beirut customers Belgrade Berlin 4 Target W.European & regional markets Brussels 4 Expansion criteria/priorities Budapest Copenhage
Slide 10: Focus on quality services
Focus on quality services % of web bookings 30% 20% 4 Quality product offering 9% 4 First to introduce Business Class in 2005 2006 2007 domestic market New website design & booking engine 4 On time performance 4 4 4 Self check in kiosks 4 www.aegeanair.com more than 20k visits per day 10
Slide 11: Fleet renewal
Fleet renewal 12.0 Average fleet age 4 Delivery of 27 new aircraft Airbus A320/321 over the 2007-2010 period 8.0 Years 10.4 4 Maintenance and fuel efficiency benefits 10.0 in full by beginning of 2010 4.0 8.0 4.5 3.0 4 Image benefits / reliability / higher avg capacity per A/C 0.0 2006 2007 2008E 20
Slide 12: Operating update
Operating update 4 Total passengers served reached 2.6m in H1: 2008, +13% above 2007 (+24% international, +8% domestic y-o-y growth). 4 Scheduled services load factor at 67%, 0.5 percentage point higher vs prior year with 7% larger average capacity per aircraft flown 4 Passenger growth trends mainta
Slide 13: Financial update
Financial update 4 Efficient revenue management, gradual maturity of routes opened in previous years and fuel surcharges drive unit revenues higher 4 Fuel impact largely offsetting achieved revenue improvements 4 USD and fuel hedges net negative impact of €9m versus negative €1.7m in 2007 4 Cash and
Slide 14: Closing remarks
Closing remarks 0ur challenges 4 Fuel costs 4 European economic slowdown 4 Privatization of OA 4 Fleet transition costs 4 International routes expansion risks Our strengths / opportunities 4 Strengthening of AEGEAN’s competitive positioning y-t-d – Capacity ‘discipline’ in most of the routes flown 4
Slide 15: Appendix
Appendix Shareholders structure Our network Lufthansa partnership Financial Statements 15
Slide 16: Shareholders structure
Shareholders structure Free Float 23.6% Vassilakis Group 35.7% Piraeus Bank 4.7% Osiris 4.7% D. Ioannou 6.1% Cantel Laskarides Group Participations 19.0% 6.2% 16
Slide 17: Our network
Our network Domestic Routes International Routes 1 Athens-Alexandroupolis 13 Athens-Rhodes 1 Athens-Bucharest 2 Athens-Chania 14 Athens-Samos 2 Athens-Cairo 3 Athens-Chios 15 Athens-Santorini 3 Athens-Frankfurt 4 Athens-Corfu 16 Athens-Thessaloniki 4 Athens-Larnaca 5 Athens-Heraklion 17 Thessaloniki
Slide 18: Lufthansa's regional partner
Lufthansa’s regional partner Hamburg Amsterdam 4 Cooperation since 2005 Hannover Brussels Berlin Düsseldorf 4 Link generates additional passenger Frankfurt traffic from/to Lufthansa’s network, Stuttgart especially business traffic Munich 4 Increased brand awareness in Germany 4 Linked loyalty progra
Slide 19: Profit & Loss FY 2007
Profit & Loss FY 2007 amounts in m euros, % y-o-y change 2006 2007 y-o-y % Scheduled Services 302.4 373.6 24% Charter 47.9 46.1 -4% Other (cargo, service ch., ex.aviation) 18.8 20.2 7% Airport charges 31.9 42.8 34% Sales 401.1 482.7 20% Other operating income 1.1 2.3 106% Employee benefits (54.7) (6
Slide 20: Balance sheet FY 2007
Balance sheet FY 2007 amounts in m euros 31/12/2006 31/12/2007 ASSETS Intangible assets 0.3 0.3 Tangible assets 26.5 27.4 Down payments for tangible assets acquisition 32.1 77.8 Deferred tax assets 9.5 12.9 Other long term assets 3.4 5.9 Total fixed assets 71.8 124.3 Current assets Inventories 5.9 7
Slide 21: Cash Flow FY 2007
Cash Flow FY 2007 amounts in m euros 31/12/2006 31/12/2007 Cash flows from operating activities Profit of the period 26.7 35.8 Adjustments for: Taxes 9.8 8.8 Depreciation of fixed assets 6.2 4.1 Results from sale of fixed assets (0.4) 0.2 Profits from sale of subsidiaries (0.4) (0.0) Losses from sal
Slide 22: Profit & Loss Interim 2008
Profit & Loss Interim 2008 amounts in m euros, % y-o-y change 2007 2008 2007 2008 2007 2008 Q1 Q1 Q2 Q2 % 1H 1H % Scheduled Services 67.1 81.8 22% 96.1 123.7 29% 163.2 205.5 26% Charter 2.2 3.4 58% 15.7 20.2 29% 17.9 23.6 32% Other (cargo, service ch., ex.aviation) 4.4 4.4 2% 5.1 5.8 13% 9.5 10.2 8%
Slide 23: Balance Sheet Interim 2008
Balance Sheet Interim 2008 amounts in m euros 31/12/2007 31/06/2008 ASSETS Intangible assets 0.3 0.5 Tangible assets 27.4 78.4 Down payments for tangible assets acquisition 77.8 72.3 Deferred tax assets 12.9 18.2 Other long term assets 5.9 8.2 Total fixed assets 124.3 177.7 Current assets Inventorie
Slide 24: Cash Flow Interim 2008
Cash Flow Interim 2008 amounts in m euros 30/6/2007 30/6/2008 Cash flows from operating activities Profit of the period 8.0 7.7 Adjustments for: Depreciation of fixed assets 2.0 2.7 Results from sale of fixed assets 0.2 0.0 Profits from sale of subsidiaries (0.0) - Interest and other financial incom
Slide 25: 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
Slide 26: Thank you
Thank you For further information on AEGEAN please visit our website at www.aegeanair.com or contact our Investor Relations Manager Stella Dimaraki [email protected] +30 210 6261972 26
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