Slide 1: Q3 2017 Analyst & investor presentation
q3 2017 Analyst & investor presentation Thursday 20th July 2017
Slide 2: Building momentum
Building momentum 9.5% growth in Q3 capacity; strengthening our market positions Network Improving underlying revenue trend Cost Underlying cost performance is strong and continues to be in line with guidance Investment in resilience is delivering better OTP figures in Q3 Customer Gatwick North term
Slide 3: Third quarter - Key Financial Information
Third quarter - Key Financial Information Q3 ’16 Q3 ’17 Change (restated) Passengers (m) 22.3 20.2 10.8% Load factor (%) 93.1 92.0 1.1ppts Seats (m) 24.0 21.9 9.5% Seat revenue (£m) 1,363 1,174 16.0% Non-seat revenue (£m) 24 22 13.9% Total revenue (£m) 1,387 1,196 16.0% Total revenue per seat (£) 57
Slide 4: 9.5% seat growth in Q3 – Strong revenue performance
9.5% seat growth in Q3 – Strong revenue performance Growth on easyJet city pairs easyJet Competitor Country growth growth UK 9.8% 5.4% Switzerland 12.7% 13.6% France 9.1% 1.3% Schiphol 8.4% 9.8% Venice 10.9% (7.2)% Berlin 6.0% 13.7% Barcelona 5.1% 3.2% of lines line h=8.03 9 and v=8.75 with font 10p
Slide 5: Headline costs in line with expectations
Headline costs in line with expectations Q3 2017 Q3 2017 Headline Reported Constant currency 1.0% 5.5% Cost per seat including fuel Increase Decrease 7.6% 1.6% Cost per seat excluding fuel Increase Increase Increases driven by: Offset by: • Investment in resilience • Robust management action on cost
Slide 6: Building momentum in data & digital
Building momentum in data & digital 21.5m app downloads +2ppt Bag penetration attachment rate +13% ecommerce bookings through mobile, app & tablet +6.5ppt +17% Seat purchase attachment Footer box on intersect of lines line h=8.03 9 and v=8.75 with font 10pt Arial not bold rate Non-seat revenue booke
Slide 7: Investing in resilience - Driving operational improvements
Investing in resilience - Driving operational improvements Resilience investment in summer 2017 Improved operational / customer statistics Aircraft spare parts inventory Q3 2017 vs Q3 2016 • Invested in additional inventory of critical spares parts that typically cause operational interruption Total
Slide 8: easyJet Europe
easyJet Europe • Following a rigorous and comprehensive year-long process Austria was chosen as the country for easyJet Europe • Austro Control is a good fit for easyJet, setting high standards of safety and compliance and embracing EASA's move towards performance-based regulation • easyJet Europe w
Slide 9: Forward bookings
Forward bookings % Seats sold * To be updated 92% 93% (current info as @ 30/6/17) Last Year 76% 78% This Year 72% 74% 54% 56% 51% 52% 34% 29% Footer box on intersect of lines line h=8.03 9 and v=8.75 with font 10pt Arial not bold Q3 Jul Aug Sep Q4 H2 * H2 (1 April 2017 to 30 September 2017) As at 19
Slide 10: Fuel and foreign exchange hedging
Fuel and foreign exchange hedging Fuel US dollar Euro surplus CHF surplus requirement requirement Three months ending 84% at $583/ 30 September 2017 82% at $1.45/£ 90% at €1.37/£ 86% at CHF1.35/£ metric tonne Full year ending 86% at $611/ 30 September 2017 86% at $1.49/£ 90% at €1.35/£ 86% at CHF1.3
Slide 11: Outlook in 2017
Outlook in 2017 Capacity (seats flown) • H2 c.+8.5% (before disruption) • FY c.+8.5% (before disruption) Revenue per seat at constant currency • H2 revenue per seat: down c.2%; Q4 revenue per seat: down c.4% to 6% • Each 1ppt of Q4 RPS worth c£20m PBT Headline cost per seat at constant currency • FY
Slide 12: Summary – building momentum
Summary – building momentum • Purposeful and disciplined growth continues to strengthen our market positions • Strong underlying cost control, while investment in resilience delivering results • Continuing product innovation generating revenues • easyJet Europe – European AOC set up with first aircr
Slide 13: Q&A
Q&A
Slide 14: Disclaimer
Disclaimer This communication is directed only at (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (ii) high