Aercap Holdings N.v. · NYSE:AER
Aercap — Q3 2022 Earnings Presentation
18 slides from Aercap's earnings presentation, Nov 3, 2022
Slide 1: Third Quarter 2022 Financial Results
Third Quarter 2022 Financial Results AerCap Holdings N.V. November 3 , 2022
Slide 2: Disclaimer Incl. Forward Looking Statements & Safe Harbor
Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with Further information regarding these and other risks is included in AerCap's respect to future performance and events. These statements, estimates and annual report on
Slide 3: Key Highlights
Key Highlights Another strong quarter of earnings and cash flow; achieved leverage target ahead of expectations Demand continues to be strong, even without the re- opening of China internationally Supply constraints are causing delays on new aircraft deliveries, supporting leasing demand and lease r
Slide 4: Positive Impact of Traffic Recovery
Positive Impact of Traffic Recovery The rebound in demand is driving lower storage rates and higher airline revenues Total Daily Flights as a % of 2019 by Region Storage Rates for New Technology Aircraft Global Airline Revenues ($bn) 120% 100% $ 950 90% $ 850 $838 100% $812 80% $782 $767 $755 83% 70
Slide 5: Strong Performance Across Businesses
Strong Performance Across Businesses Engines, Cargo and Helicopters businesses are contributing strongly World’s largest engine leasing company, with over Global leader with a fleet of >100 aircraft owned, World’s largest helicopter leasing company with 900 owned and managed engines serviced or comm
Slide 6: 3Q 2022 Net Income Walk
3Q 2022 Net Income Walk 3Q 2022 Adjusted Net Income Net income of $440 million, or $1.82 per share ($ million) Increase Decrease Adjusted net income of $537 million, or $2.21 per share (16) 4 (14) Purchase accounting 123 adjustments include: 537 – $51 million related to lease 440 premium amort
Slide 7: 3Q 2022 Financial Drivers
3Q 2022 Financial Drivers Basic lease rents of $1,473 million reflected strong cash collections as well as $51 million of lease premium amortization Maintenance rents and other receipts were $120 million, and were negatively impacted by $30 million of maintenance rights assets amortized to reven
Slide 8: Strong Liquidity Position
Strong Liquidity Position Next 12 months’ sources-to-uses coverage of 1.7x, with ~$17 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of September 30, 2022) ($ billion) 18.0 Leverage ratio of 2.69x as of 16.5 September 30, 2022 15.0 ~$5 Excess 3Q 2022 operating cash flow of $1
Slide 9: Raising Full Year 2022 Guidance
Raising Full Year 2022 Guidance Full year 2022 EPS estimates increased to range of $8.00 - $8.50 given strong performance 2022 Adjusted Earnings Per Share Guidance1 Key drivers of performance Revised Estimated include: Range of $9.00 $8.00 – $8.50 - Higher lease revenue due to strong Previous Esti
Slide 10: AerCap: Global Leader in Aviation
AERCAP Global Leader in Aviation
Slide 11: Supplemental Information
AERCAP Global Leader in Aviation Supplemental Information
Slide 12: 3Q 2022 Adjusted Net Income and EPS
3Q 2022 Adjusted Net Income and EPS Earnings Per ($ million, except per share amounts) Net Income Share ($) Net Income / Earnings Per Share 440 1.82 Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase Accounting 1 123 0.51 3Q 2022 Net Recoveries Related to Ukrai
Slide 13: Book Value Per Share
Book Value Per Share Book value per share of $64.59 as of September 30, 2022 (millions, except per share data) Sept. 30, 2022 Total Shareholders’ Equity $15,568 Ordinary Shares Outstanding 245.9 Unvested Restricted Stock (4.8) Ordinary Shares Outstanding (excl. Unvested Restricted Stock) 241.0 Book
Slide 14: Capital Structure
Capital Structure Adjusted Debt/Equity Calculation ($ million) Sept. 30. 2022 Dec. 31, 2021 Debt (including fair value adjustments) 47,350 50,205 Adjusted for: Unrestricted cash & cash equivalents (1,099) (1,729) 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 45,
Slide 15: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise ~65% of aircraft fleet Number of Assets % Net Number of Assets Number of Assets Aircraft Type Total Assets Owned Book Value Managed On Order Airbus A220 Family 4 0% 2 18 24 Airbus A320 Family 469 11% 70 − 539 Airbus A320neo
Slide 16: Forward Orders and Purchase/Leasebacks
Forward Orders and Purchase/Leasebacks Aircraft Type 2022 2023 2024 2025 2026 Thereafter Total Airbus A220 Family 1 12 5 − − − 18 Airbus A320neo Family 17 66 51 50 35 17 236 Airbus A330neo Family 1 5 6 − − − 12 Boeing 737 MAX 1 14 17 34 65 − 131 Boeing 787 1 4 6 10 5 − 26 Embraer E190 / 195-E2 5 − 1
Slide 17: Endnotes
Endnotes SLIDE 4: Positive Impact of Traffic Recovery Global Airline Revenues: IATA, Actuals for 2013-2020; 2021 and 2022 are estimates. Storage Rates: Cirium, as of September 30, 2022. Daily Flights: Cirium, as of October 20, 2022. SLIDE 6 : 3Q 2022 Net Income Walk Purchase accounting adjustments c
Slide 18: AerCap House, 65 St Stephens Green, Dublin
AerCap House T: +353 1 819 2010 65 St Stephens Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland