Alliance Aviation Services Limited · ASX:AQZ
Alliance Aviation Services — FY2012 Earnings Presentation
19 slides from Alliance Aviation Services's earnings presentation, Aug 20, 2012
Slide 1: Annual Results Year ended 30th June 2012
Annual Results Year ended 30th June 2012 Scott McMillan, Managing Director Jeff Childs, Chief Financial Officer 20th August 2012 0
Slide 2: Disclaimer
Disclaimer Reliance on third party information This presentation was prepared by Alliance Aviation Services Limited (ACN 153 361 525) (“Alliance”). This presentation may contain information that has been derived from publicly available sources that have not been independently verified. No representa
Slide 3: FY2012 result highlights
FY2012 result highlights Outperformed Pro forma NPAT prospectus. Revenue increased to $184.2 million up 44.4% (FY11: $127.6 million) Pro forma EBITDA increased 36% to $49.3 million (FY11: $36.3 million) Pro forma NPAT increased 43% to $19.1 million (FY11: $13.4 million). Statutory NPAT of $1
Slide 4: Business update
Business update Alliance is on track for continued growth Spare capacity in the FIFO fleet continues to be utilised in shorter term operating contracts Geographic coverage continues to grow: services from Melbourne (Essendon) are now Continued operational increasing and a base in Darwin will be
Slide 5: Comparative data
Comparative data FY12 FY11 Variance Average aircraft in service 21 16.3 29% Flight Hours 27,139 17,608 54% Total Flights 20,109 12,960 55% Average Staff Numbers 425 330 29% EBITDA per Aircraft in service $2,347,619 $2,298,405 2% Revenue per Employee $433,412 $386,667 12% EBITDA per Employee $116,000
Slide 6: Components of revenue growth FY11 – FY12
Components of revenue growth FY11 – FY12 Revenue, FY11 - FY12 14.7 2.1 184.2 200 39 8.8 -8 150 127.6 Revenue, $ million 100 50 0 FY 12 Charter FY11 Fuel Pass- Through FIFO Other Wet Lease 5
Slide 7: Strong earnings growth continues
Strong earnings growth continues Pro forma profit & loss statement Key observations % Strong growth in revenue up 44.4% to $184.2 million FY2012 IPO FY2011 pcp (FY11: $127.6 million) ($ in millions) Actual Forecast Change Revenue Contract revenue increased to 77.7% of total revenue FIFO 143.1 14
Slide 8: Pro forma profit reconciliation
Pro forma profit reconciliation Pro forma adjustments to the profit & loss statement Key observations FY2012 FY2012 FY2011 % Operating expenses have been adjusted to remove ($ in millions) Actual Prospectus Actual Change the impact of fees and expenses associated with Statutory NPAT 19.6 16.5 20.8
Slide 9: Balance sheet
Balance sheet Balance sheet Key observations ($ in millions) FY2012 FY2011 Stronger balance sheet post IPO Cash 0.4 0.3 Receivables 26.5 10.7 Deferred tax reflects new group structure Inventory 8.2 6.3 Total current assets 35.1 17.3 PP&E 179.0 160.2 Equity reflects: Other assets 1.5 – Deferred
Slide 10: Cashflow statement
Cashflow statement Cashflow statement Key observations FY2012 FY2011 Positive cash flow from operations of $25.3 million ($ in millions) Receipts from customers (inclusive of GST) 197.0 144.0 Capex of $36.1 million reflects accelerated aircraft Payments to suppliers (inclusive of GST) (159.6) (1
Slide 11: Summary and outlook
Summary and outlook 1 Delivered on all prospectus commitments 2 FIFO market continues to grow Alliance’s market position and enhanced geographic footprint provides it with a 3 strong platform to continue to capture growth opportunities 10
Slide 12: Appendix
Appendix 11
Slide 13: Strong Growth Outlook in Australian FIFO Market
Strong Growth Outlook in Australian FIFO Market In a study of known metal mine projects only, Catapult Partners has forecast annual FIFO revenue to be approximately $1.7 billion in five years. This is based on a sample of 175 known metal mine projects (likely to be serviced by FIFO) and represents a
Slide 14: Key Alliance Competitive Advantages
Key Alliance Competitive Advantages 1 Requisite regulatory approvals and infrastructure requirements Knowledge, capital and capability to provide tailored air transportation services to the 2 market Reputation as highly capable and competent FIFO service provider to satisfy stringent 3 performance c
Slide 15: Growing national footprint
Growing national footprint Alliance route map National footprint provides the ability to be responsive Cairns and flexible Offices (engineering support and crew) Line maintenance Currently services mining and Townsville energy projects throughout Offices Australia from five key airports
Slide 16: Fleet Development Strategy
Fleet Development Strategy Operational characteristics of aircraft key to meet clients’ requirements: − Aircraft: preference for jets over turbo-props − Fleet: suited to operate under Australian climatic conditions − Range: minimise requirement for stops to re-fuel Optimised capital intensity of
Slide 17: Maintenance capabilities
Maintenance capabilities Alliance in-house heavy maintenance capability is a key competitive advantage − Ensures total control over maintenance quality which reflects in Alliance’s industry leading despatch reliability − Optimises availability of aircraft − Cornerstone of employee pride in the fle
Slide 18: Alliance fleet
Alliance fleet Fokker 100 Fokker 70LR Fokker 50 Number 18 2 6 Capacity 100 passengers 75 passengers 52 passengers Cruising speed 800 kph 800 kph 500 kph Maximum range 3,167 km 3,500 km 2,600 km Two Pratt & Whitney PW Two Rolls-Royce TAY 650-15 Two Rolls-Royce TAY 620-15 125B turboprops (2,500 SHP) E
Slide 19: Platform for Growth
Platform for Growth Continued focus on safety, quality and on-time performance. Focus on organic FIFO growth. Continued expansion of customer base. Enhanced geographical presence. Fleet expansion. Significant engineering capacity. 18
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