Pt Garuda Indonesia (persero) Tbk Class B · IDX:GIAA
Pt Garuda Indonesia (persero) Tbk Class B — Garuda Indonesia — Q1 2019 Earnings Presentation
32 slides from Pt Garuda Indonesia (persero) Tbk Class B's earnings presentation, 2019
Slide 1: Garuda Indonesia Analyst Meeting Laporan Kinerja Q1 2019
Garuda Indonesia B) The Airline of Indonesia GARUDA INDONESIA Analyst Meeting Laporan Kinerja Q1 2019
Slide 2: Shares Information
Shares Information @ GIAA|) Equity - Last Price (Ri) 474 @ JCI index - Last Price (1) 6,468,755 6,800 « » 600 » 500 6,200 < 474 eines) > 400 5,800 <« 5,600 « » 300 5,400 « > 200 MAR" APR" M, WU juL " auG " SEP * ocT" Nov" D JAN B R” APR Mi UN J AUG P "ocr NOV” DE JAN * FEB” MAR 2017 2018 | 2019 | IN
Slide 3: Our Corporate Strategy
Our Corporate Strategy Corporate Culture Transformation through the Development of People, Process, and Technology Revenue Enhancement Redefine Cost Structure Based on Shared Service Organization
Slide 4: Human Capital Management
HUMAN CAPITAL MANAGEMENT Achievement in 2019 and Going Forward Synergy with Union Create Good Communication and Better Understanding between Management and Union PROGRAM DETAIL PROGRAM PERIOD Performance + Develop & Running Employee Performance Review 2018 a + Launching Employee Incentive Program 20
Slide 5: To Boost the Group Performance with Strategic Partnership
To Boost the Group Performance with Strategic Partnership —- Garuda Indonesia, via its subsidiary Citilink has reached agreement to have “Joint Operation” with Sriwijaya Group. This cooperation aims to improve the New Group’s operational and financial performance.
Slide 6: Passenger Tariff Adjustment in Q1/2019
Passenger Tariff Adjustment in Q1/2019 e Passenger Yield 39.7% & -2.8% W 55.9% & 149.5% A 97.8% a 10.8 1,488.5 tL 1,236.0 752.5 495.5 Garuda Indonesia Garuda Indonesia Citilink Sriwijaya Air Hes Air Domestic (US¢) International (US¢) (US¢) (IDR) (IDR) Q1/2018 Q1/2019 Q1/2018 Q1/2019 Q1/2018 Q1/2019
Slide 7: Cargo Tariff Adjustment in Q1/2019
Cargo Tariff Adjustment in Q1/2019 Cargo Yield 78.6% A 16.3% W 165.9% A 121.2% & 126.6% A 106.1 86:1 18,682.3 12,669.8 48.2 39.9 8,245.9 19.4 16.2 5,726.9 7 ° Garuda Indonesia Garuda Indonesia Citilink Sriwijaya Air NAM Air Domestic (US¢) International (US¢) (US¢) (IDR) (IDR) Q1/2018 Q1/2019 Q1/2018
Slide 8: Adjust the Capacity and Manage Our Group's SLF Improves
Adjust the Capacity and Manage Our Group’s SLF Improves . oe | | in Milli Passenger Carried & SLF ree 219% W 2.3% W 27% W 274% W -25.4% W 44 | -4.2ppts. | ropes ' Vv : -4,9ppts. } : . | 4 ' 18 Garuda Indonesia Garuda Indonesia Citilink Sriwijaya Air NAM Air Domestic International Q1/2018 Q1/2019 Q1/
Slide 9: To Control Fuel Expenses Through Capacity Adjustment
To Control Fuel Expenses Through Capacity Adjustment. ONNEB 1 - 2019 ASK & Fuel Burn o1-2018 Available Seat Kilometers (ASK) in Billion WV -24.3% A 2.7% Vv 15% WV 37.3% WV -34.6% ae Ff 5.6 27 0.6 Fuel Burn in Million Liter W -261% Vv -1.0% V -4.7% W -26.6% WV -42.5% a me 204 242.8 104.0 167.7 17.8 G
Slide 10: The Unit Cost Hikes, Mainly Driven By Maintenance Expenses
The Unit Cost Hikes, Mainly Driven By Maintenance Expenses ONNEB 1 - 2019 CASK & CASK excl. Fuel tore CASK A 16.3% A 2.0% A 11.9% A 82.6% A 65.1% 7.0 5.4 48 665.9 656.9 CASK excl. Fuel A 20.6% A 19% A 23.9% A 115.8% A 107.6% sa: = = mm 4.9 3.7 29 392.9 299.9 Garuda Indonesia Garuda Indonesia Sriwija
Slide 11: Financial Improvement Has Started In Q1/2019
Financial Improvement Has Started In Q1/2019 > Garuda Indonesia Teter of rae Garuda Indonesia Group — (in Million USD) Operating Revenue Q1 Yo (%) NIA 1,099.6 983.0 Operating OB 1-209 Income _ a 49.5 (662) Q1 YoY (%) 174.9 & G Srovyaya Air Sriwijaya Group ———— (in Billion 1DR) Q1 YoY (%) 43.74 a 99.
