Aercap Holdings N.v. · NYSE:AER
Aercap — Q2 2021 Earnings Presentation
18 slides from Aercap's earnings presentation, Jul 29, 2021
Slide 1: Second Quarter 2021 Financial Results
Second Quarter 2021 Financial Results AerCap Holdings N.V. July 29 , 2021 D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 2: Disclaimer Incl. Forward Looking Statements & Safe Harbor
Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with Further information regarding these and other risks is included in AerCap's respect to future performance and events. These statements, estimates and annual report on
Slide 3: Key Highlights
Key Highlights World’s major markets benefiting from vaccine roll-out Cash collections and leasing demand picking up strongly GECAS integration workstreams making progress © AerCap | Confidential property of the company, not for disclosure or use without permission 3
Slide 4: Vaccines – the Key to Reopening
Vaccines – the Key to Reopening Vaccinations are driving a clear recovery in air travel in the three major air travel markets. These three markets represent 67% of global traffic United States Europe China 3.0 120 30,000 120 18,000 120 16,000 2.5 100 25,000 100 100 14,000 Total vaccine doses per 100
Slide 5: Improving Leasing Environment
Improving Leasing Environment Demand for leasing has improved significantly in 2021 Leasing Activity AerCap signed 51 leases in 2Q, including 13 widebody leases 140 Narrowbody aircraft lease activity remains strong, with 38 new leases 120 signed in 2Q Number of Aircraft Placed 100 In addition,
Slide 6: GECAS Transaction Timeline Update
GECAS Transaction Timeline Update Integration workstreams are in place to hit the ground running from Day 1 Public AerCap Shareholder Regulatory Closing Announcement Meeting Approvals In MARCH MAY Progress 4Q 2021 Investor update call Shareholders approved Approvals obtained from We continue to expe
Slide 7: Revenues and Other Income
Revenues and Other Income ($ million) 2Q 2021 2Q 2020 Basic lease rents decreased primarily due to lease restructurings, Basic Lease Rents 871 948 transitions and the impact of airline bankruptcies Maintenance Rents and Other Receipts 131 224 Maintenance rents and other Net Gain on Sale of Asset
Slide 8: Expenses
Expenses ($ million) 2Q 2021 2Q 2020 Depreciation and amortization decreased primarily due to a lower Depreciation and Amortization 392 412 lease assets balance Asset Impairment 57 73 Asset impairment charges in 2Q 2021 related to lease terminations and Interest Expense 293 312 sales transaction
Slide 9: Net Income and Earnings Per Share
Net Income and Earnings Per Share ($ million, except per share amounts) 2Q 2021 2Q 2020 Net Income 250 246 Diluted Earnings Per Share 1.92 1.92 ($ million, except per share amounts) 2Q 2021 2Q 2020 Net Income 250 246 Transaction-related Expenses 69 - Income Tax Benefit (9) - Net Income Excluding
Slide 10: Liquidity Position
Liquidity Position Next 12 months’ sources-to-uses coverage of 1.7x, with $9.7 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of June 30, 2021) $4.2 billion of excess cash coverage ($ billion) Record low leverage ratio of 2.4x 9.0 $2.6 Excess ~24% secured debt-to-total asse
Slide 11: Strong Credit Profile through Covid-19
Strong Credit Profile through Covid-19 AerCap’s balance sheet has remained strong throughout the Covid-19 pandemic Metric 4Q 2019 2Q 2021 Leverage Ratio 2.6x 2.4x Secured Debt / Total Assets % 22% 24% Sources to Uses Ratio 1.4x 1.7x Unencumbered Assets ($ billion) $28.2 $26.3 We believe our strong p
Slide 12: Q&A
Q&A D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 13: Supplemental Information
Supplemental Information D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 14: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise ~65% of our owned fleet Number of % Net Number of Managed Number of Total Aircraft Type Owned Aircraft Book Value Aircraft on Order Aircraft Aircraft Airbus A320 Family 272 12% 44 − 316 Airbus A320neo Family 175 24% 5 147 3
Slide 15: Forward Order and Purchase/Leasebacks
Forward Order and Purchase/Leasebacks Aircraft Type 2021 2022 2023 2024 2025 Thereafter Total Airbus A320neo Family 15 28 36 27 25 16 147 Boeing 737 MAX 8 5 17 18 19 10 77 Boeing 787 3 4 1 4 4 7 23 Embraer E190 / 195-E2 - - - 11 18 4 33 Total Aircraft 26 37 54 60 66 37 280 As of June 30, 2021 © AerC
Slide 16: Capital Structure
Capital Structure Adjusted Debt/Equity Calculation ($ million) June 30, 2021 Dec. 31, 2020 Debt (including fair value adjustments) 28,099 28,742 Adjusted for: Unrestricted cash & cash equivalents (1,403) (1,249) 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 25,5
Slide 17: Endnotes
Endnotes SLIDE 4: Vaccines – the Key to Reopening The U.S., Europe and China accounted for ~67% of 2019 global commercial flights according to FlightRadar24 Vaccine data: Our World in Data, as of July 27, 2021. Country-by-country sources - https://ourworldindata.org/covid-vaccinations#source-informa
Slide 18: AerCap House, Dublin contact details
AerCap House T: +353 1 819 2010 65 St Stephens Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e