Slide 1: Second Quarter 2018 Financial Results
Second Quarter 2018 Financial Results July 30, 2018 AerCap Holdings N.V.
Slide 2: Disclaimer Incl. Forward Looking Statements & Safe Harbor
Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with not rely upon forward-looking statements as a prediction of actual results respect to future performance and events. These statements, estimates and we do not assume
Slide 3: AerCap Investment Case
AerCap Investment Case AerCap is the global leader in aircraft leasing Resilient industry fundamentals Global platform with unmatched breadth, reach and capabilities Strong earnings and cash flow generation Attractive order book and disciplined portfolio management Strong liquidity and access to cap
Slide 4: 2Q 2018 Financial Results and Highlights
2Q 2018 Financial Results and Highlights Financial Results Highlights Net Income • 90 aircraft transactions, including 17 widebody transactions 2Q 1H • 20 aircraft purchased for $1.5 billion ($ million) 2018 2018 Net Income 254.2 519.6 • 6.6 years average age of owned fleet • 7.1 years average remai
Slide 5: Net Income and Earnings Per Share
Net Income and Earnings Per Share 2Q 2018 2Q 2017 1H 2018 1H 2017 Net Income ($ million) 254.2 282.9 519.6 544.1 Diluted Earnings Per Share ($) 1.70 1.67 3.42 3.15 Key Highlights • Decrease in net income was primarily due to lower other income as well as lower gain on sale of assets. In 2Q 2017, oth
Slide 6: Book Value Per Share
Book Value Per Share (millions, except per share data) Jun. 30, 2018 Jun. 30, 2017 Total Shareholders’ Equity $8,669 $8,521 Ordinary Shares Outstanding 148.4 163.4 Unvested Restricted Stock (2.1) (2.8) Ordinary Shares Outstanding 146.3 160.6 (excl. Unvested Restricted Stock) Book Value Per Share1 $5
Slide 7: Revenues and Other Income
Revenues and Other Income ($ million) 2Q 2018 2Q 2017 Basic Lease Rents 1,023.1 1,053.5 Maintenance Rents and Other Receipts 107.9 104.1 Net Gain on Sale of Assets 51.2 69.5 Other Income 12.4 36.7 Total Revenues and Other Income 1,194.6 1,263.8 • Basic lease rents decreased primarily due to the sale
Slide 8: Net Interest Margin (Net Spread)
Net Interest Margin (Net Spread) ($ million) 2Q 2018 2Q 2017 Net Interest Margin (Net Spread)1 733.7 787.5 Average Lease Assets2 34,897 34,047 Annualized Net Spread 8.4% 9.3% Average Cost of Debt3 4.1% 3.9% Including all fees Average Age of Owned Fleet (years) 6.6 7.3 Average Remaining Lease Term (y
Slide 9: Aircraft Disposals and Purchases
Aircraft Disposals and Purchases ($ million) 2Q 2018 2Q 2017 Net Gain on Sale of Assets 51.2 69.5 2Q 2018 Aircraft Disposal Activity: • 30 aircraft, with an average age of 13 years, were sold from our owned portfolio: • 21 Airbus A320 Family aircraft, 1 Airbus A330 and 1 Airbus A340 • 5 Boeing 737NG
Slide 10: Other Expenses
Other Expenses ($ million) 2Q 2018 2Q 2017 Maintenance Rights Expense 34.9 90.1 Other Leasing Costs 68.4 46.2 Selling, General & Administrative Expenses 85.3 84.6 Asset Impairment 14.0 5.3 Restructuring Related Expenses − 4.7 • Maintenance rights expense decreased as a result of lower maintenance ac
Slide 11: Liquidity Position
Liquidity Position Sources vs. Uses (Next 12 Months) Liquidity Levels Over the Last 8 Quarters ($ billion as of June 30, 2018) ($ billion) Sources (for 12 months to June 30, 2019) 11.7 12.0 3.5x Unsecured Revolver 4.0 10.8 3.3x Other Facilities and Contracted Sales 6.1 3.1x 10.5 9.5 9.5 9.6 2.9x Unr
Slide 12: Q&A
GLOBAL LEADER IN AVIATIO Q&A DUBLIN | SHANNON | LOS ANGELES | SINGAPORE | AMSTERDAM | FORT LAUDERDALE | SHANGHAI | ABU DHABI | SEATTLE | TOULOUSE ‘AERCAP.COM
Slide 13: Supplemental Information
Supplemental Information DUBLIN | SHANNON | LOS ANGELES | SINGAPORE | AMSTERDAM | FORT LAUDERDALE | SHANGHAI | ABU DHABI | SEATTLE | TOULOUSE ‘AERCAP.COM
Slide 14: Capital Structure
Capital Structure Summary Jun. 30, 2018 Dec. 31, 2017 Adjusted Debt / Equity Ratio 2.8 to 1 2.8 to 1 Adjusted Debt/Equity Calculation ($ million) Jun. 30, 2018 Dec. 31, 2017 Debt (including fair value adjustments) 28,546 28,421 Adjusted for: • Unrestricted cash & cash equivalents (1,599) (1,660) • 5
Slide 15: High Quality and Well Diversified Portfolio as of June 30, 2018
High Quality and Well Diversified Portfolio as of June 30, 2018 Number of % Net Number of Number of Total Aircraft Type Owned Aircraft Book Value Managed Aircraft on Order Aircraft Aircraft Airbus A320 Family 338 19 50 − 388 Airbus A320neo Family 65 9 − 205 270 Airbus A330 77 10 11 − 88 Airbus A350
Slide 16: Forward Order and Purchase/Leasebacks as of June 30, 2018
Forward Order and Purchase/Leasebacks as of June 30, 2018 Aircraft Type 2018 2019 2020 2021 2022 Thereafter Total Airbus A320neo Family 34 42 49 30 25 25 205 Airbus A350 4 2 − − − − 6 Boeing 737MAX 5 17 27 28 27 − 104 Boeing 787 6 12 7 6 6 9 46 Embraer E190 / 195-E2 1 14 14 14 7 − 50 Total Aircraft
Slide 17: Endnotes
Endnotes SLIDE 6: Book Value per Share 1. Based on ordinary shares outstanding excluding unvested restricted stock. Unvested restricted stock represents ordinary share units issued under our share incentive schemes that vest only upon the satisfaction of certain conditions. SLIDE 8: Net interest Mar
Slide 18: AerCap Holdings N.V. contact details
AerCap Holdings N.V. AerCap House 65 St. Stephen’s Green Dublin 2, Ireland +353 1 819 2010 contact@aercap.com Follow us on