Aegean Airlines Sa · ATHEX:AEGN
Aegean Airlines Sa — Q1 2025 Earnings Presentation
14 slides from Aegean Airlines Sa's earnings presentation, May 2025
Slide 1: Q1 2025 Trading Update Presentation
Q1 2025 Trading Update Presentation May 2025
Slide 2: Q1-25 Highlights
Q1-25 Highlights • €306,0 mil. Revenue, an increase of 14% vs. Q1-24. • 3,1 mil. passengers, 8% increase compared to Q1-24. • Positive EBITDA of €43,8 mil., from €33,2 mil. in Q1-24. • EBIT losses of €2,6 mil., improved from losses of €7,2 mil. in Q1-24. • €6,6 mil. after-tax loss from €21,0 mil. af
Slide 3: Strong start to the year with significant increase in passenger traffic and revenue
Strong start to the year with significant increase in passenger traffic and revenue. Materially improved operating results in the seasonally weakest quarter. RPKs (in mil.) Passengers (in ‘000) Load Factor ASKs (in mil.) 4.160 3.751 82,3% 81,7% 80,6% 3.343 3.056 3.015 3.093 2.856 2.482 2.525 Q1-19 Q
Slide 4: AEGEAN carried 3,1 mil. passengers and recorded a 12% increase in international traffic
AEGEAN carried 3,1 mil. passengers and recorded an 12% increase in international passenger traffic in Q1-25 Total Passengers (in ‘000) Domestic Passengers (in ‘000) International Passengers (in ‘000) 3.093 2.856 1.913 2.525 1.714 1.405 1.120 1.180 1.142 Q1-19 Q1-24 Q1-25 Q1-19 Q1-24 Q1-25 Q1-19 Q1-2
Slide 5: First quarter results validate commitment to winter capacity growth
The company’s first quarter financial results validate its commitment to winter capacity growth aimed at gradually smoothing the high seasonality of the Greek market. Presentation of the key financial and operational results for the first quarter of 2024 and 2025, in comparison with the correspondin
Slide 6: Balance sheet
Balance sheet Cash & Cash Equivalents Debt (€ mil.) (€ mil.) 796,1 769,1 516,9 383,6 379,3 198,7 FY 2019 FY 2024 Q1 2025 FY 2019 FY 2024 Q1 2025 (amounts in € mil.) FY 2019 FY 2024 Q1 2025 Cash and Cash Equivalents1 517 769,1 796,1 Debt 199 383,6 379,3 Leases (IFRS 16) 343 1.047,6 1.010,7 Net Debt/
Slide 7: Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented
Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented: “The first quarter 2025 results validate AEGEAN’s strategy and growth momentum. We strengthened our passenger traffic, especially on international routes and boosted our network by flying with higher frequency in winter for the second consecutive y
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 70% 2026 36% Hedging rate % Year US dollars 1 2025 43% 2026 37% Note: 1 Including cashflow and non cashflow hedges as % of total USD expenses 9
Slide 10: AEGEAN at a glance
AEGEAN at a glance First Quarter First Quarter (in € mil.) % change 2024 2025 Revenue 268,8 306,0 14% EBITDA 33,2 43,8 32% EBIT (7,2) (2,6) -64% Pre-tax Profit/(Loss) (26,3) (7,5) -72% Net Profit/(Loss) (21,0) (6,6) -68% Total passengers (‘000) 2.856 3.093 8% Average passengers per flight 126 127 1%
Slide 11: Profit and Loss Account
Profit and Loss Account (in € mil.) First Quarter First Quarter 2024 2025 % change Scheduled Services 236,3 265,5 12% Charter 3,6 4,7 28% Other 28,9 35,9 24% Total Revenue 268,8 306,0 14% Other operating income 6,6 6,4 -3% Employee benefits (38,0) (43,5) 14% Aircraft fuel (65,2) (70,0) 7% Aircraft m
Slide 12: Balance Sheet Aegean Group
Balance Sheet Aegean Group (in € mil.) 31.12.2024 31.03.2025 Total Fixed Assets 1.812,0 1.838,5 Cash & Cash Equivalents 575,6 598,8 Restricted Cash 2,5 1,7 Financial Assets Available for Sale1 191,0 195,6 Other Current Assets 293,3 316,8 Total Assets 2.874,4 2.951,4 Total Equity 499,4 482,1 Lease Li
Slide 13: Cash Flow Aegean Group - Summary
Cash Flow Aegean Group - Summary (in € mil.) 31.03.2024 31.03.2025 Net cash inflows/(outflows) from operating activities 188,6 110,0 Net cash inflows/(outflows) from investing activities (67,3) (51,0) Net cash inflows/(outflows) from financing activities (123,5) (19,4) Net (decrease)/ increase in ca
Slide 14: Group Operating Figures
Group Operating Figures First Quarter First Quarter % change 2024 2025 Capacity ASKs (in millions) 3.751 4.160 11% Total available seats (‘000) 3.549 3.859 9% Total Block Hours 38.306 42.027 10% Total Sectors Flown 22.675 24.434 8% Average capacity per flight 157 158 1% Average sector length (km) 92