PT Garuda Indonesia (Persero) Tbk Class B · IDX:GIAA
PT Garuda Indonesia (Persero) Tbk Class B — Q2 2011 Earnings Presentation
31 slides from PT Garuda Indonesia (Persero) Tbk Class B's earnings presentation, Jul 29, 2011
Slide 1: Garuda Indonesia 2Q-2011 Quarterly Report
Analyst Presentation 29 July 2011 Garuda Indonesia 2Q-2011 Quarterly Report 1
Slide 2: Today's Presenters from Garuda Indonesia
Today’s Presenters from Garuda Indonesia EMIRSYAH SATAR/PRES & CEO Appointed as President and CEO of Garuda Indonesia in 2005 Previously held various key managerial positions at Bank Danamon, Citibank, Jan Darmadi Group, Niaga Factoring Corp. and Niaga Finance More than 11 years of airline ind
Slide 3: Agenda
Agenda Section 1 Highlight 2Q-2011 Section 2 Business Result 2Q-2011 Section 3 Quantum Leap Performance 2011 Section 4 Outlook 2011 3
Slide 4: 1. Highlight 2Q-2011
a — 1. Highlight 29-2014
Slide 5: AAPA (Jan-Jun 2010/11)
Highlight 2Q-2011 AAPA (Jan-Jun 2010/11) •AAPA International Traffic is growth by 3.1% •ASK growth by 6.8% while RPK growth by 3.7%, resulting in 2.3point fall in average SLF to 75.8% •Air cargo demand relatively soft, declining by 3.2% compared to last year. Passenger (000) ASK (000) 44.004 3.1% 45
Slide 6: Indonesia Macro Economy
Highlight 2Q-2011 Indonesia Macro Economy •Continued Strong Macro Development in Indonesia: Traffic is growth •MP3EI – 6 Indonesian Economic Corridor •IDR stronger againts USD 6,5 2010 2011* 6,3 6,1 6,0 5,7 5,5 •GDP (%,YoY) 6,1 6,5 4,5 •Consumption: 4,0 5,0 •Public 4,6 4,9 •Government 0,3 5,1 GDP gr
Slide 7: Indonesia Air Traffic (Jan-May 2010/11)
Highlight 2Q-2011 Indonesia Air Traffic (Jan-May 2010/11) •Domestik traffic is growth by 13% •International traffic is growth by 14% Domestic Traffic International Traffic Sources: Angkasa Pura 1/II, ex CGK and DPS, 2Q-2011 Apr-May only 7
Slide 8: Indonesia Air Traffic Market & Market Share (Jan-May 2010/11)
Highlight 2Q-2011 Indonesia Air Traffic Market & Market Share (Jan-May 2010/11) 15,4 13% 13,6 11,0 10,5 3,1 42% 4,4 Jan-May 2010 Jan-May 2011 GA Domestic 5,1 14% 4,4 4,0 3,6 0,8 35% 1,1 Jan-May 2010 Jan-May 2011 GA International 8
Slide 9: Highlight 2Q-2011 GA Summary Result
Highlight 2Q-2011 GA Summary Result : • Growth on track: capacity up by 6% & demand up by 9% (Q by Q) • Passenger carried up 42% 1H (YoY) • Seat load factor up while passenger yield improving • OTP is strong at 89,2%, while aircraft utilisation improving • Positive operating cashflow IDR 504.6 bn, s
Slide 10: 2. Business Results 2Q-2011
a ——— Z. Business Results 2@-2077
Slide 11: Financial & Operating Indicators
Financial & Operating Indicators 2Q-2010 1Q-2011 2Q-2011 ∆ % YoY ∆ % QoQ Operational: Aircraft Utilization (Hours) 9:41 10:04 11:00 1:19 0:56 Frequencies 26,333 28,952 32,424 23.1 12.0 On Time Performance 78.2% 88.8% 89.2% 14.1 0.5 Passenger & Cargo: Passenger Carried 3,024,725 3,676,596 4,190,594 3
Slide 12: Financial Summary – Group Company
Financial Summary – Group Company IDR Billion 2Q-2010 1Q-2011 2Q-2011 ∆% ∆% YoY QoQ EBITDAR 665.8 721.8 878.1 31.9 21.7 Total Revenue 4,289.2 5,189.3 6,025.7 40.5 16.1 Total Expenses 4,391.4 5,448.0 6,107.7 39.1 12.1 Fuel 1,464.6 1,959.0 2,435.7 66.3 24.3 Rental & Charter Flight Equip Exp 413.0 629.
