Financial Outlook: Prepared for all demand scenarios Investor Day 2011

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Financial Outlook: Prepared for all demand scenarios Investor Day 2011"

Transcription

1 Financial Outlook: Prepared for all demand scenarios Investor Day 2011 Stephan Gemkow Member of the Executive Board and CFO Zurich, September 21 st,

2 Growth expectations have been revised downwards High level of uncertainty in many markets GDP forecast development during the last 12 months Sep 10 Mar 11 Sep 11 GDP Growth 2011 (in %) GDP Growth 2012 (in %) Actual GDP forecasts In % World Germany Europe North America South America Asia/Pacific Source: Global Insight 15.Sep

3 We strengthen our profile to cope with every potential development We strengthen our business segments We benefit from our risk management We leverage our strong financial profile Lufthansa can handle every possible demand scenario Lufthansa offers higher stability in bad times and outperformance in recent upswing 2

4 We strengthen our business segments Group structure provides higher stability and upside potential Airlines Aviation Services in EUR Passenger Airline Group Logistics MRO IT Services Catering Revenue bn 2.8bn 4.0bn 2.2bn 0.6bn Operating result m 310m 268m 10m 76m Adj. operating margin Range 6.0% (2007) 11.4% (2010) 8.8% (2008) 8.1% (2006) 4.2% (2007) 0.8% (2009) -8.0% (2009) 7.4% (2010) 1.8% (2010) 3.1% (2008) 3

5 Passenger Airline Group and Logistics business segments Summary Balanced network and customer portfolio Strong airline partnerships Cost management initiatives deliver Investments into modern fleet, product and quality New runways in FRA and MUC provide growth opportunities Fleet roll-over improves underlying costs Fleet structure allows for short-term capacity adjustments Balance and flexibility are key factors in times of high uncertainty 4

6 Balanced regional mix and customer portfolio in passenger business 56 % of corporate customers from various production industries Highly diversified network > 50% of traffic revenue from long-haul routes Strong corporate exposure across all sectors > 50% of corporate customers from production industries Europe Americas Asia/Pacific Mid.East/Africa 10% Others 12% Automotive 8% Metals & Machinery 12% 20% 44% Services 23% 25% Passenger Airline Group FY 2010 Finance & Consulting 12% Supported by world s largest frequent flyer program > 20 million members Pharma & Chemicals 11% Other Production 22% LH Passenger Airlines FY

7 Fleet structure allows flexible and quick capacity decisions Valuable asset base, unencumbered ownership Flexible capacity management Case study crisis 2009: intrayear capacity adjustments 6 % planned Lufthansa Group 67% 33% 2 Unencumbered fleet Encumbered fleet 0 LH Passenger Airlines & Lufthansa Cargo 82% 18% Unencumbered fleet Encumbered fleet actual

8 MRO business segment Provisions weigh on 2011 performance, to be improved as of 2012 again in m EUR H H in % Revenue 2,047 1, % - of which external revenue 1,166 1, % Operating result % Segment result % EBITDA % Segment capex % Employees 19,584 20, % Revenue 157 Operating result

9 IT Services business segment Increased profitability targeted for FY 2011, restructuring underway in m EUR H H in % Revenue % - of which external revenue % Operating result % Segment result % EBITDA % Segment capex % Employees 2,870 2, % Revenue Operating result

10 Catering business segment Profitable growth to be continued in m EUR H H in % Revenue 1,089 1, % - of which external revenue % Operating result % Segment result % EBITDA % Segment capex % Employees 29,210 28, % Revenue 2667 Operating result

11 Leading businesses to be continuously improved Dedicated efficiency and cost-cutting programs Operating results Lufthansa Group (in m EUR) and cost management initiatives Programm 15 Programm 93 Action plan CLIMB

12 Revenue and cost management initiatives in all business segments Examples Passenger Airline Group Revenue Actions Network Optimization Cost Actions Increase in ticket price Base load strategy Focus routes Reduced capacity WI 11/12 Postpone new routes Cancelation HYD Closing down of LHI Postpone project cash out Cost savings overhead Review sales and pricing activities Change of frequencies and aircrafts Reduce overhead costs Dedicated cost initiatives (e.g. maintenance) Secure based loads Fare increases Extend ancillary revenues Sales initiatives Increase fuel surcharge Enhanced revenue management Price increases Strengthen ancillary revenues Frequency reduction Single route cancellations Shift planned IC growth Capacity reductions New routes in Scandinavia New JV with SWISS Capacity adjustments Budget cuts Freeze of personnel cost Closure of bmibaby bases in MAN and CWL Closure of Mainline base in GLS Reduction in budgets Hiring freeze Supplier contributions 11

13 Revenue and cost management initiatives in all business segments Examples Logistics, MRO, Catering and IT-Services Revenue Actions Cost Actions Logistics MRO Enforce surcharge premium Flexible pricing Acquisition of special businesses Capacity shift from Asia/Pacific to North & South Atlantic Sales push Contract management Review FTE targets Reinforce cost management Strengthen cost flexibility Partial reduction of project volume up to 25% Primary cost reduction by 10% vs. budget Catering Assure contract extensions Acquire new customers Realize additional revenue potential Upgrade plus programme with approx individual projects Procurement initiative Lean labour projects IT Services Generate additional revenue - with LH Group companies - and third parties Cutting 1/3 management positions Resizing operational staff 12

14 Solutions for loss making entities Examples Closure after unsuccessful operation Successful restructuring Agreement on restructuring after liquidation process was initiated Looking for strategic solutions 13

