Norwegian Air Shuttle Asa · OSL:NAS

Norwegian Air Shuttle Asa — Q2 2009 Earnings Presentation

15 slides from Norwegian Air Shuttle Asa's earnings presentation, Jul 14, 2009

  1. Slide 1: Norwegian Air Shuttle ASA 2nd Quarter Presentation

    Norwegian Air Shuttle ASA 2nd Quarter Presentation Oslo July 14th 2009 Bjørn Kjos – CEO

  2. Slide 2: Strong revenue growth in Q2

    Strong revenue growth in Q2 • Group revenues of MNOK 1,901 in Q2 2009, 23 % growth since last year – Domestic Revenue: MNOK 709 (+ 27%) – International Revenue: MNOK 1,192 (+ 20%) MNOK 2 000 + 23% 1 800 1 600 1 400 1 200 1 000 800 600 400 200 0 Q2 06 Q2 07 Q2 08 Q2 09 Revenue 765 1019 1551 1901 Dome

  3. Slide 3: Most profitable Q2 in Norwegian's history

    Most profitable Q2 in Norwegian’s history • EBITDAR MNOK 418 - improved by MNOK 350 • EBITDA MNOK 258 - improved by MNOK 300 • EBT MNOK 245 - improved by MNOK 331 • Group earnings after tax MNOK 180 - improved by MNOK 242 EBITDAR development Q2-09 EBITDA development Q2-09 MNOK MNOK 450 450 400 400 3

  4. Slide 4: Increased cash and cash equivalents by MNOK 172 during Q2

    Increased cash and cash equivalents by MNOK 172 during Q2 • Cash Flows from Operations in Q2 2009 MNOK +323 (+99) • Cash Flows from Investing Activities in Q2 2009 MNOK - 430 (-106) – Prepayments for aircraft on order • Cash Flows from Financing Activities in Q2 2009 MNOK + 286 (-6) • Cash and cash

  5. Slide 5: Production growth of 17% in Q2

    Production growth of 17% in Q2 • 78 % load factor in Q2 09 – unchanged from last year ASK 4 000 100 % (mill) 90 % 3 500 79 % 79 % 78 % 78 % 80 % 3 000 70 % 2 500 60 % ASK (mill) 2 000 50 % Load Factor 40 % 1 500 30 % 1 000 20 % 500 10 % 0 0% Q2 06 Q2 07 Q2 08 Q2 09 ASK (mill) 1 234 1 763 2 974 3 469

  6. Slide 6: 4.9 million passengers chose to travel with Norwegian during the first half of 2009

    4.9 million passengers chose to travel with Norwegian during the first half of 2009 – an increase of 13 % Second Quarter 2009 First Half 2009 Pax 5 000 5 000 +13 % Pax (000) (000) 4 000 4 000 3 000 +19 % 3 000 2 000 2 000 1 000 1 000 - - Q2 06 Q2 07 Q2 08 Q2 09 H1 06 H1 07 H1 08 H1 09 Passengers 1 2

  7. Slide 7: Passenger development at Oslo Airport

    Passenger development at Oslo Airport OSL All Carriers OSL Only Norwegian • - 7 % on a 12 month rolling basis • + 15 % on a 12 month rolling basis Total Pax OSL Norw egian Pax OSL Pax Pax 5 500 000 1 600 000 5 300 000 1 500 000 + 15% 5 100 000 - 11% 1 400 000 4 900 000 1 300 000 4 700 000 4 500 000

  8. Slide 8: Increasing domestic market share

    Increasing domestic market share • 46 % market share on key domestic routes* • Increase of 6 percentage points from last year 60 % 50 % 50 % 47 % 45 % 43 % 42 %42 % 42 % 41 % 40 % 39 % 40 % 36 % 35 % 35 % 34 % 32 %32 % Q2 06 Q2 07 30 % Q2 08 Q2 09 20 % 10 % 0% Tromsø Stavanger Trondheim Bergen * Onl

  9. Slide 9: Market share on major route areas out of OSL

    Market share on major route areas out of OSL 50 % 46 % 40 % 40 % 40 % 39 % 38 % 30 % 30 % 28 % Q2 06 27 % 27 % Q2 07 22 % Q2 08 20 % 20 % Q2 09 15 % 10 % 0% International Domestic Norway Key Domestic Routes International Domestic Norw ay Key Domestic Routes From Oslo Airport From Oslo Airport From O

  10. Slide 10: Unit cost down 12 %

    Unit cost down 12 % • Unit cost of 0.47 in Q2 – Down 12 % since last year • Unit cost ex. fuel was 0.38 – Up 8 % since last year – Negative currency effects (leasing, handling, airport charges, technical expenses) • USD/NOK + 28 % • EUR/NOK + 11 % – 4 % shorter average flying distance NOK 0,60 0,55

  11. Slide 11: Continued growth in ancillary revenue

    Continued growth in ancillary revenue • Strong focus and improved products • In-flight Wi-Fi connectivity due for CAA approval – Roll-out expected during automn 2009 NOK pr. 80 80 NOK pr. pax + 63 % + 64 % pax 68 69 70 70 60 60 50 50 42 42 40 40 30 30 26 27 20 20 10 10 0 0 Q2 07 Q2 08 Q2 09 H1 07 H1

  12. Slide 12: Fleet update 2009

    Fleet update 2009 • Redelivery of the last MD-80 aircraft in October 2009 • Year-end fleet of 45 aircraft whereof 17 new Boeing 737-800 • The total 737-800 fleet in 2014 is expected to comprise 58 aircraft # of 50 a/c 45 45 45 45 1 43 4 40 5 35 28 30 28 28 MD-80 25 28 Boeing 737-300 20 Boeing 737-80

  13. Slide 13: Expectations for 2009

    Expectations for 2009 • Business Environment – Slowdown in the business environment expected throughout 2009 – Uncertain macro conditions – Seasonal fluctuations • Cost Development – Unit cost in the area of NOK 0,51 for the Group • Fuel price dependent – USD 730 per ton • Currency dependent – USD/N

  14. Slide 14: Norwegian offers 178 routes to 84 destinations

    Norwegian offers 178 routes to 84 destinations

  15. Slide 15: Norwegian Air Shuttle ASA

    Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 10A Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA

Norwegian Air Shuttle — Q2 2009 Earnings Presentation on 6ix