Slide 1: First Quarter 2019 Financial Results
First Quarter 2019 Financial Results AerCap Holdings N.V. May 1, 2019 D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 2: Disclaimer Including Forward Looking Statements & Safe Harbor
Disclaimer Including Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with as required by applicable law, we do not undertake any obligation to, and will respect to future performance and events. These statements, estimates and not, upda
Slide 3: AerCap Over the Past 5 Years
AerCap Over the Past 5 Years >$15 billion ~$30 OPERATING AGGREGATE EARNINGS CASH FLOW PER SHARE >2,000 Aircraft PURCHASED, $ LEASED OR SOLD >$5 billion ~200% NET INCOME GROWTH IN BOOK VALUE PER SHARE © 2019 AerCap | Confidential property of the company, not for disclosure or use without permission 3
Slide 4: AerCap Moving Forward
AerCap Moving Forward ~90% >$40 3Q >50% PLACED BILLION 2026 NEW TECHNOLOGY ORDER BOOK CONTRACTED FUTURE AVERAGE AIRCRAFT AS % OF THROUGH 2021 LEASE REVENUES LEASE END DATE CURRENT FLEET NBV © 2019 AerCap | Confidential property of the company, not for disclosure or use without permission 4
Slide 5: 1Q 2019 Financial Results and Highlights
1Q 2019 Financial Results and Highlights Financial Results Highlights • 81 aircraft transactions, including 16 widebody transactions NET INCOME • ~95% of lease rents through 2021 already contracted ($ million) 1Q 2019 1Q 2018 • 6.2 years average age of owned fleet (1.9 years for new technology aircr
Slide 6: Revenues and Other Income
Revenues and Other Income ($ million) 1Q 2019 1Q 2018 Basic Lease Rents 1,075.3 1,032.9 Maintenance Rents and Other Receipts 86.8 87.4 Net Gain on Sale of Assets 21.5 89.3 Other Income 21.4 9.5 Total Revenues and Other Income 1,205.0 1,219.1 • Basic lease rents increased in 1Q 2019, primarily due to
Slide 7: Net Interest Margin and Net Spread
Net Interest Margin and Net Spread ($ million) 1Q 2019 1Q 2018 Net Interest Margin 757.0 742.0 Average Lease Assets 37,266 34,934 Average Cost of Debt 4.2% 4.0% Including all fees (debt issuance costs, upfront fees, undrawn fees, commitment fees and original issuance discount fees) Annualized Net Sp
Slide 8: Aircraft Disposals and Purchases
Aircraft Disposals and Purchases Net Gain on Sale of Assets Sales Volume and Margin Over the Last 8 Quarters ($ million) 900 40% Sales Volume ($ million) 1Q 2019 1Q 2018 800 35% Margin Net Gain on Sale of Assets 21.5 89.3 700 30% 1Q 2019 Aircraft Disposal Activity for $340 million 600 25% • 19 aircr
Slide 9: Other Expenses
Other Expenses ($ million) 1Q 2019 1Q 2018 Selling, General & Administrative Expenses 66.9 85.8 Maintenance Rights Expense 21.4 53.7 Other Leasing Costs 70.3 78.8 Asset Impairment 5.0 2.1 • Selling, general and administrative expenses decreased by 22% in 1Q 2019, primarily due to a decrease in share
Slide 10: Liquidity Position
Liquidity Position We continue to maintain strong liquidity, with $11.1 billion available as of March 31, 2019 Sources vs. Uses (Next 12 Months) ($ billion as of March 31, 2019) Liquidity Levels Over the Last 8 Quarters ($ billion) Sources (for 12 months to March 31, 2020) 12.0 11.7 3.5x 11.0 11.1 U
Slide 11: Stronger Credit Profile
Stronger Credit Profile AerCap’s credit metrics have significantly improved since our return to Investment Grade ratings Metric Mar. 31, 2019 Dec. 31, 2016 Difference % New Technology Aircraft 51% 23% +28% $ Purchase Obligations / Total Assets 39% 56% (17%) Adjusted Debt / Equity Target Ratio 2.8 2.
Slide 12: Book Value Per Share
Book Value Per Share AerCap has grown book value per share by ~14% per year over the last 5 years Book Value Per Share Book Value Per Share Growth (millions, except per share data) Mar. 31, 2019 $70 $65 $65 $63 Total Shareholders’ Equity $8,906 $60 $57 $55 Ordinary Shares Outstanding 139.6 $49 $50 U
Slide 13: Q&A
Q&A D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 14: Supplemental Information
Supplemental Information D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Slide 15: Capital Structure
Capital Structure Summary Mar. 31, 2019 Adjusted Debt / Equity Ratio 2.8 to 1 Adjusted Debt/Equity Calculation ($ million) Mar. 31, 2019 Debt (including fair value adjustments) 30,759 Adjusted for: • Unrestricted cash & cash equivalents (2,348) • 50% equity credit for long-term subordinated debt (75
Slide 16: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise 51% of our owned fleet Number of % Net Number of Number of Total Aircraft Type Owned Aircraft Book Value Managed Aircraft on Order Aircraft Aircraft Airbus A320 Family 311 16 39 − 350 Airbus A320neo Family 109 15 − 161 270
Slide 17: Forward Order and Purchase/Leasebacks
Forward Order and Purchase/Leasebacks Aircraft Type 2019 2020 2021 2022 2023 Total Airbus A320neo Family 30 49 32 25 25 161 Airbus A350 1 − − − − 1 Boeing 737 MAX 17 24 28 27 3 99 Boeing 787 12 4 6 6 9 37 Embraer E190 / 195-E2 9 13 14 12 − 48 Total Aircraft 69 90 80 70 37 346 As of March 31, 2019 ©
Slide 18: Endnotes
Endnotes SLIDE 7: Net Interest Margin Net interest margin is calculated as basic lease rents less interest expense, excluding the non-cash charges related to the mark-to-market of interest rate caps. Average lease assets includes flight equipment held for operating leases, flight equipment held for
Slide 19: AerCap House, Dublin contact details
AerCap House T: +353 1 819 2010 65 St. Stephen’s Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e