Ryanair Holdings Plc · EURONEXT:RYA

Ryanair — Q3 FY20 Earnings Presentation

16 slides from Ryanair's earnings presentation, Feb 3, 2020

  1. Slide 1: Q3 Results — Feb 2020

    R MORE CHOICE. LOWER FARES. GREAT CARE. i Q3 Results — Feb 2020

  2. Slide 2: Europe's Favourite Airline Group

    Eur ope’s Favourite Air line Gr oup  Lowest fare/lowest cost airline group  No. 1, Traffic – 154m guests (+8%)  No. 1, Cover – 241 airports/2,100 routes  Lower growth drives higher fares  EU airline failures/sales accelerate  EU’s greenest, cleanest airline  Lowest cost = structural winner 2

  3. Slide 3: Europe's No. 1 Coverage

    E u r o p e ’s N o. 1 C ove r a g e  82 bases  241 airports (60% prim)  Over 2,100 routes  S.20 -Ktw (Pol), Zad (Cro) -Armenia -111 new routes  154m guests (+8%) 3

  4. Slide 4: Europe's Lowest Fares

    Eur ope’s Lowest Far es Ave. Fare Change % > Ryanair Ryanair €37 -6% Wizz €47 +3% +27% easyJet €61 +2% +65% Norwegian €91 +14% +146% Lufthansa €176 -10% +376% IAG €191 -1% +416% AF/KLM €210 -1% +468% Avg Competitor Fare €129 +249% (Source: FY results/Annual Reports) 4

  5. Slide 5: Europe's Lowest Costs Win!

    Eur ope’s Lowest Costs W ins! € per pax RYA WIZ EZJ NOR E’Wings LUV Staff/efficiency (py) 7 (6) 6 (5) 10 (9) 19 (17) 19 (18) 48 Airport & Hand. 7 11 21 19 33 8 Route Charges 5 5 5 7 7 0 Own’ship & maint. 6 15 9 32 21 15 S & M other 4 2* 8 8 34 18 Total 29 39 53 85 114 89 %> Ryanair +34% +83% +193% +

  6. Slide 6: Q3 FY20 Results

    Q3 FY20 Results Dec 18 Dec 19 Guests (m) 33.8 35.9 +6% Rev per Pax €47 €53 +13% Avg. fare €30 €33 +9% Ancills per Pax €17 €20 +21% Unit Costs (ex fuel) €31 €31 +1% Net (loss)/PAT €(66)m €88m - EPS €(0.06) €0.08 - 6

  7. Slide 7: Current Developments

    Cur r ent Developments  MAX-200s delayed to W.20  Cost leadership maintained despite MAX delays  Slower cap. growth & higher fuel drives consolidation  Higher Lauda losses due to price war Ger. & Aust.  Continued environmental progress  €700m buyback extend to July (€440m to date)  FY guidanc

  8. Slide 8: Boeing 737MAX update

    Boeing 737MAX update  210 orders (135 firm, 75 options)  MAXs delayed to W.20  Slower FY21 growth (162m → 156m)  Closures: Ace, Bfs, Ham, Lpa, Nue, Nyo & Tfs  PDPs frozen – Ongoing Boeing talks  Great aircraft: 4% more seats, 16% less fuel  Target of 200m guests delayed to FY25/FY26 8

  9. Slide 9: Consolidation continues

    Consolidation continues  Failures: – Ernst Airlines (Ita) – Astra (Gre) – Adria (Slov)  For sale: – TAP (Por), Croatia Air  Sold: – Air Europa (Spa), Condor (Ger)  State aid: – Alitalia (Ita), Flybe (UK), Tarom (Rom)  Vienna Cuts: – E’Wings, Level & EZJ  Acft grounded: – Blue Air (fleet cut 22

  10. Slide 10: Lauda losses increase

    Lauda losses increase  Ave. fares lower than expected  Luft below cost selling in Ger. & Aust.  6.5m guests FY20  New cost-cutting programme  Grow from 23 → 36 acft for S.20  5th base in Zadar S.20  FY20 losses grow from €80m to €90m 10

  11. Slide 11: EU's Cleanest Greenest Airline: Progress Report

    EU’s Cleanest Gr eenest Air line: Pr og r ess Repor t  First EU Airline to publish CO2 Emissions  Dir. of Sustainability appointed  Up to 50% lower than BA/Luft/AF  Cut CO2 by 10% to <60g by 2030  “Plastic free” in 5 years (60% now)  Rise in guest voluntary carbon offsets  210 new a/c: cuts f

  12. Slide 12: FY20 Guidance

    FY20 Guidance  154m guests (+8%)  Rev Per Pax +3% to +4%  Ex fuel unit costs +2%  Fuel +€440m  PAT range €0.95bn to €1.05bn  Subject to Q4 fares & absence of security events  FY21 guidance in May 12

  13. Slide 13: Appendices

    Appendices 13

  14. Slide 14: FY21 fuel hedging

    FY21 fuel hedging Jet (met. tonne) FY20 FY21 Q1 $717 (90%) $632 (90%) Q2 $718 (90%) $601 (90%) Q3 $723 (90%) $593 (90%) Q4 $667 (90%) $593 (90%) FY $709 (90%) $606 (90%) €/$ FY20 FY21 Opex hedge $1.23 (90%) $1.17 (87%) 14

  15. Slide 15: Shareholder Returns €6.9bn

    Shar eholder Retur ns €6.9bn Buyback Spec Divs Total (€m) (€m) (€m) FY08 – 11 346 500 846 FY12 – 14 674 492 1,166 FY15 112 520 632 FY16 1,104 1,104 FY17 1,018 1,018 FY18 829 829 FY19 560 560 FY20/21 700 700 Total 5,343 1,512 6,855 15

  16. Slide 16: Disclaimer

    Disclaimer Certain of the information included in this presentation is forward looking and is subject to important risks and uncertainties that could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. By their nature, for

Ryanair Holdings — Q3 FY20 Earnings Presentation on 6ix