Pt Garuda Indonesia (persero) Tbk Class B · IDX:GIAA

Pt Garuda Indonesia (persero) Tbk Class B — H1 2025 Earnings Presentation

27 slides from Pt Garuda Indonesia (persero) Tbk Class B's earnings presentation, Oct 6, 2025

  1. Slide 1: Corporate Presentation 2Q 2025 – Audited

    CORPORATE PRESENTATION 2Q 2025 – Audited PT GARUDA INDONESIA (PERSERO) TBK 1 CONFIDENTIAL© GARUDA INDONESIA Cengkareng, 6th October 2025

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation material was prepared by PT Garuda Indonesia (Persero) Tbk. (“GIAA”/“Company”) and has not been independently verified. No representation or warranty. express or implied. is made and no reliance is made on the accuracy or completeness of the information presented or conta

  3. Slide 3: Summary

    SUMMARY In the first half of 2025, PT Garuda Indonesia (Persero) Tbk recorded consolidated operating revenue of USD 1,548.2 million, representing a 4.48% decline YoY compared to the same period in 2024. This was primarily driven by a 7.14% decrease in scheduled flight services revenue, largely refle

  4. Slide 4: Garuda Indonesia Board of Commissioners and Directors

    GARUDA INDONESIA BOARD OF COMMISIONER Fadjar Prasetyo Chairal Tanjung Glenny Kairupan Mawardi Yahya President Commissioner Commissioner Commissioner Independent Commissioner concurrently as Independent Commissioner GARUDA INDONESIA BOARD OF DIRECTORS Mukhtaris Reza Aulia Hakim Dani Haikal Iriawan Ek

  5. Slide 5: Strengthening Financial and Operational Performance to Deliver a Sustainable Aviation Group

    Strengthening Financial and Operational Performance to Deliver a Sustainable Aviation Group Domestic Network : Sustainable Growth Garuda Miles YTD Aug ‘25 achieved 2,353,953 member and 113 total partners 47 Domestic Routes 36 Destinations Certified Listed Purpose of Travelers Business Travelers 48%

  6. Slide 6: Strategic Pillar 2025

    STRATEGIC PILLAR 2025 Garuda Indonesia’s strategic roadmap to enhance profitability, strengthen market position, and drive sustainable growth in 2025 and beyond. GEARED UP TO ELEVATE SIMPLE ◦ Straightforward business process ◦ Collaborative environment PROFITABLE & INCREASE MARKET SHARE ◦ Beneficial f

  7. Slide 7: Shares Ownership

    SHARES OWNERSHIP Following the enactment of Law No. 1 of 2025 on State-Owned Enterprises, effective March 2025, the majority ownership of Garuda Indonesia’s shares is now held by Danantara, Indonesia’s sovereign wealth fund. SHARES OWNERSHIP Q2 2025 Domestic Shares % PT Danantara Government of 1 sha

  8. Slide 8: Garuda Indonesia Restructuring Time Horizon (1)

    GARUDA INDONESIA RESTRUCTURING TIME HORIZON (1) Post-2022 Rescue Restructuring: Positive Trends, Yet Further Recovery is Needed Horizon 1 (2021-2024) Achievements • Homologation plan , reducing debt : US$ 10.1B → US$ 4.8B • Garuda Indonesia intensified the acceleration of its performance • Realizati

  9. Slide 9: Garuda Indonesia Restructuring Time Horizon (2)

    GARUDA INDONESIA RESTRUCTURING TIME HORIZON (2) Danantara Asset Management (DAM) supports Garuda Indonesia’s comprehensive transformation Horizon 2 (2025-2029) Phase 1 - Shareholder Loan 2025: In June, Danantara DANANTARA ASSET Indonesia supports Garuda MANAGEMENT To ensure operational continuity an

