Norwegian Air Shuttle Asa · OSL:NAS
Norwegian Air Shuttle Asa — Q2 2022 Earnings Presentation
17 slides from Norwegian Air Shuttle Asa's earnings presentation, Aug 25, 2022
Slide 1: Presentation of second quarter 2022
Presentation of second quarter 2022 25 August 2022
Slide 2: Highlights
Highlights Number of passengers Delivering proven customer experiences in this quarter challenging environment – robust operations with regularity close to 100% 4,963,969 New partnerships to benefit customers – Widerøe and Norse Atlantic Airways co-operation Load factor 81.2% Quarterly earnings (EBT
Slide 3: Bringing passengers to summer destinations
Bringing passengers to summer destinations Traffic – PAX per month, load factor and yield 2,5 00 95% 1.1 0 90. 0% 2,206 Successful ramp-up for summer season 85% 1.0 0 with regularity close to 100% 81% 80% 1,936 1.01 2,0 00 79% 79% 0.9 0 80. 0% Getting customers to their destinations 0.77 1,628 – wet
Slide 4: Disciplined network strategy
Disciplined network strategy Booking momentum 7-day rolling sales figures (abs) – All markets* Customers booked later this summer than previous Encouraging booking trends for autumn – customers planning next holiday Corporate travellers valuing Norwegian’s regularity on strong on-time performance At
Slide 5: Securing modern long-term fleet
Securing modern long-term fleet Agreement to purchase Boeing 737 MAX 8 aircraft Reached agreement at favourable terms 100 – attractive pricing and inflation protection Order for 50 aircraft – delivery 2025-2028 80 30 Option for 30 aircraft – delivery 2028-2030 Improving financial flexibility 60 NOK
Slide 6: Financial results for Q2 2022
Financial results for Q2 2022
Slide 7: Quarterly financial highlights
Quarterly financial highlights Revenues Unit revenue - total Passenger traffic (million RPK) 0.62 6,190 0.57 Traffic and yields increased markedly this quarter 2,976 Ancillary NOK 158 per pax 0.48 302 Q2 2021 Q1 2022 Q2 2022 Q2 2021 Q1 2022 Q2 2022 Profits EBITDAR (NOK million) Positive bottom line
Slide 8: Fuel headwinds in Q2
Fuel headwinds in Q2 Jet Fuel Price ($/mt) 1,600 Sharp increase in jet fuel price following Ukraine invasion 1,400 Q2 market spot price above $1,300/mt -11% – 11% lower currently 1,200 USDNOK coming down from this recent highs 1,000 Fuel increase partially offset through higher fares 800 600 Jan-202
Slide 9: Q2 earnings – delivering earnings above 1bn
Q2 earnings – delivering earnings above 1bn Chng. NOK million Q2 2022 Q1 2022 (QoQ) Passenger revenue 3,970 1,513 Ancillary passenger revenue 782 344 Other revenue 116 59 Total operating revenue 4,868 1,916 +154% Ramp-up and improving yields Personnel expenses 782 633 Aviation fuel 2,338 634 +269% N
Slide 10: Balance sheet – improved equity position
Balance sheet – improved equity position 30 Jun. 31 Mar. Chng. NOK million 2022 2022 (QoQ) Net interest bearing debt Intangible assets 2,082 2,069 Tangible fixed assets 9,834 6,795 Aircraft prepayment 30 Jun. 31 Mar. Chng. and lease revaluation NOK million Total non-current assets 12,203 9,075 +34%
Slide 11: Cash flow – preserving cash position
Cash flow – preserving cash position NOK million Opening balance (31 Mar. 7,535 2022) Improved liquidity outlook from strong summer season Limited operating loss Operating activities +556 Reduced holdback Holdback down to 67% – trending lower going forward Investing activities Aircraft order PDP -14
Slide 12: The way forward
The way forward
Slide 13: A sustainable successful future
A sustainable successful future Delivering market-leading Promoting sustainable aviation, the customer experiences Norwegian way Reliable and trustworthy Serious about sustainability Getting you to your Committed to 45% destination reduction target Dedicated Recognizedpeople brand Dedicated Recogniz
Slide 14: Summary
Summary Capitalising on continued pent-up demand Encouraging booking trends after successful summer season Fleet increasing from 70 to 85 for summer 2023 Market-leading Norwegian Reward programme Attractive network partnership with Widerøe Robust balance sheet Preserved strong liquidity position Air
Slide 15: Book tickets at Norwegian.com
Book tickets at Norwegian.com
Slide 16: Appendix
Appendix
Slide 17: 20 largest shareholders as of 30 June 2022
20 largest shareholders as of 30 June 2022* Name Country Number of shares Per cent 1 Geveran Trading Company, Ltd. Cyprus 129,614,986 13.9 % 2 Sundt AS Norway 105,603,198 11.4 % 3 Folketrygdfondet Norway 55,405,388 6.0 % 4 Silver Point Capital, L.P. United States 42,526,526 4.6 % 5 Davy Stockbrokers
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