Gmr Airports Ltd · NSE:GMRAIRPORT
Gmr Airports — GMR Infrastructure — Q1 FY2023 Earnings Presentation
37 slides from Gmr Airports's earnings presentation, Jul 29, 2022
Slide 1: Regulation 30 disclosure cover letter
INFRA July 29, 2022 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers Limited Dalal Street Exchange Plaza Mumbai - 400 001 Plot no. C/1, G Block Scrip: 532754 Bandra-Kurla Complex Bandra (E) Mumbai - 400 051 Symbol: GMRINFRA Dear Sir/ Madam, Sub: Disclosure under Regulation 30 o
Slide 2: GMR Infrastructure Limited Investor Presentation Q1FY2023
GMR Infrastructure Limited Investor Presentation Q1FY2023 0
Slide 3: Disclaimer
DISCLAIMER All statements, graphics, data, tables, charts, logos, names, figures and all other statements relating to future results of operation, financial condition, business information (“Contents”) contained in this document (“Material”) is prepared by GMR prospects, plans and objectives, are ba
Slide 4: Financial Highlights
Financial Highlights Humility | Entrepreneurship | Teamwork agi Relationships | Deliver the fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 5: GIL Performance Highlights – Q1FY23
GIL Performance Highlights – Q1FY23 Consolidated Financials • Gross Revenues: ▲12% QoQ; ▲57% YoY to INR 14.4 bn in Q1FY23 • EBITDA ▼20% QoQ; ▲21% YoY to INR 4.3 bn in Q1FY23. QoQ declined mainly due to commencement of revenue share payment to AAI in Delhi Airport from April 2022 • Net profit aft
Slide 6: GIL Consolidated EBITDA (Proforma) – Q1FY23
GIL Consolidated EBITDA (Proforma) – Q1FY23 INR mn GIL Consolidated JVs EBITDA Airport Consolidated EBITDA# (DIAL+GHIAL) Cebu EBITDA EBITDA (Proforma) 930 23 5,238 4,285 Consolidated Airport EBITDA (Proforma) is INR 5.2 bn # also include airport subsidiaries 4
Slide 7: GIL Consolidated Debt
GIL Consolidated Debt Gross & Net Debt ^ Net Debt (Sector-wise) ^ (INR bn) (in INR bn, %age of total) 284 45 239 Airport, Corporate, 220 , 92% 19 , 8% Gross Debt Cash & equivalents Net Debt Net Debt increased QoQ mainly due to NCD issue • Delhi Airport – INR 99 bn at Delhi Airport and utilization of
Slide 8: Business Highlights
Business Highlights Humility | Entrepreneurship | Teamwork agi Relationships | Deliver the fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 9: Key Highlights – Q1FY23
Key Highlights – Q1FY23 • FY22traffic Strong international – Key Business recovery highlights in Delhi and Hyderabad Airports Traffic • Domestic traffic crossed pre-Covid levels1 in Delhi and near to pre-Covid levels1 in Hyderabad • Goa airport construction in full swing – inauguration planned in Au
Slide 10: Passenger Traffic
Passenger Traffic Delhi Airport – Daily Average Pax 1,2,3 Hyderabad Airport – Daily Average Pax1,2,3 Domestic ('000) Domestic ('000) 160 140 50 120 40 100 88% of pre-covid 87% of pre-covid 80 30 60 20 40 20 10 0 0 Feb Apr Nov Dec 10 - 16 Jan 17 - 23 Jan 24 - 31 Jan Aug Sep Oct 17 Jul-31 Jul Mar Jun
Slide 11: Growth Drivers in Place for Business to Gain Further Momentum
Growth Drivers in Place for Business to Gain Further Momentum Cargo business remains resilient Delhi Airport1 Hyderabad Airport1 % of pre-Covid % of pre-Covid 120% 120% 100% 100% 80% 80% 91% of pre-covid 60% 104% of pre-covid 60% 40% 40% 20% 20% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Fe
Slide 12: Our Assets
Our Assets Humility | Entrepreneurship | Teamwork afi Relationships e fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 13: Portfolio of World Class Assets
