Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Q1 2007 Earnings Presentation
10 slides from Norwegian Air Shuttle Asa's earnings presentation, Apr 26, 2007
Slide 1: Norwegian (NAS) Q1 2007
Norwegian (NAS) Q1 2007 Bjø Bjørn Kjos (CEO) Oslo, 26. April 2007 Strong revenue growth in Q1 ● 738 MNOK in total revenue, 37 % growth since last year MNOK revenue 800 700 600 500 400 300 200 Q1 2004 Q1 2005 Q1 2006 Q1 2007 Q1 04 Q1 05 Q1 06 Q1 07 Revenue 236 320 539 738 Domestic revenue 231 247 335
Slide 2: Improved Q1 results
Improved Q1 results ● EBITDA of - 9 MNOK in Q1 07, -15 MNOK after tax ● Stronger results due to cost reduction and improved yields ● Unrealized profits from fuel hedge MNOK 12 EBITDA MNOK 0 Q1 2006 Q1 2007 -10 -20 -30 -40 -50 Q1 06 Q1 07 EBITDA MNOK -52 -9 EBITDA margin % -10 % -1 % Earnings after t
Slide 3: 27 MNOK profit from Norwegian operation
27 MNOK profit from Norwegian operation ● 27 MNOK in EBITDA on Norwegian operations ( - 52 MNOK in Q1 06 ) ● Reaching target to break even in Q1, due to reduced costs EBITDA MNOK 40 30 20 10 Q1 07 0 79 MNOK improvement -10 Q4 06 -20 -30 -40 -50 5 Despite seasonalities Polish operations improving ● P
Slide 4: Warsaw base sales on track; positive cash flow
Warsaw base sales on track ● Increased ticket sales, positive trend in 2007 ● Positive load factor development 160 000 Ticket sales per quarter 120 000 80 000 40 000 0 Q4 06 Q1 07 7 Positive cash flow from operation 238 MNOK ● Net change 296 MNOK in Q1 – mainly driven by strong sales – financial act
Slide 5: Sustainable growth; passenger growth continues
Sustainable growth ● 44 % production growth since last year ● Load factor at 75 %, down 2 pp since last year M ASK 1400 1200 1000 800 600 400 200 0 Q1 04 Q1 05 Q1 06 Q1 07 Q1 04 Q1 05 Q1 06 Q1 07 LOAD FACTOR 65 % 68 % 77 % 75 % ASK 370 569 933 1342 9 Passenger growth continues ● 1,3 million passenge
Slide 6: Domestic market share at 40%; unit costs down
Domestic market share at 40 % ● 40 % market share on key domestic routes, same as last year ● Increased market share on routes with higher production ● Reduced production on Tromsø route in Q1 % Market Share 45 % 40 % 43 % 43 % 35 % 37 % 42 % 43 % 30 % 32 % 38 % 33 % 33 % 34 % 25 % 30 % 27 % 20 % Be
Slide 7: Distribution costs on target; position for further growth
Distribution costs on target ● Distribution cost per sold ticket of NOK 13 in Q1 07 ● 43 % reduction in distribution cost per sold ticket Distr.cost per ticket 45,0 35,0 25,0 15,0 5,0 Q1 04 Q1 05 Q1 06 Q1 07 13 Norwegian in position for further growth ● Bond issued – 300 MNOK listed on ABM at NIBOR
Slide 8: Norwegian and FlyNordic
Norwegian acquires FlyNordic Strategic co-operation with Finnair Norwegian and FlyNordic ● Number one Low Fares Airline in the Nordic countries LFA's in Europe 2006 ● 31 aircrafts Rank Company Country Pax 06 (m) 1 Ryanair Ireland 40,5 2 easyJet UK 33,7 ● 9-10 million customers in 2008 3 Air Berlin G
Slide 9: Routes from Stockholm Arlanda; cooperation with Finnair
15 routes from Stockholm / Arlanda - 5 domestic and 10 international - ALL ROUTES WITH GREAT FARES TO THE CUSTOMERS! Kiruna Luleå Umeå Østersund Bergen Oslo Tallinn Stockholm Gothenburg Dublin Copenhagen Warsaw Krakow Paris Bordeaux 17 St.Tropez Strategic Cooperation with Finnair Numerous options fo
Slide 10: Expectations for remaining 2007
Expectations for remaining 2007 Expected business environment: ● Increased competition on international routes ● Stable competition in Sweden and Poland Expected results: ● Unit cost for 2007 in the area of NOK 0,53 – At current fuel and currency levels, and flight program ● Increased revenue from t
Norwegian Air Shuttle — Q1 2007 Earnings Presentation on 6ix