Norwegian Air Shuttle Asa · OSL:NAS

Norwegian Air Shuttle Asa — Q1 2009 Earnings Presentation

13 slides from Norwegian Air Shuttle Asa's earnings presentation, Apr 23, 2009

  1. Slide 1: Norwegian Air Shuttle ASA 1st Quarter Presentation

    Norwegian Air Shuttle ASA 1st Quarter Presentation April 23rd 2009 CEO Bjørn Kjos

  2. Slide 2: Continued strong revenue growth in Q1

    Continued strong revenue growth in Q1 • Group revenues of MNOK 1,387 in Q1 2009, 27 % growth since last year – Domestic Revenue: MNOK 606 (+ 39 %) – International Revenue: MNOK 781 (+ 20 %) MNOK 1 600 + 27 % 1 400 1 200 1 000 800 600 400 200 0 Q1 06 Q1 07 Q1 08 Q1 09 Revenue (MNOK) 539 738 1 089 1 3

  3. Slide 3: Net result improved by 101 million in Q1

    Net result improved by 101 million in Q1 • EBITDAR result improved by 194 million • EBITDA result improved by 124 million • Group earnings after tax of MNOK -109 (MNOK -211) – Includes MNOK 35 in start-up costs in Copenhagen EBITDAR development Q1 EBITDA development Q1 09 MNOK 100 MNOK 100 50 50 44

  4. Slide 4: MNOK +41 net change in Cash and Cash Equivalents in Q1

    MNOK + 41 net change in Cash and Cash Equivalents in Q1 • Cash Flows from Operations in Q1 2009 MNOK +125 (+14) • Cash Flows from Investing Activities in Q1 2009 MNOK - 81 (- 63) • Cash Flows from Financing Activities in Q1 2009 MNOK - 4 (- 6) • Cash and cash equivalents at period-end MNOK 649 (447)

  5. Slide 5: Strong balance sheet

    Strong balance sheet • Equity decreased from MNOK 897 at the beginning of the year to MNOK 791 at the end of the first quarter – Primarily due to the Q1 operating loss • Group equity ratio of 22 % (22 %) (NOK 1 000) Q1 09 Q1 08 2008 Total borrowings 683 678 297 947 698 330 Cash and cash equvalents 6

  6. Slide 6: Production growth of 23% in Q1

    Production growth of 23% in Q1 • 75 % load factor in Q1 09 - down two percentage points from last year – New base in Copenhagen – More domestic and business production ASK (mill) 4 000 100 % 90 % 3 500 77 % 77 % 80 % 75 % 75 % 3 000 70 % 2 500 60 % ASK Total* 2 000 50 % Load Factor 40 % 1 500 30 % 1

  7. Slide 7: More than 2 million passengers in Q1 (+108,000 pax)

    More than 2 million passengers in Q1 (+ 108,000 pax) • Domestic passenger growth: + 25 %* • International passenger growth: - 8% Pax 2 500 (000) +5 % 2 000 1 500 International Passengers Domestic Passengers 1 000 500 0 (000) Q1 06 Q1 07 Q1 08 Q1 09 Total Passengers 1 014 1 303 1 997 2 105 Domestic P

  8. Slide 8: Increasing Domestic Market Share

    Increasing Domestic Market Share • 25 % passenger growth • 12 new domestic routes in Q1 2009 compared to Q1 2008 • Stable 44 % market share on key domestic routes* – Capacity reduction during seasonaly weak winter months 50 % 48 % 47 % 46 % 45 % 44 % 43 % 43 %43 % 43 %43 % 42 % 40 % Q1 06 38 % 37 %

  9. Slide 9: Unit Cost Down 8 %

    Unit Cost Down 8 % • Unit cost of 0.56 in Q1 – Down 8 % since last year • Unit cost ex. fuel was 0.45 - Up 1 % since last year – Negative currency effects (leasing, handling charges, airport charges, technical expenses) NOK 0,70 0,65 0,63 0,60 0,60 0,13 0,56 0,56 0,55 0,16 0,50 0,11 0,11 Fuel share

  10. Slide 10: Significant growth in ancillary revenue

    Significant growth in ancillary revenue • Strong focus and improved products NOK 80 40 % 70 60 50 40 30 20 10 0 (pr. pax) Q1 07 Q1 08 Q1 09 Ancillary Revenue 27 52 72 All figures excluding norwegian.se

  11. Slide 11: Fleet update 2009

    Fleet update 2009 • Redelivery of the remaining MD-80 aircraft during 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 50 45 45 44 44 43 1 4 40 5 40 5 35 28 30 28 28 MD-80 25 28 Boeing 737-300 28 Boeing 737-800 2

  12. Slide 12: 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 625 per ton • Currency dependent – USD/N

  13. Slide 13: Norwegian offers 175 routes to 83 destinations

    Norwegian offers 175 routes to 83 destinations

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