Ryanair Holdings Plc · EURONEXT:RYA

Ryanair — H1 FY2015 Earnings Presentation

24 slides from Ryanair's earnings presentation, November 2014

  1. Slide 1: Half 1 Results - Nov 2014

    Half 1 Results - Nov 2014 © Ryanair 2014

  2. Slide 2: Europe's Favourite Airline

    Eur ope’s Favourite Air line Europe’s Lowest Fares/Lowest Unit Costs Europe’s No 1, Traffic – 89m (No.1 or 2 mkt leader) Europe’s No 1, Coverage – 70 Bases (incl CPH) Europe’s No 1, C’mer Service – Low Fares/On-time/Bags/Canx – Always Getting Better/Digital rollout Fwd bookings, Ld factors & Traffic

  3. Slide 3: Europe's Lowest Fares

    Eur ope’s Lowest Far es Avg. Fare % > Ryanair LOW Ryanair €46 (-4%) MEDIUM Norwegian €83 + 80% easyJet €84 + 83% Aer Lingus (s/h) €93 + 102% Air Berlin €121 + 163% HIGH Alitalia €148 + 222% Lufthansa €235 + 411% IAG €242 + 426% AF-KLM €300 + 552% Ave .Fare €163 Source: Latest Annual Reports © Ryanai

  4. Slide 4: Europe's Lowest Cost (Ex Fuel)

    Eur ope’s Lowest Cost (Ex Fuel) RYA EZY NOR AB1 LUV Spirit Staff €6 €9 €15 €17 €35 €19 Airport & hand €8 €21 €14 €27 €8 €6 Route charges €6 €6 €8 €8 €0 €0 Own’ship & maint. €7 €9 €21 €29 €16 €19 S & M other €2 €7 €4 €26 €15 €15 Total €29 €52 €62 €107 €74 €59 % > Ryanair + 79% +114% +270% +155% +103%

  5. Slide 5: Europe's No 1 Coverage

    E u r o p e ’s N o 1 C ove r a g e 70 bases 183 airports 30 countries 1,600+ routes 89m c’mers (+9%) 299 x 737-800’s 180 x 800 order (Mar 13) 200 x MAX order (Sep 14) Newest fleet (c. 5 Yrs) © Ryanair 2014 5

  6. Slide 6: Europe's No 1 For Traffic Growth

    E u r o p e ’s N o 1 Fo r Tr a f f i c G r ow t h C’mers (m’s) 114 110 106 100 100 95 90 89 80 81.7 70 62 61 60 54 52 50 40 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Source: Latest traffic stats for 12 mths to Mar14 and company forecasts. © Ryanair 2014 6

  7. Slide 7: Strong Market Positions

    S t r o n g M a r ke t Po s i t i o n s Country (Cap m) No. 1 No. 2 No. 3 Share UK (117) easyjet BA 16% Germany (112) Luft Air Berlin 4% Spain (105) Vueling Iberia 18% Italy (85) Alitalia easyJet 25% France (72) AF- KLM easyJet 7% Portugal (19) TAP easyJet 17% Belgium (15) SN Brussels Jetairfly 25%

  8. Slide 8: Half Year Results

    H a l f Ye a r R e s u l t s Sep 13 Sep 14 Traffic 49m 51m +4% Load Factor 85% 89% +4% Avg. Fare (incl. bag) €52 €54 +5% Rev. Per Pax €66 €69 +4% Revenue €3,255m €3,537m +9% Profit after Tax €602m €795m +32% Net Margin 19% 23% +4%pts © Ryanair 2014 8

  9. Slide 9: Strong H1 Balance Sheet

    Strong H1 Balance Sheet Mar 14 Sept 14 €m €m Aircraft (inc. dep.) 5,570 €5,927 Cash 3,242 4,375 (i) Total Net Cash 8,812 10,302 Net Cash €158m €618m Liabilities 2,442 2,320 Debt 3,084 3,757 (i) S/H Funds 3,286 4,225 Total 8,812 10,302 (i) Includes €850m euro bond proceeds (17 June 2014) © Ryanair 20

  10. Slide 10: Current Developments

    Cur r ent Developments “Always Getting Better” - drives stronger demand Fwd Bookings, LF & Traffic Rising (Q3 +12%, Q4 +20%) FY Traffic raised from 87m to 89m (+9% PY) Oil Price Falling – 90% hedged for FY16 Winter Sched & 4 new bases launched 23 State Aid Cases being resolved (favourably) AGM appro

  11. Slide 11: Always Getting Better – Customer Experience

    Always Getting Better – Customer Experience Improving c’mer & digital experience drives fwd b’kings 2nd small carry on bag Allocated seating New Business & Family products Wider GDS distrib – Amadeus Oct Web & Mobile App improves UK’s most searched airline website RYR Labs to drive more innovation ©

  12. Slide 12: UK's Most Searched Airline Website

    UK’s Most Sear ched Air line Website No.3 to No.1 Website No.1 6 months in row Brand Index +27% Improving brand drives traffic growth © Ryanair 2014 12

