Slide 1: Second Quarter 2019 Financial Results
Second Quarter 2019 Financial Results AerCap Holdings N.V. July 30, 2019 D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 2: Disclaimer Including Forward Looking Statements & Safe Harbor
Disclaimer Including Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with as required by applicable law, we do not undertake any obligation to, and will respect to future performance and events. These statements, estimates and not, upda
Slide 3: Well-Positioned for the Future
Well-Positioned for the Future ~90% >$40 ~95% 4Q 53% PLACED BILLION CONTRACTED 2026 NEW TECHNOLOGY ORDER BOOK CONTRACTED FUTURE LEASE RENTS AVERAGE AIRCRAFT AS % OF THROUGH 2021 LEASE REVENUES THROUGH 2021 LEASE END DATE CURRENT FLEET NBV © 2019 AerCap | Confidential property of the company, not for
Slide 4: 2Q 2019 Financial Results and Highlights
2Q 2019 Financial Results and Highlights Financial Results Highlights • Record earnings per share of $2.42 NET INCOME • 13% increase in book value per share since June 30, 2018 ($ million) 2Q 2019 2Q 2018 • 99.4% fleet utilization Net Income 331.5 254.2 • $2.7 billion increase in average lease asset
Slide 5: Net Income and Earnings Per Share
Net Income and Earnings Per Share 2Q 2019 2Q 2018 1H 2019 1H 2018 Net Income ($ million) 331.5 254.2 565.6 519.6 Diluted Earnings Per Share ($) 2.42 1.70 4.09 3.42 Key Highlights • Net income increased 30%, primarily driven by higher lease rents resulting from a $2.7 billion increase in average leas
Slide 6: Revenues and Other Income
Revenues and Other Income ($ million) 2Q 2019 2Q 2018 Basic Lease Rents 1,077.1 1,023.1 Maintenance Rents and Other Receipts 109.1 107.9 Net Gain on Sale of Assets 78.2 51.2 Other Income 17.0 12.4 Total Revenues and Other Income 1,281.3 1,194.6 • Basic lease rents increased in 2Q 2019 due to the inc
Slide 7: Net Interest Margin and Net Spread
Net Interest Margin and Net Spread 2Q 2019 2Q 2018 Net Interest Margin ($ million) 754.5 733.7 Average Lease Assets ($ million) 37,644 34,897 Average Cost of Debt Including debt issuance costs, upfront fees, undrawn fees, commitment fees and original issuance discount fees of 0.34% in 4.3% 4.1% 2Q 2
Slide 8: Aircraft Disposals and Purchases
Aircraft Disposals and Purchases Net Gain on Sale of Assets Sales Volume and Margin Over the Last 8 Quarters 900 Sales Volume 40% ($ million) ($ million) 2Q 2019 2Q 2018 Unlevered Sales Margin 800 35% Net Gain on Sale of Assets 78.2 51.2 700 30% 2Q 2019 Aircraft Disposal Activity for $502 million 60
Slide 9: Other Expenses
Other Expenses ($ million) 2Q 2019 2Q 2018 Selling, General & Administrative Expenses 64.5 85.3 Maintenance Rights Expense 16.1 34.9 Other Leasing Costs 49.1 68.4 Asset Impairment 17.8 14.0 • Selling, general and administrative expenses decreased by 24% in 2Q 2019, primarily due to a decrease in com
Slide 10: Liquidity Position
Liquidity Position We continue to maintain strong liquidity, with $8.6 billion available as of June 30, 2019 Sources vs. Uses (Next 12 Months) ($ billion as of June 30, 2019) Liquidity Levels Over the Last 8 Quarters Sources (for 12 months to June 30, 2020) ($ billion) 12.0 11.7 3.5x 11.0 11.1 Unsec
Slide 11: Book Value Per Share
Book Value Per Share AerCap has grown book value per share by 13% year over year and by ~15% per year over the last 5 years Book Value Per Share Book Value Per Share Growth (millions, except per share Jun. 30, Jun. 30, $70 data) 2019 2018 $67 $65 $63 Total Shareholders’ Equity $9,013 $8,669 $60 $57
Slide 12: Q&A
Q&A D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 13: Supplemental Information
Supplemental Information D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 14: Capital Structure
Capital Structure Summary Jun. 30, 2019 Adjusted Debt / Equity Ratio 2.8 to 1 Adjusted Debt/Equity Calculation ($ million) Jun. 30, 2019 Debt (including fair value adjustments) 29,020 Adjusted for: • Unrestricted cash & cash equivalents (783) • 50% equity credit for long-term subordinated debt (750)
Slide 15: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise 53% of our owned fleet Number of % Net Number of Number of Total Aircraft Type Owned Aircraft Book Value Managed Aircraft on Order Aircraft Aircraft Airbus A320 Family 302 15 39 − 341 Airbus A320neo Family 115 16 − 155 270
Slide 16: Forward Order and Purchase/Leasebacks
Forward Order and Purchase/Leasebacks 2019 Aircraft Type 2020 2021 2022 2023 Total remaining Airbus A320neo Family 22 49 34 25 25 155 Airbus A350 − − 2 2 − 4 Boeing 737 MAX 3 34 28 27 3 95 Boeing 787 6 3 6 6 9 30 Embraer E190 / 195-E2 8 13 14 12 − 47 Total Aircraft 39 99 84 72 37 331 • Note: Boeing
Slide 17: Endnotes
Endnotes SLIDE 7: Net Interest Margin and Net Spread Net interest margin is calculated as basic lease rents less interest expense, excluding the non-cash charges related to the mark-to-market of interest rate caps. Average lease assets includes flight equipment held for operating leases, flight equi
Slide 18: AerCap House, 65 St. Stephen's Green, Dublin
AerCap House T: +353 1 819 2010 65 St. Stephen’s Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e