Aimia Inc. · TSX:AIM
Aimia — Groupe Aeroplan — Q2 2009 Earnings Presentation
16 slides from Aimia's earnings presentation, Aug 14, 2009
Slide 1: Groupe Aeroplan Q2 2009 Financial Highlights
GROUPE AEROPLAN Q2 2009 FINANCIAL HIGHLIGHTS 1 August 14, 2009
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements in this presentation may contain forward-looking statements. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "w
Slide 3: Financial Overview - Quarter
Financial Overview - Quarter Three months ended June 30, (in millions, except where indicated) 2009 2008 Change Gross Billings $ 337.8 $ 357.9 $ (20.1) -5.6% Total Revenue 333.5 336.7 (3.2) -1.0% Operating Income before amortization of Accumulation Partners' contracts and 58.0 69.5 (11.5) -16.5% tec
Slide 4: Financial Overview - YTD
Financial Overview - YTD Six months ended June 30, (in millions, except where indicated) 2009 2008 Change Gross Billings $ 664.1 $ 700.5 $ (36.4) -5.2% Total Revenue 689.3 692.9 (3.6) -0.5% Operating Income before amortization of Accumulation Partners' contracts and 116.4 133.3 (16.9) -12.7% technol
Slide 5: Gross Billings by Major Accumulation Partner
Gross Billings by Major Accumulation Partner Q2 2009 Q2 2008 $337.8 million Gross Billings $357.9 million Gross Billings Others Air Others 17% Canada 18% Air 19% Canada 18% Partner Partner C C 17% 17% Partner Partner Partner A Partner A B 37% B 37% 10% 10% Note: Gross billings to Partner B reflects
Slide 6: Gross Billings – Canadian segment
Gross Billings – Canadian segment Miles Issued (billions) Gross Billings (millions $) 21.3 20.1 258.8 (5.6%) 246.4 Q2 2009 Q2 2008 (4.8%) Avg. Selling Price (cents) 1.23 1.22 0.8% Q2 2009 Q2 2008 Q2 2009 Q2 2008 6 GROUPE AEROPLAN 6
Slide 7: Revenue – Canadian segment
Revenue – Canadian segment Total Miles Redeemed (billions) 17.0 16.7 Three months ended June 30, (in millions, except where indicated) 2009 2008 Change 16.3 15.6 Miles Revenue $ 197.5 $ 188.2 $ 9.3 4.9% Breakage Revenue 43.6 38.2 5.4 14.1% 241.1 226.4 14.7 6.5% Tier Management & Marketing 1.3 1.7 (0
Slide 8: Cost of Rewards – Canadian Segment
Cost of Rewards – Canadian Segment Aeroplan Miles Redeemed (billions) Cost of Rewards (millions $) 16.3 15.6 149.9 4.4% Q2 2009 Q2 2008 139.2 Average Cost / Mile 7.7% Redeemed (cents) 0.92 0.89 3.3% Q2 2009 Q2 2008 Q2 2009 Q2 2008 8 GROUPE AEROPLAN 8
Slide 9: Gross Margin – Canadian segment
Gross Margin – Canadian segment Three months ended June 30, (in millions, except where indicated) 2009 2008 Change Total Revenue $ 255.1 $ 240.3 $ 14.8 6.2% Cost of Rewards 149.9 139.2 10.7 7.7% Gross Margin 105.2 101.1 4.1 4.1% Gross Margin % 41.2% 42.1% -0.9% Average Cost / Mile Redeemed ¢ 0.92 ¢
Slide 10: Operating Expenses – Canadian segment
Operating Expenses – Canadian segment Three months ended June 30, (in millions, except where indicated) 2009 2008 Change SG&A $ 42.3 $ 45.3 $ (3.0) -6.6% Depreciation & Amortization 21.5 21.2 0.3 1.4% Operating Expenses 63.8 66.5 (2.7) -4.1% 10 GROUPE AEROPLAN 10
Slide 11: Segmented information
Segmented information Three months ended June 30, 2009 Europe and (in millions, except where indicated) Canada Consolidated Middle East Gross Billings $ 246.4 $ 91.4 $ 337.8 Revenue Mileage 241.1 71.3 312.4 Other 14.1 7.1 21.2 255.2 78.4 333.6 Cost of rewards 149.9 51.8 201.7 Gross margin 105.3 26.6
Slide 12: Segmented Information – Europe and Middle East
Segmented Information – Europe and Middle East Three months ended June 30, 2009 Change (1) Conversion 2009 (in millions, except where indicated) (constant 2008 (constant impact (FX) (as reported) currency) currency) A B (A-B)/B Gross Billings $ 100.7 $ (9.3) $ 91.4 $ 99.1 2% Revenue 86.4 (8.0) 78.4
Slide 13: Segmented Information – Europe and Middle East
Segmented Information – Europe and Middle East Six months ended June 30, 2009 Change (1) Conversion 2009 (in millions, except where indicated) (constant 2008 (constant impact (FX) (as reported) currency) currency) A B (A-B)/B Gross Billings $ 196.5 $ (19.0) $ 177.5 $ 199.4 -1% Revenue 173.1 (16.7) 1
Slide 14: Capital Structure
Capital Structure As at June 30, Dec. 31, July 31, (in millions, except where indicated) 2009 2008 2009 Cash and cash equivalent $ 590.0 $ 188.0 $ 693.5 Short-term investments 34.6 477.3 - Total cash and short-term investments 624.6 665.3 693.5 Long-term debt 690.4 697.0 766.0 Shareholders' equity 1
Slide 15: Air Canada – Summary of Financial Support
Air Canada – Summary of Financial Support November of 2008 - agreement to temporarily accelerate our payment terms to Air Canada, which resulted in $63 million of payments by Aeroplan in advance of normal settlement terms. June of 2009 - the acceleration of payment terms agreement was terminated
Slide 16: Groupe Aeroplan
GROUPE AEROPLAN August 14, 2009