Aegean Airlines Sa · ATHEX:AEGN
Aegean Airlines Sa — Investor Presentation (December 2021)
29 slides from Aegean Airlines Sa's investor presentation, December 2021
Slide 1: Corporate Presentation
Corporate Presentation December 2021
Slide 2: More than 21 years of experience
More than 21years of experience 2020 1999 2003 2007 2011 2018 Delivery Launch scheduled First profitable Listing in Athens International Airbus order of 46x of 8 flights; year pre-tax Exchange, raising traffic exceeds A/C of the Α320 neo Domestic market basis; €135m through domestic for the A320neo
Slide 3: Proven track record of growth prior the pandemic
Proven track record of growth prior the pandemic 83,2% 83,9% 84,8% Load Factor Evolution 78,3% 78,3% 76,9% 77,4% 74,3% 68,1% 68,9% Available Seats Kilometers 16,4 16,7 17,2 18,6 14,7 12,2 15,0 9,8 10,7 8,3 9,1 14,0 13,2 12,5 11,6 Passenger Evolution (in mil.) 10,1 8,8 Domestic International Olympic
Slide 4: Demand for travelling continued to be affected in 2021
Demand for travelling continued to be affected in 2021 % change with the respective month in 2019 ASK’s RPK’s 2021 Global Market European Market Global Market European Market January -58,7% -68,7% -72,0% -77,4% February -63,1% -75,0% -74,7% -82,8% March -56,8% -74,1% -67,2% -81,7% April -54,5% -72,0
Slide 5: Path to “New Normality → 2023+”
Path to “New Normality → 2023+” Invest in People & Core Competences Grounding Restricted- Restart Path to Recovery Normality… Protect the health of its customers and employees New Network Product Novelty Customer Focus Unitand Dynamic network Costs Flexibility capacity management Address Legacy Resi
Slide 6: AEGEAN’s activity in the pandemic vs 2019 activity
AEGEAN’s activity in the pandemic vs 2019 activity 130% Pax Flights 120% 110% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2020 2021 6
Slide 7: Actions to navigate crisis
Actions to navigate crisis Stage 1 (first six months) Cooperation Authorities on Pandemic – Protocols Consolidation HQ facilities = Improved Cooperation Protect the health of its customers Address Suppliers for Flexibility - Cost 01 and employees Secure Extra Liquidity Dynamic- Flexible Network mana
Slide 8: Aegean performance → Recovery in Q3-21
Aegean performance → Recovery in Q3-21 Q1-Q2 2021 activity severely restricted up to mid May, < 25% Revenue & Passengers 2019 May-June introduction of EU Digital COVID Certificate and easing of travel restrictions during the third quarter of 2021-> Travel Begins to Re-Start Greece is among the “reco
Slide 9: Recovery as of June 2021 and continued into October 2021
… recovery as of June 2021 and continued into October 2021 Average recovery in Europe in terms of flights occurs gradually June-August and reaches c-30% (run-rate) by late August 2021 vs 2019; Pan European Load Factors significant lower; Greece outperforms in flight recovery as a result of desirabil
Slide 10: Significant rebound in headline EBITDA
Significant rebound in headline EBITDA Capacity (ASK’s) Load Factor 6.323 76% of Q3-19 capacity 4.823 18 p.p. lower than Q3-19 4.159 88% 66% 70% 2.761 2.672 1.805 1.318 444 460 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q3-19 Q3-20 Q3-21 Revenue (in € mil.) EBITDA (in € mil.) 512,5 65% of
Slide 11: Recovery in demand and cost savings result to positive headline results
Recovery in demand and cost savings result to positive headline results in the quarter – First profitable quarter Q3-2021 Q3-2020 % (in € mil.) Headline Non headline Total change Revenue 333,9 - 333,9 155,1 115% EBITDA 104,6 62,7 167,3 2,5 6702% Pre-tax profit/(loss) for the period 58,8 121,5 (36,9)
Slide 12: Group’s liquidity position
Group’s liquidity position Debt (€ mil.) Cash & Cash Equivalents (€ mil.) 543,5 516,9 475,2 478,4 448,5 437,2 433,3 343,8 289,6 238,9 198,7 197,1 FY 2019 Q1 2020 Q2 2020 Q3 2020 FY 2020 Q3 2021 FY 2019 Q1 2020 Q2 2020 Q3 2020 FY 2020 Q3 2021 (amounts in EUR mil.) FY 2019 FY 2020 Sep-2021 Cash and Ca
Slide 13: AEGEAN’s relative performance vs peers
AEGEAN’s relative performance vs peers Q3 2021 vs Q3 2019 Revenue Company Seats PAX Revenue per seat EBIT Wizzair 97% 81% 70% 72% 18% Ryanair 84% 71% 58% 69% 25% Aegean 78% 64% 65% 84% 53% Swiss 65% 50% 50% 76% 0% Austrian 64% 52% 48% 74% 13% Brussels 61% 50% 53% 88% 3% Air France 61% 54% 60% 99% 9%
Slide 14: Aegean Fleet development