  13. Slide 13: Forward Bookings & Load Factors Rising

    Fo r wa r d B o o k i n g s & L o a d Fa c t o r s R i s i n g Load Factors Fwd bookings (31/10)(i) 13/14 14/15 Apr 81% 84% +3% Nov +2% May 82% 85% +3% Dec +7% Jun 84% 88% +4% Jan +5% Jul 88% 91% +3% Feb +5% Aug 89% 93% +4% Mar +3% Sep 85% 90% +5% Oct 83% 89% +6% (i) Fwd bks as a % of traffic target

  14. Slide 14: W15 Bases, Routes & Business Schedules

    W15 Bases, Routes & Business Schedules 4 New Bases • Cologne, Gdansk, Glasgow, Warsaw (CPH Mar 15) 41 New Routes • ATH-CRL, CGN-MAD, EIN-LIS, LIS-BGY, OPO-HAM Increased Domestic Frequencies: • Italy: FCO-CTA (6), FCO-PMO (4) • Scotland: GLA-STN (3), EDI-STN (3) • Poland: GDN-WMI (2), WRO-WMI (2) • P

  15. Slide 15: 23 State Aid Cases – Being Resolved (favourably)

    23 State Aid Cases – Being Resolved (favourably) Airport 2013 Pax State Aid Airport 2013 Pax State Aid 1 Charleroi 5.6m NO 13 Tampere 0.3m NO 2 Beauvais 3.4m ? 14 Lübeck 0.2m ? 3 Hahn 2.6m NO 15 Aarhus 0.1m NO 4 Girona 2.5m ? 16 Klagenfurt 0.1m ? 5 Niederrhein 2.4m NO 17 La Rochelle 0.1m ? 6 Marseil

  16. Slide 16: Boeing 737-MAX "Gamechanger" Aircraft

    Boeing 737-MAX “Gamechanger” Aircraft 200 x Boeing MAX – “Gamechanger” ordered Sept 2014 • 100 Firm & 100 Options • Deliveries from 2019 to 2023 197 seats (+4%), CFM LEAP Engines & competitive pricing, delivers: • Lower unit costs & lower fares drives growth • Slimline seats = more leg room • Boeing

  17. Slide 17: New Boeing Sky Interior

    New Boeing Sky Interior © Ryanair 2014

  18. Slide 18: Fleet / Traffic Growth FY to FY

    F l e e t / Tr a f f i c G r ow t h F Y 1 5 t o F Y 2 4 Fleet C’mers Growth (at YE) P.A. Ann Cum FY15 308 89m + 9% + 9% 340 95m + 7% + 16% 737-800 Order FY16 FY17 368 100m + 5% + 22% FY18 402 106m + 6% + 30% FY19 420 114m + 8% + 40% FY20 451 120m + 5% + 47% FY21 468 130m + 8% + 59% MAX Order FY22 48

  19. Slide 19: Outlook

    Outlook Improving c’mer & digital experience driving demand Fwd bookings +5% v PY despite 16% H2 traffic growth FY’15 ex fuel unit costs flat - incl fuel down 4% H1 traffic up 4%, LF up 4% points, fares up 5% H2 traffic up 16% (Q3 +12%; Q4 +20%) H2 fares down: Q3 -3% to -5%; Q4 -6% to -10% FY Guidan

  20. Slide 20: Appendices

    Appendices © Ryanair 2014

  21. Slide 21: Always Getting Better Distribution

    Always Getting Better Campaign Airport Campaign Better Brand #1 Rebrand #2 Distribution Google New Groups GDS 1 GDS 2 Corporate Flight Extended Product Winter 14 Summer 15 & new bases & new routes Quiet 2nd Free Service Fees Allocated PED Better Flights Bag Cut seats use Digital Better Website My We

  22. Slide 22: Shareholder Returns

    Shar eholder Retur ns FY 2008 – share buyback 1 €300m FY 2009 – share buyback 2 €46m FY 2011 – special div 1 €500m FY 2012 – share buyback 3 €125m FY 2013 – share buyback 4 €67m FY 2013 – special div 2 €492m FY 2014 – share buyback 5 €484m FY 2015 – special div 3 (Feb 2015) €520m Total Shareholder R

  23. Slide 23: Fuel Hedging

    Fuel Hedging FY’15 90% hedged - $950pmt @ $1.34 (-9% fuel cost/pax v PY) Cost/Tonne FY14 FY15 Q1 $965 (Act) $947(Act) -2% Q2 $965 (Act) $944(Act) -2% Q3 $990 (Act) $960 (90%) -3% Q4 $985 (Act) $959 (90%) -3% FY $980 $950 -3% FY’16 90% hedged - $930pmt @$1.33 (-2% fuel cost/pax v PY) Cost/Tonne FY15

  24. Slide 24: Disclaimer

    Disclaimer Certain of the information included in this presentation is forward looking and is subject to important risks and uncertainties that could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. By their nature, for

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