Aercap Holdings N.v. · NYSE:AER
Aercap — Q1 2021 Earnings Presentation
16 slides from Aercap's earnings presentation, Apr 28, 2021
Slide 1: First Quarter 2021 Financial Results
First Quarter 2021 Financial Results AerCap Holdings N.V. April 28 , 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 Significant momentum in air traffic recovery Consumer demand expected to bounce back quickly Closed $28 bn of funding relating to GECAS transaction © AerCap | Confidential property of the company, not for disclosure or use without permission 3
Slide 4: Demand Varies Significantly by Region
Demand Varies Significantly by Region Green shoots in the travel recovery begin to emerge ASIA AMERICAS EMEA Domestic travel in China continues TSA reports consistently high daily Significant travel restrictions in to surpass 2019 levels, although air passengers, as leisure-driven Europe conti
Slide 5: Improving Leasing Environment
Improving Leasing Environment Leased 60 aircraft in the first quarter, including 28 widebodies which is the most we have ever leased in a quarter Quarterly Leasing Activity AerCap signed 60 leases in 1Q, the 80 most since 3Q 2019 60 This high level of placement activity demonstrates the commitme
Slide 6: Revenues and Other Income
Revenues and Other Income ($ million) 1Q 2021 1Q 2020 Basic lease rents decreased Basic Lease Rents 889 1,031 primarily due to lease restructurings, transitions and the impact of airline bankruptcies. Cash accounting Maintenance Rents and Other Receipts 183 134 impact was $100 million Net Gain on
Slide 7: Expenses
Expenses ($ million) 1Q 2021 1Q 2020 Depreciation and amortization decreased primarily due to the lower lease assets balance in 1Q 2021 Depreciation and Amortization 397 416 Asset impairment charges in 1Q 2021 Asset Impairment 16 14 related to lease terminations and sales transactions and were o
Slide 8: Net Income and Earnings Per Share
Net Income and Earnings Per Share ($ million, except per share amounts) 1Q 2021 1Q 2020 Net income for 1Q 2021 was Net Income 228 277 primarily impacted by $100 million of cash accounting and $25 million of GECAS transaction-related Diluted Earnings Per Share 1.76 2.14 expenses ($ million, except
Slide 9: Liquidity Position
Liquidity Position Next 12 months’ sources-to-uses coverage of 1.7x, with $8.6 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of March 31, 2021) $3.7 billion of excess cash coverage ($ billion) 9.0 2.5x leverage ratio 7.5 $2.4 ~24% secured debt-to-total assets Excess Covera
Slide 10: Q&A
Q&A D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 11: Supplemental Information
Supplemental Information D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 12: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise ~63% of our owned fleet Number of % Net Number of Managed Number of Total Aircraft Type Owned Aircraft Book Value Aircraft on Order Aircraft Aircraft Airbus A320 Family 272 13% 44 − 316 Airbus A320neo Family 165 23% 5 157 3
Slide 13: Forward Order and Purchase/Leasebacks
Forward Order and Purchase/Leasebacks Aircraft Type 2021 2022 2023 2024 2025 Thereafter Total Airbus A320neo Family 25 29 33 29 25 16 157 Boeing 737 MAX - 2 17 18 19 15 71 Boeing 787 4 3 1 4 4 7 23 Embraer E190 / 195-E2 1 - - 11 18 4 34 Total Aircraft 30 34 51 62 66 42 285 As of March 31, 2021 © Aer
Slide 14: Capital Structure
Capital Structure Adjusted Debt/Equity Calculation ($ million) Mar. 31, 2021 Dec. 31, 2020 Debt (including fair value adjustments) 28,553 28,742 Adjusted for: Unrestricted cash & cash equivalents (1,448) (1,249) 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 25,9
Slide 15: Endnotes
Endnotes SLIDE 9: Liquidity Position Estimated cash capex includes expected cash payments for aircraft deliveries and pre-delivery payments during the next 12 months. Average cost of debt is calculated as interest expense, excluding mark-to-market on interest rate caps and swaps, debt issuance costs
Slide 16: AerCap House, 65 St Stephens Green, Dublin
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