Capital A Berhad · MYX:CAPITALA
Capital A Berhad — Q2 2025 Earnings Presentation
30 slides from Capital A Berhad's earnings presentation, September 2025
Slide 1: 2Q2025 Financial Results
2Q2025 Financial Results © 2025 Capital A. All rights reserved.
Slide 2: Forward-Looking Statements and Non-MFRS Financial Information
FORWARD-LOOKING STATEMENTS AND NON-MFRS FINANCIAL INFORMATION This presentation includes forward-looking statements regarding future performance and events. These statements are based on various assumptions and expectations and may include projections of our future financial performance and anticipa
Slide 3: Notes
Notes For this presentation, Capital A results will be segmented into: ● Aviation business, referred to as AirAsia Group ● Non-aviation businesses, referred to as Capital A Companies The Bursa announcement follows MFRS 5 reporting, where the results are split between Continuing and Discontinuing Ope
Slide 4: Executive summary
Executive summary Capital A recorded over RM1 bil in EBITDA and RM670mil in NOP in seasonally weak quarter ● A substantial improvement from RM735 mil in EBITDA and RM51 mil in NOP in 2Q24, despite aircraft reactivation and ongoing restructuring Corporate exercises on track to complete within the yea
Slide 5: Capital A financial highlights
Capital A financial highlights NOP up nearly 13x YoY on flat revenue despite low season and minimal marketing spend Revenue EBITDA RM million RM million 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 NOP PAT RM million RM million 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 NB: Here, the Aviation segment has not been presented as
Slide 6: Corporate exercises are in their final phase
Corporate exercises are in their final phase Aviation disposal delayed but still on track to be completed by year-end Aviation disposal 28 Aug Consent letter from lenders (5 signed) Thai SEC 2nd round submission ongoing 22 Sep Secure Thai SEC approval 29 Sep Obtain remaining consent letters RM1 bil
Slide 7: AirAsia Aviation
AIRASIA AVIATION
Slide 8: Aviation Key Highlights
Aviation Key Highlights Resilient operations in a softer non-peak quarter Revenue lower 3% YoY on weaker Thailand demand. Excluding Thailand, revenue was up 2% YoY. ⬥ Steady 82% load factor, while capacity recovered to 86% of pre-pandemic levels as we added 8% capacity YoY to gain market share. This
Slide 9: Aviation Key Highlights
Aviation Key Highlights Resilient operations in a softer non-peak quarter Nonetheless, EBITDA and NOP margins expanded by 6 ppts and 2 ppts, supported by ancillary growth, lower fuel price, cost efficiency and stronger Asean currencies. ⬥ Achieved EBITDA margin of 21% ⬥ Lower RASK offset by larger r
Slide 10: 3% increase in ancillary revenue
3% increase in ancillary revenue Ancillary per pax increased by 2% YoY to RM51 due to strong baggage and seats uptake Ancillary Revenue (RM mil) Ancillary Revenue breakdown Fees & Others Cargo Insurance 0.1% Inflight meals 2% ⬥ Ancillary revenue increased 3% to RM847 mil, making up 19% of 2Q25 aviat
Slide 11: Operating CASK decreased 9% YoY
Operating CASK decreased 9% YoY CASK will continue to reduce as we reactivate non-operational aircraft ⬥ Excluding non-operating aircraft costs, operating CASK was USc4.31, which was 9% lower YoY ⬥ On a per ASK basis, this is led by lower fuel costs (USc0.28/ -15%), followed by lower maintenance and
Slide 12: Ongoing fleet reactivation set to drive further capacity growth
Ongoing fleet reactivation set to drive further capacity growth 100% aircraft available for operations by year end, ensuring sustained operational reliability New deliveries 1 1 0 0 ⬥ 1 aircraft received in 2Q25. No new deliveries expected in 2H25 Redeliveries 0 0 5 1 ⬥ Targeting 5 redeliveries in 3
Slide 13: Aviation Business Outlook
Aviation Business Outlook Well-positioned for a robust 2H25 Demand ⬥ 4Q to be our strongest quarter. Forward bookings indicated continued growth momentum ⬥ Sustained demand momentum in 2H2025, driven by peak summer period in North Asia, regional festivities and long weekends in Malaysia and other co
Slide 14: Capital A Companies
CAPITAL A COMPANIES
Slide 15: Capital A Companies financial highlights
Capital A Companies financial highlights Operational revenue and profits outperformed 2Q24 Revenue EBITDA NOP PAT RM RM RM RM 740 mil 117 mil 44 mil 39 mil 10% YoY 79% YoY 9.2x YoY -4% YoY Tax reversal resulting stronger PAT in 2Q24 NB: Refer to Bursa announcement for elimination reconciliation. 15
