Jazeera Airways Co. (ksc) · KSE:JAZEERA
Jazeera Airways Co. (ksc) — Jazeera Airways — Q4 2023 Earnings Presentation
26 slides from Jazeera Airways Co. (ksc)'s earnings presentation, Feb 6, 2024
Slide 1: 4Q23 Earnings Webcast
4Q23 Earnings Webcast 06 February 2024
Slide 2: Starting Shortly…
Starting Shortly…
Slide 3: Disclaimer
Disclaimer The content and information of this document is only intended to provide users with financial and operational information about Jazeera Airways. No warrant or representation is made by Jazeera Airways for the contents of this document and in no way is the material provided in it intended
Slide 4: Agenda
Agenda Operational & Financial Headlines Operational Performance Outlook for 1Q24 & 2024 Financial Review Q&A
Slide 5: Operational & Financial Headlines
Operational & Financial Headlines
Slide 6: 4Q23 Operational Headlines
4Q23 Operational Headlines PASSENGERS LOAD FACTOR UTILIZATION YIELD 4Q23: 1,147 k 4Q23: 75.8% 4Q23: 12.7 hrs 4Q23: KWD31.8 4Q22: 978 k 4Q22: 78.7% 4Q22: 12.4 hrs 4Q22: KWD39.9 +17.3% -2.9% +2.2% -20.3%
Slide 7: FY23 Operational Headlines
FY23 Operational Headlines PASSENGERS LOAD FACTOR UTILIZATION YIELD FY23: 4.7 mn FY23: 78.2% FY23: 13.5 hrs FY23: KWD39.6 FY22: 3.6 mn FY22: 77.0% FY22: 12.9 hrs FY22: KWD47.9 +30.6% +1.1% +4.6% -17.4%
Slide 8: 4Q23 Financial Headlines
4Q23 Financial Headlines REVENUE OPERATING PROFIT NET PROFIT 4Q23: KWD39.2 mn 4Q23: -KWD6.3 mn 4Q23: -KWD7.1 mn 4Q22: KWD41.3 mn 4Q22: KWD0.9 mn 4Q22: -KWD0.7 mn -5.2% -822.0% -945.5%
Slide 9: FY23 Financial Headlines
FY23 Financial Headlines REVENUE OPERATING PROFIT NET PROFIT * FY23: KWD198.1 mn FY23: KWD11.8 mn FY23: KWD6.2 mn FY22: KWD182.1 mn FY22: KWD26.8 mn FY22: KWD20.1 mn +8.8% -56.2% -69.5% • FY22 included a one-off gain of KWD1.7 mn from the sale and lease back of two engines against zero in FY23. • FY
Slide 10: Ancillary Revenue
Ancillary Revenue CARGO ANCILLARY E-COMMERCE REVENUE REVENUE REVENUE 4Q23: KWD519 k 4Q23: KWD4.0 mn 4Q23: KWD6.3 mn 4Q22: KWD464 k 4Q22: KWD3.7 mn 4Q22: KWD6.8 mn +11.9% 10.2% -7.5% FY23: KWD2.1 mn FY23: KWD17.8 mn FY23: KWD41.8 mn FY22: KWD2.0 mn FY22: KWD15.4 mn FY22: KWD41.3 mn +9.4% +15.6% +1.4%
Slide 11: Terminal 5 Performance
Terminal 5 Performance KWD2.7 mn KWD2.3 mn KWD1.9 mn 4Q23 Revenue EBITDA Net Profit 4Q22: KWD2.3 mn 4Q22: KWD1.9 mn 4Q22: KWD1.7 mn FY23 KWD12.6 mn KWD10.8 mn KWD9.6 mn Revenue EBITDA Net Profit FY22: KWD10.2 mn FY22: KWD8.4 mn FY22: KWD7.8 k T5 Expansion nears final steps of approval High passenger
Slide 12: Operational Performance
Operational Performance
Slide 13: FY23 Market Share & Passengers Distribution
FY23 Market Share & Passengers Distribution PASSENGERS GEOGRAPHIC PASSENGERS GEOGRAPHIC MARKET SHARE DISTRIBUTION – FY23 DISTRIBUTION – FY22 29.9% Other, 6% Europe, Central Asia, 6% Other, 8% Europe, AT KWI Central 10% 11% Asia, 10% 30.9% 29.9% 28.4% Egypt, 17% 20.7% Egypt, 17% GCC, 34% GCC, 39% Sou