15 Cost development H1 and cost outlook 2011 H Outlook FY 2011 Revenue growth vs. cost increase 1.6 : 1 Revenue growth outpaces higher costs Fuel +24.6% Increase to 6.4 bn EUR (incl. AUA and bmi), upside protection and downside participation Staff costs +6.3% Moderate Increase in staff costs (e.g. collective salary increase, higher expenses for pension provisions, exchange rate effects). Increases to be partially compensated D&A +4.8% Increase of 4-6% due to new a/c Fees & Charges +17.8% Increase due to new air traffic tax and volume growth 14

16 Fuel efficiency is structurally improved - hedging gives time to react Comprehensive strategy to optimise short-term and long-term impact 6,5 6,0 Long term: Invest in modern fleet enhances fuel efficiency 5,5 5,0 4,5 4,0 Progress in average fuel consumption Average of the Group s fleet in litres / 100 pkm 4.20 Short term: Fuel hedging reduces volatility Fuel hedging level (in %) ,5 3,0 A Number of months until actual date of consumption Capex plan (in bn EUR) Current fuel hedging levels for the Group e 2012e 2013e Primary invest Secondary invest Financial invest Ø2011: 77 % (break-even: 95 USD/bbl) Ø2012: 58% (break-even: 103 USD/bbl) 15

17 Fuel hedging strategy supports in both directions Upside protection and downside participation Market price 110 Break-even 2011 Break-even 2012 USD / bbl LH price 2011 LH price as of 1 Sep, USD / bbl Downside participation Progressive upside protection 16

18 A modern fleet limits another burden on the industry Airlines to be included in European ETS from 2012 Development of ETS prices March 2008 August 2011 Cash-out scenarios for ETS ETS hedging follows established structural approach Amount of acquired CO 2 certificates 100% t Time period until submission of the certificates m EUR EUR 30 EUR price per certificate 17

19 Lufthansa continues to have a strong liquidity position Excess cash used to fuel capex bn EUR 7,0 6,0 5,0 4,0 3,0 2,0 1,0 2.3 bn EUR Strategic minimum liquidity (2.0 bn EUR until 2010) 5 bn EUR liquidity 0, , ,0 1.9 bn EUR credit lines Our strong liquidity position safeguards our operations and maintains entrepreneurial freedom - irrespective of macro environment 18

20 and a track record of delivering free cash flow Operating cash flow and free cash flow 2003 H H Operating cash flow Free cash flow 19

21 Pension provisions have been systematically reduced Remaining amount includes transitional pension payments Development of pension provisions in bn EUR Recent decision of the Court of Justice of the EU Includes 1.6 bn EUR transitional pension payments for period from retirement to pension date Present value (gross) Net provisions (reported) 20

22 Earnings and financial profile improved despite external burdens Productivity increased as fuel, fees & charges climbed Fuel cost in % of revenue Fees & charges in % of revenue Staff cost in % of revenue Adj. operating margin in % 4.1 Equity ratio in %

23 Dividend policy is embedded in our financial strategy % target corridor for payout ratio Our dividend policy Dividends are linked to operating performance Net profit of Deutsche Lufthansa AG (HGB) must allow for dividend payment In this framework we seek continuity (30-40% payout ratio) Additional payments could result from extraordinary income, provided capital structure targets are met Lufthansa results and dividends Operating Result m ,378 1, Net Profit / loss m , Dividend paid Payout ratio (op.res.) % Dividend yield (gross) %

24 Airline share prices have been hit hard Lufthansa s market cap is back to the level of 2001 Share price development 2011 ytd in % 0 RYA DAX EZJ AB1 LHAG AERL IAG FIN SAS AIFR

25 Disclaimer in respect of forward-looking statements Information published in this presentation with regard to the future development of the Lufthansa Group and its subsidiaries consists purely of forecasts and assessments and not of definitive historical facts. These forward-looking statements are based on all discernible information, facts and expectations available at the time. They can, therefore, only claim validity up to the date of their publication. Since forward-looking statements are by their very nature subject to uncertainties and imponderable risk factors such as changes in underlying economic conditions and rest on assumptions that may not or divergently occur, it is possible that the Group's actual results and development may differ materially from those implied by the forecasts. Lufthansa makes a point of checking and updating the information it publishes. It cannot, however, assume any obligation to adapt forward-looking statements to accommodate events or developments that may occur at some later date. It neither expressly nor conclusively accepts liability, nor gives any guarantee, for the actuality, accuracy and completeness of this data and information. 24

26 Thank you! Stephan Gemkow Member of the Executive Board and CFO London, September 12 th,

Roadshow Presentation March 2013. Seite 1

Roadshow Presentation March 2013. Seite 1 ROADSHOW FY12 Roadshow Presentation March 2013 Seite 1 Disclaimer in respect of forward-looking statements Information published in this presentation with regard to the future development of the Lufthansa

More information

Lufthansa Group Roadshow Presentation March 2014

Lufthansa Group Roadshow Presentation March 2014 Lufthansa Group Roadshow Presentation March 2014 Page 1 Disclaimer in respect of forward-looking statements Information published in this presentation concerning the future development of the Lufthansa

More information

Q1-Q3 2014 Results Press and Analysts' Conference

Q1-Q3 2014 Results Press and Analysts' Conference Q1-Q3 2014 Results Press and Analysts' Conference Carsten Spohr Chairman of the Executive Board and CEO Simone Menne Member of the Executive Board and CFO Frankfurt, October 30 th 2014 Page 1 Disclaimer