Portfolio of World Class Assets Current PAX (FY20) (mn) DIAL, New Delhi, India PAX CAGR • Marquee asset of 67.3 66/119 national importance FY15–20 Crete, Greece • Gateway to India – National Capital Cargo CAGR with large catchment area FY15–20 • Important Tourist 10.4% Partnerships 45.99% in Busines
Slide 14: Domestic Airports
Domestic Airports Humility | Entrepreneurship | Teamwork ay
Slide 15: Key Highlights – Q1FY23: Delhi Airport (DIAL)
Key Highlights – Q1FY23 Delhi Airport (DIAL) • Traffic ▲28% QoQ; ▲3x YoY to 15.3 mn pax • Gross revenue ▲11% QoQ; ▲43% YoY to INR 8.9 bn o Aero revenue ▲20% QoQ; ▲2x YoY o Non-aero revenue ▲11% QoQ; ▲59% YoY Retail incl. Duty Free ▲35% QoQ; ▲4.2x YoY o CPD Rentals flat QoQ; ▼23% YoY. YoY down due
Slide 16: Key Highlights – Q1FY23: Hyderabad Airport (GHIAL)
Key Highlights – Q1FY23 Hyderabad Airport (GHIAL) • Traffic ▲33% QoQ; ▲3.3x YoY to 5 mn pax • Gross revenue ▲42% QoQ; ▲2.7x YoY to INR 2.7 bn o Aero revenue ▲50% QoQ; ▲2.9x YoY) o Non-aero revenue ▲29% QoQ; ▲2.4x YoY Retail incl. Duty Free ▲33% QoQ; ▲4.4x YoY • EBITDA of INR 1.6 bn in Q1FY23 vs IN
Slide 17: Operational & Financial Highlights YoY – Q1FY23
Operational & Financial Highlights YoY – Q1FY23 (figures in INR mn) Delhi Airport Hyderabad Airport (Standalone) (Standalone) Particulars Q1FY2022 Q4FY2022 Q1FY2023 Q1FY2022 Q4FY2022 Q1FY2023 Net Revenues 5,399 7,893 4,851 970 1,845 2,628 EBITDA 3,154 4,708 2,154 33 593 1,573 Interest 2,018 2,012 1,
Slide 18: Consolidated EBITDA (Proforma) – Q1FY23
Consolidated EBITDA (Proforma) – Q1FY23 Delhi Airport Hyderabad Airport INR mn INR mn Share of EBITDA from JVs/ Consolidated EBITDA Share of EBITDA from JVs/ Consolidated EBITDA Standalone EBITDA Subsidiaries (Proforma) Standalone EBITDA Subsidiaries (Proforma) 2,917 534 2,107 763 2,154 1,573 - Cons
Slide 19: Significant Improvement in Key Parameters
Significant Improvement in Key Parameters Delhi Airport Hyderabad Airport ATMs increased 83% YoY ATMs increased 108% YoY Domestic International (Nos '000 ) Domestic International (Nos '000) 40.2 109.1 5.3 19.7 59.5 19.3 11.1 2.0 34.9 89.4 48.4 17.3 Q1FY2022 Q1FY2023 Q1FY2022 Q1FY2023 Significant Imp
Slide 20: Non-Aero Revenues Performance YoY – Q1FY23
Non-Aero Revenues Performance YoY – Q1FY23 Delhi Airport Non-Aero Revenue Break-up INR 5.3 bn • Non-aero revenues ▲59% to INR 5.3bn Advt. • Retail revenues ▲4.1x YoY to INR 1.4bn Cargo 16% 6% F&B o Duty Free SPP increased to INR 1003 in Q1FY23 8% Ground Handling from INR 901 in Q1FY22 6% • Cargo rev
Slide 21: Key Highlights – Q1FY23: Goa, Bhogapuram, Nagpur
Key Highlights – Q1FY23 Goa Airport • Construction & Development work is in full swing at multiple locations and the Airport is expected to be inaugurated during August 2022 • Achieved physical progress of 85% as of June 30, 2022 • Letter of Award for construction of expressway (NH 166S) connecting
Slide 22: International Airports
International Airports Humility | Entrepreneurship | Teamwork ay
Slide 23: Key Highlights – Q1FY23: Cebu Airport
Key Highlights – Q1FY23 Cebu Airport (Phillipines) • Traffic ▲16% QoQ;▲3.2x YoY to 0.65 mn pax • Revenue ▲6% QoQ; ▲86% YoY in constant currency terms o Pax growth ▲16% QoQ, ▲3.2x YoY; Air traffic movement ▲21% QoQ, ▲2.4x YoY o Operating expenses ▼1% QoQ,▼6% YoY • Net loss after tax of INR 496 mn in
Slide 24: Cebu Airport - Operational & Financial Highlights
Cebu Airport - Operational & Financial Highlights (figures in INR mn) Constant Currency Reported INR mn Q1FY2022 Q4FY2022 Q1FY2023 Q1FY2022 Q4FY2022 Q1FY2023 Revenues 163 286 302 163 279 292 EBITDA (95) 40 59 (95) 39 57 PAT (520) (482) (496) (520) (470) (479) • Q1FY23 Revenue ▲6% QoQ; ▲86% YoY in co