Slide 13: Financial Summary – Group Company
Financial Summary – Group Company IDR Billion 1H-2010 1H-2011 ∆% YoY EBITDAR 1,062.20 1,599.9 50.6 Total Revenue 7,756.7 11,215.0 44.6 Total Expenses 8,220.2 11,555.8 40.6 Fuel 2,593.0 4,394.7 69.5 Rental & Charter Flight Equip Exp 812.0 1,307.4 61.0 Ticketing, Sales, Promotion 804.4 1,068.7 32.9 Ot
Slide 14: Financials Summary – Group Company
Financials Summary – Group Company IDR Billion 1Q-2011 2Q-2011 1H-2011 ∆% QoQ Cash/Cash Equivalents at Beginning of The Year 1,177 3,969 1,177 - •Operating Activities 107 398 505 272.0 •Investing Activities (301) (552) (853) 83.4 •Financing Activities 2,895 397 3,292 -86.3 •Net Increase (Decrease) i
Slide 15: Summary of Subsidiaries Performance
Summary of Subsidiaries Performance PT Aero Wisata Financial as of 30 June 2011 PT Aero System Financial as of 30 June 2011 1H-2010 1H-2011 ∆% 1H-2010 1H-2011 ∆% Revenue 724,837 888,139 22.5 Revenue 47,229 55,119 16.7 Operating Income 26,752 41,128 53.7 Operating Income 2.496,0 1.365,4 -45.3 Net Inc
Slide 16: 3. Quantum Leap Performance on 2Q-2011
3. Quantum Leap Performance on 2Q-2011
Slide 17: Quantum Leap – Strategies to Drive Growth
Quantum Leap – 7 Strategies to Drive Growth Management focus on implementing the “Quantum Leap” with 7 main strategies to expand and dominate the Indonesian aviation market. 1 2 Domestic International Grow and dominate Enormous upside full-service potential 7 3 Human Capital LCC Right quality and Ci
Slide 18: Domestic: Grow and Dominate Full-Service
1 Domestic : Grow and Dominate Full-Service Domestic as of 30 June 2011 Domestic Indicator as of 30 June 2010/2011 Banda Aceh 2Q-2010 Source: Ministry of Transport, IATA1Q-2011 2Q-2011 PaxIS and Company. ∆% ∆% Medan YoY Note: Flights per week, routes and destinations data as of December 2010. QoQ Ma
Slide 19: International: Enormous Upside Potential
2 International: Enormous Upside Potential International as of 30 June 2011 International Indicator as of 30 June 2010/2011 Amsterdam 2Q-2010 Source: Ministry of Transport, IATA1Q-2011 2Q-2011 PaxIS and Company. ∆% ∆% YoY Note: Flights per week, routes and destinations data as of December 2010. QoQ
Slide 20: LCC: Citilink to address LCC opportunity
3 LCC: Citilink to address LCC opportunity Citilink Indicator as of 30 June 2010/2011 Citilink Domestic Destinations 2Q-2010 Source: Ministry of Transport, IATA1Q-2011 2Q-2011 PaxIS and Company. ∆% ∆% YoY Note: Flights per week, routes and destinations data as of December 2010. QoQ Medan # of aircra
Slide 21: Fleet: Expansion and Rejuvenation of Fleet
4 Fleet: Expansion and Rejuvenation of Fleet 1Q-11 2Q-11 Ops Fin Owned Lease Lease # of Aircraft Narrow Body 63 65 Fleet at 31 March 2011 85 • B737-300 7 6 3 - 3 IN: Delivery of: +4 • B737-400 8 8 4 - 4 B737-800 3 • B737-500 5 5 - - 5 A330-200 1 • B737-800 NG 43 46 46 - - OUT: Redelivery of: -3
