Atlas Air Worldwide Holdings Inc
Atlas Air Worldwide — Q2 2021 Earnings Presentation
13 slides from Atlas Air Worldwide's earnings presentation, Aug 5, 2021
Slide 1: Quarterly Review 2Q 2021
Quarterly Review JOHN W. DIETRICH President & CEO 2Q 2021 SPENCER SCHWARTZ August 5, 2021 Executive Vice President & CFO
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 extensive precautions to protect our employees and operations • Delivering safe and high-quality service for our customers PLAYING A VITAL ROLE IN THE GLOBAL SUPPLY CHAIN • Bringing goods to market with unmatched speed and reliability • Carrying expr
Slide 4: 2Q21 Highlights
2Q21 Highlights BUSINESS MOMENTUM CONTINUING • Strong demand for our aircraft and services • Increased aircraft utilization • Significant reduction of international belly cargo capacity • Disruption of global supply chains RESULTS ALSO REFLECTED • Long-term customer agreements with favorable rates •
Slide 5: Outlook
Outlook 3Q21 OUTLOOK 2021 COMMENTARY 2021 KEY ITEMS Revenue Strong momentum Maintenance Expense Nearly $1.0 billion continuing in 3Q21 Expected to be lower than 2020 Adj. EBITDA Economic and supply chain Depreciation/Amortization ~$250 million conditions favorable for ~$275 million Adj. Net Income a
Slide 6: 2Q21 Summary
2Q21 Summary ADJUSTED NET INCOME* BLOCK HOURS REVENUE $121.8 million 93,190 $990.4M REPORTED NET INCOME $107.1 million ADJ. EBITDA* DIRECT CONTRIBUTION $243.7M $242.6M *See August 5, 2021 press release for Non-GAAP reconciliations. 6
Slide 7: 2Q20 vs. 2Q21 Segment Overview
2Q20 vs. 2Q21 Segment Overview AIRLINE OPERATIONS REVENUE DRY LEASING REVENUE TOTAL REVENUE* In $Millions In $Millions In $Millions $990.4 $955.9 $825.3 $789.5 $40.9 $40.4 2Q20 2Q21 2Q20 2Q21 2Q20 2Q21 AIRLINE OPERATIONS CONTRIBUTION DRY LEASING CONTRIBUTION TOTAL CONTRIBUTION In $Millions In $Milli
Slide 8: Net Debt and Net Leverage Ratio
Net Debt and Net Leverage Ratio NET DEBT* NET LEVERAGE RATIO* In $Millions $2,969.5 4.5x $2,906.3 4.4x 4.4x $2,794.6 $2,332.9 3.0x $2,149.1 $2,089.4 2.5x $2,019.3 $2,010.6 2.1x 2.1x 2.0x 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 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 • Delivering safe and high-quality service for our customers • Safely transporting essential goods around the world ONGOING POSITIVE MARKET DYNAMICS • Strong business momentum continuing in 3Q2
Slide 10: Appendix
Appendix PP armas ame WORLDWIDE ATLAS 4 Polar as SOLITHERN Fire
Slide 11: 2021 Maintenance Expense
2021 Maintenance Expense (In $Millions) $121 $133 $100 $39 $56 Heavy Maintenance $18 $7 $11 $8 Non-Heavy Maintenance $76 $69 $71 Line Maintenance 1QA 2QA 3QE Line maintenance expense increases commensurate with additional block hour flying Non-heavy maintenance includes discrete events such as A
Slide 12: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures (In $Millions) 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 FACE VALUE OF DEBT $ 2,483.4 $ 2,484.4 $ 2,530.0 $ 2,606.4 $ 2,457.9 $ 2,399.0 $ 2,370.6 $ 2,456.4 PLUS: PRESENT VALUE OF OPERATING LEASES 568.8 536.2 500.2 465.7 420.5 476.6 432.8 314.7 TOTAL DEBT $ 3,052.3 $
Slide 13: Thank You
Thank You MTLAS AIR WORLDWIDE ATLAS AIR aa SOUTHERN Fire Tran ad
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