Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Q4 2007 Earnings Presentation
11 slides from Norwegian Air Shuttle Asa's earnings presentation, Feb 14, 2008
Slide 1: 4th Quarter Presentation: Strong revenue growth in Q4
Norwegian Air Shuttle ASA 4th Quarter Presentation February 14th 2008 CEO Bjø Bjørn Kjos Strong revenue growth in Q4 • MNOK 1,145 in revenue, 51% growth since last year – International: MNOK 659; 85% growth – Domestic: MNOK 486; 20% growth 1 400 1 200 51 % 1 000 MNOK Revenue 800 600 400 200 0 Q 4 0
Slide 2: Steady EBITDA margin on high growth
Steady EBITDA margin on high growth 1 400 1 200 51 % MNOK Revenue 1 000 800 600 400 200 0 Q4 06 Q 4 0 4 Q4 07 Q 4 0 5 EBITDA Group MNOK -19 -36 Earnings aft. tax Group -25 -21 EBITDA Group margin % -2 % -3 % EBITDA Norwegian w/o Polska & FlyNordic 35 18 EBITDA Norwegian Polska -52 -25 EBITDA FlyNord
Slide 3: Best year ever! Amplified seasonal variations and rising fuel prices
Best year ever! • Total earnings (EBITDA) of 208 MNOK in 2007 (21) • Earnings after tax of 85 MNOK (-22) • Fuel price increase reduced earnings with MNOK 60 in 2007 300 Less FlyNordic 18 % 250 Less Polish operation 200 13 % 150 8% 100 50 3% EBITDA Group MNOK EBITDA Margin Norway MNOK 0 EBITDA Margin
Slide 4: Positive cash flow from operations
Positive cash flow from operations • Positive cash flow from operations of 498 MNOK in 2007 (76) • Negative cash flow of 9 MNOK from operations in Q4 (-122) • Investments: – Boeing pre-delivery payment MNOK 50 – Currency hedge deposit of MNOK 215 • Financial activities: – Equity issue in August in r
Slide 5: Close to 7 million passengers in 2007
Close to 7 million passengers in 2007 • The Group had more than 6.9 million passengers in 2007* – 3.1 million domestically – 3.8 million internationally • Norwegian w/o subsidiaries transported 6.4 million passengers 8 000 000 36 % 7 000 000 6 000 000 5 000 000 Passengers LF 4 000 000 Passengers DY
Slide 6: Strong foothold on key domestic routes in Q4 2007
Strong foothold on key domestic routes in Q4 2007 • Market share in Q4 50 % 45 % 45 % 46 % 40 % 42 % 35 % 37 % 30 % 25 % 20 % 15 % 10 % 5% 0% Tromsø Stavanger Trondheim Bergen Decrease in unit cost despite significant increase in fuel prices • Unit cost of 0.53 in 2007 • Cost level affected by highe
Slide 7: Satisfactory utilization levels; Norwegian and the environment
Satisfactory utilization levels • But still upside potential to achieve ”best in class” performance Aircraft avg. Utilization/ Day Passengers Per Employee So ur ce: Jaco b s C o nsul t ancy S o ur ce: Jaco b s C o nsult ancy 12 000 14 12 10 000 10 8 000 2005 2005 8 2006 2006 6 000 6 2007 2007 4 000
Slide 8: Emissions reduction and significant bottom line savings
Emissions reduction and significant bottom line savings McDonnell Douglas MD-80 Boeing 737-300 Boeing 737-800 HGW Consumption (t/yr/a/c) 8 867 Consumption (t/yr/a/c) 8 200 Consumption (t/yr/a/c) 8 467 Fleet size 40 Fleet size 40 Fleet size 31,5 Number of Seats 5960 Number of Seats 5960 Number of Sea
Slide 9: Norwegian Reward and Call Norwegian
Norwegian Reward • Norwegian Reward is a joint venture with BankNorwegian • Implementation has been highly successful Call Norwegian • Call Norwegian is a fully owned subsidiary of the airline Attractive to travellers: In flight, at airports, abroad - Simple Low Cost - Web - Competitive price Chess,
Slide 10: Continued Expansion in 2008; Expectations for 2008
Continued Expansion in 2008 • 7 Boeing 737-800 and 3 Boeing 737-300 adds capacity – Norway: 4 B737-800 and 2 B737-300 – Sweden: 3 B737-800; 4 MD-80 phased out – Poland: 1 B737-300 • Total fleet of 41 aircraft from June 2008 • Expected production increase of approximately 50 % • New Rygge base starts
Slide 11: 146 routes to 76 destinations
146 routes to 76 destinations 11
Norwegian Air Shuttle — Q4 2007 Earnings Presentation on 6ix