Slide 1: Q1 2019 Analyst & investor presentation
Q1 2019 Analyst & investor presentation 22 January 2019
Slide 2: Q1 performance – Overview
Q1 performance – Overview 1. Positive underlying revenue trend • Robust demand across Europe • Strong ancillary revenue performance • Moderate competitor capacity growth in the market 2. underlying cost performance as expected • Continuing to deliver on cost programme • £10 million cost impact from
Slide 3: Q1 key stats – as expected
Q1 key stats – as expected Q1 ‘19 Q1 ’18 Change Favourable/(adverse) Passengers (m) 21.6 18.8 15.1% Load factor (%) 89.7% 92.1% (2.4pts) Seats (m) 24.1 20.4 18.2% Average sector length (km) 1,079 1,094 (1.4%) Passenger revenue (£m) 1,025 914 12.2% Ancillary revenue (£m) 271 226 19.9% Total revenue (
Slide 4: Q1 Revenue performance
Q1 Revenue performance @ constant currency -4.2% £55.99 -0.6% -£0.31 -2.9% -£1.62 -£0.31 -£1.23 -2.2% -£1.62 +0.8% £53.63 -£1.23 +0.7% £0.42 £0.38 Q1 2018 IFRS 15 Tegel Monarch / AirBerlin Ancillary Underlying Trading Q1 2019 administration & Ryanair cancellations 4
Slide 5: Cost performance
Cost performance Q1 2019 Q1 2019 Headline Reported Constant currency 4.3% 2.2% Cost per seat including fuel Increase Increase 1.3% 1.0% Cost per seat excluding fuel Increase Increase Increases driven by: Offset by: • Gatwick drone issue • Robust management action on costs: • Airport savings, driven
Slide 6: Brexit – very well prepared
Brexit – very well prepared • Operations are well prepared • 130 EU registered aircraft • Parts distribution and licence transfers on track • EU ownership now at 49% • UK and EU committed to continuation of flying rights post March 29 • Robust demand continues across the network • H2 forward booking
Slide 7: Fuel and foreign exchange hedging
Fuel and foreign exchange hedging Fuel requirement US dollar requirement Euro surplus Six months ending March 2019 69% @ $571/MT 78% @ 1.31 72% @ 1.13 Full year ending 30 September 2019 69% @ $577/MT 74% @ 1.33 72% @ 1.13 Full year ending 30 September 2020 52% @ $662/MT 56% @ 1.37 55% @ 1.10 As at 3
Slide 8: Forward bookings
forward bookings 92% 90% 83% 83% FY18 FY19 75% 74% 57% 58% 58% 56% 39% 38% 19% 20% Q1 Jan Feb Mar Q2 H1 H2 As at 21st January 2019 (Including Tegel bookings) 8
Slide 9: H1 capacity outlook
H1 capacity outlook 14.7% H1 FY18 H1 FY19 Tegel flying Previously 4.3% 7.8% 7.1% 6.1% 5.7% 3.9% 3.2% 0.6% Capacity change total SH Market Competitors on easyJet markets Capacity Change easyJet markets easyJet capacity change H1 2019 (Oct 2018 to March 2019) as at 3 January 2019 9
Slide 10: Outlook
Outlook Capacity (seats flown) FX / Fuel* > FY c.+10% increase; H1 c.15% increase > FY: c.£10 million adverse movement from foreign exchange rates on headline PBT Revenue per seat at constant currency > FY: unit fuel costs £10 million to £60 million adverse > H1 revenue per seat performance (updated
Slide 11: Appendix
Appendix
Slide 12: Q1 Passenger statistics
Q1 Passenger statistics October 2018 2017 Change Passengers 8,578,341 7,519,759 14.1% Load Factor 90.5% 92.5% (2.0pts) November 2018 2017 Change Passengers 6,182,399 5,350,245 15.6% Load Factor 89.2% 92.3% (3.1pts) December 2018 2017 Change Passengers 6,830,887 5,884,304 16.1% Load Factor 89.2% 91.4