Slide 14: Operational Updates
Operational Updates Fleet Passenger Movement Fuel Cost Utilized two wet-lease during the summer to The most active year in the history of Singjet price was 16.4% below FY22 but compensate for delayed deliveries. Jazeera moving 4.7 mn passengers across remain on the higher side compared to its networ
Slide 15: 4Q23: 64 destinations
• 4Q23: 64 destinations • 4Q22: 50 destinations • 4Q21: 36 destinations • 4Q20: 20 destinations
Slide 16: Outlook
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Slide 17: Positive Outlook for FY24
Positive Outlook for FY24 Revenue & Costs Industry Outlook • Collaborative effort from all stakeholders to curtail over- • Cautiously continue growing Jazeera’s connections segments capacity in the market. connecting Russia, CIS and the Subcontinent to the GCC via Jazeera’s hub in KIA. • Fleet will
Slide 18: Long-Term Business Model
Long-Term Business Model • Commitment to long-term business model still intact despite short-term obstacles. • Continue adopting the successful model that has worked so far for Jazeera. • Develop a unit cost advantage with focused attention to minimize costs in all areas Fleet Expansion Network Expa
Slide 19: Financial Review
Financial Review
Slide 20: 4Q23 & FY23 Key Parameters
4Q23 & FY23 Key Parameters 4Q22 Vs 4Q23 FY22 Vs FY23 Operating Parameters 4Q22 4Q23 CHANGE Operating Parameters FY22 FY23 CHANGE Average Aircraft 20.0 22.1 10.3% Average Aircraft 17.4 21.1 21.5% Destination Cities 50 57 14.0% Destination Cities 53 64 20.8% Revenue Drivers 4Q22 4Q23 CHANGE Revenue Dr
Slide 21: 4Q23 Financial Performance
4Q23 Financial Performance KWD 4Q22 4Q23 CHANGE Operating Revenue 41,304,036 39,175,083 -5.2% Operating Expenses -40,428,903 -45,493,563 12.5% Operating Profit 875,134 -6,318,480 -822.0% Net Profit (Loss) -683,009 -7,140,951 945.5% • Passenger numbers increased by 17%, offset by decrease in 2.8% loa
Slide 22: FY23 Financial Performance
FY23 Financial Performance KWD FY22 FY23 CHANGE • Capacity increased by 28.7% resulting in passenger numbers growing by 31% coupled with an increased load factor of 1.1% Revenue 182,116,206 198,081,266 8.8% in FY23 against a yield drop of 17%. Operating Expenses -155,278,228 -186,318,690 20.0% • Ope
Slide 23: 4Q23 Key Performance Metrics
4Q23 Key Performance Metrics BRENT Swap Vs. SINGJET Swap (USD/BBL) Quarterly Yield (KWD) 175 117.9 112.8 107.0 107.6 91.6 101 88 92 75 68 62 55.5 88.5 85.8 48 48 SINGJET Swap 82.2 82.9 40 41 45 41 77.9 32 34 32 BRENT Swap 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q2
Slide 24: Q&A
Q&A
Slide 25: Contact
Contact For more information please contact: Krishnan Balakrishnan Chief Financial Officer krishnan.balakrishnan@jazeeraairways.com Jazeera Airways KSC is listed on the Kuwait Stock Exchange Bloomberg: Jazeera KK Reuters: JAZK.KW Stay up to date with the latest investor information: investorrelation
Slide 26: Thank You
-ayjaul Jazeefa. "1 —~