Aeroflot · RUS:AFLT
Aeroflot — Q2 2023 Earnings Presentation
24 slides from Aeroflot's earnings presentation, Aug 29, 2023
Slide 1: Aeroflot Group Q2 & 6M 2023 IFRS Results
AEROFLOT GROUP Q 2 & 6 M 2 0 2 3 I F R S R E S U LT S 29 August 2023
Slide 2: Disclaimer
Disclaimer This document has been prepared by PJSC “Aeroflot” (the “Company”). By attending the meeting where the presentation is made, or by reading the presentation slides, you agree to the following. This document does not constitute or form part of any advertisement of securities, any offer or i
Slide 3: Aeroflot Group 6M 2023 Highlights
Aeroflot Group 6M 2023 Highlights Passenger traffic growth Passenger load factor growth Maximum on domestic flights +21.8% +5.8 p.p. +29.9% Pobeda Aeroflot 29.4% 52.2% 20.9 85.7% million passengers 6.3 7.8 8.2 Rossiya 0% 100% Jun-19 Jun-21 Jun-23 18.5% (billion RPK) Revenue EBITDA Operating income I
Slide 4: Agenda
1. Market Update and Operating Results 2. Network and Schedule Overview 3. Fleet Overview 4. Financial Performance 5. Appendix
Slide 5: Overview of the Russian Market
Overview of the Russian Market Q2 2023 Passenger Traffic 6M 2023 Passenger Traffic 6M 2023 Market Shares Russian Air Transportation Market Russian Air Transportation Market Total Russian Air Transportation Market (million PAX) (million PAX) (%, y-o-y dynamics in p.p.) 31.1% 22.0% Others 55.0 +0.4 p.
Slide 6: Aeroflot Group Performance
Aeroflot Group Performance Brand and Business Model Passenger Traffic Passenger Load Factor (million PAX) (%, YoY dynamics in p.p.) 37.3% +8.9 p.p. • Flagship carrier 10.9 • Premium product (4 Stars) 7.9 83.5% 55.2% • Hub and spoke model 6М 2022 6М 2023 0% 50% 100% 10.3% +0.1 p.p. • Low cost 93.4% •
Slide 7: Agenda
1. Market Update and Operating Results 2. Network and Schedule Overview 3. Fleet Overview 4. Financial Performance 5. Appendix
Slide 8: Passenger traffic
Passenger traffic Key results Passenger turnover, capacity Passenger traffic (million PAX) and load factor 6M 2023 Passenger traffic 86.6% 88.9% 89.1% 89.5% 86.5% 87.6% 92.9% 6М 23 -5.4% 88.0% VS. (5.4 p.p. YoY) 20.9 million PAX 16.8 (14.1% YoY) Jul. 22 ASK 41.9 (7.7% YoY) 2К 23 Domestic 9.3 (15.8%
Slide 9: Aeroflot Group Capacity Recovery
Aeroflot Group Capacity Recovery Flight frequency Key highlights2 Weekly flight frequency in June 20231 (RT flights each week) • 98 unique domestic routes 207 Moscow - St. Petersburg • Routes to 18 countries Moscow - Sochi (including routes opened in 134 Q3 2023) 83 Moscow - Yekaterinburg St. Peters
Slide 10: Aeroflot Leveraging Domestic Market Opportunities
Aeroflot Leveraging Domestic Market Opportunities Hub Regional flight program Program of direct flights in Krasnoyarsk from Sochi to Mineralnye Vody 15 routes 21 routes 6 routes 299.5 thousand PAX 416.2 thousand PAX 140.7 thousand PAX New flights to Bodrum, Dalaman, Flights from Saint Petersburg, Ne
Slide 11: Aeroflot Leveraging International Market Opportunities
Aeroflot Leveraging International Market Opportunities Flights to 181 countries Key highlights International flight program Azerbaijan Armenia Belarus Egypt Iran India to currently available destinations Increasing frequencies and capacity Kazakhstan China Kyrgyzstan Cuba Maldives UAE on the back of
Slide 12: Aeroflot Group Scheduled Revenue Units