More information

Lufthansa Passenger Airlines Lufthansa Investor Day 2011

Lufthansa Passenger Airlines Lufthansa Investor Day 2011 Lufthansa Passenger Airlines Lufthansa Investor Day 2011 Kay Kratky Member of the Lufthansa German Airlines Board Frankfurt & Flight Operations Thomas Klühr Member of the Lufthansa German Airlines Board

More information

Analysts and Investors conference call Q3 2013 results. 14 November 2013

Analysts and Investors conference call Q3 2013 results. 14 November 2013 Analysts and Investors conference call Q3 2013 results 14 November 2013 Management summary Key highlights in Q3 2013 Topline development was satisfactory: Capacity is down by 5.8% (seats) and 3.9% (ASK)

More information

Lufthansa Group Investor Presentation September 2014

Lufthansa Group Investor Presentation September 2014 Lufthansa Group Investor Presentation September 2014 Seite1 Executive Summary The Lufthansa Group Road Map Change in all areas; committed to value creation and shareholder returns Growth focused on new

More information

Information meeting. Cheuvreux Conference September 2010. Philippe Calavia CFO, Air France-KLM

Information meeting. Cheuvreux Conference September 2010. Philippe Calavia CFO, Air France-KLM Information meeting Cheuvreux Conference September 2010 Philippe Calavia CFO, Air France-KLM Air transportation: a growth industry CAGR 2001-11 GDP: +2.7% World Passenger traffic: +5.0% World cargo traffic:

More information

Ladies and gentlemen,

Ladies and gentlemen, Ladies and gentlemen, I also would like to kindly welcome you to the presentation of our nine months figures. After you got the overview from Christoph and as he mentioned in the beginning, I would like

More information

EUROPE S LEADING ONLINE FASHION DESTINATION Q1 2015 Earnings Call 12 May 2015

EUROPE S LEADING ONLINE FASHION DESTINATION Q1 2015 Earnings Call 12 May 2015 EUROPE S LEADING ONLINE FASHION DESTINATION Q1 2015 Earnings Call 12 May 2015 Results highlights and business update 1 REACCELERATED REVENUE GROWTH WHILE PROFITABILITY IMPROVEMENTS CONTINUE Strong Revenue

More information

Cash Drivers and Enterprise Value

Cash Drivers and Enterprise Value Cash Drivers and Enterprise Value Global Investor Forum 2009, Broughton, 1 st & 2 nd April 2009 Gérard Adsuar Corporate Executive Finance & Treasury, EADS 1 1 Safe Harbour Statement Disclaimer This presentation

More information

Ludwigshafen, February 25, 2014

Ludwigshafen, February 25, 2014 Ludwigshafen, February 25, 2014 Analyst Conference FY2013 Cautionary note regarding forward-looking statements This presentation may contain forward-looking statements that are subject to risks and uncertainties,

More information

March 2015 Debt Investor Update

March 2015 Debt Investor Update March 2015 Debt Investor Update E u r o p e s O n l y U l t r a L o w C o s t C a r r i e r Proven, resilient business model Europe s lowest fares/lowest unit costs Europe s No 1, Traffic Europe s No 1,

More information

Deutsche Wohnen AG.» Considerations on Vonovia's offer. 22 October 2015

Deutsche Wohnen AG.» Considerations on Vonovia's offer. 22 October 2015 Deutsche Wohnen AG» Considerations on Vonovia's offer 22 October 2015 1 » Vonovia offer totally inadequate on multiple dimensions 1 Offer represents significant discount to stand-alone intrinsic value

More information

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015 Company Presentation VTG AG Connecting worlds Analyst Conference April 14, 2015 Table of content 1 Highlights 2014 2 Performance & Financials 2014 3 Update on Strategy 4 Outlook 2015 5 Appendix 1 Executive

More information

2013 Half Year Results

2013 Half Year Results 2013 Half Year Results Erwin Stoller, Executive Chairman Joris Gröflin, Chief Financial Officer Agenda 1. Introduction and summary of first half year 2013 2. Financial results first half year 2013 3. Outlook

More information

Speech of the Board of Management. General Shareholders Meeting, 9 June 2015

Speech of the Board of Management. General Shareholders Meeting, 9 June 2015 Speech of the Board of Management General Shareholders Meeting, 9 June 2015 AGENDA Overview of the financial year Steven Holland, CEO Financial figures 2014 Georg Müller, CFO ConnectingChemistry Steven

More information

Aegean Airlines Nine Month 2008 Results. Analysts Conference Call November 12, 2008

Aegean Airlines Nine Month 2008 Results. Analysts Conference Call November 12, 2008 Aegean Airlines Nine Month 2008 Results Analysts Conference Call November 12, 2008 Key Highlights Turnover increased 26% to 468.2m from 370.5m Total passengers served reached 4.6m, +13% above 2007 (+23%

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015 EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015 Results highlights and business update 1 ACCELERATING GROWTH THROUGH TARGETED INVESTMENTS Strong Growth revenue accelerates

More information

Finnair Q3 Result 2012. 26 October 2012

Finnair Q3 Result 2012. 26 October 2012 Finnair Q3 Result 2012 26 October 2012 1 Content Market environment in Q3 Business performance and strategy execution Outlook Financials 2 Finnair Q3 Result, 26 October 2012 Market Environment The global

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Marcus A. Ketter CFO Results Analysts and Investors Conference November 6, Disclaimer This presentation contains forward-looking statements

More information

SAF-HOLLAND Annual Financial Statements 2012. Detlef Borghardt, CEO Wilfried Trepels, CFO. March 14, 2013

