Norwegian Air Shuttle Asa · OSL:NAS

Norwegian Air Shuttle Asa — Q4 2009 Earnings Presentation

10 slides from Norwegian Air Shuttle Asa's earnings presentation, Feb 11, 2010

  1. Slide 1: Norwegian Air Shuttle ASA 4th Quarter Presentation

    Norwegian Air Shuttle ASA 4th Quarter Presentation February 11th 2010 Bjø Bjørn Kjos – CEO • Group revenues of MNOK 1,750 in Q4 2009, 8 % growth since last year – Domestic Revenue: MNOK 804 (+ 18%) – International Revenue: MNOK 946 (+ 2%) + 8% MNOK 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 Q4

  2. Slide 2: EBITDAR and EBITDA improved; annual turnover MNOK 7,309

    • EBITDAR MNOK 205 - improved by MNOK 250 • EBITDA MNOK 50 - improved by MNOK 219 • EBT MNOK 9 - improved by MNOK 206 • Net profit MNOK 1 – improved by MNOK 138 EBITDAR development Q4 EBITDA development Q4 MNOK 250 MNOK 250 200 200 150 150 +205 100 100 50 50 +33 +50 +32 0 0 -19 -36 -45 -50 -50 -169

  3. Slide 3: Annual EBITDA improved by MNOK 929; cash flows

    • Annual operating result (EBITDA) improved by MNOK 929 • 10% operating margin MNOK 750 550 350 +721 150 +208 +21 -50 -208 -250 2006 2007 2008 2009 EBITDA (MNOK) 21 208 -208 721 EBT (MNOK) -32 113 5 623 EBITDA margin 1% 5% -3 % 10 % !"#$%& • Cash Flows from Operations in Q4 2009 MNOK +353 (-133) – I

  4. Slide 4: Equity increased to MNOK 1,602; load factor 78%

    • Equity increased from MNOK 897 at the beginning of 2009 to MNOK 1,602 at the end of Q4 • Group equity ratio of 32% • Return on equity (ROE) 36% "## $ ! % % "%' ( ! ) * "%' ' &$'&#()# * * * ' $&( • 78 % load factor in 2009 – down one percentage point from last year – More domestic and business prod

  5. Slide 5: Passenger growth in 2009

    $)&* +,$&(- +18 % 10.0 8.0 6.0 4.0 2.0 0.0 2006 2007 2008 2009 Passengers (mill) 5.1 6.9 9.1 10.8 ' * ". OSL all airlines OSL Norwegian only • - 6 % in 2009 • + 15 % in 2009 Total Pax OSL Norw egian Pax OSL Passengers Passengers 6,000,000 1,800,000 5,500,000 + 16 % 1,600,000 5,000,000 1,400,000 4,50

  6. Slide 6: Unit cost of 0.49 in 2009

    * / * * / 0 $1( • Unit cost of 0.49 in 2009 – Down 13 % since last year • Unit cost ex. fuel & ccy effects was 0.36 – Down 4 % since last year • USD/NOK + 12 % • EUR/NOK + 6 % • Unit cost down despite 2 % shorter average flying distance NOK 0.60 0.56 0.55 0.55 0.53 0.50 0.49 0.13 0.13 0.19 Fuel shar

  7. Slide 7: Ancillary revenue comprises 12% of Q4 revenue

    2 * 34 ( Sources: SAS Group year-end report 2009, Norwegian Air Shuttle ASA year-end report 2009, Ryanair Annual Report 2009, easyJet Annual Report 2009 and Norwegian’s estimations • CASK (Cost per available seat kilometer) is an industry-wide cost level indicator which is calculated by dividing ope

  8. Slide 8: Available seats and planned investments

    5 5152&$ 34 * • ASK Growth 2010 estimated at 30% • Delivery of 13 new Boeing 737-800 directly from Boeing in 2010 • 42 options for additional B737-800 (no firm allocation of production slots) 25,000 117 20,000 106 Available seats 86 15,000 738 Options not called 75 75 738 Ow ned 68 66 738 Leased 58

  9. Slide 9: Outlook: Business Environment, Production, Cost Development

    34 $ • Business Environment – Uncertain business climate – Seasonal fluctuations • Production – The company expects a production growth (ASK) of 30% – Primarily by replacing Boeing 737-300s with Boeing 737-800s – Capacity deployment depending on development in the overall economy and marketplace • C

  10. Slide 10: Norwegian Air Shuttle ASA

    Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 10A Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA

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