PT Garuda Indonesia (Persero) Tbk Class B · IDX:GIAA
PT Garuda Indonesia (Persero) Tbk Class B — Q3 2012 Earnings Presentation
34 slides from PT Garuda Indonesia (Persero) Tbk Class B's earnings presentation, Oct 25, 2012
Slide 1: Analyst Meeting & Presentation 3Q 2012 Result Announcement
Analyst Meeting & Presentation 3Q – 2012 Result Announcement Jakarta, 25 October 2012 0 0
Slide 2: Shareholder List as of 30 September 2012
Shareholder List as of 30 September 2012 Shareholder List as of 30 September 2012 Share Performance Price (30Sept12, IDR) : 620 Number of Shares % Market cap (IDR. tn) : 14,04 Domestic Number of share : 22,640,996,000 Government of Indonesia 15,653,128,000 69.14% Free Float (%) : 31.86 Retail 1,243,
Slide 3: Contents
Contents 1. 9M – 2012 Highlight 2. Market & Competition 3. 9M – 2012 : Operating Result 4. 9M – 2012 : Financial Result 5. Subsidiaries Highlight 2
Slide 4: 9M – 2012 Highlight
9M – 2012 Highlight Emirsyah Satar , CEO 3
Slide 5: 9M-2012 Highlight
9M-2012 Highlight 9M 2012 Indicator ∆% YoY Achievement 1 Passenger Carried 20.2 14,89 million 2 Cargo Uplifted 18.7 201,070 ton 3 Passenger Yield 0.6 U$c 9.55 4 Total Revenue 14.4 USD 2.39 billion 5 Passenger Revenue 11.70 USD 2.13 billion 6 Operating Income 140.4 USD 92.75 million 7 Income for the
Slide 6: The Market & Competition
The Market & Competition 5
Slide 7: Competition on routes which GA flown – Per July 2012
Competition on routes which GA flown – Per July 2012 GA Domestic traffic is growth by 14.9% YoY GA International traffic is growth by 17.9% In million passenger In million passenger 7.0 12.9% 6.2 13.2% 27.3 17.9% 2,0 24.1 1,8 7,6 6,6 14.9% 5,8 6,3 19,7 11.3% 17,5 12.6% Jan - Jul 2011 Jan - Jul 2012
Slide 8: Routes Changes 3Q – 2012
Routes Changes 3Q – 2012 Routes Freq / Week Route Start Ops changes Dom Add freq 14x to 21x Cengkareng – DJB 15 Jul 2012 28x to 35x Cengkareng – Padang 25 Aug 2012 98x to 105x Cengkareng – Denpasar 26 Aug 2012 63x to 70x Cengkareng – Jogyakarta 3 Sept 2012 56x to 63x Cengkareng – Balikpapan 24 Sept
Slide 9: 9M – 2012 : Operating Result
9M – 2012 : Operating Result 8
Slide 10: Consistent Operational Improvement
Consistent Operational Improvement Passenger carried increased (in mio) Seat Load Factor improved + 36.2% + 20.2% + 3.5 bp + 0.7 bp 17,07 14,89 75,72% 75,86% 75,16% 12,53 12,38 71,70% 2010 2011 9M-2011 9M-2012 2010 2011 9M-2011 9M-2012 Higher aircraft utilization Flight frequency increased +
Slide 11: Also Sustainable Quarterly Performance
Also Sustainable Quarterly Performance All figures included Garuda Indonesia and Citilink ASK RPK 10 9,2 9,0 8 7,1 7,1 8,6 8,3 8,4 8,4 6,6 7,4 6,2 6,2 6,4 8 6,6 7,0 6,9 5,3 5,3 6 5,1 5,2 4,5 6 3,5 4 4 2 2 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2010 2011 2012 2010 2011 2012 Frequencies Passenger Carried
Slide 12: Operating Indicators – 9M 2012 (Garuda Indonesia)
Operating Indicators – 9M 2012 (Garuda Indonesia) 9M-2011 9M-2012 ∆ % YoY Aircraft Utilization (Hours) 10:42 10:47 0:05 Frequencies 85,418 94,923 11.1 Operational On Time Performance (%) 87.61 84.50 -3.5 ASK (’000) 22,825,121 24,784,347 8.6 Average Fuel Price (USD/L) 0.90 0.91 1.1 Passenger Carried
Slide 13: Operating Indicators 9M 2012 – GA by sector