SAF-HOLLAND Annual Financial Statements 2012. Detlef Borghardt, CEO Wilfried Trepels, CFO. March 14, 2013 SAF-HOLLAND Annual Financial Statements 212 Detlef Borghardt, CEO Wilfried Trepels, CFO March 14, 213 Executive Summary business volume successfully expanded in 212 1 Group sales increased yoy by 3.4%

More information

2013 Second Quarter Review July 26, 2013 1

2013 Second Quarter Review July 26, 2013 1 213 Second Quarter Review July 26, 213 1 Panalpina Group Basel, July 26, 213 213 Second Quarter Review 213 Second Quarter Review July 26, 213 2 Highlights and key figures Operating and financial review

More information

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011 QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER Media telephone conference 8 November Agenda Overview Financial highlights Jörg Schneider 2 Munich Re (Group) Jörg Schneider 4 Torsten Oletzky 13 Torsten

More information

Goldman Sachs European Financials Conference 3 June 2009

Goldman Sachs European Financials Conference 3 June 2009 Goldman Sachs European Financials Conference 3 June 2009 The outlook for returns in Nordic (Danish) P&C Opportunities vs. Threats by Christian Sagild CEO, Topdanmark 1 Markedspladsen Trend in gross profit

More information

Conference Call Q3-2015/2016 GEROLD LINZBACH, CEO I DIRK KALIEBE, CFO. February 10, 2016 ON THE RIGHT TRACK

Conference Call Q3-2015/2016 GEROLD LINZBACH, CEO I DIRK KALIEBE, CFO. February 10, 2016 ON THE RIGHT TRACK Conference Call Q3-2015/2016 GEROLD LINZBACH, CEO I DIRK KALIEBE, CFO February 10, 2016 ON THE RIGHT TRACK On the right track Heidelberg is on track - the improvement in results due to the strategic realignment

More information

Fleet and funding strategy Solid foundation for growth

Fleet and funding strategy Solid foundation for growth Fleet and funding strategy Solid foundation for growth Erno Hildén, CFO Finnair Capital Markets Day, 22 May 2014 1 Disclaimer This document includes forward-looking statements. These forward-looking statements

More information

INVESTOR CALL RESULTS OF THE FISCAL YEAR 2014/15

INVESTOR CALL RESULTS OF THE FISCAL YEAR 2014/15 INVESTOR CALL RESULTS OF THE FISCAL AR 2014/15 Mannheim, 13 May 2015 Oliver Windholz CEO Helmut Fischer CFO Disclaimer 2015 PHOENIX Pharmahandel GmbH & Co KG This document has been prepared by PHOENIX

More information

2013 Third Quarter Review October 25, 2013 1

2013 Third Quarter Review October 25, 2013 1 October 25, 213 1 Panalpina Group October 25, 213 213 Third Quarter Review October 25, 213 2 Highlights and key figures Operating and financial review Outlook Growth in profitability and margins in the

More information

FITCH RATES RYANAIR HOLDING PLC 'BBB+'; OUTLOOK STABLE

FITCH RATES RYANAIR HOLDING PLC 'BBB+'; OUTLOOK STABLE FITCH RATES RYANAIR HOLDING PLC 'BBB+'; OUTLOOK STABLE Fitch Ratings-New York/London-16 May 2014: Fitch Ratings has assigned Ryanair Holdings plc (RYA) a 'BBB+' Long-term Issuer Default Rating (IDR). The

More information

Investors Day 2012 Swiss Life Asset Managers. Patrick Frost, Group Chief Investment Officer Zurich, 28 November 2012

Investors Day 2012 Swiss Life Asset Managers. Patrick Frost, Group Chief Investment Officer Zurich, 28 November 2012 Investors Day 2012 Swiss Life Asset Managers Patrick Frost, Group Chief Investment Officer Zurich, 28 November 2012 Key messages Swiss Life Asset Managers aims to significantly increase its external customer

More information

Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015

Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015 Investor & Analyst Presentation Acquisition of Centor US Holding Inc. Uwe Röhrhoff, CEO Rainer Beaujean, CFO Duesseldorf, July 28, 2015 Disclaimer 1. This presentation may contain certain forward-looking

More information

SAS Q4 2013/2014 December, 2014

SAS Q4 2013/2014 December, 2014 SAS Q4 2013/20 December, 20 SAS delivers in line with guidance and introduces further efficiency measures Q4 EBT Full year EBT SEK 789* million SEK 347** million SAS EBT* SEK millions +188 789 Commercial

More information

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013

Focus on fleet customers SAF-HOLLAND Annual Financial Statements 2013 Focus on fleet customers SAF-HOLLAND Annual Financial Statements 213 Detlef Borghardt, CEO Wilfried Trepels, CFO March 13, 214 Agenda 1 Financials 3 2 Appendix 21 2 Executive Summary 1 2 3 Group sales

More information

Conference Call Q1-2015/2016

Conference Call Q1-2015/2016 Conference Call Q1-2015/2016 DIRK KALIEBE August 12, 2015 Highlights Q1-2015/2016 Strategic reorientation is taking effect Good order situation, improved backlog Strong revenue growth due to solid order

More information

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer 1 FY RESULTS 27 FEBRUARY 2015 Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words

More information

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015 Drägerwerk AG & Co. KGaA Analyst Conference 2015 Frankfurt, March 11, 2015 Disclaimer This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any

More information

H1/2014 Results VTG AG Growing together. Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO August 21, 2014

H1/2014 Results VTG AG Growing together. Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO August 21, 2014 H1/2014 Results VTG AG Growing together Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO August 21, 2014 Table of content 1 Discussion of H1/2014 2 Outlook FY 2014 3 Questions & Answers 4 Financial Calendar

More information

Klöckner & Co SE. FY 2013 Results

Klöckner & Co SE. FY 2013 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO FY 2013 Results Press Conference March 6, 2014 Disclaimer This presentation contains forward-looking statements which reflect the current

More information

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer 1 Q1 RESULTS 2015 30 APRIL 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

Joe Randell President and Chief Executive Officer. Rick Flynn Chief Financial Officer. Nathalie Megann Director, Investor Relations.