Slide 12: The Bottom Line Is Also Improved In Q1/2019
The Bottom Line Is Also Improved In Q1/2019 > Garuda Indonesia Teter of rae Garuda Indonesia Net Income a 19.7 OB 2-209 EBITDAR 7“ Group (in Million USD) Q1 YoY (%) Q1 YoY (%) 130.7 A 60.3 A G yaya Air | “i os Srowyaya Air ial (843) [| (75) [ Group (in Billion IDR) Q1 YoY (%) Q1 YoY (%) 108.5 & 1,09
Slide 13: The New Group's Fleet Structure
The New Group's Fleet Structure Oe BOEING 777-300ER 0 13h 141 201 ESIREUS A3305200 7 WIDEBODY GARUDA — GARUDA AIRBUS A330-300 ~ 17 INDONESIA INDONESIA 107 BOEING 737 MAX 8 NARROW BODY eal amy ‘BOEING 737-800NG 35 51 I eeccee ell SRIWIJAYA —— SRIWIJAYA BOEING 737-500 _ AIR GROUP BOEING 737-500 nN 16
Slide 14: Our Target & Initiatives in 2019
Our Target & Initiatives in 2019 Financial Performance Currency Exchange (Consolidated) Target 2019 ¢ Revenue USDS5,é4 billion * 16.000 IDR/USD ¢ Net Profit USD71,0 million tauBeres® gelk @spPs 4 — = Initiatives ew : i Garuda Energi Garuda Daya 2019 Freighter Go-Excellent Logistic & Komersial Pratam
Slide 15: Our SOEs Synergy By Creating A Holding Company As An Integrated Logistics Player
Our SOEs Synergy By Creating A Holding Company As An Integrated Logistics Player Synergy in Logistic Business Cargo Business Entities Owned by Holding Member ), wR ANGKASA mura” >» Aerowisata AngkasaPura | Locistics Garuda Indonesia KARGO RERCAASAET DRE RE O------------------------ O------- === ---
Slide 16: Garuda Indonesia: Cargo Strategy 2019
Garuda Indonesia: Cargo Strategy 2019 To Be Air Cargo Operator & Logistics Provider by Providing Value to Customer, Improve Safety and Productivity —C STRATEGIC DIRECTION >) Vv Vv Vv Vv GO-FREIGHTER GO-LOGISTIC GO-EXPRESS GO-EXCELLENT Develop Cargo Freighter to Seamless Logistics Improving First Mil
Slide 17: MRO New Initiatives
MRO New Initiatives gelkd @ GARUDA P Provide tire retread Provide engine Procurement & trading Provide skilled Airframe maintenance Provide Aircraft facility & distribution repair/overhaul for aviation business, manpower and services & aerospace park Leasing services in cooperation with OEM, __ serv
Slide 18: MROs Strategic Partnership
MROs Strategic Partnership MMMM MMMM Garuda Indonesia The Aire of indonesia | > GMF PeroAsia GARUOA INDONESIA GROUP | Batam SB nero Technic UL — CAS nooesura | | WML sie AIRFRANCE / KLIVI INDUSTRIES Engineering & ‘Maintenance | MM 18
Slide 19: Appendix
Appendix
Slide 20: Improves the Group's Profitability by 130.7% in 1Q19
Improves the Group's Profitability by 130.7% in 1Q19 (currency in million USD, except stated otherwise) INDICATOR 201 %YO' REVENUE EBITDAR 232.3 372.5 A 60.3 Scheduled Airline Service 828.5 924.9 A 1.6 Non-Scheduled Airline Service 19.8 2.9 Vv (85.5) Others* 134.7 111.8 A 27.5 EXPENSES Fuel 316.0 28
Slide 21: The Group Took On-Board 7.7 Million Flytizen In Q1/2019
The Group Took On-Board 7.7 Million Flytizen In Q1/2019 (currency in million USD, except stated otherwise) INDICATOR 201 201 %YO' OPERATIONAL Utilization (Hour) 9:41 7:51 Vv (1:50) On-Time Performance (%) 89 91.9 A 29pp ASK (Billion) 16.4 15.2 v (73) Seat Load Factor (%) TA 72.3 A 10pp Cargo Uplifte
Slide 22: Domestic Market Starts to Improve; International Still Needs Improvement
Domestic Market Starts to Improve; International Still Needs Improvement Note: All numbers and figures represent only for Garuda Indonesia (Main Brand) INDICATOR Q1201 Q12019 %YO' DOMESTIC Passenger Carried (Million) 4k 3.5 Vv (21.9) ASK (Billion) 5.6 42 vw (24.3) Seat Load Factor (%) 69.7 723.3 A 3
