Slide 1: Q3 2010 Presentation: Double digit revenue growth in Q3
Norwegian Air Shuttle ASA Q3 2010 Presentation October 21st 2010 Double digit revenue growth in Q3 • Group revenues of MNOK 2,828 in Q3 2010, 24 % growth since last year – Domestic revenue: MNOK 992 (+27 %) – International revenue: MNOK 1,836 (+23 %) • Includes MNOK 175 in compensation from SAS foll
Slide 2: Record high quarterly operating profit
Record high quarterly operating profit – EBITDAR MNOK + 840 (+670) – EBITDA MNOK + 624 (+515) – Operating profit (EBIT) MNOK + 573 (+ 476) – Pre-tax profit (EBT) MNOK + 733 (+520) – Net profit MNOK + 528 (+375) EBITDAR development Q3 EBIT development Q3 Q3 07 Q3 08 Q3 09 Q3 10 Q3 07 Q3 08 Q3 09 Q3 1
Slide 3: 1.2 billion in cash and cash equivalents, up MNOK 400 from last year
1.2 billion in cash and cash equivalents, up MNOK 400 from last year • Cash flows from operations in Q3 2010 MNOK -48 (+113) – Q3 seasonally weaker in terms of operating cash flow – Cash flow does not include MNOK 180 compensation from SAS with cash effect in Q4 • Cash flows from investing activitie
Slide 4: Achieved 80% load despite 34% production growth; 3.8 million passengers
Achieved 80 % load despite a considerable 34 % production growth Introduction of 11 brand new Boeing 737-800s • Y.o.y. growth of 34 % compared to 11 % last year • 80 % load factor in Q3 10 – down 2 p.p. from last year – Larger aircraft can seat 38 more passengers at no additional cost – The number o
Slide 5: 39% of all passengers traveled with Norwegian in Q3
Norwegian with continued strong growth at Oslo Airport 39 % of all passengers traveled with Norwegian in Q3 • Increase of nearly 480,000 passengers – demand at all time high • Norwegian contributed with 74% of the growth Oslo airport (OSL) – all airlines Oslo airport (OSL) – only Norwegian • + 10 %
Slide 6: Growing in Finland, Sweden and Denmark; Unit cost reduction of 6%
Growing in Finland, Sweden and Denmark Launch of Helsinki base Launch of Stockholm – Malmö route • 3 aircraft based in Helsinki starting March 2011 • Second largest Swedish domestic route • 2 domestic destinations • 3 daily rotations from December – Oulu and Rovaniemi • 6 daily rotations from spring
Slide 7: Continued growth in ancillary revenue; Current planned fleet development
Continued growth in ancillary revenue • Ancillary revenue comprises 11 % of Q3 revenues • Goal of 15 % of total revenues Q3 07 Q3 08 Q3 09 Q3 10 Ancillary revenue/ pax 29 56 80 84 Slide: 13 Current planned fleet development • 3 aircraft allocated to Helsinki • 2 aircraft allocated to Stockholm • 1 a
Slide 8: First of six option aircraft financed by sale & leaseback
First of six October 2009 option aircraft financed by sale & leaseback in September (second in October) • S&LB offers considerable flexibility in managing the balance sheet and residual risk • S&LB on i.e. 6 out of 14 aircraft in 2011 reduces required financing by 50 % – The release of equity reduce
Slide 9: Expectations for 2011
Expectations for 2011 • The company expects a production growth (ASK) of 20 % – Primarily by replacing Boeing 737-300s with Boeing 737-800s – Net aircraft growth entirely allocated to Finland, Sweden and charter production – Continuous optimization of the route portfolio • Unit cost expected in the
Slide 10: Norwegian Air Shuttle ASA
Norwegian Air Shuttle ASA Mailing address P.O. Box 113 No – 1330 Fornebu Visiting address Oksenøyveien 3 Telephone +47 67 59 30 00 Telefax +47 67 59 30 01 Internet www.norwegian.com Organization number NO 965 920 358 MVA Slide: 19