Joe Randell President and Chief Executive Officer. Rick Flynn Chief Financial Officer. Nathalie Megann Director, Investor Relations. Joe Randell President and Chief Executive Officer Rick Flynn Chief Financial Officer Nathalie Megann Director, Investor Relations August 2015 Disclaimer CAUTION REGARDING FORWARD-LOOKING INFORMATION Certain

More information

FINANCIAL RESULTS Q2 2015

FINANCIAL RESULTS Q2 2015 FINANCIAL RESULTS Q2 2015 CEO CHRISTIAN RYNNING-TØNNESEN CFO HALLVARD GRANHEIM 23 July 2015 Highlights Solid underlying results (EBITDA) - Lower Nordic prices offset by increased production and contribution

More information

Agenda. Update on Transform 2015. 2012: first effects of plan. Reinforcement of our competitive advantages. Conclusions. Information meeting

Agenda. Update on Transform 2015. 2012: first effects of plan. Reinforcement of our competitive advantages. Conclusions. Information meeting Agenda Update on Transform 2015 2012: first effects of plan Reinforcement of our competitive advantages Conclusions 2 Transform 2015 Transform 2015: Levers and objectives 1 2 Limited capacity growth Investment

More information

FLUGHAFEN WIEN AG. Q1/2015 Results

FLUGHAFEN WIEN AG. Q1/2015 Results FLUGHAFEN WIEN AG Q1/2015 Results Q1/2015: Earnings improvement despite weak traffic results Good business development of the company in Q1/2015: clearly improved net profit 1) of 14.1 million (+15.4%)

More information

Q1 2010 Results Analyst Presentation Henk van Dalen, CFO 3 May 2010

Q1 2010 Results Analyst Presentation Henk van Dalen, CFO 3 May 2010 Q1 2010 Results Analyst Presentation Henk van Dalen, CFO 3 May 2010 Overall trading conditions continue to improve GROUP Operating income 251 million ( 163 million in Q1 20); quarter benefited from four

More information

Hannover Re - before and after the crisis. Roland Vogel CFO

Hannover Re - before and after the crisis. Roland Vogel CFO Roland Vogel CFO Bank of America Merrill Lynch, 16th Annual Banking & Insurance CEO Conference London, 6 October 211 HR Group Diversification Opport. & cycle man. non-life R/I S'what different L/H R/I

More information

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 Earnings Call 26 November 2014

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 Earnings Call 26 November 2014 EUROPE S LEADING ONLINE FASHION DESTINATION Q3 Earnings Call 26 November 2014 Results highlights and business update 1 CLEAR FOCUS ON EXECUTION Continued strong revenue growth above market (Revenue in

More information

AIR BERLIN PLC. ANALYSTS & INVESTORS PRESENTATION Berlin, 16 March 2012

AIR BERLIN PLC. ANALYSTS & INVESTORS PRESENTATION Berlin, 16 March 2012 AIR BERLIN PLC ANALYSTS & INVESTORS PRESENTATION Berlin, 16 March 2012 2 AGENDA Analysts & Investors meeting, 16 Mar. 2012 page Topic 1 Review 3 Topic 2 Overview 2012 Macro-economic development Focusing

More information

Deutsche Wohnen AG.» Investor Presentation. September 2010

Deutsche Wohnen AG.» Investor Presentation. September 2010 Deutsche Wohnen AG» Investor Presentation September 21 1 » Agenda 1 2 3 4 Introduction to Deutsche Wohnen Portfolio Overview and Operations Financial Highlights Guidance and Strategic Objectives 2 » 1

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Q3 2014 Results Press Telephone Conference November 6, 2014 Disclaimer This presentation contains forward-looking statements which reflect

More information

EUROPE S LEADING ONLINE FASHION DESTINATION Q4 / Full-Year 2014 Earnings Call 5 March 2015

EUROPE S LEADING ONLINE FASHION DESTINATION Q4 / Full-Year 2014 Earnings Call 5 March 2015 EUROPE S LEADING ONLINE FASHION DESTINATION Q4 / Full-Year 2014 Earnings Call 5 March 2015 Results highlights and business update 1 CONTINUED CLEAR FOCUS ON EXECUTION Strong revenue growth outperforms

More information

Investors Presentation Final Figures Financial Year 2014 / 2015. Solutions made in plastic

Investors Presentation Final Figures Financial Year 2014 / 2015. Solutions made in plastic Page 1 Investors Presentation, Final Figures Financial Year 2014 / 2015 Investors Presentation Final Figures Financial Year 2014 / 2015 Solutions made in plastic Page 2 Investors Presentation, Final Figures

More information

Q3 / 9M 2014 Lufthansa Group Roadshow Presentation

Q3 / 9M 2014 Lufthansa Group Roadshow Presentation Q3 / 9M 2014 Lufthansa Group Roadshow Presentation Page 1 The Lufthansa Group: World's largest aviation group with leading airlines and aviation services Hub airlines to improve profitability at current

More information

Analysts and Investors conference call Q2 2014 results 21 August 2014

Analysts and Investors conference call Q2 2014 results 21 August 2014 Analysts and Investors conference call Q2 2014 results 21 August 2014 DISCLAIMER This presentation has been prepared by Air Berlin PLC. No representation, warranty or undertaking, express or implied, is