Operating Indicators 9M 2012 – GA by sector 9M-2011 9M-2012 ∆ % YoY Passenger Carried 8,868,014 10,305,728 16.2 ASK (‘000) 9,800,014 10,982,928 12.1 RPK (‘000) 7,658,795 8,895,757 16.2 DOM Seat Load Factor (%) 78.15 81.00 3.6 Passenger Yield (US¢) 11.63 11.35 -2.4 CASK (US¢) 8.93 8.85 -0.9 CASK excl
Slide 14: Financial & Operating Indicators 9M 2012 (Citilink)
Financial & Operating Indicators 9M 2012 (Citilink) 9M-2011 9M-2012 ∆ % YoY Number of Aircraft 6 15 150.0 Operational Frequencies 9,481 16,328 72.2 ASK (‘000) 1,226,198 2,087,700 70.3 Passenger Carried 1,127,246 1,883,950 67.1 RPK (‘000) 948,915 1,478,785 55.8 Passenger & Cargo Seat Load Factor (%)
Slide 15: Passengers Carried Breakdown by Segment
Passengers Carried Breakdown by Segment 9M - 2011 9M - 2012 9% 13% 19% 18% 72% 69% Domestik International Citilink Domestic International Citilink Passenger Carried in 9M 2011 : 12.4 mio Passenger Carried in 9M 2012 : 14.9 mio Domestic segment still the major contributor for our traffic, but the gro
Slide 16: Improving Productivity and Cost Efficiency
Improving Productivity and Cost Efficiency Year-on-Year Quarter-on-Quarter Net Rev/RTK CATK CATK excl Fuel Net Rev/RTK CATK CATK excl Fuel 92,4 94,6 92,9 93,3 100,26 99,37 92,71 92,07 92,05 95,78 81,4 84,24 73,1 75,7 61,2 55,7 55,1 54,7 56,70 54,98 57,43 55,35 54,79 54,00 50,1 53,48 47,8 47,6 34,7 3
Slide 17: Impact from Rejuvenation of Fleet
Impact from Rejuvenation of Fleet Fuel burn / RTK Fuel Burn / Blockhours 0,462 4.434 0,452 0,453 4.360 4.311 4.267 4.195 0,430 4.145 0,420 0,419 0,415 4.029 2007 2008 2009 2010 2011 9M 11 9M 12 2007 2008 2009 2010 2011 9M 11 9M 12 - Younger fleet age enable us to improve our efficiency on fuel usage
Slide 18: Fleet: Expansion and Rejuvenation of Fleet
Fleet: Expansion and Rejuvenation of Fleet Sep Dec Sep Ops Fin Owned # of Aircraft 2011 2011 2012 Lease Lease Fleet at 31 Dec 2011 87 Narrow Body 63 62 63 57 6 IN: Delivery of: +11 • B737-300 5 5 3 2 - 1 A330-200 1 • B737-400 6 1 - - - - A320-200 6 • B737-500 5 5 5 - - 5 B737-800 NG 4 • B737-8
Slide 19: Garuda Indonesia – Etihad Airways Codeshare agreement
Garuda Indonesia (GA) – Etihad Airways (EY) Codeshare agreement Steps taken to accelerate access to global network • More benefit for Garuda Indonesia customer • Expand International Network Coverage, especially European Network • Extensive collaboration possibility beyond codesharing (SPA, Frequent
Slide 20: GA – EY Codeshare agreement network
GA – EY Codeshare agreement Steps taken to accelerate access to global network Current Network GA – EY Network Europe Amsterdam Amsterdam To Other Europe Seoul Istanbul US/Canada Dubai Abu Dhabi Taipei Middle East & Africa To some domestic & ASEAN city Jakarta JKT Multiple Partner : Single Partner t
Slide 21: Human Capital
Human Capital 9M-2011 9M-2012 ∆ % YoY Number of Employees 5,835 6,105 4.63 Recruitment Pilot by Sources Ground Staff 3,031 3,129 3.23 2009 - current: Cockpit Crew 706 760 7.65 Cabin Crew 2,098 2,216 5.62 Others STPI 18% 33% ASK/Employee 3,912 4,060 3.78 RPK/Employee 2,935 3,097 5.52 BIFA Cockpit Cre
Slide 22: 9M – 2012 : Financial Result
9M – 2012 : Financial Result Handrito Hardjono , CFO 21
Slide 23: Income Statement Summary Consolidated
