Ryanair Holdings Plc · EURONEXT:RYA
Ryanair — Q1 FY2014 Earnings Presentation
19 slides from Ryanair's earnings presentation, Jul 29, 2013
Slide 1: Q1 Results – 29 July 2013
Q1 Results – 29 July 2013 EUROPE’S ONLY ULTRA LOW COST AIRLINE Europe’s only ultra-low cost carrier © This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair
Slide 2: Europe's Only Ultra Low Cost Carrier (ULCC)
EUROPE’S ONLY ULTRA LOW COST CARRIER (ULCC) Lowest Fares/Lowest Unit Costs in Europe No fuel surcharges….Guaranteed! No 1 For Traffic – 81.5m No 1 For Coverage – 1,600+ Routes from 57 Bases No 1 For C’mer Service – Most on time flights – Fewest mishandled bags – Fewest cancellations 29th Year of Str
Slide 3: No. 1 – Lowest Fares in Europe
NO. 1 – LOWEST FARES IN EUROPE Avg. Fare % > Ryanair LOW RYANAIR €42 HIGH easyJet €80 +90% Norwegian €83 +97% Air Berlin €121 +186% SAS €170 +302% Lufthansa €247 +481% IAG €284 +570% AF-KLM €330 +678% Source: Latest published company information Europe’s only ultra-low cost carrier © This presentati
Slide 4: No. 1 – Traffic Growth
NO. 1 – TRAFFIC GROWTH 85 PAX (m’s) 81.5m 80 65 45 25 05 06 07 08 09 10 11 12 13 14 FY Europe’s only ultra-low cost carrier © This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair 3
Slide 5: No. 1 – Coverage
NO. 1 – COVERAGE 57 bases 180 airports 29 countries 1,600+ routes 1,600+ daily dep’s 303 Boeing 737-800 NG’s Newest fleet (4 Years) 81.5m pax p.a. Europe’s only ultra-low cost carrier © This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryana
Slide 6: No. 1 – Lowest Ex Fuel Unit Costs
NO. 1 – LOWEST EX FUEL UNIT COSTS RYA EZY NOR AB1 LUV Spirit Staff €6 €9 €15 €20 €36 €16 Airport & handling €8 €21 €17 €34 €8 €5 Route charges €7 €6 €8 €8 €0 €0 Ownership & maint. €6 €9 €16 €40 €18 €16 S & M + other €2 €9 €6 €26 €16 €13 Total €29 €54 €62 €128 €78 €50 % > Ryanair +86% +114% +348% +16
Slide 7: FY2013 Financial Highlights
FY2013 FINANCIAL HIGHLIGHTS Jun 12 Jun 13 Change Traffic 22.5m 23.2m + 3% Load Factor 82% 82% 0% Avg. Fare (incl. bag) €44 €42 - 4% Rev. Per Pax. €57 €58 + 1% Revenues €1,284m €1,342m + 5% Profit after Tax €99m €78m - 21% Europe’s only ultra-low cost carrier © This presentation is subject to copyrig
Slide 8: Strong Balance Sheet
STRONG BALANCE SHEET Mar 13 Jun 13 Aircraft (inc. dep.) €5,384m €5,501m Cash €3,559m €3,593m Net Cash Total €8,943m €9,094m €191m Net Cash €61m After Liabilities €2,172m €2,573m €177m Buybacks Debt €3,498m €3,402m S/H Funds €3,273m €3,119m Total €8,943m €9,094m Europe’s only ultra-low cost carrier ©
Slide 9: No. 1 – Margin & Shareholder Returns
NO. 1 – MARGIN & SHAREHOLDER RETURNS RYA EZY NOR AB1 LUV Net Margin 12% 7% 4% 0% 2% Cash Earnings * 18% 9% 7% 2% 7% Free Cash Flow ** €828m €64m (€125m) (€235m) €557m Net Cash/(Debt) *** €192m €72m (€497m) (€756m) (€142m) S’holder Returns **** €1,706m €380m - - €1,375m * (Net profit + depreciation)
Slide 10: €1bn Additional Shareholder Returns
