Alliance Aviation Services Limited · ASX:AQZ
Alliance Aviation Services — H1 FY2013 Earnings Presentation
21 slides from Alliance Aviation Services's earnings presentation, Feb 19, 2013
Slide 1: Interim Results Half year ended 31st December 2012
For personal use only Interim Results Half year ended 31st December 2012 Scott McMillan, Managing Director Jeff Childs, Chief Financial Officer 20th February 2013 0
Slide 2: Disclaimer
Disclaimer Reliance on third party information This presentation was prepared by Alliance Aviation Services Limited (ACN 153 361 525) (“Alliance”). This presentation may contain information For personal use only that has been derived from publicly available sources that have not been independently v
Slide 3: 1HFY2013 result highlights
1HFY2013 result highlights For personal use only Revenue increased to $115.2 million up 36.0% (1HFY12: $84.7 million) EBITDA increased 27.9% to $28.9 million (1HFY12: $22.6 million pro forma result) NPAT increased 29.8% to $10.9 million (1HFY12: $8.4 million pro forma result) Successfully ra
Slide 4: Business update
Business update Alliance is on track for continued growth For personal use only Spare capacity in the FIFO fleet continues to be utilised in shorter term operating contracts Geographic coverage continues to grow Continued operational - Services from Melbourne (Essendon) are increasing and a base
Slide 5: Track record in revenue growth and flight hours
Track record in revenue growth and flight hours Continued growth For personal use only Alliance revenue profile and composition 140 20,000 18,000 120 16,000 100 14,000 12,000 80 Hours ($M) 10,000 60 8,000 40 6,000 4,000 20 2,000 0 - 1HFY11 2HFY11 1HFYF12 2HYFY12 1HYFY13 FIFO Charter Wet Lease Other
Slide 6: Comparative data
Comparative data 1HFY13 1HFY12 Variance For personal use only Average aircraft in service 23.4 18.6 25.8% Flight Hours 17,261 12,375 39.5% Total Flights 12,389 9,071 36.5% Average Staff Numbers 495 386 28.2% Annualised EBITDA per Aircraft in $2,473,916 $2,347,619 5.4% service Annualised Revenue per
Slide 7: Components of revenue growth 1HFY12 – 1HFY13
Components of revenue growth 1HFY12 – 1HFY13 For personal use only Revenue, 1HFY12 - 1HFY13 200 150 Revenue, $ million 10.1 115.2 84.7 15.9 5.4 .5 100 -1.4 50 0 Charter Other 1HFY12 Fuel Pass- Through FIFO 1HFY13 Wet Lease 6
Slide 8: Strong earnings growth continues
Strong earnings growth continues Profit & loss statement (1HFY12 Pro forma figures) Key observations For personal use only % Strong growth in revenue up 36.0% to $115.2 million 1HFY13 1HFY12 pcp (1HFY12: $84.7 million) ($ in millions) Actual Pro forma Change Revenue Contract revenue 75.3% of tot
Slide 9: Fleet Operational and Financial metrics
Fleet Operational and Financial metrics For personal use only 25 3.5 3.0 20 2.5 15 2.0 1.5 10 1.0 5 0.5 0 0.0 1HFY11 2HFY11 1HFYF12 2HYFY12 1HYFY13 Operational fleet (time weighted) Gross Profit per operational fleet * EBITDA per operational fleet* * Annualised 8
Slide 10: Balance sheet
Balance sheet Balance Sheet Key observations For personal use only ($ in millions) 1HFY13 FY2012 1HFY12 Enhanced balance sheet with new finance Cash 13.6 0.4 0.9 facilities Receivables 22.7 26.5 14.1 Inventory 8.4 8.2 6.9 Cash on hand for aircraft purchases, Total current assets 44.7 35.1 21.9 p
Slide 11: Growth vs. stay in business capex expenditure
Growth vs. stay in business capex expenditure For personal use only Capex and fleet profile 60 25 50 20 40 15 30 10 20 5 10 0 0 FY09 FY10 FY11 FY12 1HYFY13 Entry into service checks Major maintenance Rotables Aircraft other Property, plant and equipment Aircraft number 10
Slide 12: Cashflow statement
Cashflow statement Cashflow statement Key Observations For personal use only 1HFY13 1HFY12 ($ in millions) Receipts from customers (inclusive of GST) 130.9 91.5 Positive cash flow from operations of $26.1 million Payments to suppliers (inclusive of GST) (97.2) (69.4) Net interest paid (2.6) (2.9)
Slide 13: Summary and outlook
Summary and outlook For personal use only 1 Continuation of strong profitability and growth Well positioned in growing FIFO market which currently accounts for > 75% of 2 Alliance’s revenue Alliance’s dedicated service offering and enhanced geographic footprint provides it 3 with a strong platform t
Slide 14: Appendix
For personal use only 13 Appendix
Slide 15: FY FIFO revenue – by mine phase
FY 13 FIFO revenue – by mine phase For personal use only 91% 9% Nil Nil Exploration Construction Production Closure BHP Incitec Pivot Newcrest Oz Minerals Newmont Rio Tinto MMG 14
Slide 16: Key Attributes of FIFO Operators
Key Attributes of FIFO Operators For personal use only 1 Requisite regulatory approvals and infrastructure requirements Knowledge, capital and capability to provide tailored air transportation services to the 2 market Reputation as highly capable and competent FIFO service provider to satisfy string
Slide 17: Growing national footprint
Growing national footprint Alliance route map For personal use only National footprint provides the ability to be responsive Cairns and flexible Offices (engineering support and crew) Line maintenance Currently services mining and Townsville energy projects throughout Offices Australia fro
Slide 18: Fleet Development Strategy
Fleet Development Strategy For personal use only Operational characteristics of aircraft key to meet clients’ requirements: − Aircraft: preference for jets over turbo-props − Fleet: suited to operate under Australian climatic conditions − Range: minimise requirement for stops to re-fuel Optimise
Slide 19: Maintenance capabilities
Maintenance capabilities Alliance in-house heavy maintenance capability is a key competitive advantage For personal use only − Ensures total control over maintenance quality which reflects in Alliance’s industry leading despatch reliability − Optimises availability of aircraft − Cornerstone of emp
Slide 20: Alliance fleet
Alliance fleet Fokker 100 Fokker 70LR Fokker 50 For personal use only Number 18 7 6 Capacity 100 passengers 75 passengers 52 passengers Cruising speed 800 kph 800 kph 500 kph Maximum range 3,167 km 3,500 km 2,600 km Two Pratt & Whitney PW Two Rolls-Royce TAY 650-15 Two Rolls-Royce TAY 620-15 125B tu
Slide 21: Platform for Future Growth
Platform for Future Growth For personal use only Continued focus on safety, quality and on-time performance Focus on organic FIFO growth Continued expansion of customer base Enhanced geographical presence Fleet expansion Significant engineering capacity Strengthened balance sheet and f
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