  10. Slide 10: Revenue per Aircraft & Cost Impact

    REVENUE PER AIRCRAFT & COST IMPACT Garuda Indonesia Avg. Citilink Avg. Revenue per Aircraft Citilink Revenue per Aircraft Garuda Indonesia Fleet Under Fleet Under Maintenance +1,3% YoY Maintenance Aircraft 15,88 +4,4% YoY 15,68 31 11,47 10,99 20 20 13 1H 2024 1H 2025 1H 2024 1H 2025 1H 2024 1H 2025

  11. Slide 11: Strategic Direction

    STRATEGIC DIRECTION 1H 2025 Financial and Acceleration of Corporate Network 1 Operational Evaluation 2 Performance 3 Expansion FINANCIAL TRANSITION PERFORMANCE OPERATIONAL TRANSITION PERFORMANCE CUSTOMER EXPERIENCE YTD JUNE 2025 YTD JUNE 2025 Ops. Revenue US$ 1,548.2 (-4.8% YOY) Serviceable aircraft

  12. Slide 12: Sustained Cost Discipline with USD 227 Million Efficiency Realized

    Sustained Cost Discipline with USD 227 Million Efficiency Realized as of June 2025 As of YTD June 2025, the Company successfully realized USD 227 million in cost efficiencies, representing 59% of the full-year target of USD 386.7 million. The remaining USD 159 million will be achieved in 2H 2025 thr

  13. Slide 13: Operational & Financial 1H 2025

    OPERATIONAL & FINANCIAL 1H 2025

  14. Slide 14: Financial 1H 2025

    FINANCIAL 1H 2025 1H 2025 results reflect our ongoing fleet maintenance program, with revenues of USD 1.55 billion supported by positive EBITDA and operating cash flow. As more aircraft return to service, we expect stronger contribution in the second half of the year Garuda Indonesia (Parent Only) R

  15. Slide 15: The Group's Operating Revenue Highlight

    THE GROUP’S OPERATING REVENUE HIGHLIGHT -4.48% -7.14% +15.66% -5.59% 1620,73 205,84 167,57 1275,19 1.548,20 1.184,15 158,21 177,97 6M 2024 6M 2025 6M 2024 6M 2025 6M 2024 6M 2025 6M 2024 6M 2025 Total Operating Revenue Schedule Airline Service Revenue Non Schedule Airline Service Revenue Others Reve

  16. Slide 16: The Group's Operational Performance Highlight

    THE GROUP’S OPERATIONAL PERFORMANCE HIGHLIGHT Passenger Carried Cargo Carried 3,47% In million passenger In Ton -10,95% 112.707 108.927 2,32% -15.00% 11,53 10,27 58.146 54.562 53.326 6,11 5,12 5,19 2Q 2024 1Q 2025 2Q 2025 6M 2024 6M 2025 2Q 2024 1Q 2025 2Q 2025 6M 2024 6M 2025 Available Seat Kilomet

  17. Slide 17: The Group's Operating Expense Highlight

    THE GROUP'S OPERATING EXPENSE HIGHLIGHT CASK Fuel Burn (COST AVAILABLE SEAT KILOMETERS) (In million liter) USc -1.69% -2.94% -0.82% 6,97 618,34 607,89 6,91 -9.16% 6,86 6,76 320,36 316,90 6,66 291,00 2Q 2024 1Q 2025 2Q 2025 6M 2024 6M 2025 2Q 2024 1Q 2025 2Q 2025 6M 2024 6M 2025 *CASK decline of 2.94

  18. Slide 18: Appendices

    Garuda indonesia’® B) ne of ndonesa APPENDICES

  19. Slide 19: Consolidated Operational Performance (1)

    CONSOLIDATED OPERATIONAL PERFORMANCE (1) The Group Took on board 10,27 Million Passengers as of YTD June 2025 INDICATOR 2Q 2024 1Q 2025 2Q 2025 %YOY 6M 2024 6M 2025 %YOY OPERATIONAL *Utilization (hour) 08:18 00:52 09:12 00:54 07:58 09:02 01:04 *On-Time Perfomance 79,31 87,09 85,01 5,70 PP 83,66 86,0