€1BN ADDITIONAL SHAREHOLDER RETURNS FY 2008 – share buyback 1 €300m FY 2009 – share buyback 2 €46m FY 2011 – spec. dividend 1 €500m FY 2012 – share buyback 3 €125m FY 2013 – share buyback 4 €67m FY 2013 – spec. dividend 2 €492m FY 2014 – share buyback 5 €177m €1bn FY 2014 – share buyback 6 €224m Ret
Slide 11: Outlook
OUTLOOK FY14 Traffic 2m (+3%) to 81.5m H1 profits higher than P/Y FY14 Fuel €170m (v’s €200m prev.), due to lower prices & efficiency – FY 14 90% hedged @ $980 – H1’15 70% hedged @ $935 FY14 prof. guid. unchanged – €570m to €600m , (subj. to H2 yields) 175 a/c order grows pax to 110m p.a. RYA –
Slide 12: Fleet and Pax Growth to 2018
FLEET AND PAX GROWTH TO 2018 New Lease Returns Year End Pax No’s Pax Aircraft / Disposals Fleet (m’s) Growth FY 14 0 -15 290 82 + 3% FY 15 11 -3 298 84 + 3% FY 16 35 -5 328 89 + 6% FY 17 50 -24 354 96 + 7% FY 18 50 -18 386 103 + 7% FY 19 29 -5 410 110 + 7% Total 175 -70 410 Ability to flex growth (v
Slide 13: Summary
SUMMARY Q1 profit of €78m, traffic 3%, Avg. fare 4% (no Easter, French ATC strikes & FX) Tot. rev. 5% (€1,342m) due to 24% ancillary rev. (€356m) Unit costs 4% (in line with sect. length) 7 new bases performing well over summer 175 B737 order approved at EGM Raised growth forecast to 110m p
Slide 14: Appendices
EUROPE’S ONLY ULTRA LOW COST AIRLINE Appendices Europe’s only ultra-low cost airline © This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair 14
Slide 15: UKCC – Aer Lingus Minority Stake Investigation
UKCC – AER LINGUS MINORITY STAKE INVESTIGATION RYA unconditionally offers 29% stake to anyone who acquires > 50% UKCC Findings expected Aug 13 Expected to attempt forced sale of 6 ½ yr holding Findings based on bogus concerns – RYA “might” block rights issue (despite RYA written assurances) – RYA “m
Slide 16: EU Short Haul Capacity Growth Limited
EU SHORT HAUL CAPACITY GROWTH LIMITED 175 150 Short Haul A/C Orders 2013 to 2018 125 100 175 75 117 50 73 64 63 25 42 40 6 0 0 Ryanair Norweigan Wizzair Lufthansa easyJet Air Berlin IAG AF-KLM Vueling RYA provides circa 40% of mkt cap. growth to 2018 after fleet replacement Source: Boeing, Airbus an
Slide 17: RYA's Mkt Share – Underlines Growth Potential
RYA’S MKT SHARE – UNDERLINES GROWTH POTENTIAL Mkt. Share No. 1 No. 2 No. 3 Spain 21% RYANAIR IAG Vueling Italy 22% RYANAIR Alitalia easyJet Ireland 44% RYANAIR Aer Lingus Air France Poland 23% RYANAIR LOT Wizz Morocco 15% RAM RYANAIR easyJet UK 16% easyJet IAG RYANAIR Germany 5% Lufthansa Air Berlin
Slide 18: FY2014 Network – 57 Bases
FY2014 NETWORK – 57 BASES Europe’s only ultra-low cost airline © This presentation is subject to copyright and may not be copied or used without the express prior consent of Ryanair 18
Slide 19: 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 to differ materially. By their nature, forward looking statements involve risk and uncertainty because they relate to events and