Syn Prop e Tech SA · BMFBOVESPA:SYNE3
Syn Prop e Tech SA — Azul — Q4 2018 Earnings Presentation
12 slides from Syn Prop e Tech SA's earnings presentation, Mar 14, 2019
Slide 1: 4Q18 Azul S.A. Results
4Q18 Azul S.A. Results March 14th, 2019 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is only a summary and does not purport to be complete. This presentation has been prepared solely for informational purposes and should not be construed as financial, legal, tax, accounting, investment or other advice or a recommendation with
Slide 3: Celebrating 10 Years with Great Results
Celebrating 10 Years with Great Results 2008 2018 3
Slide 4: Most on-time LCC in the world
Most on-time LCC in the world Revenue Adj. Net Income (R$ million) (R$ million) 18% 36% 9,205 704 7,774 516 2017 2018 2017 2018 4
Slide 5: 4Q18 Highlights
4Q18 Highlights ASK EBITDAR Operating Margin Net Income (million) (R$ million) (R$ million) +14.5% +14.1% 13.6% 763 11.4% 7,425 297 6,506 666 138 4Q17 4Q18 4Q17 4Q18 4Q17 4Q18 4Q17 4Q18 • Revenue up 13.5% to R$2.5 billion − RASK totaled 33.41 cents, compared to 33.60 cents in 4Q17, representing 0.6%
Slide 6: Operating Margin – 4Q18 vs. 4Q17
Operating Margin – 4Q18 vs. 4Q17 • Strong results from margin expansion strategy: − Fuel and currency impact accounted for 12-point reduction in margin − Recovery of 10 margin points from revenue recapture and margin expansion R$ M ~12 margin 13.6% points 11.4% Fuel and FX 256 297 283 28 EBIT 4Q17 A
Slide 7: TudoAzul and Azul Cargo Express Growth
TudoAzul and Azul Cargo Express Growth Strong non-ticket revenue growth driven by TudoAzul and Azul Cargo Express • Wholly-owned loyalty program TudoAzul • Additional capacity to drive further growth: ‒ 11 million members ‒ Increase in volume share from 12% to 15% YoY ‒ Increase in loyalty share fro
Slide 8: Strong Liquidity Position
Strong Liquidity Position Azul maintained a strong cash position while protecting all of its non-aircraft debt foreign currency exposure Cash Balance Total Debt (R$ million) (R$ billion) Accounts receivables 44% of TTM Adjusted for revenue currency Cash¹ hedges 4,118 3.5 3.5 3.4 4,043 3,557 1,341 1,
Slide 9: IFRS 16 Impact on 2018 Results
IFRS 16 Impact on 2018 Results Comparison of 2018 Results (Preliminary) IAS 17 (old) IFRS 16 (new) Difference EBIT margin 8.8% 15.1% 6.3 p.p. EBITDAR margin 28.7% 29.7% 1.0 p.p. EBITDA margin 12.3% 28.7% 16.4 p.p. Gross debt R$3.4 billion R$11.2 billion R$7.8 billion 7x LTM aircraft rent R$10.6 bill
Slide 10: 2019 Outlook
2019 Outlook 2019 Guidance (IFRS 16) ASK growth 18% to 20% Domestic 16% to 18% International 20% to 25% CASK -1% to -3% Operating margin 18% to 20% Note: Excludes non-recurring items 10
Slide 11: Agreement For Select Avianca Brasil Assets
Agreement For Select Avianca Brasil Assets Opportunity to accelerate growth and strengthen network and fleet Main Terms of the Proposal ‒ Agreement to acquire certain assets of Avianca Brasil ‒ Assets will be transferred to a new entity free and clear of all debts and liabilities (“NewCo”) ‒ Purchas
Slide 12: Investor Relations
Investor Relations +55 11 4831 2880 invest@voeazul.com.br