Slide 1: Q1 2020 Analyst & investor presentation
Q1 2020 Analyst & investor presentation 21 January 2020
Slide 2: Q1 performance – momentum continues
Q1 performance – momentum continues 1. Strong revenue trend • Revenue initiatives delivering • Robust demand across Europe, low competitor capacity growth in the market • Upgrade to RPS guidance 2. Underlying cost performance as expected • Delivering on cost programme • No change to full year guidan
Slide 3: Q1 key stats
Q1 key stats Q1 ‘20 Q1 ’19 Change Favourable/(adverse) Passengers (m) 22.2 21.6 2.8% Load factor (%) 91.3% 89.7% 1.6ppts Seats (m) 24.3 24.1 1.0% Average sector length (km) 1,106 1,079 2.6% Passenger revenue (£m) 1,124 1,025 9.7% Ancillary revenue (£m) 301 272 10.8% Total revenue (£m) 1,425 1,296 9.
Slide 4: Q1 Revenue performance
Q1 Revenue performance Reported RPS +8.7% RPS @ CC +8.8% +5.3% £58.63 (£0.07) £58.56 £2.87 +2.0% £1.08 +1.5% £0.79 £53.89 Q1 2019 Reported Thomas Cook Ancillary Underlying Trading Q1 2020 @ CC FX Q1 2020 Reported Administration 4
Slide 5: Cost performance
Cost performance Q1 2020 Q1 2020 Headline Reported Constant currency 3.0% 2.6% Cost per seat including fuel Increase Increase 2.6% 4.3% Cost per seat excluding fuel Increase Increase Increases driven by: Offset by: • Lower capacity growth • Continued focus on cost, including Operational Resilience p
Slide 6: Fuel and foreign exchange hedging
Fuel and foreign exchange hedging Fuel requirement US dollar requirement Euro Surplus Six months to 31 March 2020 76% @ $631/MT 74% @ 1.35 75% @ 1.11 Full year ending 30 September 2020 71% @ $654/MT 70% @ 1.35 74% @ 1.11 Full year ending 30 September 2021 51% @ $638/MT 53% @ 1.31 61% @ 1.11 6 Operat
Slide 7: Forward bookings
forward bookings H1 2019 H1 2020 90% 91% 85% 82% 74% 75% 56% 57% 58% 55% 38% 38% Q1 Jan Feb Mar Q2 H1 7 H1 2020 (Oct 2019 to Mar 2020) as at 18 Jan 2020
Slide 8: H1 capacity outlook
H1 capacity outlook 14.5% H1 FY19 H1 FY20 6.9% 5.4% 3.6% 1.5% 0.2% 0.5% (0.2%) Capacity change total short Competitors on Capacity change easyJet capacity change haul market easyJet markets easyJet markets 8 H1 2020 (Oct 2019 to Mar 2020) as at 10 Jan 2020
Slide 9: Sustainability
Sustainability Background Positive customer reaction • Strategy launched in November to take immediate • Those who have flown since the announcement, action on carbon emissions and are aware of the policy, are 7ppts more • Continued focus on driving efficiency satisfied with their experience than th
Slide 10: easyJet holidays - successfully launched
easyJet holidays - sUCCESSFULLY LAUNCHED • Successful launch on 28 November 2019 • with c700 directly contracted hotels • to over 100 destinations • 85% of customers cite great value, hotel choice and website ease of use as the primary driver of booking • 50% of bookings to directly contracted hotel
Slide 11: Outlook
Outlook Items in orange denote updated guidance Capacity (seats flown) FX / Fuel* > H1 c. 1.5% increase > FY: c.£70 million positive movement from > FY c. 3% increase foreign exchange rates on headline PBT > Circa £25m of this positive movement is part of the Revenue per seat at constant currency to
Slide 12: Appendix
Appendix
Slide 13: Q1 Passenger statistics
Q1 Passenger statistics October 2020 2019 Change Passengers(m) 8.8 8.6 2.4% Load Factor 91.6% 90.5% 1.1ppts November 2020 2019 Change Passengers(m) 6.2 6.2 (0.3%) Load Factor 90.8% 89.2% 1.6ppts December 2020 2019 Change Passengers(m) 7.2 6.8 6.0% Load Factor 91.3% 89.2% 2.1ppts 13 13