Aeroflot · RUS:AFLT
Aeroflot — FY2023 Earnings Presentation
26 slides from Aeroflot's earnings presentation, Mar 5, 2024
Slide 1: Aeroflot Group Q4 & 12M 2023 IFRS Results
Aeroflot Group Q4 & 12M 2023 IFRS Results 1 March 5th, 2024
Slide 2: Disclaimer
Q3 & 9M 2023 IFRS Results | Market Update Q4 & 12M and Operating 2023 IFRS Results 2 Disclaimer This document has been prepared by PJSC “Aeroflot” (the “Company”). By attending the meeting where the presentation is made, or by reading the presentation slides, you agree to the following. This documen
Slide 3: Aeroflot Group 2023 Key Highlights
Q4 & 12M 2023 IFRS Results | Key Highlights 3 Aeroflot Group 2023 Key Highlights In Q4 and 12M 2023 Aeroflot Group financial results achieved considerable progress Strong growth of passenger traffic High passenger load factor Maximum in domestic segment +16.3% 27.5% 53.3% +3.9 p.p. +31.2% 85.1 Pobed
Slide 4: Market Update and Operating Results
Market Update and Operating Results
Slide 5: Russian Air Transportation Market
Q4 & 12M 2023 IFRS Results | Market Update and Operating Results 5 Russian Air Transportation Market 38.5% Total Russian Air Transportation Market Share, 2023, % Russian Air Transportation Market vs Aeroflot Group, Aeroflot Group million PAX, incl. PAX of Russian and foreign carriers and intl. trans
Slide 6: Passenger traffic & PLF growth
Q4 & 12M 2023 IFRS Results | Market Update and Operating Results 6 Passenger traffic & PLF growth Passenger traffic outperforming last year figures Maximum passenger load factor million PAX 47.3 million PAX 11.5 million PAX 87.5% 87.2% 12М 2023 Q4 2023 12М 2023 Q4 2023 (+16.3% y-o-y) (+22.1% y-o-y)
Slide 7: Aeroflot Group Airlines Performance
Q4 & 12M 2023 IFRS Results | Market Update and Operating Results 7 Aeroflot Group Airlines Performance y-o-y dynamics Premium product Balanced product Basic product • Classes: business, • Economy class 54.7% 25.7% • Classes: business, comfort, economy 19.6% comfort, economy • Low prices • Various pr
Slide 8: Aeroflot Group Strategy 2030 Update
Q4 & 12M 2023 IFRS Results | Market Update and Operating Results 8 Aeroflot Group Strategy 2030 Update Scaling Up Aeroflot Group business Aircraft fleet and MRO Passenger traffic, million PAX MRO capacity enhancement – 50% in 2023 MRO was transferred 37.8% 38.5% to Aeroflot Technics 47.3 65.0 40.7 5
Slide 9: Network and Schedule Overview
Network and Schedule Overview
Slide 10: Capacity Growth
Q4 & 12M 2023 IFRS Results | Network 10 Capacity Growth 2023 Key Highlights Aeroflot Group Available Seats, million y-o-y dynamics 130 unique domestic routes 4.6% 64.2% 15.4% 6.8% 2.0х 4.6% 10.3% 3.5х 29.7% Development of direct regional 3.1% 11.5% 1.6% 16.5 flights, bypassing Moscow 13.2 13.5 13.2
Slide 11: Aeroflot Leveraging Domestic Market Opportunities
Q4 & 12M 2023 IFRS Results | Network 11 Aeroflot Leveraging Domestic Market Opportunities Novy Urengoy Khanty-Mansiysk Hub Tyumen Irkutsk Direct international flights Vladivostok in Krasnoyarsk Ekaterinburg Krasnoyarsk from Russian regions Mineralnye Vody Irkutsk Chita Samara Khabarovsk Mineralnye V
Slide 12: International Transportation Growth
Q4 & 12M 2023 IFRS Results | Network 12 International Transportation Growth 2023 key highlights Aeroflot Group international flights geography1 International flight programme on available destinations Azerbaijan Egypt Kyrgyzstan Maldives Turkey Armenia India China UAE Uzbekistan Increasing frequenci
Slide 13: Scheduled Revenue Units
Q4 & 12M 2023 IFRS Results | Network 13 Scheduled Revenue Units Yields and RASK demonstrated solid improving performance vs. 2022 numbers, in the international segment - correction against a high base and changes in the network structure. Segment Scheduled Yield (RUB/RPK) Scheduled RASK (RUB/ASK) 6.
