Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Q4 2010 Earnings Presentation
11 slides from Norwegian Air Shuttle Asa's earnings presentation, 2011
Slide 1: Double digit revenue growth in Q4
Double digit revenue growth in Q4 • Group revenues of MNOK 2,145 in Q4 2010, 23 % growth since last year – Domestic revenue: MNOK 848 (+5 %) – International revenue: MNOK 1,297 (+37 %) Revenues 1,145 1,615 1,750 2,145 Domestic revenue 493 684 804 848 % y.o.y. chg 22 % 39 % 18 % 5% International reve
Slide 2: Slightly negative Q4 operating result following adverse weather and Spanish industrial actions
Slightly negative Q4 operating result following adverse weather and Spanish industrial actions – EBITDAR MNOK + 214 (+205) – EBITDA MNOK + 14 (+50) – Operating profit (EBIT) MNOK - 32 (+ 8) . – Pre-tax profit (EBT) MNOK - 27 (+ 9) – Net profit MNOK - 5 (+ 1) EBITDAR development Q4 EBIT development Q
Slide 3: Full year operating profit of MNOK 210
MNOK 170 ash losses canceled by MNOK 180 SAS compensation Full year operating profit of MNOK 210 – EBITDAR MNOK + 1,175 (+ 1,341) – EBITDA MNOK + 397 (+ 721) – Operating profit (EBIT) MNOK + 210 (+ 572) . – Pre-tax profit (EBT) MNOK + 243 (+ 623) – Net profit MNOK + 189 (+ 446) EBITDAR (full year) E
Slide 4: Group equity improved by MNOK 198 compared to last year
Group equity improved by MNOK 198 compared to last year • Equity unchanged at NOK 1.8 billion at the end of the fourth quarter compared the beginning of the period. • Group equity ratio of 27 % (32 %) Consolidated changes in equity Unaudited YTD 31.12. Year ended Dec 31 (Mill. NOK) 2010 2009 2009 Eq
Slide 5: 13 million passengers in 2010
13 million passengers in 2010 • An increase of 2.3 million passengers (+21 %) Passengers (million) 6.9 9.1 10.8 13.0 Slide: 9 Norwegian with continued strong growth at Oslo Airport 38 % of all passengers traveled with Norwegian in 2010 • Increase of 920,000 passengers at Oslo Airport in 2010 • Norwe
Slide 6: Stronger foothold in domestic and international markets in Q4
Stronger foothold in domestic and international markets in Q4 Oslo Stockholm Copenhagen (Home Base) (Developing Base) (Developing Base) Growth allocated to Finland, Sweden and Denmark going forward Launch of Helsinki base New Stockholm – Malmö & Gothenburg routes • 3 aircraft based in Helsinki start
Slide 7: Unit cost excl. fuel down 10 % in 2010
Unit cost excl. fuel down 10 % in 2010 • Unit cost of 0.46 in 2010 - down 5 % Cost per ASK (CASK) (NOK) 0.53 0.56 0.49 0.46 CASK excl. fuel (NOK) 0.40 0.37 0.38 0.34 Slide: 13 Continuous delivery stream of 737-800s will drive down the unit cost further Norwegian aiming for cost leadership at primary
Slide 8: Large potential for additional cost reductions with Long Haul operations
Large potential for additional cost reductions with Long Haul operations Sources: SAS Group year-end report 2010 & Annual Report 2009, Norwegian Air Shuttle ASA year-end report 2010, Finnair Plc. Year-end report 2010, Ryanair Annual Report 2010, easyJet Annual Report 2010, Air Berlin Annual Report 2
Slide 9: Current planned fleet development
Current planned fleet development • Average Norwegian aircraft 4 years newer compared to last year – Average fleet age currently 7.6 years • Q1 deliveries: – January: 1 – February: 2 – March: 4 17 Product Enhancements On Board WiFi Boeing SKY • Fleet wide 737-800 installation by 2012 • Based on the
Slide 10: Expectations for 2011
Expectations for 2011 • Business environment – Uncertain business climate – Seasonal fluctuations – Strong competition • Production – The company expects a production growth (ASK) of approximately 20 – 25 % – Primarily from increasing the fleet by adding 737-800’s – Capacity deployment depending on
Slide 11: Norwegian Air Shuttle ASA
Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 3 Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA Slide: 21
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