Atlas Air Worldwide Holdings Inc
Atlas Air Worldwide — Q4 2021 Earnings Presentation
14 slides from Atlas Air Worldwide's earnings presentation, Feb 17, 2022
Slide 1: Quarterly Review 4Q 2021
Quarterly Review 4Q 2021 JOHN W. DIETRICH President & CEO SPENCER SCHWARTZ Executive Vice President & CFO FEBRUARY 17, 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 SAFETY IS OUR TOP PRIORITY • Taking every precaution to protect our employees and operations • Safely supporting our customers and transporting essential goods RECORD BLOCK HOURS, REVENUE AND EARNINGS IN 2021 ACTIVELY MANAGING FLEET • All new and incoming 747-8F deliveries placed under
Slide 4: 4Q21 Highlights
4Q21 Highlights RECORD RESULTS • Strong demand for our aircraft and services • Ongoing reduction of available capacity in the market • Continued disruption of global supply chains BENEFITED FROM • Higher yields • Increased aircraft utilization • New and extended long-term customer contracts • Operat
Slide 5: Outlook and Capital Allocation
Outlook and Capital Allocation 1Q22 OUTLOOK 2022 COMMENTARY / KEY ITEMS CAPITAL ALLOCATION STRATEGY Revenue Strong airfreight environment and Balanced approach ~$1.0 billion demand for our assets and services Adj. EBITDA Anticipate capacity on key long-haul Maintain strong balance sheet Similar to 1
Slide 6: 4Q21 Summary
4Q21 Summary ADJUSTED NET INCOME* BLOCK HOURS REVENUE $211.6 million 91,985 $1.2B REPORTED NET INCOME $176.7 million ADJ. EBITDA* DIRECT CONTRIBUTION $361.8M $365.5M *See February 17, 2022 press release for Non-GAAP reconciliations. 6
Slide 7: 4Q20 vs. 4Q21 Segment Overview
4Q20 vs. 4Q21 Segment Overview AIRLINE OPERATIONS REVENUE DRY LEASING REVENUE TOTAL REVENUE* In $Millions In $Millions In $Millions $1,125.8 $1,163.0 $896.9 $932.5 $41.6 $41.7 4Q20 4Q21 4Q20 4Q21 4Q20 4Q21 AIRLINE OPERATIONS CONTRIBUTION DRY LEASING CONTRIBUTION TOTAL CONTRIBUTION In $Millions In $M
Slide 8: Net Debt and Net Leverage Ratio
Net Debt and Net Leverage Ratio NET DEBT* NET LEVERAGE RATIO* In $Millions 4.4x $2,794.6 $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 $1,649.5 1.5x 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Debt and finance lease payments o
Slide 9: Key Takeaways
Key Takeaways SAFETY IS OUR TOP PRIORITY • Taking every precaution to protect our employees and operations • Safely supporting our customers and transporting essential goods EXCELLENT PERFORMANCE IN 2021 • Delivered record block hours, record revenue and record earnings MARKET CONDITIONS REMAIN STRO
Slide 10: Appendix
MATLAS AIR WORLDWIDE Appendix
Slide 11: 2021 Maintenance Expense
2021 Maintenance Expense Totals (In $Millions) $473 $121 $133 $103 $116 Heavy $153 Maintenance $39 $56 $35 $23 Non-Heavy $29 $7 $8 $6 $8 Maintenance $76 $75 $69 $72 Line $291 Maintenance 1QA 2QA 3QA 4QA Line maintenance expense increases commensurate with additional block hour flying Non-heavy m
Slide 12: 2022 Maintenance Expense
2022 Maintenance Expense (In $Millions) $131 Heavy Maintenance $54 Non-Heavy Maintenance $11 $66 Line Maintenance 1QE Line maintenance expense increases commensurate with additional block hour flying Non-heavy maintenance includes discrete events such as APU, thrust reverser, and landing gear ov
Slide 13: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures (In $Millions) 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 FACE VALUE OF DEBT $ 2,530.0 $ 2,606.4 $ 2,457.9 $ 2,399.0 $ 2,370.6 $ 2,456.4 $ 2,431.5 $ 2,349.1 PLUS: PRESENT VALUE OF OPERATING LEASES 500.2 465.7 420.5 476.6 432.8 314.7 248.3 221.4 TOTAL DEBT $ 3,030.2 $
Slide 14: Thank You
Thank You MTLAS AIR WORLDWIDE
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