Capital A Berhad · MYX:CAPITALA
Capital A Berhad — Q1 2025 Earnings Presentation
28 slides from Capital A Berhad's earnings presentation, May 2025
Slide 1: 1Q2025 Financial Results
1Q2025 Financial Results © 2024 Capital A. All rights reserved.
Slide 2: Forward-Looking Statements and Non-MFRS Financial Information
FORWARD-LOOKING STATEMENTS AND NON-MFRS FINANCIAL INFORMATION This presentation includes forward-looking statements regarding future performance and events. These statements are based on various assumptions and expectations and may include projections of our future financial performance and anticipa
Slide 3: 3 things to consider when analysing results
3 things to consider when analysing results 1. Understanding segmental performance [Note 26] Pre-elimination figures are key - they capture the revenue for services provided by Capital A companies to aviation company and vice versa 2. Understanding elimination adjustments Revenue earned by Capital A
Slide 4: Capital A financial highlights
Capital A financial highlights Capital A RM million post-elimination Revenue 5,265 EBITDA 1,106 margin 21% NOP 290 margin 6% PAT 194 margin 3.7% NB: Refer to Bursa announcement for elimination adjustments. 4
Slide 5: Capital A Companies and AirAsia Aviation financial highlights
Capital A Companies and AirAsia Aviation financial highlights Capital A AirAsia Aviation Companies pre-elimination RM million pre-elimination Revenue 778 4,914 EBITDA 102 980 margin 13% 20% NOP 41 241 margin 5% 5% PAT 59 127 margin 7.6% 2.6% NB: Refer to Bursa announcement for elimination reconcilia
Slide 6: 2025 internal targets
2025 internal targets Capital A Companies AirAsia Aviation FY2025 1Q25 Progress FY2025 1Q25 Progress Target Actual Target Actual Revenue (RM bil) 3.5-4 0.78 Tracking 22-24 4.91 Tracking EBITDA (RM bil) 0.5-0.6 0.10 Tracking 4-4.8 0.98 Tracking NOP margin 7-10% 5.2% Tracking 3-5% 4.9% Tracking On tra
Slide 7: Corporate exercises are in their final phase
Corporate exercises are in their final phase Aviation disposal nearing completion, PN17 regularisation by September Aviation disposal Jun 2025 Fulfill all conditions precedent: – Close RM1 billion placement – Secure consent from Securities and Exchange Commission (SEC) of Thailand (first round compl
Slide 8: AirAsia Aviation
AIRASIA AVIATION
Slide 9: Aviation key points
Aviation key points 1. Strong revenue despite 20 grounded aircraft - RM108 mil loss of EBITDA due to non-operating aircraft that could have raised EBITDA from RM980 mil to RM1,088 mil and NOP from RM240 mil to RM348 mil 2. High 86% load factor, higher than pre-pandemic levels despite high capacity a
Slide 10: Aviation financial highlights
Aviation financial highlights ● Revenue achieved was RM4.9 bil ● 20% EBITDA margin (+1ppt YoY) ● Lower NOP by 12% YoY as higher despite non-active aircraft ● Mainly due to decrease in fuel interest incurred due to revenue bond – 8 storage (non-active) costs (-11%YoY) despite increased – 8 storage (u
Slide 11: Aviation revenue drivers
Aviation revenue drivers Optimised capacity and competitive fares maintain load factor momentum Capacity (in mil) Average Fares (RM) Ancillary Income per Pax (RM) 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24 1Q25 4Q24 1Q24 18.9 18.6 17.0 241 237 264 60 57 57 Load Factor 86% 88% 90% ● Capacity grew 11% YoY as group
Slide 12: 10% increase in ancillary income
10% increase in ancillary income Ancillary per pax increased by 5% to RM60 due to strong data 10% ● Ancillary income increased 10% to RM965 mil, making up 20% of 1Q25 aviation revenue ● On a per pax basis, ancillary per pax grew 5% YoY to RM60 ● Baggage rose by 16% to RM632 mil, making up 65% of tot
Slide 13: Adjusted CASK
Adjusted CASK Costs will come down as we reactivate non-operational aircraft ● Excluding non-operating aircraft costs, operating CASK was USc4.50, which was 5% 5% lower YoY USc4.74 ● Led by lower fuel unit costs (-15% YoY) USc4.50 ● Other costs drivers for CASK: ○ Staff (+0.3%) ○ Maintenance and ove
Slide 14: Total fleet
Total fleet ● 1 aircraft received in April. No other 224 225 221 223 Total fleet new deliveries expected in 2Q25 ● 5 redeliveries in 2Q25 205 207 208 223 Active fleet ● By end of 2Q25, expect to have 208 active aircraft, consisting of 190 Storage (non-active) available operational aircraft and 18 St
