Easyjet Plc · LSE:EZJ
Easyjet — Investor Day (January 2024)
8 slides from Easyjet's investor day presentation, Jan 31, 2024
Slide 1: Garry Wilson – easyJet holidays CEO
Garry Wilson – easyJet holidays CEO 31 January 2024
Slide 2: Europe's best leisure network
Europe’s best leisure network Customer base > c.100m seats & c.1,000 routes across Europe > c.3 million customers experienced easyJet holidays since launch > #1 UK Airline – more seat capacity than Jet2 & TUI combined > Strong brand recognition and consideration > 81% customers likely to rebook Digi
Slide 3: Customer growth and FY23 highlights
Customer growth (m) FY23 highlights > 4% flight attachment rate – significant growth opportunity FY22 1.1 remains > <4% fixed cost base 77% > Improved margin per passenger by +12% (£112) and ASP by 8% FY23 1.9 (£653) > FY 23 gross margin of 19% (up +1ppts YoY) > Launched new source market PBT growth
Slide 4: Inventory source, star rating and attachment rate
Inventory source Star rating > Majority of sales via direct contracts, 24% > The majority of our sales continue to 38% delivering margin and customer be 4 & 5 star, driving ASP increases benefits YoY 62% > We’re further extending our direct 74% > Achieved while growing customer booking share with Dy
Slide 5: Market leading margins and UK market share
PBT Margin1 % > Market leading margins > Increased market share by 150% 2023 > Underpinned by low-cost business model that cannot be replicated UK Market share of ATOL licenses TUI Northern Regions On The Beach BA holidays Jet2 easyJet holidays 19% 21% 19% +223% Profitability evolution1 (£m) 2019-20
Slide 6: Further conversion of airline customers; win OTA and legacy customers
10% Further conversion of airline customers > Direct easyJet seats ▪ Converting “self package” holidays segment > Current third party “package” customers on easyJet seats (OTA’s & TUI) ▪ 12% of FY23 seats sold to third parties 5% Win OTA customers on other airlines > OTAs cannot compete on cost > Si
Slide 7: Growth levers to deliver >£250m PBT
5% 10% UK Market Share Growth >£250m Attachment > Investment in brand awareness to drive increased holidays conversion Yield optimisation > Dynamic pricing to unlock richer margins New products & ancillaries > Introducing targeted products to attract new segments & increase average spend City £122m
Slide 8: Expect FY24 customer growth of >35%
Expect FY24 customer growth of >35% > Grow UK Market share from 5% to 7% > New source market holidays depart Strong start to FY’24 > Q1’24 ▪ £30 million profit, +131% YoY ▪ Customer growth +48% ▪ Dynamic inventory agreement with 900 hotels, >300 already live > Q2’24 ▪ 82% sold, margin per passenger