Alliance Aviation Services Limited · ASX:AQZ
Alliance Aviation Services — H1 FY2019 Earnings Presentation
17 slides from Alliance Aviation Services's earnings presentation, February 2019
Slide 1: H1 2019 Alliance Aviation Services Limited Results Presentation
H1 2019 Alliance Aviation Services Limited Results Presentation February 2019
Slide 2: Key Messages
Key Messages Alliance Aviation Services Limited announces a half $14.1m year result which includes: Profit before tax, Record interim • A strong financial performance underpinned by dividend of 6.8 cents, Revenue, up 38% increased flight hours and increased revenue; up 172% up by 18% • The lowest ne
Slide 3: Five Revenue Streams
3 Five Revenue Streams Contract Revenue Wet Lease RPT Revenue Charter Revenue Aviation Services Long term contract flying Operating Alliance aircraft for Regular public transport (RPT) Short term income from Complementary services other carriers services to regional ports ad-hoc requests including l
Slide 4: Financial Summary
Financial 4 Summary For the half year ended 31 December 2018
Slide 5: Financial Statements
5 Financial Statements Alliance has delivered a strong financial result Detail 31 December 2018 31 December 2017 for the half year ended 31 December 2018 Aircraft in service* 38 31 Flight Hours – contracted 9,596 9,647 Flight Hours – wet lease 6,683 3,506 Flight Hours – RPT 2,611 2,347 Flight Hours
Slide 6: Income Statement Observations
Alliance Aviation Services - Income Statement % Observations: 1H FY19 1H FY18 pcp • Wet lease revenue increased significantly ($ in millions) Actual Actual change throughout the half year as a result of Revenue flying performed for a number of Contract revenue 80.8 77.8 4% operators both domesticall
Slide 7: Statement of Financial Position Observations
Alliance Aviation Services - Statement of Financial Position ($ in millions) 31-Dec-18 30-Jun-18 31-Dec-17 Observations: 7 Cash 13.1 11.8 8.7 Receivables 31.7 31.3 34.3 • Cash has increased over the year as a Inventory 49.1 50.9 46.7 result of increased profitability and Total current assets 93.9 94
Slide 8: Cash Flow Statement Observations
Observations: Alliance Aviation Services - Cash Flow Statement 1H FY19 1H FY18 ($ in millions) Actual Actual • Cash from operating activities stable and Receipts from customers (inclusive of GST) 151.0 130.0 Payments to suppliers (inclusinve of GST) (128.3) (106.8) includes $5.2M of inventory paymen
Slide 9: Stable Contract Client Base
Stable Contract Client Base Half Year 2019 Alliance Aviation 2019 Half Year Results Presentation
Slide 10: Major Commodity/Sector Exposure by Major Contracts - 1H FY19
Major Commodity/Sector Exposure by 15 Major Contracts - 1H FY19 Commodity / Sector Exposure Half Year 2019 Alliance Aviation 2019 Half Year Results Presentation
Slide 11: Footprint
Footprint - Crew - Line Maintenance - Crew - Line Maintenance - Operational base - Offices - Operational base - Offices - Hangar - Crew - Line Maintenance - Operational base - Offices - Hangar - Major crew base - Line Maintenance - Operational base - Hangar - Offices - Major crew base - Spares inven
Slide 12: Operational Excellence
Operational Excellence Long-term heavy Wyvern Wingman Rolls Royce total 95% OTP maintenance provider certification care program Renewed IOSA BARS Gold standard Long-term certification in FY18 achieved heavy maintenance provider Half Year 2019 Alliance Aviation 2019 Half Year Results Presentation
Slide 13: Outlook
Alliance retains a positive outlook for the 2019 financial year based on its strong half year result and consistent with prior financial years the second half of the year is expected to exceed the first half. • Demand for contract flying is expected to increase in the second half of FY19, with a num
Slide 14: Appendix A
14 Appendix A
Slide 15: Share price performance
Share price performance Since 1 May 2018 the Alliance share price has increased significantly. This has been as a result of a number of contract wins, superior earnings performance, reduced debt levels, strong cash generation and payment of dividends. LTM Share Price Performance (indexed to 100) 170
Slide 16: Rolling multiples
Rolling multiples Alliance has historically traded at EBITDA multiples well below the ASX 200 and ASX 300 market indicators. Enterprise Value / EBITDA 12.0x 10.0x 8.0x 6.0x 4.0x 2.0x 0.0x Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Feb 14 Feb 15 Feb 16 Feb 17 Feb 18 Aug 17 Aug 14 Aug 15 Aug 16 Aug 18 Oct 14
Slide 17: Disclaimer
Disclaimer Reliance on third party information This presentation was prepared by Alliance Aviation Services Limited (ACN 153 361 525) (“Alliance”). This presentation may contain information that has been derived from publicly available sources that have not been independently verified. No representa
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