Aegean Fleet development • Discussions with counterparties continue • Flexibility remains in terms of expiring leases • NEO fleet acceleration to provide significant cost benefits • Turboprop fleet; good timing to assess available options in the market September 2021 A/C AIRBUS NEO 9 AIRBUS CEO 42 T
Slide 15: 46 neo A320/321 the largest private investment in Greece
46 neo- A320/321 the largest private investment in Greece the new aircraft facilitate the offer of new services to passengers, as well as increased range capabilities for expansion to new destinations and markets. NEO fleet will strengthen AEGEAN’s competitiveness, reduce operating costs and upgrade
Slide 16: Multiple benefits from A320neo fleet
Multiple benefits from A320neo fleet Quality upgrade Improved Range Fuel Savings Financial Benefits Possibilities Aegean’s specific benefits ▪ Increased seat ▪ Operational ▪ The new engine ▪ Re-contracting of capacity per opportunities to option offer min 15% maintenance; Non- aircraft. The new reac
Slide 17: Product “Offensive”, Sept 2021-Apr 2022
Product “Offensive”, Sept 2021-Apr 2022 New Upgraded Lounges (Thessaloniki, then Athens) New Customer Services Onboard …. October+ Deepening of Loyalty Product with New Partnerships Evolving Upgrade of web site services/look & App Expanded Structure of 2022 Network Re-Accelerated Fleet Renewal Posit
Slide 18: Appendix
Appendix
Slide 19: Working together
Working together An enduring partnership among five groups/partners1: Vassilakis, Laskaridis, Constantakopoulos, Ioannou and David families. Company’s shares are listed in the Athens Stock Exchange since 2007. Rest Free Float 33,8% Vassilakis Family 37,5% Other pre-IPO 6,0% Achilleas Alnesco Enterpr
Slide 20: Hedging Coverage
Hedging Coverage Managing exposure to reduce volatility on results and target cost certainty. Hedging rate % Year Jet Fuel 2022 39% 2023 3% Hedging rate % Year US dollars 2022 38% 2023 38% 20
Slide 21: Aegean at a glance
Aegean at a glance (in € mil.) Q3 2020 Q3 2021 % change 9M 2020 9M 2021 % change Revenue 155,1 333,9 115% 342,5 486,8 42% EBITDA 2,5 167,3 6702% (47,1) 157,2 - Pre-tax earnings/(Losses) (36,9) 121,5 - (237,7) 29,8 - Net earnings/(Losses) (28,4) 107,2 - (187,2) 28,8 - Total passengers (in thousands)
Slide 22: Profit and Loss Account
Profit and Loss Account Consolidated Income Statement- Three months ended September 2021 Q3-2021 Q3-2020 % (in € mil.) Headline Non-headline Total change Scheduled Services 280,2 - 280,2 130,2 115% Charter 20,4 - 20,4 6,7 205% Other 33,3 - 33,3 18,2 83% Total Revenue 333,9 - 333,9 155,1 115% Other o
Slide 23: Profit and Loss Account
Profit and Loss Account Consolidated Income Statement- Nine months ended September 2021 9M-2021 9M-2020 % (in € mil.) Headline Non-headline Total change Scheduled Services 403,4 - 403,4 285,8 41% Charter 28,2 - 28,2 9,9 184% Other 55,2 - 55,2 46,8 18% Total Revenue 486,8 - 486,8 342,5 42% Other oper
Slide 24: Balance Sheet Aegean Group- Summary
Balance Sheet Aegean Group- Summary September December (in € mil.) 2021 2020 Total Fixed Assets 868,8 838,8 Cash & Cash Equivalents 531,21 466,21 Financial Assets Available for Sale 12,4 12,3 Other Current Assets 202,7 123,8 Total Assets 1.615,0 1.441,0 Total Equity 224,2 77,6 Lease Liabilities 425,
Slide 25: Cash Flow Aegean Group - Summary
Cash Flow Aegean Group - Summary (in € mil.) Jan-Sep 2021 Jan-Sep 2020 Net cash flows from operating activities 232,8 (16,6) Net cash flows from investing activities (49,3) (45,6) Net cash flows from financing activities (100,9) (16,2) Net (decrease)/ increase in cash and cash equivalents 82,6 (78,4
Slide 26: Group Operating Figures
Group Operating Figures Q3 2020 Q3 2021 % change 9M 2020 9M 2021 % change Capacity ASKs (in millions) 2.672 4.823 81% 5.876 7.497 27,6% Total available seats (000) 2.870 4.640 62% 6.424 7.848 22% Total Block Hours 29.280 48.768 67% 65.258 79.358 22% Total Sectors Flown 20.095 30.496 52% 44.528 53.40
Slide 27: Building 57, Athens International Airport
Building 57, Athens International Airport, Spata Greece 19019 t. 0030 2103551519 e. investors@aegeanair.com www.aegeanair.com https://en.about.aegeanair.com/investor-relations 27
Slide 28: Disclaimer
Disclaimer Forward Looking Statements Except for historical information, the statements made or information contained in this presentation are forward-looking in nature. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objecti
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