Ryanair Holdings Plc · EURONEXT:RYA
Ryanair — Q3 FY2015 Earnings Presentation
16 slides from Ryanair's earnings presentation, February 2015
Slide 1: Q3 Results Feb 2015
Q 3 Re s u l t s Feb 2 0 1 5 © Ryanair 2014
Slide 2: Europe's Favourite Airline
Eur ope’s Favourite Air line Europe’s Lowest Fares/Lowest Costs Europe’s No 1, Traffic – 100m Europe’s No 1, Coverage – 72 Bases Europe’s No 1, C’mer Service – Low Fares/On-time/Bags/Canx – “Always Getting Better” Program Fwd Bookings, Ld Factors & Traffic Rising 380 new a/c order = growth to 160mpa
Slide 3: Europe's Lowest Fares
Eur ope’s Lowest Far es Avg. Fare % > Ryanair €46 €83 +80% €84 +83% €93 +102% €121 +163% €235 +411% €242 +426% €300 +552% Average Competitor Fare €163 Source: Latest Annual Reports © Ryanair 2014 3
Slide 4: Europe's Lowest Cost (Ex Fuel)
Eur ope’s Lowest Cost (Ex Fuel) RYA EZY NOR AB1 LUV Spirit Staff €6 €9 €15 €17 €35 €19 Airport & hand €8 €21 €14 €27 €8 €6 Route charges €6 €6 €8 €8 €0 €0 Own’ship & maint. €7 €8 €21 €29 €16 €19 S & M other €2 €7 €4 €26 €15 €15 Total €29 €52 €62 €107 €74 €59 % > Ryanair + 76% +114% +270% +155% +103%
Slide 5: Europe's No 1 Coverage
E u r o p e ’s N o 1 C ove r a g e 72 bases 189 airports 30 countries 1,600+ routes 100m c’mers 300 x 737-800’s 380 x Boeings on order © Ryanair 2014 5
Slide 6: Europe's No 1 Airline
Eur ope’s No 1 Air line Country (Cap m)* No. 1 No. 2 No. 3 Share UK (117) easyjet BA 16% Germany (112) Luft Air Berlin 4% Spain (105) Vueling Iberia 18% Italy (85) Alitalia easyJet 25% France (72) AF- KLM easyJet 7% Portugal (19) TAP easyJet 17% Belgium (15) SN Brussels Jetairfly 25% Ireland (15) Ae
Slide 7: Europe's No 1 for Traffic Growth
E u r o p e ’s N o 1 Fo r Tr a f f i c G r ow t h 160 FY14 90 81.7 62 62 63 57 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 . Source: Latest traffic stats for 12 mths to Mar14 and company forecasts © Ryanair 2014 7
Slide 8: Fleet / Traffic Growth FY to FY
F l e e t / Tr a f f i c G r ow t h F Y 1 5 t o F Y 2 4 Fleet C’mers Growth (at YE) P.A. Ann Cum FY15 308 90m + 10% + 10% 340 100m + 11% + 22% 737-800 Order FY16 FY17 368 106m + 6% + 30% FY18 402 114m + 8% + 40% FY19 420 120m + 5% + 47% FY20 451 128m + 7% + 57% FY21 468 136m + 6% + 66% MAX Order FY2
Slide 9: 2014/15 – A Record Year for Ryanair
2 0 1 4 / 1 5 – A R e c o r d Ye a r f o r R y a n a i r “Always Getting Better” programme Business Plus & Family Extra Service 90m customers Load factor (87% LF) 530,000+ flights, over 90% on-time First 5 of 380 new B737 aircraft delivered 8 new bases: Athens, Brussels, Cologne, Gdansk, Glasgow, Li
Slide 10: Q3 Results
Q3 Results Dec 13 Dec 14 Traffic 18.3m 20.8m +14% Load Factor 82% 88% +6%pts Avg. Fare (incl. bag) €39 €40 +2% Rev. Per Pax €53 €54 +3% Revenue €964m €1,132m +17% Net Profit / (loss) (€35m) €49m +€84m Net Margin (-4%) +4% +8%pts © Ryanair 2014 10
Slide 11: Q3 Balance Sheet
Q3 Balance Sheet Mar-14 Dec-14 €m €m Aircraft (inc. dep) 5,570 6,385 Cash 3,242 (i) 4,121 Total Net Cash 8,812 10,506 Net Cash €158m €447m Liabilities 2,442 2,783 Debt 3,084 (i) 3,674 S/H funds 3,286 4,049 Total 8,812 10,506 (i) Includes €850m euro bond proceeds (June 2014) © Ryanair 2014 11
Slide 12: Current Developments
Cur r ent Developments “Always Getting Better” - drives stronger demand Competitors unable to match RYR pricing Fwd bookings, LF & traffic rising (Q4 +25%) FY traffic raised to 90m FY15 & 100m FY16 Oil price falling – 90% hedge FY16; 35% FY17 €520m spec div Feb €400m share buyback (Feb-Aug ) © Ryana
Slide 13: Competitors Unable to Match RYR Pricing
C o m p e t i t o r s U n a b l e t o M at ch RY R P r i c i n g EZY fly Stn-Edi (2002) & Stn-Gla (2005) – no competition RYR start 3 x daily service Nov 2014 on both routes STN-EDI EZY RYR C'mers LF C'mers LF Oct 25,500 83% - - Nov 21,700 74% 27,800 82% Dec 19,600 69% 26,000 81% STN-GLA EZY RYR C'm
Slide 14: Fuel Hedging Update
F u e l H e d g i n g U p d at e Feb 2 0 1 5 – ( i n d i c at i ve o n l y ) Year Oil Currency Blended € price Oil per pax % cover Rpbl % cover $/€ Rpbl % redn Oil p/px p/px save FY14 - $98 - $1.31 €75 - €24.65 - FY15 90% $95 90% $1.34 €71 - 5% €22.21 €2.44 FY16 90% $92 90% $1.33 €69 - 2% €20.40 €1.
Slide 15: FY Outlook
FY Outlook Q4 traffic up 25% (FY 90m +10%) Q4 fares down: -6% to -8% (Jan pricing softer) Unit cost down -5%, (ex fuel flat) FY Guidance (€810m - €830m) raised to €840m - €850m €520m dividend (€0.375ps) Feb €400m share buyback (Feb – Aug) “Always Getting Better” delivers for c’mers and shareholders
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