Slide 1: Quarter 3 Interim Management Statement
Quarter 3 Interim management Statement 3 months to 30th June 2012 25th July 2012 1 1
Slide 2: Strong Q3 performance - in a difficult market
Strong Q3 performance - in a difficult market Revenue growth in line with expectations • Constant currency RPS growth +4.7%; Reported RPS growth +2.8% • Strong performance in France and Switzerland • Load factors improved by 2.8 ppt to 89.1% • Capacity constraint across the market (flat capacity in
Slide 3: Revenue in line with guidance
Revenue in line with guidance Q3 ‘12 Q3 ‘11 Change Passengers (m) 16.0 14.4 10.9% Load factor (%) 89.1% 86.3% 2.8ppt Seats (m) 17.9 16.7 7.5% Sector length (km) 1,101 1,118 (1.5)% Total revenue (£m) 1,033 935 10.5% Total revenue per seat (£) 57.58 56.02 2.8% @ constant currency (£) 58.65 56.02 4.7%
Slide 4: Continued good revenue performance
Continued good revenue performance Q3 ‘12 Q3 ‘11 Change @ cc Seat revenue (£m) 1,016 918 10.7% 12.7% per seat (£) 56.62 54.97 3.0% 4.9% Non-seat revenue (£m) 17 17 (1.4)% 2.7% per seat (£) 0.96 1.05 (8.2)% (4.5)% RPS and capacity changes Seats flown RPS 17.1% 14.6% 11.8% 9.2% 7.3% 6.9% 7.5% 5.2% 2.8
Slide 5: Successful mobile app launch
Successful mobile app launch Mobile app introduced in December 2011 • 2.1 million downloads to date Mobile app downloads 2.0 1.7 • £20 million revenue 1.4 1.1 • Now exceeding 2% of sales 0.6 0.9 0.3 First phase (iPhone & Android) Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Book a flight Cha
Slide 6: Allocating capacity to improve returns
Allocating capacity to improve returns Capacity being allocated to the routes which will deliver optimal returns and growth France: • Capacity growth of 13%; increasing share • New regional bases in Nice & Toulouse performing well Switzerland: • Capacity growth of 13% • RPS above average and improvi
Slide 7: Monitoring returns at major network points
Monitoring returns at major network points Relative attractiveness vs. returns of major network points Liv’pool Attractiveness rating Madrid FY Returns (Network touching)* Framework for evaluating network • Robust data led process for reviewing returns across network • Action taken to improve perfor
Slide 8: Contribution per aircraft
Contribution per aircraft Contribution by aircraft for year to 31 st March’12 (At request of easyGroup) Oldest Youngest Oldest Youngest Aircraft Aircraft Aircraft Aircraft A320 A319 Boeing Aircraft are deployed around network to maximise overall returns Most aircraft earn average returns A320
Slide 9: Hedging update
Hedging update Percentage of anticipated requirement Fuel US Dollar Euro hedged requirement requirement requirement Three months ending 30 September 2012 85% 79% 76% Rate $982/MT $1.59 €1.15 Full year ending 30 September 2012 79% 79% 77% Rate $964/MT $1.59 €1.14 Full year ending 30 September 2013 77
Slide 10: Forward bookings broadly in line with last year
Forward bookings broadly in line with last year 89% 86% 76% 77% FY'11 FY'12 Q3 Jul Aug Sep H2 Strong demand in late market % Seats sold as at 22nd July 2012 10
Slide 11: Outlook
Outlook Capacity (seats flown) • H2: +7% (if no significant disruption) • FY: +5% (if no significant disruption) Revenue per seat (constant currency) • H2: low to mid single digits Cost per seat ex fuel (constant currency) • H2: up 1% to 2% (assuming no significant disruption) “•The continued strong
Slide 12: Appendices
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Slide 13: Continued robust operational performance
Continued robust operational performance On-time performance - arrivals within 15 minutes1) 2011 2012 88% 88% Strong on-time 87% 87% 85% 84% 84% performance enables 82% • efficient operation • enhances customer satisfaction Apr May June Q3 OTP - rolling 12 months flights stats.com2) 87% 87% • Best i
Slide 14: Line of flying: assumptions and methodology
Line of flying: assumptions and methodology • All revenue generated by Line of Flying (LOF) • Contribution is a defined measure within easyJet which recognises specific costs which are routed to LOF • All costs derived from routed costs by month and then back calculated across each flight in month f
Slide 15: Disclaimer
Disclaimer This communication is directed only at (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (ii) high