  20. Slide 20: Consolidated Operational Performance (2)

    CONSOLIDATED OPERATIONAL PERFORMANCE (2) International Market Improve (Currency in Million USD, except stated otherwise) Domestic 2Q 2024 1Q 2025 2Q 2025 %YOY 6M 2024 6M 2025 %YOY Passenger Carried (Million) 2,24 1,93 2,15 -4,23% 4,13 4,04 -2,24% ASK (Billion) 2,71 2,47 2,65 -2,33% 5,18 5,12 -1,22%

  21. Slide 21: Consolidated Operational Performance (3)

    CONSOLIDATED OPERATIONAL PERFORMANCE (3) Main Brand 2Q 2024 1Q 2025 2Q 2025 %YOY 6M 2024 6M 2025 %YOY Passenger Carried (Million) 2,85 2,65 2,77 -2,61% 5,27 5,37 1,97% ASK (Billion) 6,13 6,76 6,10 -0,54% 11,79 12,86 9,08% Seat Load Factor (%) 77,38 79,62 77,27 -0,11 pp 75,70 77,86 2,16 pp Revenue Pa

  22. Slide 22: Consolidated Statement of Profit (Loss)

    Consolidated Statement of Profit (Loss) (Currency in Million USD, except stated otherwise) INDICATOR 2Q 2024 1Q 2025 2Q 2025 % YOY* 6M 2024 6M 2025 % YOY** REVENUE EBITDAR 288,33 200,56 251,00 -12,95% 463,86 451,56 -2,65% Scheduled Airline Service 676,18 603,69 580,47 -14,15% 1275,19 1184,15 -7,14%

  23. Slide 23: Decrease the Group's Expense by 5.22% in 2Q 2025

    (Currency in Million USD, except stated otherwise) Decrease the Group’s Expense by – 5,22% in 2Q 2025 INDICATOR 2Q 2024 1Q 2025 2Q 2025 % YOY* PoC 6M 2024 6M 2025 % YOY** PoC Fuel 297,60 233,42 238,36 -19,91% 30,31% 535,51 471,78 -11,90% 31,35% Aircraft Lease 40,16 3,89 36,76 -8,47% 4,67% 47,38 40,6

  24. Slide 24: Consolidated Statement of Financial Position

    Consolidated Statement of Financial Position (Currency in Million USD, except stated otherwise) Equity increase by 10.69% YoY INDICATOR FY 2024 Q1 2025 *%Chg. Q2 2025 **%Chg. ASSETS Current Assets 553,90 576,21 4,03% 581,20 4,93% Non current assets 6064,70 5882,04 -3,01% 5933,23 -2,17% Total Assets

  25. Slide 25: Consolidated Statement of Cash Flow

    Consolidated Statement of Cash Flow (Currency in Million USD, except stated otherwise) Managing Our Liquidity With Positive Operating Cash USD 303,33 Million INDICATOR 2Q 2024 1Q 2025 2Q 2025 *%YOY 6M 2024 6M 2025 **%YOY Beginning cash 227,38 219,17 223,77 -1,59% 289,85 219,17 -24,39% Cash from oper

  26. Slide 26: Holding Member Financial Highlights YTD Jun '25 vs YTD Jun '24

    Holding Member Financial Highlights YTD Jun ‘25 vs YTD Jun ‘24 19,9% 356,7% 12,9% 17,3% 21,1% 33,9% 476,44 216,48 381,44 178,96 in USD Mio 9,50 31,72 25,04 in USD Mio 13,26 8,77 (24,39) (38,51) (33,56) 1H ‘24 1H ‘25 1H ‘24 1H ‘25 1H ‘24 1H ‘25 1H ‘24 1H ‘25 1H ‘24 1H ‘25 1H ‘24 1H ‘25 Ops Revenue EB

  27. Slide 27: Thank You

    THANK YOU INVESTOR RELATIONS & FINANCIAL ANALYSIS INVESTOR@GARUDA-INDONESIA.COM CONFIDENTIAL© GARUDA INDONESIA 28

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