Slide 14: Fleet Overview
Fleet Overview
Slide 15: Fleet Overview
Q4 & 12M 2023 IFRS Results Q4 & 12M | Market 2023Update IFRS Results and Operating | Fleet Overview Results 15 Fleet Overview number of aircraft as at the end of reporting period Wide-body (long-haul) 59 59 - A-330 12 12 - A-350 7 7 - 18 aircraft 100% aircraft B-777 32 32 - bought back from in the R
Slide 16: Financial performance
Financial performance 2023 AEROFLOTZ7
Slide 17: Key Financial Highlights
Q4 & 12M 2023 IFRS Results | Financial performance 17 Key Financial Highlights Q4 22 Q4 23 Change Indicator (million RUB) 2022 2023 Change Industry subsidy programme, RUB billion 99,166 171,090 72.5% Revenue 413,316 612,194 48.1% 100% 82.1% 64.9 4.0 11.6 90,604 157,995 74.4% PAX traffic revenue 376,
Slide 18: Revenue Dynamics
Q4 & 12M Q4 2023 & 12MIFRS 2023 Results IFRS Results | Financial | Key performance Highlights 18 Revenue Dynamics 2023 revenue increased on the back of better operating performance and growing transportation in the scheduled passenger flights Revenue by Key Factors, RUB million Revenue by Business S
Slide 19: Operating Costs
Q4 & 12M 2023 IFRS Results | Financial performance 19 Operating Costs Q4 2022 Q4 2023 Change Indicator (million RUB) 2022 2023 Change OPEX structure 20232 42,287 63,488 50.1% Fuel 166,630 219,172 31.5% 100,362 -4,091 - OPEX (ex. Fuel) 260,053 210,769 -19.0% 19.3% 23.2% servicing D&A 28,686 32,381 12
Slide 20: Unit Costs Dynamics
Q4 & 12M 2023 IFRS Results | Financial performance 20 Unit Costs Dynamics Unit Costs Dynamics 1.50 1.79 19.2% Fuel 1.42 1.55 9.7% 3.56 -0.12 - CASK (ex. Fuel): 2.21 1.49 -32.4% 0.73 0.85 15.7% Aircraft and passenger servicing 0.70 0.80 14.4% Operating costs per ASK declined by 15.9% 1.02 0.91 -10.4%
Slide 21: Fuel Costs Management
Q4 & 12M 2023 IFRS Results | Financial performance 21 Fuel Costs Management Fuel price, Aeroflot Airlines, RUB thousand / tonne Fuel Damper Fuel price, monthly Fuel volume, Aeroflot, thousand tonnes (right hand scale) 90.0 Cut-off price, RUB thousand / tonne 2020 2021 2022 2023 FAS export price, RUB
Slide 22: Leverage and Liquidity
Q4 & 12M 2023 IFRS Results | Financial performance 22 Leverage and Liquidity Cash position of RUB 117.1 billion and available credit lines of RUB 109.2 billion. Debt Profile*, Liquidity 4.3% RUB billion 31-Dec-22 31-Dec-23 Change, % 30-Sep-23 217.0 226.4 Borrowings 114.4 104.4 -8.8% 114.1 109.0 109.
Slide 23: Appendix
Appendix
Slide 24: Operating indicators: Aeroflot Airlines and Aeroflot Group
Q4 &Q4 12M & 12M 2023 2023 IFRS Results IFRS Results | Key |Highlights Appendix 24 Indicator Aeroflot Airlines Aeroflot Group Q4 23 YoY 2023 YoY Q4 23 YoY 2023 YoY Passenger Traffic PAX thousand 6,263 35.2% 25,207 22.8% 11,510 22.1% 47,331 16.3% international routes PAX thousand 1,924 67.6% 7,113 85
Slide 25: Aeroflot Group Blended Flights Revenue Units
Q4 & 12M 2023 IFRS Results | Appendix 25 Aeroflot Group Blended Flights Revenue Units Segment Yield (Scheduled + Charter PAX Revenue RUB/RPK) RASK (RUB/ASK) 5.96 5.80 4.48 4.78 International 2.6% 6.7% 3.34 4.10 3.69 2.87 Domestic 22.9% 28.9% 3.83 4.63 4.05 Total 3.20 20.9% 26.5% year-on-year change,
Slide 26: Contacts
Contacts +7 (495) 258-06-86 ir@aeroflot.ru