Latam Airlines Group Sa · BCS:LTM
Latam Airlines Group Sa — Q1 2025 Earnings Presentation
14 slides from Latam Airlines Group Sa's earnings presentation, Apr 29, 2025
Slide 1: Results Presentation First Quarter 2025
Results Presentation First Quarter 2025 April 29, 2025
Slide 2: Disclaimer
Disclaimer Neither the United States Securities and Exchange Commission (“SEC”) nor the Chilean Comisión para el Mercado Financiero (the “CMF”) nor any securities commission of any other U.S. or non-U.S. jurisdiction has reviewed, approved or disapproved of this Presentation, or determined that this
Slide 3: LATAM group begins 2025 with strong results, reaffirming operational and financial resilience
LATAM group begins 2025 with strong results, reaffirming operational and financial resilience Strong operational Solid financial results Looking to the future performance • Transported over 21 million • 16.8% 1Q-25 adjusted • Almost US$450 million passengers. operating margin, +2.9pp vs allocated to
Slide 4: Solid capacity growth with sustained demand and healthy load factors
Solid capacity growth with sustained demand and healthy load factors ASK (billion) Load Factor (%) Passengers (million) RASK (US$ cent) 38.5 41.3 84.4% 83.3% 20.2 21.0 7.5 7.1 Consolidated +7.3% -1,1pp +3.6% -5.3% 1Q-24 1Q-25 1Q-24 1Q-25 1Q-24 1Q-25 1Q-24 1Q-25 11.9 12.4 80.9% 80.8% 8.5 8.8 8.4 7.3
Slide 5: Customer satisfaction reaches new highs, supported by product and service investments
Customer satisfaction reaches new highs, supported by product and service investments 50+ million members Customer satisfaction (NPS): Revamped LATAM Pass — more options for earning and redeeming miles, and greater ease of access to Elite Status. Passenger operations (points) Almost 90% of the narro
Slide 6: LATAM group's record operational results drove a historic net income for the first quarter of 2025
LATAM group's record operational results drove a historic net income for the first quarter of 2025 Adj. operating income Adj. EBITDAR Net income US$573 + 23.9% US$962 + 20.9% US$355 + 37.6% million vs 1Q 2024 million vs 1Q 2024 million vs 1Q 2024 Income Statement (US$ million) 1Q-2024 1Q-2025 Change
Slide 7: Consistent execution of LATAM group's cost containment strategy reflected in stable unit metrics
Consistent execution of LATAM group's cost containment strategy reflected in stable unit metrics Digital, data and technology Business simplification Fleet initiatives Adj. Passenger CASK ex Fuel US$4.0 cents (US$ cents) in 1Q25 4.2 4.3 4.2 4.1 2019 2023 2024 LTM 1Q25 Adjusted figures exclude other
Slide 8: Consistent EBITDAR growth over twelve months driven by efficiency and network strength
Consistent EBITDAR growth over twelve months driven by efficiency and network strength Last Twelve Months Adj. EBITDAR (US$ billion) 25.0% 23.8% 22.6% 3.3 22.4% 22.2% 3.1 2.9 2.8 2.8 1Q-24 2Q-24 3Q-24 4Q-24 1Q-25 Adjusted figures exclude other gains and losses, expenses related to the Corporate Ince
Slide 9: US$189 million net cash generation in 1Q25 supported by lower financing costs post-refinancing
US$189 million net cash generation in 1Q25 supported by lower financing costs post-refinancing Adj. Cash Flow 1Q 2025 (US$ million) 585 (128) 2,146 (236) (24) (8) 1,958 189 Initial Cash Adj. Operating Cash Maintenance CapEx Growth CapEx Financial Interest Adj. Financial Ending Cash 1Q-25 2025 Flow E
Slide 10: Continuous cash generation drives solid liquidity and lowest net leverage on record
Continuous cash generation drives solid liquidity and lowest net leverage on record Liquidity (US$ million) Credit Rating 27.1% 28.4% Upgrades 23.9% 3,533 3,721 S&P Global Ratings: 2,814 BB, Stable Outlook 1,958 2,146 1,714 Fitch Ratings: 1,575 1,575 BB, Positive Outlook 1,100 2023 2024 1Q25 Liquidi
Slide 11: Returning almost US$450 million to shareholders through dividends and share repurchase program
Returning almost US$450 million to shareholders through dividends and share repurchase program Dividend distribution • Shareholders' Meeting held on March 24, 2025, approved the US$293 million dividend distribution paid on April 22, 2025, equivalent to 30% of 2024 net income. Share repurchase progra
Slide 12: LATAM group raises its guidance for the full year 2025
LATAM group raises its guidance for the full year 2025 Indicator Guidance 2025E 2025E Updated Operating Indicators Total ASK Growth vs 2024 7% - 9% 7.5% - 9.5% Domestic Brazil ASK Growth vs 2024 6% - 8% 7.0% - 9.0% Domestic Spanish Speaking Countries ASK Growth vs 2024 4% - 6% 2.0% - 4.0% Internatio
Slide 13: Takeaways
Takeaways Strong start to the Over 21 million passengers transported during the quarter with 7.3% year-over-year capacity growth, reflecting both operational agility and sustained demand across our network. year US$355 million in net income and US$962 million in adjusted EBITDAR, supported by lower
Slide 14: Results Presentation First Quarter 2025
Results Presentation First Quarter 2025 April 29, 2025