Singapore Airlines Group Analyst/Media Briefing FY RESULTS 17 MAY 2013 THE PARENT AIRLINE FY2012/13 RESULTS

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Singapore Airlines Group Analyst/Media Briefing FY2012-13 13 RESULTS 17 MAY 2013 THE PARENT AIRLINE FY2012/13 RESULTS"

Transcription

1 Singapore Airlines Group Analyst/Media Briefing FY RESULTS 17 MAY 2013 THE PARENT AIRLINE FY2012/13 RESULTS

2 THE PARENT AIRLINE COMPANY RESULTS FY2012/13 4Q/12 $million Better/ (Worse) $million 2012/13 $million Better/ (Worse) $million Total Revenue 2,999 (17) 12, Total Expenditure 3,068 (42) 12,200 (311) -Fuel Cost 1, ,979 (90) - Fuel Hedging Gain (20) - (28) 8 -Ex-fuel Cost 1,855 (60) 7,249 (229) Operating (Loss)/Profit (69) (59) Operating (Loss)/Profit Margin (%) (2.3) (2.0) pts Slide 3 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE FY2012/13 4Q/12 % Change 2012/13 % Change Available Seat-KM (million) 29, , Revenue Pax-KM (million) 23, , Passenger Load Factor (%) pt pts Slide 4

3 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE FY2012/13 4Q/12 % Change 2012/13 % Change Passenger Yield ( /pkm) Passenger Unit Cost ( /ask) Passenger Breakeven Load Factor (%) pts pts Slide 5 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE Passenger Load Factor (%) /09 09/10 10/11 11/12 12/13 Slide 6

4 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE (%) Passenger Load Factor Breakeven Load Factor /09 09/10 10/11 11/12 12/13 Slide 7 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE (%) Passenger Load Factor Breakeven Load Factor /09 09/10 10/11 11/12 12/13 Slide 8

5 THE PARENT AIRLINE COMPANY - PASSENGER YIELD Monthly Pax Yields (Including Fuel Surcharge) /pkm Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Slide 9 THE PARENT AIRLINE COMPANY FUEL PRICE AND EXPENDITURE - TREND 1,557 1,743 1, Fuel Price Before Hedging ($ million) 160 Fuel Price before hedging (USD/BBL) 2, Fuel Cost before hedging , , , , , Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ,251 1,243 1,241 1,262 1,233 Slide

6 THE PARENT AIRLINE COMPANY COST COMPOSITION FY2012/13 Others 19.8% Passenger Costs 5.4% (+0.4% pt) Handling Costs 7.1% (+0.1% pt) Staff Costs 13.2% (+0.6% pt) Fuel 40.6% (-0.3% pt) Aircraft Depreciation & Rentals 13.9% (-0.8% pt) Slide 11 THE PARENT AIRLINE COMPANY TOP 5 EXPENDITURE FY2012/13 Fuel Aircraft Depr. & Lease Rentals Staff Costs Handling Costs 1,698 (-2.6%, -$46M) 1,610 (+7.6%, +$114M) 861 (+3.6%, +$30M) 4,951 (+1.7%, +$82M) FY12/13 FY11/12 Passenger Costs 658 (+10.6%, +$63M) ($ million) 0 1,000 2,000 3,000 4,000 5,000 Slide 12

7 THE PARENT AIRLINE COMPANY FUEL EXPENDITURE FY12/13 ($ million) 5,250 5,000 4, ,951 (+82) 4,750 4,500 Higher volume uplifted Lower weighted average fuel price Weaker US Dollar Higher hedging gain 4,250 4,000 FY11/12 Volume Price Exchange Hedging FY12/13 Slide 13 THE GROUP FY2012/13 RESULTS

8 GROUP REVENUE FY2012/13 ($ million) Half Full Year Revenue 15,997 $15,098M $7,097M 16,500 16,000 15,500 15,000 14,500 14,000 14,525 14,858 15,098 Year-on-Year $240M +1.6% 13,500 13,000 12, ,707 08/09 09/10 10/11 11/12 12/13 Slide 15 GROUP EXPENDITURE FY2012/13 ($ million) Half Full Year Expenditure Revenue $14,869M $7,097M 16,500 16,000 15,500 15,000 14,500 14,000 15,093 14,572 14,869 Year-on-Year $297M +2.0% 13,500 13,254 13,000 12,500 12, /09 09/10 10/11 11/12 12/13 Slide 16

9 GROUP OPERATING PROFIT FY2012/13 ($ million) Half Full Year Op Revenue Profit $7,097M $229M 2,000 1,500 1, ,271 Year-on-Year $57M -19.9% /09 09/10 10/11 11/12 12/13 Slide 17 GROUP OPERATING PROFIT FY2012/13 ($ million) / / Slide 18 Q1 Q2 Q3 Q4-44