Slide 22: Brand: the Garuda Indonesia Experience
5 Brand: the “Garuda Indonesia Experience” Average Fleet Age as of 30 June 2011 Decreasing Average Age Cathay Pacific 11.8 years 12.0 Malaysia Airlines (Average age) 11,1 11.0 years 10,4 Garuda Indonesia 8,2 7.83 years 7,83 Singapore Airlines 6 years 2007 2008 2009 2010 2011 2012 2013 2014 2015 Sour
Slide 23: Cost Discipline
6 Cost Discipline CASK (US¢) 1H-2011 OPEX – Top 10 Jet Fuel 1H-2010 PoT 1H-2011 PoT ?% 51.3 66.0 66,0 83,2 95.2 (Usc/liter) Fuel 2,593.01 32% 4,394.70 38% 69.5 Fuel Burn 0.42 Rental & Charter 0.45 0.43 0.45 0.42 811.97 10% 1,307.43 11% 61.0 (liter/ATK) Flight Ticketing, 8,1 804.42 10% 1,068.71 9% 32
Slide 24: Human Capital
7 Human Capital 1H-2010 1H-2011 ∆ % YoY Number of Employees 5,142 5,772 12.2 Ground Staff 2,860 3,007 5.2 Cockpit Crew 585 696 19.0 Cabin Crew 1,698 2,068 21.8 ASK/Employee 2,185 2,562 17.2 RPK/Employee 1,485 1,880 26.6 Cockpit Crew/Aircraft 8 9 2.0 Cabin Crew/Aircraft 25 26 4.4 Personnel Expenses (
Slide 25: 4. Outlook 2011
a 4, Outlook 2011
Slide 26: Outlook 2011
Outlook 2011 •Domestic & International traffic remains robust, whereas the rest Domestic & quarter SLF will be higher QoQ, while yield have stay stable International •Starting to operate sub-100 seater. Markets •Encouraging Advance Booking •With new coming A320, going forward Citilink will turn-arou
Slide 27: Thank You
PT Garuda Indonesia (Persero) Tbk Investor Relation Department 2nd Floor Management Building Garuda City Center Soekarno Hatta International Airport Phone: 62-21-2560 1201 Email : investor@garuda-indonesia.com Thank You
Slide 28: Appendix-Additional Information
4. Appendix-Additional Information
Slide 29: Glossary of Terms
Glossary of Terms •Airline Demand RPK = Revenue Passenger Kilometers •One paying passenger transported 1 kilometer Yield = Passenger Revenue per RPK •Average fare paid by passengers, per kilometer flown •Airline Supply ASK = Available Seat Kilometers •One aircraft seat flown 1 kilometer Unit Cost =
Slide 30: Glossary of Terms
Glossary of Terms Example: • A 200-seat aircraft flies 1000 kilometers, with 140 passengers: •RPK = 140 passengers X 1000 kilometers = 140,000 •ASK = 200 seats X 1000 kilometers = 200,000 •Assume total revenue = $16,000; total operating expense = $15,000: •Yield = $16,000 / 140,000 RPK = $0.1 14 per
Slide 31: Glossary of Terms
Glossary of Terms Available Seat Kilometers The ASK is a standard measure of available passenger capacity. The ratio is calculated by multiplying seating (ASK) capacity and the route distance. For example a Boeing 747-400 with 400 seat capacity flying 6,000 km on a regular weekly flight will generat
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