Aegean Airlines Sa · ATHEX:AEGN
Aegean Airlines Sa — H1 2007 Earnings Presentation
11 slides from Aegean Airlines Sa's earnings presentation, Aug 23, 2007
Slide 1: Aegean Airlines First Half 2007 Results
Aegean Airlines First Half 2007 Results Analysts Conference Call August 23, 2007
Slide 2: Key highlights for the First Half 2007
Key highlights for the First Half 2007 4 Turnover rose 22% to €209m 4 Strong passenger growth continues with traffic up 19% 4 EBITDAR up 45% to €29.1m 4 Net profit for the period increased to €6.4m from €1.1m 4 CASK fell by 8.6% - Yield reduced by 3% 4 Average passenger per flight up to 91 from 89 –
Slide 3: Our network development and our fleet
Our network development 4 Aegean serves 30 year-round routes and 13 seasonal vs. 26 year round and 2 seasonal last year 4 Athens-Bucharest and Athens-Cairo opened at the end of 2006 4 Athens-Frankfurt, Athens-Munich routes opened in March 2007 4 Second daily frequency in Athens-Milan 4 Seasonal rout
Slide 4: First Half 2007 P&L highlights
First Half 2007 P&L highlights Six Months Six Months 2007 vs Euro (million) 2006 2007 2006 Revenue 172.0 209.0 22% EBITDAR 20.1 29.1 45% EBITDAR margin 11.7% 13.9% +2.3 ppt EBIT 5.8 10.4 79% EBT 0.8 8.0 846% Net income 1.1 6.4 507% 4
Slide 5: Strong top line growth
Strong top line growth Six Months Six Months 2007 vs Euro (million) 2006 2007 2006 Scheduled Services 133.2 163.3 23% Charter 17.1 17.7 3% Other 8.3 9.5 15% Airport charges 13.4 18.5 38% Sales 172.0 209.0 22% 5
Slide 6: Activity remains dynamic
Activity remains dynamic Aegean carries 19% more passengers 4 Leading position in the domestic market International +35.1% 781,330 4 Demand stimulation with 578,137 early booking offers 1,388,356 +12.2% 1,557,253 4 Expanding international Domestic presence 1H06 1H07 AIA total traffic up 10% 4 Health
Slide 7: Key Performance Indicators
Key Performance Indicators CASK (€ cents) Scheduled Services 9.60 -8.6% 8.78 ASK +32.1% 66.6% Load Factor 1H06 1H07 69.7% +26.2% RASK (€ cents) RPK -5.5% 9.65 9.12 1H06 1H07 1H06 1H07 4 ASK growth driven by longer stage length, fleet expansion and more seats per aircraft Yield (€ cents) 4 Load facto
Slide 8: Focus on maintaining a lean cost structure
Focus on maintaining a lean cost structure Costs per ASK development (€ cents) 2.50 -10% 2.00 -6% -5% 1.50 +2% -23% 1.00 +16% 0.50 -49% 0.00 Aircraft fuel Employee Airport charges Aircraft Distribution Aircraft leases Depreciation benefits maintenance expenses 1H06 1H07 4 EBITDAR margin improved by
Slide 9: Balance sheet key highlights
Balance sheet key highlights Euro (million) Dec-06 Jun-07 Total fixed assets 71.8 100.4 Cash and cash equivalents 24.4 30.1 Net debt €19.1m Other current assets 70.6 69.5 Prior IPO proceeds of €135m Total 166.8 200.0 to be booked in Q3 2007 Total equity 16.5 23.2 Debt 56.7 49.2 Liabilities 93.6 127.
Slide 10: Cash flow highlights
Cash flow highlights Six Months Six Months Euro (million) 2006 2007 Net cash flows from operating activities 25.5 12.5 Net cash flows from investing activities (10.3) 1.9 Net cash flows from financing activities (14.4) (8.6) Net (decrease)/ increase in cash and cash 0.8 5.8 equivalents Cash and cash
Slide 11: Forward Looking Statements
Forward Looking Statements Except for historical information, the statements made or information contained in this presentation are forward-looking in nature and, as such, are subject to certain risks and uncertainties, many of which are beyond the Company’s control, which could cause the actual res