Icelandair Group Hf · OMXICE:ICEAIR
Icelandair Group Hf — Q3 2020 Earnings Presentation
16 slides from Icelandair Group Hf's earnings presentation, Oct 27, 2020
Slide 1: Q3 2020 results
Q3 2020 results Investor meeting 27 October 2020
Slide 2: Highlights
Highlights Results Successful Outlook for Q3 2020 financial restructuring coming weeks Results significantly affected by the Icelandair Group completed The operations will be characterized negative impact of COVID-19 comprehensive financial restructuring by exceptional uncertainty and remain with th
Slide 3: Financials
Financials Eva Sóley Guðbjörnsdóttir CFO Icelandair Group
Slide 4: Results impacted by COVID-19
Results impacted by COVID-19 Revenues down by 81% USD million Q3 2020 Q3 2019 Change Transport revenue 56.1 422.6 -366.6 + All main revenue and cost items lower due to less Aircraft and aircrew lease 4.4 23.5 -19.1 production and actions taken to decrease negative Other operating revenue 43.1 87.8 -
Slide 5: Traffic Data
Traffic Data All operations of Icelandair Group continued to be heavily impacted by COVID-19 Q3 2020 - changes from last year -4 -16 -19 Increased cargo aircraft flights explain less drop -53 in cargo -63 operations than in passenger -80 services -90 -91 Pax ASK LF (ppt) Pax ASK LF (ppt) BH FTK Pax
Slide 6: All main deviations in expenses between years are directly related to the adverse effects of the pandemic
All main deviations in expenses between years are directly related to the adverse effects of the pandemic Salaries Aviation expenses Other expenses -72% -88% -83% 113.4 102.1 47.9 29.0 25.7 20.9 21.3 18.7 17.7 Q319 9.4 9.6 10.5 6.6 7.1 5.6 4.8 Q320 4.4 3.9 4.4 1.9 4.2 2.1 3.6 0.8 0.2 1.7 -0.1 -0.4 S
Slide 7: Restructured balance sheet with equity ratio of 26%
Restructured balance sheet with equity ratio of 26% Assets Equity and liabilities 30 Sep 2020 31 Dec 2019 Change 30 Sep 2020 31 Dec 2019 Change Operating assets 523.7 630.4 -106.7 Stockholders equity 293.1 482.5 -189.4 Right-of-use assets 122.8 134.0 -11.2 Loans and borrowings non-current 253.2 241.
Slide 8: Net interest-bearing debt USD 37 million
Net interest-bearing debt USD 37 million Decreased by USD 104 million from the beginning of the year Equity ratio Interest bearing debt NIBD excl. net lease liabilities Percentage USD million USD million 29% 26% -123 -104 387 141 66 80 264 11 86 Held for sale 241 253 Current 37 NIBD Group Non-curren
Slide 9: Liquidity position amounting to USD 399 million
Overview liquidity position USD million +97 399 Liquidity position amounting to 302 120 USD 399 million 11 55 52 end of Q3 2020 36 235 Government guaranteed credit facility Cash assets held for sale 191 Undrawn revolving facilities Marketable securities Cash and cash equivalent 31-Dec-19 30-Sep-20 9
Slide 10: Outlook
Outlook Bogi Nils Bogason President and CEO Icelandair Group
Slide 11: Successful financial restructuring completed
Successful financial restructuring completed Result of wide-ranging participation by key stakeholders as well as the Icelandic government New long-term Agreements with Settlement with Government Share union lenders, lessors and The Boeing guaranteed credit offering agreements other vendors Company f
Slide 12: Icelandair summer schedule 2021
Icelandair summer schedule 2021 + 32 cities + 25-30% less capacity than in 2019 + Tenerife new destination + Focus on simplicity and flexibility of the network + New flexible booking policies + Subject to reduced COVID-19 impact 12
Slide 13: Icelandair fleet availability is sufficient to support a strong recovery in 2021
Icelandair fleet availability is sufficient to support a strong recovery in 2021 Icelandair fleet available summer 2021 Icelandair will have up to 30 aircraft available for summer schedule 2021 + Three new B737 MAX aircraft expected to be delivered from April 2021, in addition to six aircraft alread
Slide 14: Icelandair Group is in a good position to scale up as soon as markets open again
Icelandair Group is in a good position to scale up as soon as markets open again Proven and Improved Strong position in Opportunities to Strong balance flexible competitiveness to highly attractive grow unique sheet and liquidity business model ensure profitability Icelandic tourism transatlantic hu
Slide 15: Q&A
Q&A
Slide 16: Disclaimer
Disclaimer + This material has been prepared by Icelandair Group hf. It may include confidential information about Icelandair Group hf. unless stated otherwise all information is sourced by Icelandair Group hf. + The circulation of the information contained within this document may be restricted in