Aimia Inc. · TSX:AIM
Aimia — Groupe Aeroplan — Q3 2008 Earnings Presentation
15 slides from Aimia's earnings presentation, Nov 14, 2008
Slide 1: Groupe Aeroplan Q3 2008 Financial Highlights
GROUPE AEROPLAN Q3 2008 FINANCIAL HIGHLIGHTS 1 November 14, 2008
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", "
Slide 3: Q3 2008 Results
Q3 2008 RESULTS – • First full quarter of results reflecting corporate status • Conversion to a corporation has been accounted for as a continuity of interests • Groupe Aeroplan continues to operate the business of the Fund and no change in ownership has occurred • Comparative results are those of t
Slide 4: New Performance Metrics
NEW PERFORMANCE METRICS- • Adjusted Net Earnings = Net Earnings (GAAP) + 1) Amortization of accumulation partners’ contracts & technology + 2) (Change in Deferred Revenue - Change in Future Redemption Costs) - 3) Income tax effect* on 2) above • Free Cash Flow = Cash flows from operating activities
Slide 5: Financial Overview Quarterly Consolidated Results
Financial Overview Quarterly Consolidated Results Three months ended September 30 (1) (in millions, except where indicated) 2008 2007 Change Gross Billings $ 355.6 $ 236.9 $ 118.7 50% Total Revenue 335.0 219.2 115.8 53% Operating Income (2) 68.4 48.1 20.3 42% Net earnings 35.0 50.9 (15.9) -31% Adjus
Slide 6: Financial Overview – Year to date – Consolidated Results
Financial Overview – Year to date – Consolidated Results YTD September 30 (1) (in millions, except where indicated) 2008 2007 Change Gross Billings $ 1,056.1 $ 703.8 $ 352.3 50% Total Revenue 1,027.9 684.8 343.1 50% Operating Income (2) 201.7 143.4 58.3 41% Net earnings 108.5 150.4 (41.9) -28% Adjus
Slide 7: Gross Billings by Major Accumulation Partner Q3 2008
Gross Billings by Major Accumulation Partner Q3 2008 $355.6 million Gross Billings Q3 2007* $236.9 million Gross Billings Partner C 16% Air Others Canada 11% Air 16% Partner Canada B 24% Others 12% 18% Partner Partner Partner A A 53% B 9% 41% 7 * 2007 results presented for comparative purposes are t
Slide 8: Gross Billings – Canadian segment
Gross Billings – Canadian segment Miles Issued (billions) Gross Billings (millions $) 21.5 19.5 261.1 10.3% 236.9 Q3 2008 Q3 2007 10.2% Avg. Selling Price (cents) 1.21 1.21 0% Q3 2008 Q3 2007 Q3 2008 Q3 2007 8 GROUPE AEROPLAN 8
Slide 9: Revenue – Canadian segment
Revenue – Canadian segment Total Miles Redeemed (billions) 16.5 Three months ended September 30 15.6 (1) (in millions, except where indicated) 2008 2007 Change 15.5 Miles Revenue $ 187.4 $ 169.8 $ 17.6 10% 14.1 Breakage Revenue 39.2 35.3 3.9 11% 226.6 205.1 21.5 10% 9.9% Other 13.0 14.1 (1.1) -8% To
Slide 10: Gross Margin – Canadian segment
Gross Margin – Canadian segment Three months ended September 30 (in millions, except where indicated) 2008 2007 (1) Change Total Revenue $ 239.6 $ 219.2 $ 20.4 9% Cost of Rewards 141.7 127.2 14.5 11% Gross Margin 97.9 92.0 5.9 6% Gross Margin % 40.9% 42.0% -1.1% (1) 2007 results presented for compar
Slide 11: Operating Expenses – Canadian segment
Operating Expenses – Canadian segment Three months ended September 30 (in millions, except where indicated) 2008 2007 (1) Change SG&A $ 46.4 $ 40.7 $ 5.7 14% Depreciation & Amortization (2) 3.1 3.2 (0.1) -3% Operating Expenses (2) 49.5 43.9 5.6 13% (1) 2007 results presented for comparative purposes
Slide 12: Segmented information – Europe and Middle East
Segmented information – Europe and Middle East Europe and Middle East YTD Sept (in millions, except where indicated) Q1 2008 Q2 2008 Q3 2008 30, 2008 Gross Billings $ 100.3 $ 99.1 $ 94.5 $ 293.9 Revenue Mileage 85.6 91.1 86.7 263.4 Other 3.7 5.3 8.7 17.7 89.3 96.4 95.4 281.1 Cost of rewards 59.6 53.
Slide 13: Capital Structure
Capital Structure As at Sept. 30, June 30, December 31, (in millions, except where indicated) 2008 2008 2007 Cash and cash equivalent $ 174.1 $ 87.2 $ 456.0 Short-term investments 452.9 457.9 123.4 Total cash and short-term investments 627.0 545.1 579.4 Long-term debt 695.5 714.8 734.7 Shareholders'
Slide 14: Interest, foreign exchange and income taxes
Interest, foreign exchange and income taxes Interest, foreign exchange and income taxes YTD Sept. 30, (in millions, except where indicated) Q1 2008 Q2 2008 Q3 2008 2008 Interest expense (6.3) (7.7) (6.3) (20.3) Foreign exchange Currency SWAP (13.7) (1.9) 27.4 11.8 Intercompany debt & other 18.0 (2.6
Slide 15: Groupe Aeroplan
GROUPE AEROPLAN November 14, 2008