Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Q3 2021 Earnings Presentation
16 slides from Norwegian Air Shuttle Asa's earnings presentation, Oct 28, 2021
Slide 1: Presentation of third quarter 2021
Presentation of third quarter 2021 28 October 2021
Slide 2: Highlights
Highlights 1 A strong uptick in demand and improving load factor 2 Q3 2021 EBT of NOK 169 million 3 A solid financial position with NOK 7.6 bn in cash & equivalents 4 Equity ratio increased to 14 percent 5 Simplifying operations and legal structure 6 Signed LOI for up to 13 aircraft with PBH for win
Slide 3: Strong sales momentum into Q4 and encouraging forward bookings
Strong sales momentum into Q4 and encouraging forward bookings 7-day rolling sales figures – All markets No. of booked passengers (abs.); Travel anytime • Close to 2.5 million passengers travelled with Norwegian in Q3 • Production in Q3 increased by over six times Sales stabilizing on strong levels
Slide 4: Norwegian Reward is an attractive program driving demand
Norwegian Reward is an attractive program driving demand Cashpoints can again be used to book tickets without restrictions Norwegian Reward is a competitive advantage • Transparent value, 1 CashPoint = 1 NOK • CashPoints can be spent on all flights as partial or full payment • Customers earn 2% and
Slide 5: Simplifying operations and legal structure
Simplifying operations and legal structure Continued to reduce complexity and cost Norwegian Air Shuttle base ASA Number of operational AOC's reduced from six to two Arctic Aviation Assets Norwegian Air In process of reducing number of entities by Aircraft Airline services Norwegian Crew approx. 50
Slide 6: Financial results for Q3 2021
Financial results for Q3 2021
Slide 7: Q3 EBT of NOK 169 million
Q3 EBT of NOK 169 million NOK million Q3 2021 Q3 2020 YTD 2021 YTD 2020 Passenger revenue 1,517 905 1,880 6,045 Ancillary passenger revenue 388 204 498 1,449 Other revenue 22 179 140 932 Total operating revenue 1,927 1,288 2,518 8,426 Personnel expenses 522 374 1,441 2,460 Aviation fuel 546 162 689
Slide 8: A strong balance sheet – debt conversion completed in Q3
A strong balance sheet – debt conversion completed in Q3 30 SEP 30 SEP NOK million 2021 2020 Intangible assets 2,054 2,203 30 SEP 2021 Tangible fixed assets 5,827 65,009 Cash 7,635 Aircraft financing 4,974 Fixed asset investments 92 1,080 NAS13 700 Total non-current assets 7,973 68,291 Other IB debt
Slide 9: Cash flow – continued cost control and low cash-burn
Cash flow – continued cost control and low cash-burn NOK million Q3 2021 Q3 2020 Net cash flows from operating activities 443 -1,291 Purchases, proceeds and prepayment of tangible assets -7 -14 Other investing activities -2 -64 Net cash flows from investing activities -9 -78 Principal repayments -12
Slide 10: The way forward
The way forward
Slide 11: Ramping up for 2022
Ramping up for 2022 • Currently 51 aircraft in operation with Avg. no. of Short-term fleet plan 2022 aircraft in operation PBH through winter 2021 above a minimum operation equivalent to 10 70 aircraft 60 • The PBH-arrangement through the Full PBH above winter is based on airborne hours ~51 AC 50 me
Slide 12: Summary
Summary • Norwegian has a strong balance with NOK 7.6 bn in cash & equivalents and NOK 0.6 bn in net debt • Low operational cash-burn in the traditionally loss-making winter season • Well-positioned for the winter season with continued constructive dialogue with unions and flexible cost structure wi
Slide 13: Fly Norwegian
Fly Norwegian Book tickets at Norwegian.com
Slide 14: Appendix
Appendix
Slide 15: Overview of debt facilities and terms
Overview of debt facilities and terms Zero Coupon Retained Instrument New Capital Perpetual Bonds NAS13 Bonds Claims Bonds* Ordinary: NO0010996440 ISIN: NO0010996457 NO0010996390 Early conversion: NO0010996432 Status: Subordinated Senior unsecured Secured Ordinary: NOK 1,738,293,310 Outstanding amou
Slide 16: 20 largest shareholders as of 30 September 2021
20 largest shareholders as of 30 September 2021 Name Country Number of shares Per cent 1 Geveran Trading Company, Ltd. Cyprus 134,123,801 14.5 % 2 Sundt AS Norway 124,003,198 13.4 % 3 DNB Asset Management AS Norway 66,776,607 7.2 % 4 Folketrygdfondet Norway 49,179,684 5.3 % 5 Davy Stockbrokers Irela
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