Slide 23: GIAA and Peers
GIAA and Peers Source: Company Data & AAPA International Statistic, YTD February 2019 PASSENGER CARRIED GROWTH AVAILABLE SEAT KILOMETERS (ASK) GROWTH China Southern Airlines 198 China Southern Airlines 812.0 Malaysia Airline 183 Malaysia Airline 186 Singapore Airlines 076 Singapore Airlines TEX Qant
Slide 24: To Improve Group's Performance Through Tariff Adjustments in Q1/2019
To Improve Group's Performance Through Tariff Adjustments in Q1/2019 INDICATOR 201 201 GARUDA INDONESIA Passenger Carried (Million) 5.6 4.6 Vv (17.7) ASK (Billion) 13.0 19 Vv (8.8) Seat Load Factor (%) 70.2 71.0 A 08pp Revenue Passenger 619.0 648.3 A 47 passenger il (56) ee Average Fares (US$) 109.7
Slide 25: Sriwijaya Group Operational Performance
Sriwijaya Group Operational Performance INDICATOR 201 201 SRIWIJAYA GROUP Passenger Carried (Million) 3.2 2.3 v (26.9) ASK (Billion) 3.3 24 Vv (36.8) Seat Load Factor (%) 78.0 73.6 Vv (4.4) pp Revenue Passenger (Bio, IDR) 1,409.3 1,992.5 A 414 Average Fares (Thousand, IDR) 447.0 865.0 A 93.5 Cargo/M
Slide 26: Sriwijaya & NAM Air Operational Performance
Sriwijaya & NAM Air Operational Performance INDICATOR 201 201 SRIWIJAYA AIR Passenger Carried (Million) 24 1.8 Vv (27.4) ASK (Billion) 27 17 Vv (37.3) Seat Load Factor (%) 78.5, 74.3 Vv (4.2) pp Revenue Passenger (Bio, IDR) 1,063.7 1,574.3 A 48.0 Average Fares (Thousand, IDR) 438.6 894.1 A 103.8 Car
Slide 27: To Manage Our Operational Expenses Through Capacity Adjustment
To Manage Our Operational Expenses Through Capacity Adjustment (currency in million USD, except stated otherwise) INDICATOR 20 % YoY Po Fuel 286.1 Vv (9.4) 27.2 Rental 267.7 A 2.9 25.5 Maintenance 118.6 A 19.8 11.3 Others 377.6 Az 1.0 36.0 Total Expenses 1,050.1 A 0.1 100.0 PoC: Percentage of Contri
Slide 28: Equity Improves by 8.3% YoY; Net Debt/EBITDAR Ratio Improves to be 7.1 Times
Equity Improves by 8.3% YoY; Net Debt/EBITDAR Ratio Improves to be 7.1 Times (currency in million USD, except stated otherwise) INDICATOR FY 2 201 % Ch ASSET Current Assets 1,092.9 1,253.1 A 14.7 Non Current Assets 3,074.7 3,075.5 A 0.0 Total Assets 4,167.6, 4,328.6 A 3.9 LIABILITY Current Liabiliti
Slide 29: Managing Our Liquidity With Positive Operating Cash USD 211.8 Million
Managing Our Liquidity With Positive Operating Cash USD 211.8 Million (currency in million USD, except stated otherwise) 2019 %YO' 251.2 211.8 (1.7) INDICATOR Beginning Cash (18.2) 680.3 98.3 (193.7) Cash from Operating Activities Cash from Investing Activities Cash from Financing Activities (125.1)
Slide 30: FY2018 Q1 2019
2,200.0 2.5 1,700.0 2.2 2.0 1,200.0 1.7 1.5 700.0 200.0 1.0 FY2018 Q1 2019 (300.0) 0.5 30
Slide 31: The Subsidiaries Revenues USD343.3 Million, Contributed 31.2% of Total Group
The Subsidiaries Revenues USD343.3 Million, Contributed 31.2% of Total Group Citilink Sr owes Aerowisata INDICATOR Q12019 % Chg. Q12019 % Chg. Q12019 % Chg) In Thousand USD In Thousand USD In Million IDR Revenue Contribution to Group (%) 21.1 5.4 3.5 Operating Revenue 206,587.33 & 36.6 120,176.1 & 3
Slide 32: Thank You
Thank You Investor Relations Ground Floor, Garuda Indonesia Management Building Soekarno-Hatta International Airport Tangerang - 15111, Indonesia PO BOX 1004 TNG BUSH email: investor@garuda-indonesia.com