Wizz Air Holdings Plc · LSE:WIZZ
Wizz Air — H1 F20 Earnings Presentation
16 slides from Wizz Air's earnings presentation, November 2019
Slide 1: H1 F20 Wizz Air Holdings Plc Results for the First Six Months
H1 F20 WIZZ AIR HOLDINGS PLC RESULTS FOR THE FIRST SIX MONTHS
Slide 2: Record H1 Results
H1 F20 | RECORD H1 RESULTS Record net profit of €372m 18% passenger growth to 22m Strong unit revenue and ex-fuel unit cost performance Expansion in core markets with 76 new routes and 18 new aircraft Increased focus on sustainability with new and existing initiatives FY net profit forecast tightene
Slide 3: Leading ULCC in CEE
H1 F20 | LEADING ULCC IN CEE Passengers 22m Aircraft 119 Airports 151 Bases 25 Employees 4,800 Countries 44 PAGE 3 Figures for the six months to 30 September 2019
Slide 4: Operational Resilience
H1 F20 | OPERATIONAL RESILIENCE Cancellations vs LY Flights 117,460 +14.6% +18% more passengers 255 - 25% fewer cancellations Load factor 94.6% +1ppt 190 Utilisation 13.4h +2.1% Regularity 99.8% H1 F19 H1 F20 Unchanged PAGE 4
Slide 5: Record Profit on 18% Growth
H1 F20 | RECORD PROFIT ON 18% GROWTH H1 F20 H1 F19 Change Seat growth +16.6% Revenue (€m) 1,670.8 1,373.0 +21.7% EBITDA (€m) 609.1 505.7 +20.4% Load factor +1ppt EBITDA margin (%) 36.5% 36.8% -0.3ppt Passenger Net profit (€m) 371.5m 200.6m +85.2% +17.9% growth Net profit margin (%) 22.2% 14.6% +7.6p
Slide 6: Strong Revenue Generation
H1 F20 | STRONG REVENUE GENERATION Revenue (€m) RASK +2.7 % +22% Ancillary per pax +17.8 % 1,671 Ticket per pax -5.5 % 1,373 Revenue per pax +3.3 % 714 514 Revenue Drivers - Easter effect - Strong bag recovery - Strong value-add ancillaries - Strong GDP growth in CEE 859 957 - Higher load factor H1
Slide 7: Strong Recovery in Ancillaries
H1 F20 | STRONG RECOVERY IN ANCILLARIES Ancillary Revenue* €/pax + €4.9 32.3 27.4 4.9 4.2 26.2 1.5 1.5 21.8 0.8 -0.7 -1.5 -2.4 -2.9 5.6 6.1 F18 F19 H1 F20 H1 F19 H1 F20 Baggage Value-Add PAGE 7
Slide 8: Robust Cost Control
H1 F20 | ROBUST COST CONTROL CASK (€ cent) CASK € cent* H1 F20 H1 F19 Change 3.37 3.36 Fuel 1.15 1.09 0.06 Staff costs 0.31 0.31 0.00 1.09 1.15 +5.3% Distribution & marketing 0.06 0.07 0.00 Maintenance, materials & repairs 0.22 0.20 0.03 Airport, handling & en-route 0.94 0.93 0.00 2.28 2.22 -2.8% 0.
Slide 9: Structural Cost Savings from Fleet
STRUCTURAL COST SAVINGS FROM FLEET +268 aircraft on order PAGE 9
Slide 10: Full Year FY20 Guidance
FULL YEAR FY20 | GUIDANCE Guidance Previously Capacity growth (ASKs) + 20% Average stage length Modest increase Load Factor + 1 ppt Fuel CASK +7% Ex-fuel CASK Slightly negative Broadly flat Total CASK +2% Revenue per ASK Slightly positive Effective tax rate 4% Net profit Range €335 – € 350 million R
Slide 11: Market Leading Positions
MARKET LEADING POSITIONS #1 56% Hungary, Romania, Bulgaria, Ukraine, Macedonia, Georgia, Serbia, Moldova, Bosnia #2-3 44% Poland, Austria, Lithuania, Latvia, Slovakia #1 LCC in CEE and Wizz Air UK …… #1 London-Luton PAGE 11 Source: Company Information. Innovata, Apr 2019 to Mar 2020. Market and Mark
Slide 12: Strengthening Market Positions
STRENGTHENING MARKET POSITIONS Increasing Frequencies +76 NEW ROUTES + 39% Joining existing airports +48% New airports +13% + 18 Aircraft Current number of based aircraft New based aircraft in F20 and F21 PAGE 12
Slide 13: Taking Sustainability to the Next Level
TAKING SUSTAINABILITY TO THE NEXT LEVEL ENVIRONMENT PEOPLE ✓ Wizz Pilot Academy ✓ -30% CO2/passenger by 2030 ✓ Wizz Ambassador Programme ✓ A321neo fleet: ECONOMY -16% CO2 emission ✓ Wizz Youth Challenge -40% noise emission ✓ Boosting connectivity in CEE ✓ Wizz Foundation & Wizz Aid ✓ Paperless cockp
Slide 14: Closing Comments
CLOSING COMMENTS Record H1 results: Net profit of €372m on 18% passenger growth Superior cost performance continues into H2 Strong growth in CEE continues to strengthen our leading position A321neo deliveries are widening our cost advantage vs peers Lowest CO2 emissions/passenger km among all compet
Slide 15: Wizz Disclaimer
WIZZ | DISCLAIMER This presentation has been prepared by Wizz Air Holdings Plc (the “Company”). By receiving this presentation and/or attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. This presentation is
Slide 16: Appendix: Hedge Program
APPENDIX: HEDGE PROGRAM EUR/USD EUR/GBP Jet Fuel 80% 63% HEDGE COVERAGE 52% 35% 50% FY20 FY21 F20 FY20 FY21 5 months 12 months 5 months 5 months 12 months Capped rate $1.19 $1.17 £0.91 $689 $655 Floor rate $1.15 $1.13 £0.85 $629 $597 Sensitivities (before hedges) for the remaining F20 period: • A on