Slide 16: Six high-growth Capital A Companies
Six high-growth Capital A Companies All positive NOP, except BigPay which is on its way to be EBITDA positive in 4Q * ** Recorded 11% NOP Profitable at 6% Breakeven NOP in Healthy 80% NOP Impressive 23% Net operating margin, back to NOP margin volatile and NOP margin due to losses narrowed, double-d
Slide 17: Asia Digital Engineering (ADE) financial highlights
Asia Digital Engineering (ADE) financial highlights Record high quarterly EBITDA and NOP margin at 25% and 11% respectively RM million (pre-elimination) ● Revenue up 26% YoY, driven by improvement across all segments, with notable growth in: - Line maintenance - more over-and-above and ad hoc servic
Slide 18: Asia Digital Engineering (ADE) business outlook
Asia Digital Engineering (ADE) business outlook Immediate plan is still very much focus on capability and capacity building Base Maintenance ● Senai hangar - the lease with Senai airport is being renewed. Initial plan to convert the two lines into paint facility is being reconsidered Workshop ● Nila
Slide 19: AirAsia MOVE financial highlights
AirAsia MOVE financial highlights Decline due to lower sales of AirAsia seats and weak domestic yield, but other LOBs are holding up ● Revenue declined YoY due to; RM million (pre-elimination) - Lower share of AirAsia seats sold due to competitive pricing and shift in travel mix towards domestic tra
Slide 20: AirAsia MOVE business outlook
AirAsia MOVE business outlook Driving growth through an enhanced user experience and cost-efficient marketing Marketing ● Pivoting to a more cost-effective marketing strategy, with a focus on amplifying social media and PR content to drive organic, viral growth ● Implementing hyper-personalisation f
Slide 21: Teleport financial highlights
Teleport financial highlights Performance improved YoY and remained flat vs prior quarter RM million (pre-elimination) ● 13% YoY revenue increase despite operational headwinds (21% YoY on a constant-currency basis) - Growth driven by focus on eCommerce, which recorded, 52% YoY growth to RM87 million
Slide 22: Teleport business outlook
Teleport business outlook Expect stronger performance in 3Q25, anchored by operational resilience and ramp up towards year-end peak season Maximise peak season profitability ● Teleport to capture early commitments from key eCommerce clients looking to secure capacity ahead of the traditional Q4 peak
Slide 23: Abc Digital financial highlights
Abc Digital financial highlights High NOP margin at ~80% before forex losses; more licensing opportunities in the pipeline RM million (pre-elimination) ● Flattish revenue YoY, in line with airline revenue trend ● 79% EBITDA and NOP margin, slipped 4ppts YoY due to rising staff, marketing and other o
Slide 24: Santan and BigPay financial highlights and outlook
Santan and BigPay financial highlights and outlook EBITDA surged 208% YoY on the back of lower operational costs, LBITDA improved by 74% YoY and recorded first quarterly PAT delivering an exceptional 23% PAT margin assisted by forex gains RM million (pre-elimination) RM million (pre-elimination) 2Q2
Slide 25: Internal Targets
INTERNAL TARGETS
Slide 26: 2025 internal targets
2025 internal targets Capital A Companies AirAsia Aviation (Continuing Operations) (Discontinuing Operations) FY2025 1H25 Progress FY2025 1H25 Progress Target Actual Target Actual Revenue (RM bil) 3.5-4 1.52 Meeting 22-24 9.37 Meeting EBITDA (RM bil) 0.5-0.6 0.20 Meeting 4-4.8 1.91 Meeting NOP margi
Slide 27: Appendix
APPENDIX
Slide 28: AirAsia Aviation operating statistics
AirAsia Aviation operating statistics Capital A Berhad Airlines - Malaysia, Thailand, Indonesia, Philippines & Cambodia 2nd Quarter 2025 Operating Statistics Capital A Berhad Apr - June 2025 Apr - June 2024 Change AOCs (MAA, IAA PAA, TAA & CAA) Passengers Carried¹ 15,531,805 15,648,711 -0.7% Capacit
Slide 29: Capital A Companies operating statistics
Capital A Companies operating statistics Asia Digital Engineering Apr - June 2025 Apr - June 2024 Change Aviation Services 1) Number of approved hangar line No. of hangar line1 2) 16 7 9 Digital 3) No. of base maintenance check 35 8 337% 4) Number of unique users who visit a site within the month Nu
Slide 30: Thank You
h_c&a Thank You capital J