Aegean Airlines Sa · ATHEX:AEGN
Aegean Airlines Sa — H1 2025 Earnings Presentation
14 slides from Aegean Airlines Sa's earnings presentation, September 2025
Slide 1: Q2 2025 and H1 2025 Financial Results Presentation
Q2 2025 and H1 2025 Financial Results Presentation September 2025
Slide 2: H1-25 Highlights
H1-25 Highlights • €787,0 mil. revenue 5% higher, with available seats 5% and passenger traffic 4% higher compared to H1-24. • RASK growth 1% and Yield growth 2% compared to H1-24. • Continued cost control; CASK (EBT level) 3% lower YoY and CASK (EBT level) - excl. fuel costs 2% lower YoY, supported
Slide 3: +4% increase in passenger traffic with increased Revenue
+4% increase in passenger traffic with increased Revenue. +109% increase in Net Profit after tax also supported by the euro/dollar exchange rate. RPKs (in mil.) ASKs (in mil.) Passengers (in ‘000) Load Factor 9.534 9.883 7.745 7.999 8.114 7.256 7.572 6.669 6.452 82,2% 81,4% 81,1% H1-19 H1-24 H1-25 H
Slide 4: AEGEAN delivered strong financial results despite geopolitical challenges
In H1-25, AEGEAN delivered strong financial results despite significant geopolitical challenges that limited access to key markets, particularly in Q2-25. Second Second % First Half First Half % (in € mil.) Quarter Quarter change 2024 2025 change 2024 2025 Revenue 480,3 480,9 0% 749,1 787,0 5% EBITD
Slide 5: Balance sheet strengthening
Balance sheet strengthening Cash & Cash Equivalents Debt (€ mil.) (€ mil.) 841,9 769,1 516,9 417,7 383,6 198,7 FY 2019 FY 2024 H1 2025 FY 2019 FY 2024 H1 2025 (amounts in € mil.) FY 2019 FY 2024 H1 2025 Cash and Cash Equivalents 517 769,1 841,9 Debt 199 383,6 417,7 Leases (IFRS 16) 343 1.047,6 949,9
Slide 6: Cash Flow Bridge
Cash Flow Bridge Amounts in € mil. 6 *Pdps: Pre-Delivery payments
Slide 7: Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented
Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented: “In the first half of 2025, AEGEAN delivered strong financial results despite significant geopolitical challenges that limited access to key markets, particularly in the second quarter. Travel demand to and from Greece remains strong, with growth d
Slide 8: Appendix
Appendix
Slide 9: Hedging Coverage
Hedging Coverage Managing exposure to reduce volatility on results and target cost certainty Hedging rate % Year Jet Fuel 2025 69% 2026 42% Hedging rate % Year US dollars 1 2025 63% 2026 54% Note: 1 Including cashflow and non cashflow hedges as % of total USD expenses. 9
Slide 10: AEGEAN at a glance
AEGEAN at a glance Second Second % First Half First Half % (in € mil.) Quarter Quarter change 2024 2025 change 2024 2025 Revenue 480,3 480,9 0% 749,1 787,0 5% EBITDA1 114,4 112,4 -2% 147,6 156,2 6% EBIT 70,6 61,5 -13% 63,4 58,9 -7% Pre-tax Profit/(Loss) 57,9 73,5 27% 31,6 66,0 109% Net Profit/(Loss)
Slide 11: Profit and Loss Account
Profit and Loss Account Second Second % First Half First Half % (in € mil.) Quarter Quarter change 2024 2025 change 2024 2025 Scheduled Services 419,6 418,0 0% 655,9 683,6 4% Charter 16,1 19,1 19% 19,8 23,8 20% Other 44,6 43,8 -2% 73,5 79,6 8,4% Total Revenue 480,3 480,9 0% 749,1 787,0 5% Other oper
Slide 12: Balance Sheet Aegean Group
Balance Sheet Aegean Group (in € mil.) 31.12.2024 30.06.2025 Total Fixed Assets 1.812,0 1.843,9 Cash & Cash Equivalents 575,6 604,3 Restricted Cash 2,5 5,8 Financial Assets Available for Sale1 191,0 231,8 Other Current Assets 293,3 368,0 Total Assets 2.874,4 3.053,7 Total Equity 499,4 438,3 Lease Li
Slide 13: Cash Flow Aegean Group - Summary
Cash Flow Aegean Group - Summary (in € mil.) 30.06.2024 30.06.2025 Net cash inflows/(outflows) from operating activities 357,2 228,9 Net cash inflows/(outflows) from investing activities (65,3) 7,1 Net cash inflows/(outflows) from financing activities (192,5) (126,3) Net (decrease)/ increase in cash
Slide 14: Group Operating Figures
Group Operating Figures Second Second % First Half First Half % Quarter Quarter change 2024 2025 change 2024 2025 Capacity ASKs (in millions) 5.783 5.723 -1% 9.534 9.883 4% Total available seats (‘000) 5.395 5.516 2% 8.944 9.374 5% Total Block Hours 59.501 58.895 -1% 97.807 100.923 3% Total Sectors