Aegean Airlines Sa · ATHEX:AEGN
Aegean Airlines Sa — Aegean Airlines Ord — Q4 2024 Earnings Presentation
18 slides from Aegean Airlines Sa's earnings presentation, Mar 10, 2025
Slide 1: FY 2024 and Q4 2024 Financial Results Presentation
FY 2024 and Q4 2024 Financial Results Presentation March 2024
Slide 2: Milestones
MILESTONES • Consolidated revenue in 2024 reached €1,78 bil., up 5% compared to 2023, driven by network expansion, significant capacity investment and strong passenger traffic. • Efficient and competitive cost structure. • AEGEAN achieved a record-high EBITDA of €405,3 mil., marginally better compar
Slide 3: Record-high passenger traffic and EBITDA in FY
AEGEAN achieved a record-high passenger traffic and EBITDA in FY RPKs (in mil.) ASKs (in mil.) Passengers (in ‘000) Load Factor 21.120 20.087 84,8% 83,5% 82,5% 17.410 18.596 16.704 16.324 15.768 15.463 14.992 FY-19 FY-23 FY-24 FY-19 FY-23 FY-24 FY-19 FY-23 FY-24 FY-19 FY-23 FY-24 + 4% + 5% + 6% + 10
Slide 4: EU market capacity reaching 2019 levels but GR +28%
EU market capacity reaching now at 2019 levels but GR +28% European Capacity evolution, Billion Seats 5.3% CAGR 0% 1,4 1,27 1,31 1,3 1,21 1,22 1,2 1,13 1,09 1,06 0,96 1 1 +6.5% 0,8 0,66 0,57 0,6 0,4 0,2 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 GREECE Capacity evolution, Million
Slide 5: Solid revenue trends and high operating profitability in weak Q4
Solid Revenue trends and high levels of operating profitability in the seasonally weak Q4. Total Passengers (in ‘000) Domestic Passengers (in ‘000) International Passengers (in ‘000) 3.740 2.243 3.504 2.123 1.497 1.381 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 + 7% + 8% + 6% Total Passengers (in ‘000) Dom
Slide 6: Record EBITDA profitability and top tier margins
Record EBITDA profitability and top tier margins EBITDA Margin EBIT Margin EBT Margin 15% 24% 23% 13% 13% 21% 9% 9% 8% FY-19 FY-23 FY-24 FY-19 FY-23 FY-24 FY-19 FY-23 FY-24 Key financial and operating metrics as a percentage of the corresponding results for the period of 2019. 2019 2023 2024 ASKs 10
Slide 7: Strong Balance sheet
Strong Balance sheet Cash & Cash Equivalents Debt (€ mil.) (€ mil.) 814,4 706,3 516,9 527,9 383,6 268,2 198,7 220,3 FY 2019 FY 2022 FY 2023 FY 2024 FY 2019 FY 2022 FY 2023 FY 2024 (amounts in EUR mil.) FY 2019 FY 2023 FY 2024 Cash and Cash Equivalents1 517 706,3 769 Debt2 199 220,3 384 Leases (IFRS
Slide 8: Cash Flow Bridge
Cash Flow Bridge *Net Capex: Includes purchases of tangible assets of €61,6mil. Advances for the acquisition of assets of €7,1 mil. and Sales of tangible assets of €44,2mil. Amounts in € mil. Pdps: Pre-Delivery payments 8 Financial Investments: including purchase of treasury shares.
Slide 9: Fleet Program Driving Efficiency / Quality
Fleet Program Driving Efficiency / Quality 28 A320/321 NEO aircraft received + 22 aircraft pending mostly A321 NEO! 84 aircraft as of Feb-25 Fleet Evolution 33 Deliveries Total 34 A320 neo family A320 ceo family 2019 1 2020 7 20 14 29 4 A320 neo A321 neo A320 ceo A321 ceo 2021 1 2022 10 2023 9 2024
Slide 10: Passenger Traffic
21,5 mil. Passenger Traffic seats will be offered in 2025 January - February 2025 +9% increase Ι +1.8 mil. seats 1,9 mil. 13 mil. passengers seats on the international network +9% increase in 2025 +11% increase Ι +1.4 mil. seats compared to 2024 Jan. - Febr. 2025 Jan. - Febr. 2024 % change Total Pas
Slide 11: CEO commentary
Mr. Dimitris Gerogiannis, CEO of AEGEAN, commented: “The successful execution of our strategy to increase capacity during off-peak months and the desirability of our services for both Greeks and visitors to the country contributed to this excellent performance. Challenges from the restrictions to th
Slide 12: Appendix
Appendix
Slide 13: Hedging Coverage
Hedging Coverage Managing exposure to reduce volatility on results and target cost certainty Hedging rate % Year Jet Fuel 2025 59% 2026 15% Hedging rate % Year US dollars* 2025 48% 2026 32% Note: Including cashflow and non cashflow hedges as % of total USD expenses 13
Slide 14: AEGEAN at a glance
AEGEAN at a glance Fourth Quarter Fourth Quarter % % (in € mil.) 2023 2024 change Full Year 2023 Full Year 2024 change Revenue 361,4 397,4 10% 1.693,1 1.777,3 5% EBITDA1 33,0 75,4 129% 400,4 405,3 1% EBIT (6,9) 27,6 - 246,8 227,1 -8% Pre-tax Profit/(Loss) (2,2) (6,5) 192% 214,8 164,0 -24% Net Profit
Slide 15: Profit and Loss Account
Profit and Loss Account Fourth Fourth (in € mil.) Quarter Quarter % Full Year Full Year % 2023 2024 change 2023 2024 change Scheduled Services 309,5 343,9 11% 1.442,6 1.544,4 7% Charter 17,8 11,0 -38% 93,8 57,1 -39% Other 34,2 42,5 24% 156,7 175,9 12% Total Revenue 361,4 397,4 10% 1.693,1 1.777,3 5%
Slide 16: Balance Sheet Aegean Group
Balance Sheet Aegean Group (in € mil.) 31.12.2023 31.12.2024 Total Fixed Assets 1.477,63 1.812,0 Cash & Cash Equivalents1,3 576,2 578,1 Financial Assets Available for Sale2 130,03 191,0 Other Current Assets 264,0 293,3 Total Assets 2.447,9 2.874,4 Total Equity 418,8 499,4 Lease Liabilities 901,2 1.0
Slide 17: Cash Flow Aegean Group - Summary
Cash Flow Aegean Group - Summary (in € mil.) 31.12.2023 31.12.2024 Net cash flows from operating activities 436,2 407,5 Net cash flows from investing activities (157,0) (118,2) Net cash flows from financing activities (92,1) (230,2) Net (decrease)/ increase in cash and cash equivalents 187,1 59,1 Ca
Slide 18: Group Operating Figures
Group Operating Figures Fourth Quarter Fourth Quarter % % 2023 2024 change Full Year 2023 Full Year 2024 change Capacity ASKs (in millions) 4.717 4.893 4% 20.087 21.120 5% Total available seats (‘000) 4.266 4.526 6% 18.630 19.790 6% Total Block Hours 46.912 49.469 6% 201.394 216.887 8% Total Sectors