Slide 25: Key Highlights – Q1FY23: Crete and Medan Airports
Key Highlights – Q1FY23 Crete Airport (Greece) • Project is fully funded mainly through State Grant which is already received and Airport Modernisation & Development Tax. It is a debt free Project • Earthworks are progressing in multiple fronts of Runway, Apron, Terminal Building and Access Roads al
Slide 26: Well Placed to Build on Adjacencies
Well Placed to Build on Adjacencies
Slide 27: Focus on creating an asset light ancillary platform
Building on its existing capabilities, GAL plans to focus on creating an asset light ancillary platform… Current strategy Future strategy (expanding presence across (typical airport developer) value chain) Airport development and Self operated operations Self operated Self operated Concessioned out
Slide 28: Phased approach across own network and external airports
…in a phased manner targeting opportunities across both own network as well as external airports GAL platform growth strategy – significant progress made across all 3 phases Phase 1: Phase 2: Phase 3: Platform building Own / network airports External opportunities Build and scale ancillary Scale pla
Slide 29: Poised for Breakout Growth as a Pure Airport Player
Poised for Breakout Growth as a Pure Airport Player Presence across most lucrative markets; Domestic and International Pax Traffic of Indian Airports grew @17.6% & 8.3% CAGR over FY14-19; India poised to rank 3rd in the world on pax traffic1 Mature tariff regime for aero revenue driving ‘Sustainable
Slide 30: ESG Practices
ESG Practices Humility | Entrepreneurship | Teamwork afi Relationships e fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 31: ESG
ESG Environment Profits • DIAL became Asia Pacific's 1st Level 4+ (Transition) accredited airport and 2nd airport globally under Airport Council International’s CSR Spend (Q1FY23) - INR 24.6 mn (ACI) Airport Carbon Accreditation program. Target is to achieve Total beneficiaries - Over 20,000 Net Zer
Slide 32: Thank You
Thank You For further information, please visit Website: www.gmrgroup.in or Contact: investor.relations@gmrgroup.in
Slide 33: Annexures
Annexures Humility | Entrepreneurship | Teamwork afi ela
Slide 34: Annexures index
Annexures Particulars No. Profitability Statement (Consolidated) A Financial Performance o Delhi Airport (Standalone) B o Hyderabad Airport (Standalone) C 32
Slide 35: Annexure A: Profitability Statement (Consolidated)
Annexure A : Profitability Statement (Consolidated) INR mn Q1FY2022 Q4FY2022 Q1FY2023 Gross Revenue 9,191 12,836 14,440 Less: Revenue Share 866 206 4,137 Net Revenue 8,325 12,630 10,303 Total Expenditure 4,789 7,289 6,018 EBITDA 3,535 5,342 4,285 EBITDA margin 42% 42% 42% Other Income 921 1,034 1,97
Slide 36: Annexure B: Delhi Airport (Standalone)
Annexure B : Delhi Airport (Standalone) INR mn Particulars Q1FY2022 Q4FY2022 Q1FY2023 Aero Revenue 1,076 1,832 2,194 Non Aero Revenue 3,296 4,755 5,256 CPD Rentals 1,844 1,421 1,416 Gross Revenue 6,216 8,008 8,866 Less: Revenue Share 817 115 4,015 Net Revenue 5,399 7,893 4,851 Operating Expenditure
Slide 37: Annexure C: Hyderabad Airport (Standalone)
Annexure C : Hyderabad Airport (Standalone) INR mn Q1FY2022 Q4FY2022 Q1FY2023 Aero Revenue 615 1,190 1,788 Non Aero Revenue 403 741 958 Gross Revenue 1,019 1,931 2,746 Less: Revenue Share 49 86 118 Net Revenue 970 1,845 2,628 Operating Expenditure 937 1,252 1,056 EBITDA 33 593 1,573 EBITDA margin 3%