Slide 1: Q1 2018 Analyst & investor presentation
Q1 2018 Analyst & investor presentation 23 January 2018
Slide 2: Strong start in 2018
Strong start in 2018 Strengthening our market positions across the network Network Q1 RPS @ CC up 6.6% - positive underlying revenue trend Cost Underlying cost performance is strong and in line with full year guidance Customer Investment in resilience delivered improvements in On Time Performance Di
Slide 3: Q1 - Key Financial Information
q1 - Key Financial Information Q1 ’18 Q1 ’17 Change* Passengers (m) 18.8 17.4 8.0% Load factor (%) 92.1 90.0 2.1ppts Seats flown (m) 20.4 19.3 5.5% Passenger revenue (£m) 913.8 808.9 13.0% Ancillary revenue (£m) 226.3 188.0 20.4% Total revenue (£m) 1,140.1 996.9 14.4% Total revenue per seat (£) 55.9
Slide 4: H1 capacity – excluding Tegel
H1 capacity – excluding tegel Short haul market growth easyJet growth across the network 8.7% easyJet H1 FY17 8.3% Location growth H1 FY18 7.6% UK 4.8% 6.0% 5.7% Switzerland 9.6% 5.1% 3.5% France 6.3% 2.4% Amsterdam 5.0% Venice 11.1% Capacity change Competitors on Capacity Change easyJet capacity to
Slide 5: RPS - Strong start to 2018
RPS - Strong start to 2018 Q1 2018 Q1 2018 Headline Reported Constant currency 7.1% 5.3% Passenger revenue per seat Increase Increase 14.1% 12.3% Ancillary revenue per seat Increase Increase 8.4% 6.6% Total revenue per seat Increase Increase Increases driven by: • Improved trading environment due to
Slide 6: Headline costs in line with expectations
Headline costs in line with expectations Q1 2018 Q1 2018 Headline Reported Constant currency 1.6% 3.3% Cost per seat including fuel Decrease Decrease 1.7% 1.0% Cost per seat excluding fuel Increase Increase Increases driven by: Offset by: • +2.1ppts year on year load • Robust management action on co
Slide 7: Strong operational performance
Strong operational performance Improved operational / customer statistics • Investment in resilience delivering Q1 2018 vs Q1 2017 returns: • Q1 Network OTP - 81% Total Sectors +3.4% • Maintenance response aircraft helping control 3hr delays Network OTP +2ppts LGW OTP +7ppts • Solid Gatwick operatio
Slide 8: Tegel operation – Successful launch
tegel operation – Successful launch 2018 Tegel operations Transition to easyJet operation on track First flight Dry lease aircraft • 5th January 2018 • Aircraft secured and conversion process has begun Wet leases • Operations have begun Crew • First crew have completed training Schedule • Strong rec
Slide 9: Positive Underlying trading
Positive Underlying trading FY 2018 Headline PBT (as @ FY’17 results)* £505m (pre Tegel operation) Includes one off benefits from capacity decreases H1 Net trading improvement c. +£35m post Monarch / Air Berlin administration and (reflected in updated guidance) operational issues at Ryanair Fuel & F
Slide 10: Forward bookings
Forward bookings 90% 92% Last Year This Year 86% 81% 77% 73% 58% 60% 55% 55% 40% 35% 20% 16% Q1 Jan Feb Mar Q2 H1 H2 As at 19th January 2018 10
Slide 11: Fuel and foreign exchange hedging
Fuel and foreign exchange hedging Fuel requirement US dollar requirement Euro Surplus Six months to 30 March 2018 84% @ $513/tonne 89% @ $1.36/£ 70% @ €1.24/£ Full year ending 30 September 79% @ $516/tonne 79% @ $1.36/£ 75% @ €1.24/£ 2018 Full year ending 30 September 52% @ $538/tonne 54% @ $1.31/£
Slide 12: 2018 headline Outlook – excluding Tegel
2018 headline Outlook – excluding tegel Capacity (seats flown) • FY 5% - 6% increase Revenue per seat at constant currency • H1 2018 revenue per seat: mid to high single digits positive Cost per seat at constant currency • FY headline cost per seat excluding fuel: c. 1% increase (assuming normal lev
Slide 13: Summary
Summary • Leading customer proposition driving loyalty and ancillary revenue • Positive revenue per seat momentum - easyJet is winning in the market • Strong cost performance delivered • Continued focus to improve On Time Performance and CSAT which are delivering results • Strong balance sheet and c
Slide 14: Q&A
Q&A easyJet