More information

Q4 2014 Highlights. 22% revenue growth y.o.y. Unit cost (CASK) increased by 3% y.o.y to NOK 0.43. NOK 0.5 bn loss related to hedges for 2015

Q4 2014 Highlights. 22% revenue growth y.o.y. Unit cost (CASK) increased by 3% y.o.y to NOK 0.43. NOK 0.5 bn loss related to hedges for 2015 Norwegian Air Shuttle ASA Q4 2014 Presentation Q4 2014 Highlights 22% revenue growth y.o.y Driven by long-haul expansion Received three new 737-800 s in Q4 replacing older aircraft 45% growth in ancillary

More information

The 1st CFO Summit in the Republic of Serbia Cash Flow Reducing Spending

The 1st CFO Summit in the Republic of Serbia Cash Flow Reducing Spending The 1st CFO Summit in the Republic of Serbia Cash Flow Reducing Spending May 31, 2012 Financially constrained companies are responding to crisis conditions by taking action in the obvious areas Easy-to-Implement

More information

Norwegian Air Shuttle ASA

Norwegian Air Shuttle ASA Norwegian Air Shuttle ASA Q4 2015 Presentation 11 February 2016 Highlights Launched routes in Q4 to the Caribbean (Puerto Rico, St Croix, Martinique, Guadeloupe) and domestic Spain. New base in Italy in

More information

Photo: Bjørn Morgan / August 2014

Photo: Bjørn Morgan / August 2014 Norwegian Air Shuttle ASA Q3 2014 Presentation Photo: Bjørn Morgan / August 2014 Double digit revenue growth in Q3 driven by International Group revenues of MNOK 6,337 in Q3 2014 +30 % 6 000 5 000 4 000

More information

Annual Press Conference 2015. 18 March 2015

Annual Press Conference 2015. 18 March 2015 Annual Press Conference 2015 18 March 2015 AGENDA Annual Press Conference 2015 Topic Speaker Time 1. Welcome Hubertus Spethmann 10.00 am 2. 2014 at a glance 2.1. Highlights Steven Holland 2.2. Financial

More information

E.ON Debt Investor Update Call. Cleaner & better energy. Dr. Marcus Schenck, CFO September 3, 2012

E.ON Debt Investor Update Call. Cleaner & better energy. Dr. Marcus Schenck, CFO September 3, 2012 E.ON Debt Investor Update Call Cleaner & better energy Dr. Marcus Schenck, CFO September 3, 2012 Agenda Operating update Financial update 1 Cleaner & better energy Europe Investment Performance Outside

More information

December 2010 2008 Interim Results 6 August 2008

December 2010 2008 Interim Results 6 August 2008 Cathay Pacific Airways 2010 Analyst & Investor Briefing Cathay Pacific Airways December 2010 2008 Interim Results 6 August 2008 1 Airline Strategy Grow our international network, expand frequencies and

More information

CAPITAL MARKETS DAY 2014. Heusenstamm, Germany 26 November 2014

CAPITAL MARKETS DAY 2014. Heusenstamm, Germany 26 November 2014 CAPITAL MARKETS DAY 2014 Heusenstamm, Germany 26 November 2014 Braas Monier More than a macro call Pepyn Dinandt, Group CEO First nine months 2014 at a glance Page 2 European recovery still expected to

More information

2 N D Q U A R T E R 2 0 1 6. O s l o, 1 8 J u l y 2 0 1 6

2 N D Q U A R T E R 2 0 1 6. O s l o, 1 8 J u l y 2 0 1 6 2 N D Q U A R T E R 2 1 6 O s l o, 1 8 J u l y 2 1 6 Agenda Per A Sørlie, President & CEO Highlights Business areas Outlook Per Bjarne Lyngstad, CFO Financial performance 2 Highlights 2 nd quarter 216

More information

CONFERENCE CALL Q1-Q3 2010. 10 November 2010

CONFERENCE CALL Q1-Q3 2010. 10 November 2010 CONFERENCE CALL Q1-Q3 2010 10 November 2010 Agenda Overview Q1-Q3 Q3 2010 Dr Helmut Leube, Chairman of the Management Board Key financials i Q1-Q3 Q3 2010 Dr Margarete Haase, CFO Outlook Dr Helmut Leube,

More information

First Half 2015 Results (January-June) Madrid, July 24 th 2015

First Half 2015 Results (January-June) Madrid, July 24 th 2015 First Half 2015 Results (January-June) Madrid, July 24 th 2015 Table of Contents 1. 1H 2015 Highlights 2. Backlog Execution 3. Update on Tulpar Transaction 4. Commercial Activity 5. Profit & Loss 6. Cash

More information

HAMBURGER HAFEN UND LOGISTIK AG

HAMBURGER HAFEN UND LOGISTIK AG HAMBURGER HAFEN UND LOGISTIK AG ANALYSTS CONFERENCE ON FULL YEAR 2008 RESULTS 31 MARCH 2009 Hamburger Hafen und Logistik AG DISCLAIMER The facts and information contained herein are as up to date as is

More information

Commerzbank Well positioned for the upcoming challenges. Commerzbank German Investment Seminar 2012

Commerzbank Well positioned for the upcoming challenges. Commerzbank German Investment Seminar 2012 Commerzbank Well positioned for the upcoming challenges Commerzbank German Investment Seminar 2012 Commerzbank with major achievements in 2011 Op. Profit ( bn) -0,8 FY 09 1,0 FY 10 3,0 9M 11 Operating

