Thai Airways International Public Co. Ltd. · SET:THAI
Thai Airways International Public — Thai Airways International PCL — FY2015 Earnings Presentation
19 slides from Thai Airways International Public's earnings presentation, Mar 1, 2016
Slide 1: Year-2015 analysts briefing
THAI AIRWAYS INTERNATIONAL PCL Year-2015 analysts briefing 1-March-2016 1 Year-2015 analysts briefing
Slide 2: Disclaimer
DISCLAIMER The information contained herein is intended to represent the Company’s operating and financial position at a given point in time and may also contain forward looking information which only reflects expectations based on the prevailing geo-political, economic and non-controllable factors.
Slide 3: Our current fleet
Our current fleet (As of December 2015) 95 Aircraft Aircraft Type No. of Seat Seat Configuration 36 Long-Range Aircraft 6 of A380-800 507 12F/60C/435Y 10 of B747-400 375 10F/40C/325Y 14 of B777-300ER 348 42C/306Y 6 of B777-200ER 292 30C/262Y 37 Medium-Range Aircraft 6 of B777-300 364 34C/330Y 8 of B
Slide 4: Transformation Plan
y ~m& TRANSFORMATION PLAN
Slide 5: Transformation plan
Transformation plan 2015 2015-2016 2017 onward Strength Sustainable Stop bleeding Building Growth 1. Route & Network 1. Aggressive Revenue Generation Transformation Plan 2. Fleet Rationalization 2. Cost management & 3. Commercial Efficiency uplift 4. Operations & Cost Control 3. Improve Capability 5
Slide 6: Financial Performance
y > N FINANCIAL PERFORMANCE
Slide 7: Events
Events Q4-2015 Events 2015 Events Took delivery of 2x A320-200 Took delivery of 8 aircraft :- 3x A320-200, 2x B787-8, 3x B777-300ER Ground 15 aircraft, 8 sold, 10 signed Capacity Change Significant capacity changes • Suspended LAX • suspended : - JNB (15Jan15) • Increased capacity – added day flight
Slide 8: Operations summary
Operations summary improving passenger measures with drop in cargo Q4 Year Unit % % 2014 2015 Change 2014 2015 Change YoY YoY Passenger Production MASK 21,707 21,057 -3.0 82,969 83,479 +0.6 Passenger Traffic MRPK 15,368 15,273 -0.6 57,194 60,893 +6.5 Cabin Factor % 70.8 72.5 +1.7 68.9 72.9 +4.0 Pass
Slide 9: 2015 performance
2015 performance TG only Consolidated Unit : THB’ Billion 2014 2015 2014 2015 Revenues 191 186 191 189 Costs -207 -179 -208 -184 Interest payments -6 -6 -6 -6 Operating Profit -22 1 -23 -1 Impairment loss (1-time) -6 -12 -6 -12 Transformation (1-time) - -4 - -4 FX Gain/Loss +13 +3 +13 +4 Net profit/
Slide 10: 4Q2015 performance
4Q2015 performance Consolidated Unit : THB’ Billion 3Q15 4Q15 4Q14 Revenues 44 51 51 Costs -47 -46 -57 Interest payments -1 -1 -1 Operating Profit -4 3 -7 Impairment loss (1-time) - - -4 Transformation (1-time) - - FX Gain/(Loss) -5 2 3 Net profit/loss*** -10 5 -6 10 Year-2015 analysts briefing
Slide 11: Performance highlight
Performance highlight Q4-15 Performance highlights Revenue flat – pax & cargo yield drop Cost (46bn / 57bn) – MRO cost rationalization One-off item Yield (2.47 / 2.65) – fuel surcharge • FX +2.1bn / +3.2bn Cabin Factor (72.5 / 70.8) Pax (5.4m / 5.3m) increase despite less ASK 2015 Performance highli
Slide 12: 12-Month Performance
12-Month Performance Better operating profit NET PROFIT 2014 2015 -15,573 MB -13,047 MB Operations -1,304 MB +94% Special items -11,743 MB -- Operations -23,019 MB Special items ++ +7,446 MB Special items : 2014 Special items : 2015 • FX +12,623 MB • FX +3,512 MB • Impair -6,342 MB • Impair -12,157
Slide 13: Total Revenue & Total Expense (12-Month)
Total Revenue & Total Expense 12-Month Performance Total Revenue Total Expense BTHB Passenger Cargo Other BTHB Non-fuel Fuel and oil 250.0 250.0 -1.2% -11.4% 208.2 200.0 191.0 188.7 200.0 184.4 12.5 17.6 23.6 79.2 18.6 150.0 150.0 63.2 154.9 152.5 129.0 121.2 100.0 100.0 50.0 50.0 0.0 0.0 2014 2015
Slide 14: Total Revenue & Total Expense (Q4)
Total Revenue & Total Expense Q4 Performance Total Revenue Total Expense BTHB Passenger Cargo Other BTHB Non-fuel Fuel and oil 80.0 80.0 70.0 70.0 -0.6% -18.0% 60.0 60.0 56.7 51.3 51.0 50.0 3.8 50.0 46.5 7.8 20.3 6.1 40.0 4.9 40.0 41.4 17.5 38.3 36.4 30.0 30.0 29.0 20.0 20.0 10.0 10.0 0.0 0.0 Q4' 14
Slide 15: Currency break down
Currency break down Foreign Currency Exposure Liability (Jan - Dec 2015) 31 Dec 15 : 193bn Revenue Expense JPY AUD OTHER CNY 12% 2% 6% ST loan 1% OTHER JPY 8% 27% 2% EUR EUR 4% THB 41% THB 30% 37% THB 32% AUD 5% USD CNY 55% 5% USD USD 7% JPY EUR 9% 8% 9% 15 Year-2015 analysts briefing
Slide 16: Passenger yield & Cabin factor
Passenger yield & Cabin factor THB / RPK C.F. (%) Yield 2014 2.8 100 2.6 95 Yield 2015 2.4 90 2.2 85 2.0 80 Cabin factor 2015 1.8 75 1.6 70 Cabin factor 2014 1.4 65 1.2 60 1.0 55 0.8 50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 16 Year-2015 analysts briefing
Slide 17: Passenger Yield Analysis
Passenger Yield Analysis (THB/RPK) 2014 2015 % Change (2015 Rate) Pax Rev 2.56 2.46 (3.9) FX impact 0.10 - Total Pax Yield 2.66 2.46 (7.5) Passenger Yield by Region (THB/RPK) 2014 2015 % Change Domestic 3.47 2.98 (14.1) Regional 3.04 2.82 (7.2) Intercontinental 2.23 2.03 (9.0) Total system 2.66 2.46
Slide 18: Fuel management
Fuel management Monthly fuel hedging as % of consumption by month 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Q1-13 Q2 Q3 Q4 Q1-14 Q2 Q3 Q4 Q1-15 Q2 Q3 Q4 Jan Apr Jul 16 Oct Jan Apr Jul 17 Oct 16 16 16 17 17 17 18 Year-2015 analysts briefing
Slide 19: Q&A Thank you
Q&A Thank you
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