Slide 15: By end 2027, we target to have 236 aircraft
By end 2027, we target to have 236 aircraft ● In the next 3 years, we aim to add 4-6 aircraft per year, ending with 236 narrowbody aircraft in 2027 ● Next deliveries consist of A321LR which will allow us to fly farther, i.e. up to 7 hours, opening up new route pairs 15
Slide 16: Aviation business outlook
Aviation business outlook Network ○ Domestic market dominance - expect to be >60% market share in Malaysia, >40% in Thailand ○ Fly-Thru acceleration - target to exceed pre-pandemic 7 mil Fly-Thru seats by leveraging megahubs KUL and DMK, strong feed from India, China and Central Asia to popular leis
Slide 17: Capital A Companies
CAPITAL A COMPANIES
Slide 18: Asia Digital Engineering (ADE) financial highlights
Asia Digital Engineering (ADE) financial highlights ● Up by 23% YoY, driven by increase ● Flat EBITDA. Margin declined by 5ppts ● 8% NOP margin - declined by in line, base maintenance, YoY as costs climbed disproportionately 5ppts due to engine delays workshop and components to revenue, due to delay
Slide 19: Asia Digital Engineering (ADE) business outlook
Asia Digital Engineering (ADE) business outlook Fundraising ○ Aim to raise up to RM250 million to fund the expansion of upcoming 4 hangar lines and new workshop, alongside potential acquisitions of established MRO players across Indonesia, the Philippines and Thailand Base maintenance ○ KLIA hangars
Slide 20: AirAsia MOVE financial highlights
AirAsia MOVE financial highlights ● Revenue slipped YoY due to ● EBITDA margin +54% YoY - staff ● 9% NOP margin reduction in AirAsia MOVE’s share costs decreased 5% YoY following ● Strong improvement in NOP due to of AirAsia sales from 41% of flown headcount rationalisation, other lower depreciation
Slide 21: AirAsia MOVE business outlook
AirAsia MOVE business outlook Flights ○ Increase share of AirAsia bookings to 60% of seats sold, reinforcing official distribution partner status ○ Improved price competitiveness on AirAsia Flights from Q3 onwards ○ Increase Ancillary Revenue per Pax (‘RPP’) by 19%, driving added value from MOVE boo
Slide 22: Teleport financial highlights
Teleport financial highlights ● Strongest ever 1Q ● 9% EBITDA margin ● Positive NOP YoY despite higher ● Revenue growth of +15% YoY (23% ● EBITDA growth resulting from depreciation cost arising from YoY on a constant-currency basis) continued disciplined cost freighter and interest from financing, a
Slide 23: Teleport business outlook
Teleport business outlook Operating resilience Teleport is built to thrive no matter how the market moves, by relying on our operating resilience BUY: Leveraging the Teleport network to maximise capacity ● Doing more with Teleport’s 50+ airline partners to unlock 67% incremental growth in capacity ●
Slide 24: Abc. financial highlights
Abc. financial highlights ● Revenue growth of +11% YoY, driven ● 81% EBITDA margin ● 81% NOP margin by the recognition of revenue from ● EBITDA growth slipped YoY due to ● Most profitable non-aviation additional AOCs, for which only other operating expenses climbing business at NOP level began in 2Q
Slide 25: Abc. business outlook
Abc. business outlook Licensing and franchising ○ Expand brand and character IP into new markets and verticals for scalable growth ○ Grow number of licensees and strategic partners to monetise IP ○ Recurring revenue through licensing and platform usage fees Digital ○ Unlock higher margins by persona
Slide 26: Santan and BigPay financial highlights and outlook
Santan and BigPay financial highlights and outlook Outlook Outlook ● Expand services from inflight to on-ground with ● Refocus on remittance, lending and financial services announcement in the coming quarter for the ecosystem—segments with clear room to scale ● Expand RTE strategy to a broader grab-
Slide 27: Capital A business outlook
Capital A business outlook Driving efficiency for sustainable growth across the Group 1. Reactivate aircraft Resolve supply chain issues (esp. engines) and reactivate remaining non-operating aircraft, mostly in 3Q25 2. Refinance debt Utilise placement to refinance Aviation debt and reduce interest p
Slide 28: Thank You
h_c&a Thank You capital J