Aeroflot Group Scheduled Revenue Units Segment Scheduled Yield (RUB / RPK) Scheduled RASK (RUB / ASK) Total +10.7% +19.1% 6М 21: 4.27 (+2.6%) 6М21: 3,34 (+12,2%) 6М19: 3.79 (+15.7%) 6М19: 2,97 (+26,4%) 3.95 4.38 3.15 3.75 6М 2022 6М 2023 6М 2022 6М 2023 +9.6% +16.9% Domestic 6М21: 3.49 (+8.2%) 6М21:
Slide 13: Agenda
1. Market Update and Operating Results 2. Network and Schedule Overview 3. Fleet Overview 4. Financial Performance 5. Appendix
Slide 14: Fleet Overview
Fleet Overview Fleet dynamics Fleet and technical service Type of aircraft Fleet as at 30.06.2023 18 international aircraft repurchased from lessors1 Wide-body (long-haul) 59 100% aircraft A-330 12 in the Russian registry, >100 aircraft deregistered from Bermuda A-350 7 All Group’s aircraft types B-
Slide 15: Agenda
1. Market Update and Operating Results 2. Network and Schedule Overview 3. Fleet Overview 4. Financial Performance 5. Appendix
Slide 16: Key Financial Highlights
Key Financial Highlights Industry subsidy program Q2 22 Q2 23 Chg. Indicators (million RUB.) 6M 22 6M 23 Chg. -100% -44.7% 21.0 21.0 81,132 139,697 72.2% Revenue 180,498 252,176 39.7% 11.6 0 74,694 129,835 73.8% PAX Traffic Revenue 159,488 234,385 47.0% Q2 22 Q2 23 6М 22 6М 23 Fuel damper payments 7
Slide 17: Revenue Dynamics Decomposition
Revenue Dynamics Decomposition Revenue by Key Factors Revenue by Business Segments million RUB. million RUB. -7,958 15,319 -4,285 68,602 252,176 76,148 -1,251 1,409 -4,628 252,176 180,498 180,498 6M 2022 Volume Currency Pricing Other 6M 2023 6M 2022 Scheduled Charter Cargo Other 6M 2023 Passenger Pa
Slide 18: Operating Costs
Operating Costs Operating Costs Breakdown Operating Costs % of Opex Q2 2022 Q2 2023 Chg., % 6M 2022 6M 2023 Chg., % (million RUB.) (6M 2023) 33,269 47,573 43.0% Fuel 68,121 90,047 32.2% 35.3% 37,384 89,762 2.4х Opex (ex. Fuel) 118,046 165,060 39.8% 64.7% 15,606 25,987 66.5% Aircraft and Passenger Se
Slide 19: Group Unit Costs
Group Unit Costs Unit Costs Dynamics Q2 2022 Q2 2023 Change Operating Expense per ASK (CASK), RUB. 6M 2022 6M 2023 Change 1.36 1.40 2.8% Fuel 1.35 1.44 7.3% 1.53 2.64 72.7% CASK (ex. Fuel): 2.33 2.65 13.5% 0.64 0.76 19.8% Aircraft and Passenger Servicing 0.73 0.78 7.4% 1.32 0.98 -25.2% D&A and Custo
Slide 20: Fuel Cost Management
Fuel Cost Management Aeroflot Airline Jet Fuel Price Fuel Damper Thousand RUB per tonne of jet fuel 95 90 610 70 68.8 85 RUB 10.4 billion total damper compensation 80 510 thd tonnes of jet fuel RUB thd/tonne 65 75 410 70 60 65.6 310 65 60 210 55 55 110 50 50 45 10 45.5 Jan Feb Mar Apr May Jun 45 Vol
Slide 21: Leverage and Liquidity
Leverage and Liquidity Debt Profile Liquidity Billion rub. 13.4% Billion RUB 31-Dec-22 30-Jun-23 Chg. % 30-Jun-22 246.2 Borrowings 114.4 128.7 1 12.5% 154.7 217.0 83.9 109.0 including bank loans 114.4 111.7 -2.4% 154.7 and bonds 162.2 108.0 Lease Liabilities 496.5 571.1 15.0% 434.8 31-Dec-22 30-Jun-
Slide 22: Agenda
1. Market Update and Operating Results 2. Network and Schedule Overview 3. Fleet Overview 4. Financial Performance 5. Appendix
Slide 23: Operating Statistics
Операционная статистика Indicators Aeroflot Airline Aeroflot Group Q2 2023 Change 6М 2023 Change Q2 2023 Change 6М 2023 Change Passenger Traffic th PAX 6,076 45.3% 10,913 37.3% 11,461 32.0% 20,927 21.8% international routes th PAX 1,658 4.1х 3,124 85.5% 2,167 3.3х 4,115 68.2% domestic routes th PAX
Slide 24: Investor Relations Contacts
Investor Relations Contacts Address: 119019, Russia, Moscow, Arbat St. 1 E-mail: ir@aeroflot.ru Website: www.aeroflot.ru 24