Income Statement Summary Consolidated Achieving USD 92.8 mio Income from Operations in 9M12, increase 140.4% from Operation in 9M11 And we could increase Income from Current Period to USD 60.8 mio in 9M12, from USD 29.2 mio in 9M11 In USD Mio 9M-2011 9M-2012 ∆ % YoY EBITDAR 369.4 445.3 20.5 Schedule
Slide 24: Operating Revenue 9M-2012
Operating Revenue 9M-2012 Changes in Operating Revenues (USD Mio) +$16.7 +$49.7 +$2.4 +$232.4 (+13.3%) (+458.6%) (+1.3%) (+13.2%) $2,386.6 $2,085.5 Strong Operating revenue growth, driven by 13.3% growth on passenger revenue (carried additional 2.5 million passenger compare 9M-2011) Passenger Cargo
Slide 25: Operating Expenses
Operating Expenses Changes in Operating Expenses (USD Mio) $10.4 $4.0 $16.1 +7.3% +15.2% Expense PoT* $6.4 +10.5% $23.7 +3.2% Others Item +13.0% G&A $2,293.8 $15.4 User Charges Others 1.3% $105.6 +8.3% Ticketing & Station +13.5% Pax & Sales G&A 6.7% Service User Charges 7.4% Maintenance & Station Ti
Slide 26: Balance Sheet Summary Consolidated
Balance Sheet Summary Consolidated (in USD Mio) 31-Dec-11 30-Sep-12 ∆ % YoY Current Assets 749.9 567.9 -24.3 Asset Non Curents Assets 1,325.5 1,639.1 23.7 Total Assets 2,075.4 2,207.0 6.3 Current Liabilities 645.8 747.7 15.8 Liabilities Non Curent Liabilities 506.8 477.0 -5.9 Total Liabilities 1,152
Slide 27: Cash Flow Summary Consolidated
Cash Flow Summary Consolidated (in USD Mio) 9M-2011 9M-2012 ∆ % YoY Beginning Cash/Cash Equivalents 131.0 417.3 218.6 •Operating Activities 139.3 215.4 54.6 •Investing Activities (198.0) (403.6) 103.9 •Financing Activities 330.9 (15.4) (104.7) Net Increase (Decrease) in Cash/Cash Equivalents 272.3 (
Slide 28: Sustainable Low Net Gearing
Sustainable Low Net Gearing Cash Position & Net Gearing Total Debt Breakdown 1.000 0,75 0,1% 0,66 862,8 750 33,5% 0,50 556 500 417 66,4% 363 0,24 0,25 250 209,2 131 0,05 - - 31-Dec-10 31-Dec-11 30-Sep-12 Long-term Loan Lease Liabilities Bank Loan (Short-term) Cash Position Total Debt on September 20
Slide 29: Subsidiaries
Ma a ; Aerowisata GMF beroAsia asyst abacus GARUDA INDONESIA GROUP Subsidiaries RS Garuda Indonesia
Slide 30: Summary of Subsidiaries Performance
Summary of Subsidiaries Performance PT Aerowisata Financial 9M-2012 (in USD) PT Aero System Financial 9M-2012 (in USD) 9M-2011 9M-2012 ∆% 9M-2011 9M-2012 ∆% Operating Income 8,703,386 4,303,489 -50.6 Operating Income 491,392 (317,003) -164.5 Net Income 7,448,217 4,308,641 -42.2 Net Income 52,811 7,3
Slide 31: The Remaining 2012 Outlook
The Remaining 2012 Outlook Emirsyah Satar , CEO 30
Slide 32: Outlook for the remaining Quarter in 2012
Outlook for the remaining Quarter in 2012 •Expected capacity growth FY 2012 will be 13% •Revenue growth inline with expectation : • Robust demand in Domestic • GIAA traffic continue to grow higher than market • New Fleet deliveries on-time • New player of FSC expected to enter the market , see no si
Slide 33: Notes
Notes Garuda Indonesia ~
Slide 34: Thank You
33 PT Garuda Indonesia (Persero) Tbk. Investor Relations Department 2nd Floor Management Building Garuda City Soekarno Hatta International Airport Phone : 62-21-2560 1201 THANK YOU Email : [email protected]
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