Latam Airlines Group Sa · BCS:LTM
Latam Airlines Group Sa — Q2 2025 Earnings Presentation
15 slides from Latam Airlines Group Sa's earnings presentation, Jul 29, 2025
Slide 1: Results Presentation Second Quarter 2025
Results Presentation Second Quarter 2025 July 29, 2025
Slide 2: Disclaimer
Disclaimer Neither the United States Securities and Exchange Commission (“SEC”) nor the Chilean Comisión para el Mercado Financiero (the “CMF”) nor any securities commission of any other U.S. or non-U.S. jurisdiction has reviewed, approved or disapproved of this Presentation, or determined that this
Slide 3: LATAM group sustains growth and profitability, alongside refinancing execution and shareholder return initiatives
LATAM group sustains growth and profitability, alongside refinancing execution and shareholder return initiatives Solid Operational Top-to-Bottom Positive Shareholder Return & Performance Financial Performance Refinancing Execution • Transported over 20.5 million • Total operating revenues increased
Slide 4: Strong capacity growth and healthy load factors, with consolidated passenger RASK stable
Strong capacity growth and healthy load factors, with consolidated passenger RASK remaining stable year over year ASK (billion) Load Factor (%) Passengers (million) PRASK (US$ cent) 37.7 40.9 82.2% 83.5% 20.6 19.1 6.9 6.9 Consolidated +8.3% +1.2pp +7.6% +0.2% 2Q-24 2Q-25 2Q-24 2Q-25 2Q-24 2Q-25 2Q-2
Slide 5: LATAM group continues to introduce new offerings that elevate its premium travel experience
LATAM group continues to introduce new offerings that elevate its premium travel experience Modernization of fleet through retrofit1 Onboard Connectivity Narrow-body fleet Wide-body fleet Wide-body fleet Implementation of onboard connectivity ~90% across the group's wide-body fleet in 2026. 64% Sign
Slide 6: Customer investments were recognized by passengers worldwide this quarter
LATAM group’s customer investments were recognized by passengers worldwide this quarter Customer satisfaction (NPS) / points Award-winning service quality Passenger operations LATAM was honored with 9 awards at Skytrax 2025, including Best Airline in South America (sixth consecutive year) and 56 Bes
Slide 7: LATAM records a net income of US$242 million in the quarter
LATAM records a net income of US$242 million in the quarter, driven by healthy operational growth and lower jet fuel prices Adj. EBITDAR Adj. operating income Net income US$850 + 37.4% US$423 + 54.4% US$242 + 66.0% million vs 2Q 2024 million vs 2Q 2024 million vs 2Q 2024 Income Statement (US$ millio
Slide 8: Strong quarterly results underpinned by a firm focus on cost containment
LATAM’s strong quarterly results are once again underpinned by a firm focus on cost containment Adj. CASK ex-fuel (US$ cents) 4.5 4.7 4.7 4.7 4.8 2019 2023 2024 LTM 2Q25 2Q 2025 Adj. Passenger CASK ex-fuel (US$ cents) 4.2 4.3 4.2 4.2 4.3 2019 2023 2024 LTM 2Q25 2Q 2025 Adjusted figures exclude other
Slide 9: Last Twelve Months Adj. EBITDAR generation continues its positive trend
Last Twelve Months Adj. EBITDAR generation continues its positive trend Last Twelve Months Adj. EBITDAR (US$ billion) 26.2% 25.0% 23.8% 3.5 22.6% 3.3 22.2% 3.1 2.9 2.8 2Q-24 3Q-24 4Q-24 1Q-25 2Q-25 Adjusted figures exclude other gains and losses, expenses related to the Corporate Incentive Plan and
Slide 10: Positive net cash generation of US$367 million before dividend payments and share repurchase
Positive net cash generation of US$367 million before dividend payments and the first share repurchase execution Adj. Cash Flow 2Q 2025 (US$ million) 753 2,514 (231) (127) (27) 2,146 +367 2,069 (445) (78) Initial Cash Adj. Operating CapEx Net of Financial Interest Adj. Financial Cash Before Sharehol
Slide 11: LATAM's balance sheet remained strong and resilient during the quarter
LATAM's balance sheet remained strong and resilient during the quarter, reflecting consistent financial discipline Liquidity (US$ million) Adjusted Net Leverage (times) Liquidity Cash and equivalents RCF Financial Financial 2.1x 27.1% 27.2% Policy Range Policy Target 25% <2.0x 23.9% 3,644 21% 3,533
Slide 12: LATAM has eliminated its high interest rate debt, reducing its cost of financing
LATAM has eliminated its high interest rate debt, significantly reducing its cost of financing through lower interest payments Total Amount Original New Amount New Annual Instrument Annual (million) Coupon Instrument (million) Coupon Savings Savings Term Loan B US$1,081 ~15% 2024 Refinancing 2030 No
Slide 13: LATAM group updates its guidance for the full year 2025
LATAM group updates its guidance for the full year 2025 Indicator Guidance 2025E 2025E Updated (April 28th) (July 28th) Operating Indicators Total ASK Growth vs 2024 7.5% - 9.5% 8.5% - 9.5% Domestic Brazil ASK Growth vs 2024 7.0% - 9.0% 9.5% - 10.5% Domestic Spanish Speaking Countries ASK Growth vs
Slide 14: Second quarter 2025 takeaways
Second quarter 2025 takeaways 1. Positive operational performance: Sustained growth and efficiency, underpinned by a healthy demand environment and a consolidated load factor of 83.5%. 2. Record financial results for a second quarter: Adjusted operating margin of 12.9% and adjusted EBITDA of US$850
Slide 15: Results Presentation Second Quarter 2025
Results Presentation Second Quarter 2025 July 29, 2025