Slide 1: Second Quarter 2017 Financial Results
Second Quarter 2017 Financial Results August 3, 2017 AerCap Holdings N.V.
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 not rely upon forward-looking statements as a prediction of actual results respect to future performance and events. These statements, estimates and we do not assume
Slide 3: AerCap Investment Case
AerCap Investment Case AerCap is the global leader in aircraft leasing Resilient industry fundamentals Global platform with unmatched breadth and reach Strong earnings and cash flow generation Disciplined portfolio management Strong liquidity and access to capital Prudent hedging strategies to mitig
Slide 4: 2Q 2017 Financial Results and Highlights
2Q 2017 Financial Results and Highlights Financial Results Highlights • 108 aircraft transactions, including 25 widebody Net Income transactions 2Q 1H • 99.5% fleet utilization ($ million) 2017 2017 • $9 billion of available liquidity Net Income 282.9 544.1 • 2.7 to 1 adjusted debt/equity ratio • $5
Slide 5: Net Income
Net Income ($ million) 2Q 2017 2Q 2016 1H 2017 1H 2016 Net Income 282.9 233.3 544.1 456.4 Key Highlights • For 2Q 2017, net income increased 21% year over year, primarily driven by higher net gain on sale of assets, higher maintenance rents and lower maintenance rights expense Components of Net Inco
Slide 6: Earnings Per Share
Earnings Per Share ($) 2Q 2017 2Q 2016 1H 2017 1H 2016 Diluted Earnings Per Share 1.67 1.22 3.15 2.35 Key Highlights • For 2Q 2017, diluted earnings per share increased 37% year over year, impacted by the same factors as net income as well as the repurchase of 32.7 million shares for $1.4 billion fr
Slide 7: Book Value Per Share
Book Value Per Share ($ million except share data) Jun. 30, 2017 Dec. 31, 2016 Jun. 30, 2016 Total Shareholders’ Equity $8,521 $8,524 $8,352 Ordinary Shares Outstanding 163.4 176.2 187.8 Unvested Restricted Stock (2.8) (3.4) (3.3) Ordinary Shares Outstanding 160.6 172.8 184.5 (excl. Unvested Restric
Slide 8: Revenues and Other Income
Revenues and Other Income ($ million) 2Q 2017 2Q 2016 Basic Lease Rents 1,053.5 1,106.3 Maintenance Rents and Other Receipts 104.1 70.9 Net Gain on Sale of Assets 69.5 38.4 Other Income 36.7 23.9 Total Revenues and Other Income 1,263.8 1,239.5 • Basic lease rents decreased primarily due to the sale
Slide 9: Net Interest Margin (Net Spread)
Net Interest Margin (Net Spread) Net Interest Margin ($ million) 2Q 2017 2Q 2016 2Q 2017 2Q 2016 Annualized Net Spread 9.3% 9.5% 787.5 833.2 Average Cost of Debt1 Net Interest Margin is calculated as basic lease Including all fees 3.9% 3.7% rents less interest expense, excluding the non-cash charges
Slide 10: Aircraft Disposals and Purchases
Aircraft Disposals and Purchases ($ million) 2Q 2017 2Q 2016 Net Gain on Sale of Assets 69.5 38.4 2Q 2017 Disposal Activity: • 24 aircraft, with an average age of 16 years, were sold from our owned portfolio: • 2 Airbus A319-100s, 6 Airbus A320-200s, 1 Airbus A321-100, 3 Airbus A321-200s, 2 Airbus A
Slide 11: Other Expenses
Other Expenses ($ million) 2Q 2017 2Q 2016 Maintenance Rights Expense 90.1 106.6 Other Leasing Costs 46.2 36.5 Selling, General & Administrative Expenses 84.6 86.5 Asset Impairment 5.3 10.5 Restructuring Related Expenses 4.7 3.5 • Maintenance rights expense in 2Q 2017 decreased as a result of the am
Slide 12: Liquidity Position
Liquidity Position Sources vs. Uses (Next 12 Months) Liquidity Levels Since July 2014 ($ billion as of June 30, 2017) ($ billion) Sources (for 12 months to June 30, 2018) 10.5 10.0 3.0x Unsecured Revolver 3.7 9.5 9.5 9.2 2.8x 9.1 9.0 9.0 Other Facilities and Contracted Sales 3.7 9.0 2.6x Unrestricte
Slide 13: Q&A
GLOBAL LEADER IN AVIATIO Q&A DUBLIN | AMSTERDAM | LOS ANGELES | SHANNON | FORT LAUDERDALE | SINGAPORE | SHANGHAI | ABU DHABI | SEATTLE | TOULOUSE ‘AERCAP.COM
Slide 14: Supplemental Information
Supplemental Information DUBLIN | AMSTERDAM | LOS ANGELES | SHANNON | FORT LAUDERDALE | SINGAPORE | SHANGHAI | ABU DHABI | SEATTLE | TOULOUSE ‘AERCAP.COM
Slide 15: Capital Structure
Capital Structure Summary Jun. 30, 2017 Dec. 31, 2016 Adjusted Debt / Equity Ratio 2.7 to 1 2.7 to 1 Adjusted Debt/Equity Calculation ($ million) Jun. 30, 2017 Dec. 31, 2016 Debt (including fair value adjustments) 27,181 27,717 Adjusted for: • Unrestricted cash & cash equivalents (1,601) (2,035) • 5
Slide 16: High Quality and Well Diversified Portfolio as of June 30, 2017
High Quality and Well Diversified Portfolio as of June 30, 2017 Number of Number of % Net Number of Total Aircraft Type Managed & Owned Aircraft Book Value on Order Aircraft Aircraft AerDragon Aircraft Airbus A320 Family 390 24 50 − 440 Airbus A320neo Family 31 5 − 189 220 Airbus A330 90 12 10 − 100
Slide 17: Forward Order and Purchase/Leasebacks as of June 30, 2017
Forward Order and Purchase/Leasebacks as of June 30, 2017 Remaining Aircraft Type 2018 2019 2020 2021 Thereafter Total 2017 Airbus A320neo Family 32 39 48 40 30 − 189 Airbus A350 8 4 2 − − − 14 Boeing 737MAX − 3 24 27 28 27 109 Boeing 787 14 13 6 2 2 − 37 Embraer E190 / 195-E2 − 5 14 14 14 3 50 Tota
Slide 18: AerCap Holdings N.V. contact details
AerCap Holdings N.V. AerCap House 65 St. Stephen’s Green Dublin 2, Ireland +353 1 819 2010 contact@aercap.com Follow us on