Aercap Holdings N.v. · NYSE:AER
Aercap — Q2 2022 Earnings Presentation
19 slides from Aercap's earnings presentation, Aug 11, 2022
Slide 1: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results AerCap Holdings N.V. August 11 , 2022 The picture can't be displayed. The picture can't be displayed.
Slide 2: Disclaimer Incl. Forward Looking Statements & Safe Harbor
Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with Further information regarding these and other risks is included in AerCap's respect to future performance and events. These statements, estimates and annual report on
Slide 3: Key Highlights
Key Highlights Travel recovery broadening globally, supporting demand for aircraft across all regions Supply constraints likely to persist for foreseeable future, supporting leasing demand Earnings, cash flow and balance sheet remain strong, underpinning our guidance for the year 3 The picture can't
Slide 4: Demand Increasing in All Regions
Demand Increasing in All Regions Global passenger numbers increased in all major markets in the last three months Total Daily Flights by Region Global passenger traffic 30,000 continues to increase with 26,000 ~75,000 daily flights from these 25,000 four regions alone, up 11,000 22,000 flights a d
Slide 5: Growing Number of Countries Reopening
Growing Number of Countries Reopening Relaxation of restrictions is allowing traffic growth to normalize around the world Number of countries where traffic exceeds 80% of 2019 levels There has been significant 180 progress in the reopening of 159 160 160 150 borders in recent months 145 139 140 13
Slide 6: Aircraft Supply Issues Likely to Persist
Aircraft Supply Issues Likely to Persist A number of supply chain issues will continue to constrain aircraft production over the next few years Airframe OEMs have set aggressive However, new engines are coming off targets for production rate increases wing much earlier than expected 1 Production Eng
Slide 7: New Business Lines Performing Well
New Business Lines Performing Well Engines, Cargo and Helicopter businesses are contributing strongly World’s largest engine leasing company, with over Global leader with a fleet of >100 aircraft owned, World’s largest helicopter leasing company with 900 owned and managed engines serviced or committ
Slide 8: 2Q 2022 Net Income Walk
2Q 2022 Net Income Walk 2Q 2022 Adjusted Net Income Net income of $340 million, or $1.40 per share ($ million) Increase Decrease Adjusted net income of $464 million, or $1.91 per share Purchase accounting adjustments include: 9 (18) – $52 million related to lease 132 464 premium amortization a
Slide 9: 2Q 2022 Financial Drivers
2Q 2022 Financial Drivers Basic lease rents were $1,462 million, and were favorably impacted by strong cash collections, but negatively impacted by the loss of revenues from Russian aircraft and $52 million of lease premium amortization Maintenance revenues were $103 million, and were negatively
Slide 10: Strong Liquidity Position
Strong Liquidity Position Next 12 months’ sources-to-uses coverage of 2.1x, with ~$17 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of June 30, 2022) Leverage ratio of 2.8x as of June 30, ($ billion) 18.0 2022 16.5 15.0 ~$5 2Q 2022 operating cash flow of $1.2 13.5 Excess bil
Slide 11: Q&A
Q&A The picture can't be displayed. The picture can't be displayed.
Slide 12: Supplemental Information
Supplemental Information The picture can't be displayed. The picture can't be displayed.
Slide 13: 2Q 2022 Adjusted Net Income and EPS
2Q 2022 Adjusted Net Income and EPS Earnings Per ($ million, except per share amounts) Net Income Share ($) Net Earnings Per Share 340 1.40 Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase Accounting1 132 0.55 Transaction and Integration-related Expenses 9 0.
Slide 14: Book Value Per Share
Book Value Per Share Book value per share of $62.43 as of June 30, 2022 (millions, except per share data) June 30, 2022 Total Shareholders’ Equity $15,034 Ordinary Shares Outstanding 245.8 Unvested Restricted Stock (5.0) Ordinary Shares Outstanding (excl. Unvested Restricted Stock) 240.8 Book Value
Slide 15: Capital Structure
Capital Structure Adjusted Debt/Equity Calculation ($ million) June 30, 2022 Dec. 31, 2021 Debt (including fair value adjustments) 47,928 50,205 Adjusted for: Unrestricted cash & cash equivalents (1,229) (1,729) 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 45,5
Slide 16: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise ~64% of aircraft fleet Number of Assets % Net Number of Assets Number of Assets Aircraft Type Total Assets Owned Book Value Managed On Order Airbus A220 Family 3 0% 2 8 13 Airbus A320 Family 476 11% 71 − 547 Airbus A320neo
Slide 17: Forward Orders and Purchase/Leasebacks
Forward Orders and Purchase/Leasebacks Aircraft Type 2022 2023 2024 2025 2026 Thereafter Total Airbus A220 Family 5 3 - - - - 8 Airbus A320neo Family 29 64 53 55 28 17 246 Airbus A330neo Family 1 5 6 - - - 12 Boeing 737 MAX 2 14 34 40 41 - 131 Boeing 787 1 5 11 4 5 - 26 Embraer E190 / 195-E2 5 - 11
Slide 18: Endnotes
Endnotes SLIDE 4: Demand Increasing In All Regions Flight Data: Cirium, as of August 8, 2022. SLIDE 5: Growing Number of Countries Re-Opening Cirium Flight Schedules as of July 31, 2022. SLIDE 8 : 2Q 2022 Net Income Walk Purchase accounting adjustments consist of the amortization of maintenance righ
Slide 19: AerCap House, 65 St Stephens Green, Dublin
AerCap House T: +353 1 819 2010 65 St Stephens Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland The picture can't be displayed. The picture can't be displayed.