Norwegian Air Shuttle Asa · OSL:NAS

Norwegian Air Shuttle Asa — Q2 2011 Earnings Presentation

9 slides from Norwegian Air Shuttle Asa's earnings presentation, Jul 14, 2011

  1. Slide 1: Norwegian Air Shuttle ASA Q2 2011 presentation

    Norwegian Air Shuttle ASA Q2 2011 presentation July 14th 2011 Double digit revenue growth in Q2 • Group revenues of MNOK 2,725 in Q2 2011, 34 % growth since last year – Domestic revenue: MNOK 982 (+28 %) – International revenue: MNOK 1,743 (+38 %) Slide: 2

  2. Slide 2: Q2 operating result improved by 185 million from last year

    Q2 operating result improved by 185 million from last year Soaring fuel price slows positive momentum – EBITDAR MNOK + 347 (+144) – EBITDA MNOK + 137 (-49) – EBIT MNOK + 73 (- 93) . – Pre-tax profit (EBT) MNOK + 75 (- 188) – Net profit MNOK + 54 (- 134) EBITDAR development Q2 EBITDA development Q2 S

  3. Slide 3: Cash and cash equivalents of 1.2 billion

    Cash and cash equivalents of 1.2 billion • Cash flows from operations in Q2 2011 MNOK +275 (+311) – Last year with positive one-off from faster collection of receivables • Cash flows from investing activities in Q2 2011 MNOK -756 (-558) – Aircraft deliveries and pre-delivery-payments for future deli

  4. Slide 4: Production growth and passenger record in Q2

    Production growth of 24 % in Q2 • 78 % load factor in Q2 • Load up 3 p.p. from last year – Up 2 p.p. adjusted for last year’s closure of European airspace 6,000 5,000 100 % + 24 % + 28 % 5,000 78 % 77 % 78 % 78 % 4,000 75 % 75 % 74 % 80 % 4,000 3,000 60 % 3,000 ASK Load Factor 2,000 40 % Available S

  5. Slide 5: Growth focus on Sweden and Helsinki; underlying unit cost down 6.5 %

    Growth focus on Sweden and Helsinki in Q2: Recently established Helsinki base with 260,000 passengers in Q2 Norwegian in Oslo Norwegian in Stockholm Norwegian in Copenhagen + 326,000 pax + 331,000 pax + 107,000 pax • Marginal increase in domestic frequencies • New dom. routes to Malmö & Gothenburg •

  6. Slide 6: Norwegian aiming for CASK NOK 0.30 excluding fuel

    Norwegian aiming for CASK NOK 0.30 excluding fuel Scale economies New more efficient aircraft Growth adapted to int’l markets • Uniform fleet of Boeing 737-800s • Flying cost of 737-800 lower than 737-300 • Salaries adapted to international cost levels • Overheads • 737-800 has 38 “free” seats • Out

  7. Slide 7: Ancillary revenues remains a significant contributor

    Ancillary revenues remains a significant contributor • Ancillary revenue comprises 11 % of Q2 revenues (target 15 %) 80 + 3% 70 60 50 Ancillary revenue per passenger (NOK) 40 30 20 10 0 Q2 08 Q2 09 Q2 10 Q2 11 Ancillary revenue/ pax 42 68 76 78 Slide: 13 Current planned fleet development • 59 aircra

  8. Slide 8: Aircraft financing through 2012 secured; Expectations for 2011

    Aircraft financing through 2012 secured • PDP and LT financing secured throughout 2012 in recent NOK 3 billion mandate – PDP tranche closed – Long Term 2011 tranche closed – Long Term 2012 tranche expected closed in July/ August 2011 • Committed fleet of 51 new 737-800s by year-end 2012 (DY Spec) –

  9. Slide 9: Norwegian offers 261 scheduled routes to 100 destinations

    Norwegian offers 261 scheduled routes to 100 destinations Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 3 Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA Slide: 18

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