Slide 1: Norwegian Air Shuttle ASA Q1 2011 presentation
Norwegian Air Shuttle ASA Q1 2011 presentation April 28th 2011 Double digit revenue growth in Q1 • Group revenues of MNOK 1,895 in Q1 2011, 19 % growth since last year – Domestic revenue: MNOK 780 (+10 %) – International revenue: MNOK 1,115 (+26 %) Slide: 2
Slide 2: Q1 operating result affected by seasonality, currency losses and soaring oil price
Q1 operating result affected by seasonality, currency losses and soaring oil price – EBITDAR MNOK - 230 (-23) – EBITDA MNOK - 430 (-192) – EBIT MNOK - 495 (- 239) . – Pre-tax profit (EBT) MNOK - 406 (-275) – Net profit MNOK - 293 (-200) EBITDAR development Q1 EBITDA development Q1 Slide: 3 One-offs
Slide 3: Cash and cash equivalents of 1.2 billion
Cash and cash equivalents of 1.2 billion • Cash flows from operations in Q1 2011 MNOK +229 (+398) – MNOK 867 increase in air traffic settlement liabilities (MNOK 690 last year) – Seasonally weak Q1 was amplified by hedge effects and high fuel price • Cash flows from investing activities in Q1 2011 M
Slide 4: Production growth in Q1 and substantial passenger growth
Production growth of 28 % in Q1 • 74 % load factor in Q1 – down one percentage point from last year – 14 brand new Boeing 737-800s which can seat 38 more passengers at no additional cost – The number of passengers per flight has increased 5,000 100 % + 28 % 77 % 4,000 75 % 75 % 74 % 80 % 3,000 60 %
Slide 5: Continued strong growth at Oslo Airport; growth focus on Sweden
Norwegian with continued strong growth at Oslo Airport 37 % of all passengers traveled with Norwegian in Q1 2011 • Increase of 365,000 passengers at Oslo Airport in Q1 2011 • Norwegian contributed with 42 % of the growth Oslo airport (OSL) – all airlines Oslo airport (OSL) – only Norwegian • + 9 % c
Slide 6: Helsinki base opening, Swedish routes and underlying unit cost down 6%
Successful opening of Helsinki base and business routes in Sweden Sweden Launch of Helsinki base • New domestic routes • 3 aircraft based in Helsinki starting March 2011 – 6 daily rotations to Malmö (opened Dec.) – 3 daily rotations to Gothenburg (opened Feb.) • 2 domestic destinations – Summer rout
Slide 7: Fuel efficient aircraft provide relative advantage
Fuel efficient aircraft provide relative advantage • Fuel consumption: Down 6 % per seat per KM vs. Q1 last year • Consumption advantage: 25 - 30 % lower per passenger per KM vs. competitor Fuel price Current price expectations (Forward curve) Future Hedges Forward curve July 2008 vs. actual 20 % Op
Slide 8: Other revenues remain a significant contributor; Wi-Fi launch
Other revenues remains a significant contributor • Ancillary revenue comprises 14 % of Q1 revenues (target 15 %) 90 + 5% 80 70 60 Ancillary revenue per passenger (NOK) 50 40 30 20 10 0 Q1 08 Q1 09 Q1 10 Q1 11 Ancillary revenue/ pax 42 70 80 84 Slide: 15 Overwhelming Wi-Fi Launch Used by more than ha
Slide 9: Current planned fleet development and expectations for 2011
Current planned fleet development • 57 aircraft in the fleet at end of Q1 – 737-800: 37 (increase of 14 since last year) – 737-300: 20 (decrease of 8 since last year) • 5 new 737-800 deliveries in Q2 (May 2, June 3) 17 Expectations for 2011 • Business environment – Uncertain business climate – Seaso
Slide 10: Norwegian offers 241 scheduled routes to 95 destinations
Norwegian offers 241 scheduled routes to 95 destinations 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: 20