More information

Deutsche Wohnen AG.» Full Year Results 2009. Conference Call, 26 March 2010

Deutsche Wohnen AG.» Full Year Results 2009. Conference Call, 26 March 2010 Deutsche Wohnen AG» Full Year Results 2009 Conference Call, 26 March 2010 1 » Agenda 1. Results of the financial year 2009 2. Financial highlights 2009 3. Strategic objectives 4. Forecast 2 » 1 Results

More information

Q1/2015 Results VTG AG Connecting worlds. Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO May 21, 2015

Q1/2015 Results VTG AG Connecting worlds. Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO May 21, 2015 Q1/2015 Results VTG AG Connecting worlds Dr. Heiko Fischer, CEO Dr. Kai Kleeberg, CFO May 21, 2015 Table of content 1 Discussion of Q1/2015 2 Outlook FY 2015 3 Questions & Answers 4 Financial Calendar

More information

HAMBURGER HAFEN UND LOGISTIK AG ANALYSTS CONFERENCE

HAMBURGER HAFEN UND LOGISTIK AG ANALYSTS CONFERENCE HAMBURGER HAFEN UND LOGISTIK AG ANALYSTS CONFERENCE 31 MARCH 2008 Hamburger Hafen und Logistik AG DISCLAIMER The facts and information contained herein are as up to date as is reasonably possible and are

More information

Electricity Supply Board

Electricity Supply Board Electricity Supply Board Investor Presentation 2012 Interim Results December 2012 Disclaimer Forward looking statements: This presentation contains certain forward-looking statements with respect to ESB

More information

Conference Call on 1 Jan 2011 Non-Life Treaty Renewals

Conference Call on 1 Jan 2011 Non-Life Treaty Renewals Conference Call on Jan 2 Non-Life Treaty Renewals Hannover, 2 February 2 Important note Unless otherwise stated, the s part of the presentation is based on underwriting-year (U/Y) figures. This basis is

More information

NORWEGIAN AIR SHUTTLE ASA

NORWEGIAN AIR SHUTTLE ASA NORWEGIAN AIR SHUTTLE ASA SECOND QUARTER AND FIRST HALF REPORT 2009 HIGHLIGHTS First half revenue up by 24.5% to MNOK 3,287.8, quarterly revenue up by 22.5 % to MNOK 1,900.5 (1,551.2). Earnings before

More information

CONFERENCE CALL H1 2009. 12 August 2009

CONFERENCE CALL H1 2009. 12 August 2009 CONFERENCE CALL H1 2009 12 August 2009 Agenda Dr Margarete Haase, CFO Overview H1 2009 Key financials H1 2009 "MOVE" programme and outlook Appendix 2 Highlights of H1 2009 "MOVE" programme with very good

More information

Hannover Re - growth opportunities despite the crisis? Dr. Michael Pickel Member of the Executive Board

Hannover Re - growth opportunities despite the crisis? Dr. Michael Pickel Member of the Executive Board Hannover Re - growth opportunities despite the crisis? Dr. Michael Pickel Member of the Executive Board 9th WestLB Deutschland Conference Frankfurt, 16 November 211 HR Group Diversification Opport. & cycle

More information

ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY

ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY Net balance responses. =no change ECONOMIC PERFORMANCE OF THE AIRLINE INDUSTRY This new semi-annual report replaces the quarterly Airlines Financial Forecast, and takes a broader look at how the industry

More information

Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003

Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS. North America Investor Forum New York 7 th October 2003 Reliable Performance and Increasing Growth Hans-Peter Ring Chief Financial Officer EADS North America Investor Forum New York 7 th October 2003 1 1 Solid and Resilient Performance Financial Highlights

More information

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014 Eutelsat Communications Full Year 2013-2014 Results July 31, 2014 1 Agenda FY 2013-2014 highlights Operational performance Financial overview Outlook -2- FY 2013-2014: Key Figures Revenue Revenues of 1,348

More information

Vattenfall Q2 2013 results

Vattenfall Q2 2013 results Vattenfall Q2 2013 results Øystein Løseth, CEO and Ingrid Bonde, CFO Conference call for analysts and investors, 23 July 2013 Q2 Highlights Impairment charges on thermal assets and goodwill amounting to

More information

Raymond James Global Airline and Transportation Conference

Raymond James Global Airline and Transportation Conference Raymond James Global Airline and Transportation Conference United Continental Holdings, Inc. November 6, 2014 Jim Compton Vice Chairman and Chief Revenue Officer Safe Harbor Statement Certain statements

More information

2015 OUTLOOK RAISED AGAIN

2015 OUTLOOK RAISED AGAIN 1 2015 OUTLOOK RAISED AGAIN Q2 2015 20 August 2015 Copenhagen CONTENTS Overview Q2 2015 Outlook 2015 MGO transition Channel Semi-annual dividends and stock split Strategy, goals and priorities Appendix:

More information

Klöckner & Co SE A Leading Multi Metal Distributor

Klöckner & Co SE A Leading Multi Metal Distributor Klöckner & Co SE A Leading Multi Metal Distributor UBS Global Basic Materials Conference June 10, 2009 in London Gisbert Rühl CFO Agenda 1. Overview 2. Q1 results 2009 and market update 3. Financing and

More information

2 nd Quarter 2015. Torgrim Reitan, CFO

2 nd Quarter 2015. Torgrim Reitan, CFO 2 nd Quarter 2015 Torgrim Reitan, CFO Second quarter 2015 Encouraging results in current market environment Efficiency improvements coming through Solid operational performance Strong cash flow and reduced

