Slide 1: 2016 Final Results Review
2016 FINAL RESULTS REVIEW Information Slides 27 March 2017
Slide 2: Disclaimer
Disclaimer This presentation contains general background information about the activities of BOC Aviation Limited (“BOC Aviation”), current as at the date hereof. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an off
Slide 3: 2016 Overview
2016 OVERVIEW ©) BOC AVIATION 3
Slide 4: 2016 - Another Record Year
2016 - Another Record Year Consistent execution underpins strong earnings1 Robust Balance Sheet 1 US$418 million 22% US$13.4 billion 8% Net profit after tax Total assets US$3.4 billion 39% Driven by: Total equity US$1,193 million 9% US$4.87 18% Total revenues and other income Net assets per share4 U
Slide 5: Stable Global Business and Good Earnings Visibility
Stable Global Business and Good Earnings Visibility Fleet growth underpins lift in revenues Consistent NPAT growth US$ million US$ million 418 1,193 1,091 988 343 919 309 277 731 225 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Sustained core lease rental contribution1 Stable post-tax ROE US$ m
Slide 6: Lease Rental Income Dominates P&L
Lease Rental Income Dominates P&L Lease rental income consistently c.90% of total revenue and other income US$ million Depreciation of aircraft plus financing costs make up >80% of total costs US$ million All data as at 31 December 2016 Note: 1. Comprises depreciation and impairment charges 6
Slide 7: Stable Net Lease Yield Drives Profitability
Stable Net Lease Yield Drives Profitability Higher lease rate factor1 reflects rising int. rates ...which also affected finance expenses3 10.3% 2.5% 1.9% 1.9% 2.0% 9.9% 1.8% 9.8% 9.7% 9.5% 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Proportion of fixed rate leases rising2 Net lease yield4 was
Slide 8: Our Portfolio Remains Well Diversified
Our Portfolio Remains Well Diversified Lease portfolio diversified by customer1,4 …and diversified by geography4 High collection rate High fleet utilization5 98.5% 99.4% 100.9% 99.8% 97.2% 100.4% 99.9% 100.4% 99.8% 100.0% 100.0% 100.0% 100.0% 99.8% 99.0% 99.9% 100.0% 99.9% 100% 80% Average = 99.8% A
Slide 9: Long-term, Stable and Contracted USD Cash Flows
Long-term, Stable and Contracted USD Cash Flows Well-dispersed lease expiries1,2 Proportion of fixed rate leases rising3 By net book value 56% 46% 73% 74% 65% 44% 54% 27% 26% 35% 2012 2013 2014 2015 2016 Fixed rate Floating rate A long average remaining lease term Proportion of fixed rate debt4 also
Slide 10: Debt Profile
Debt Profile Sources of debt Outstanding debt balances BOC US$ billion BOC 3% 10% 1 ECA 1 8 ECA 14% 16% 6 Loans Loans 32% 38% 4 Bonds 2 Bonds 51% 36% 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Total loans outstanding Total bonds outstanding Increasing unsecured funding Debt repaym
Slide 11: Our Fleet
Our Fleet Our Aircraft Portfolio Aircraft Type Owned Aircraft Managed Aircraft Aircraft on Order1 Total Airbus A320CEO family 122 13 27 162 Airbus A320NEO family 0 0 64 64 Airbus A330 family 11 7 2 20 Airbus A350-900 0 0 6 6 Boeing 737NG family 83 9 37 129 Boeing 737-MAX 8 0 0 61 61 Boeing 777-300ER
Slide 12: Orderbook Underpins Future Balance Sheet Growth
Orderbook Underpins Future Balance Sheet Growth Growing balance sheet Committed deliveries of 199 aircraft till 2021 US$ billion Number of aircraft 13.4 12.5 11.4 10.1 2.7 9.1 1.5 2.8 1.0 1.6 11 9.1 9.9 9.7 10.7 7.5 2012 2013 2014 2015 2016 Aircraft NBV Other assets Fleet NBV evolution Premium over
Slide 13: Value Driven by Fleet and Committed Lease Revenues
Value Driven by Fleet and Committed Lease Revenues Net Book Value understates business value Committed revenues of >US$12 billion US$ billion US$ billion ? Committed future lease revenues create additional value today All data as of 31 December 2016 Note: 1. Based on an average of five independent a
Slide 14: Where We Have Added Value Since IPO
Where We Have Added Value Since IPO • Orderbook additions for future revenue growth Ordered 29 new aircraft1 12 Airbus A320 family aircraft 17 Boeing 737 aircraft Purchase-and-leaseback (‘PLB”) for five new twin-aisle aircraft, all delivered to Air China in 4Q2016 PLB for six new twin-aisl
Slide 15: Where We Will Create Value Going Forward
Where We Will Create Value Going Forward • Another year of record activity in 2017 2017 will be our largest year of aircraft deliveries, driving further balance sheet growth More than 75 aircraft scheduled to be delivered1 • Capitalise on healthy air traffic demand2 Air traffic continues to ex
Slide 16: www.bocaviation.com
www.bocaviation.com BOC Aviation Limited 8 Shenton Way #18-01 Singapore 068811 Phone +65 6323 5559 Facsimile +65 6323 6962 Incorporated in the Republic of Singapore with limited liability Company Registration No. 199307789K 16