More information

Strong Q2 Outlook increased

Strong Q2 Outlook increased www.osram.com Strong Q2 Outlook increased Q2 FY15 Management Presentation (preliminary figures) April 29, 2015 Light is OSRAM Safe Harbor Statement This presentation may contain forward-looking statements

More information

Finance. Eivind Kallevik. Capital Markets Day 2013 (1)

Finance. Eivind Kallevik. Capital Markets Day 2013 (1) Finance Eivind Kallevik Capital Markets Day 2013 (1) Agenda Financial policy Financial reporting going forward Internal measures External results Earning drivers (2) Financial policy 01 (3) Priorities

More information

SAS Group Q4 2012 Media/analyst presentation

SAS Group Q4 2012 Media/analyst presentation SAS Group Q4 2012 Media/analyst presentation December 12, 2012 1 Break-even result in 2012 despite 1.6 bn SEK higher fuel cost 23 MSEK EBT (before non-recurring items) despite 1.6 bn SEK higher fuel cost

More information

Investors Presentation Solutions made in plastic

Investors Presentation Solutions made in plastic Page 1 Investors Presentation, Q3: Nine Month Figures 2014 / 2015 Investors Presentation Q3: Nine Month Figures 2014 / 2015 Solutions made in plastic Page 2 Investors Presentation, Q3: Nine Month Figures

More information

Industry Monitor. The EUROCONTROL bulletin on air transport trends. EUROCONTROL statistics and forecasts. Issue N 136. 22/12/11

Industry Monitor. The EUROCONTROL bulletin on air transport trends. EUROCONTROL statistics and forecasts. Issue N 136. 22/12/11 Issue N 136. 22/12/11 Industry Monitor The EUROCONTROL bulletin on air transport trends European flights down 1% in November, significantly lower than forecasted. The low-cost segment was down 3.8% on

More information

Bertelsmann Annual Results 2010 Investor Conference Call

Bertelsmann Annual Results 2010 Investor Conference Call Bertelsmann Annual Results 2010 Investor Conference Call March 29, 2011 Dr. Thomas Rabe Member of the Executive Board and Chief Financial Officer Bertelsmann AG Summary and highlights Operating performance

More information

FLUGHAFEN WIEN AG. Results Q1-3/2015

FLUGHAFEN WIEN AG. Results Q1-3/2015 FLUGHAFEN WIEN AG Results Q1-3/2015 Q1-3/2015: Improved traffic results - Disproportionally high increase in earnings Recovery of passenger volume: traffic results positive once again, showing 1.5% rise

More information

Aegean Airlines 2007 Review & Business Outlook. Analysts Conference Call February 20, 2008

Aegean Airlines 2007 Review & Business Outlook. Analysts Conference Call February 20, 2008 Aegean Airlines 2007 Review & Business Outlook Analysts Conference Call February 20, 2008 Agenda 2007 Review Business Outlook Key highlights Domestic network International network Activity Our fleet Financials

More information

Rocket Internet Co-Investment Fund

Rocket Internet Co-Investment Fund Presentation1 Agenda Page [ P R E S E N T A T I O N T I T L E ] April 2015 Rocket Internet Co-Investment Fund [ C L I E N T N A M E ] 19 th January 2016 1 Disclaimer This document is being presented solely

More information

Stabilus at a glance. April 2014

Stabilus at a glance. April 2014 Stabilus at a glance April 2014 Stabilus Overview Sales: 460mm Employees: ~4,000 Plants: 11 Sales by region 1 : Europe: 53% NAFTA: 34% Asia / RoW: 13% Automotive Industrial Gas springs Powerise Capital

More information

2014 FULL YEAR RESULTS

2014 FULL YEAR RESULTS 2014 FULL YEAR RESULTS -3% -8% Financial and Operational Highlights Operational Revenue mntl (1) Ancillary Revenue/Pax Load Factor 29% 16% 13% 22% TRY mn 2.38 4,7 TRY mn 3.08 1,7 TRYm n 569,3 TRYm n 661,9

More information

Ryanair Holdings PLC

Ryanair Holdings PLC Primary Credit Analyst: Olli Rouhiainen, London (44) 20-7176-3769; olli.rouhiainen@standardandpoors.com Table Of Contents Initial Analytical Outcome ("Anchor") And Rating Result Rationale Outlook Standard

More information

NN GROUP FINANCIAL SUPPLEMENT 4Q2014

NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 NN GROUP FINANCIAL SUPPLEMENT 4Q2014 INTRODUCTION The Financial Supplement includes quarterly financial trend data and is published on a quarterly basis. Rounding could

More information

Flybe - 2012/13 Half-year Results. Analyst and Investor Presentation

Flybe - 2012/13 Half-year Results. Analyst and Investor Presentation Flybe - 2012/13 Half-year Results Analyst and Investor Presentation 8 November 2012 Agenda 2 Introduction Jim French, Chairman & CEO Financial Review Strategy Strategic Update Review & Business Review

More information

telegate Group Financial Results 2013 Munich, March 13, 2014

telegate Group Financial Results 2013 Munich, March 13, 2014 telegate Group Financial Results 2013 Munich, March 13, 2014 Agenda Digital business highlights Reasons behind improvements Financials 2013 Outlook 2 2013 digital business KPIs ARPA new customers Up by

More information

E. V. Bulyatkin CAPITAL STRUCTURE

E. V. Bulyatkin CAPITAL STRUCTURE E. V. Bulyatkin Graduate Student Edinburgh University Business School CAPITAL STRUCTURE Abstract. This paper aims to analyze the current capital structure of Lufthansa in order to increase market value

More information