10 GROUP OPERATING PROFIT FY2012/13 ($ million) / / % % Slide (n.m) Q1 Q2 Q3 Q (n.m.) CONTRIBUTION TO GROUP OPERATING PROFIT FY2012/13 ($ million) 2012/ /12 Change % Change Singapore Airlines SIA Engineering SilkAir SIA Cargo (167) (119) Slide 20

11 GROUP NET PROFIT FY2012/13 ($ million) Half Full Year Net Revenue Profit $7,097M $379M 1,500 1,250 1, ,062 1,092 Year-on-Year $43M +12.8% /09 09/10 10/11 11/12 12/13 Slide 21 GROUP NET PROFIT FY2012/13 $M Lower operating profit Gain on aircraft disposal vs loss last year Net interest income vs net finance charges last year Higher exceptional items Higher share of profits from associates & JVs, and others 379 (+43) Operating Aircraft Profit Disposal Interest Exceptional Items Others Slide 22

12 DIVIDENDS FY2012/13 Earnings Per Share ( ) 2012/ / Interim Dividend Per Share ( ) Proposed Final Dividend Per Share ( ) Total Ordinary Dividend Per Share ( ) Slide 23 FLEET DEVELOPMENT - SIA No. of Aircraft Operating Fleet at 31 March 13 IN: Delivery of A Delivery of B ER Reinstatement of B ER OUT: Decommissioned B OUT: Decommissioned A Operating Fleet at 31 March Slide 24

13 FLEET DEVELOPMENT - SLK No. of Aircraft Operating Fleet at 31 March 13 IN: Delivery of A Delivery of B OUT: Decommissioned A Operating Fleet at 31 March Slide 25 FLEET DEVELOPMENT - SCOOT No. of Aircraft Operating Fleet at 31 March 13 IN: Delivery of B Operating Fleet at 31 March 14 5 Slide 26

14 GROUP CAPITAL EXPENDITURE FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 Aircraft 1,650 2,100 2,800 2,350 2,900 Other Assets Total 1,850 2,300 2,950 2,450 3,000 Slide 27 GROUP FUEL HEDGING POSITION Percentage hedged for period Apr 13 to Mar (%) Avg hedged price for period Apr 13 to Mar (USD/BBL - Jet Fuel) Slide 28

15 MEETING CHALLENGES SIA S ACHIEVEMENTS Top 50 World s Most Admired Companies Top Worldwide Airline Best International First and Business Class Award Best A380 Product Asia s Leading Airline Slide 30

16 CHALLENGING ENVIRONMENT Sluggish recovery in United States Europe debt crisis High fuel prices Keen Competition Slide 31 ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Airline partnerships Portfolio of airlines - Tapping different market segments Products & Services Slide 32

17 ONGOING INITIATIVES Grow Asia and Australia network Slide 33 GROW ASIA & AUSTRALIA NETWORK SIA Group Weekly Flight Frequency Destination % Growth Australia % China % India % Southeast Asia % Slide 34

18 ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Slide 35 SQ MI SYNERGY Greater coordination between SQ and MI in network planning and sales efforts from 2011 % Change from 2010 to 2012 Number of flown bookings + 43% with both SQ & MI segments Slide 36

19 ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Airline partnerships Slide 37 AIRLINE PARTNERSHIPS % Change from 2011 Increase in destinations outside + 41% of SQ network as a result of code-sharing Increase in SQ marketing flights + 59% per week on code-share partners Slide 38

20 AIRLINE PARTNERSHIPS Slide 39 Virgin Australia First codeshare agreement in Jun 11 Jun 11 vs Jun 13 Increase in SQ/MI flights between Singapore and Australia per week + 20 Increase in Available Seat-Kilometer between Singapore and Australia per week + 18% Scandinavian Airlines Joint-service operations commenced in Feb 13 SQ increased frequency to Copenhagen from 3 to 5 flights per week ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Airline partnerships Portfolio of airlines Tapping different market segments Slide 40

21 TAPPING DIFFERENT MARKET SEGMENTS Fast growing market Asia Pacific 5-Year CAGR from 2008 to 2012 Full Service Carriers +5% Low Cost Carriers +20% Market share of Low Cost Carriers Region Market Share of LCCs as of Apr 13 Europe 38% United States 31% Asia Pacific 24% Slide 41 TAPPING DIFFERENT MARKET SEGMENTS Scoot Started operations in Jun 12 with two B772s Fleet grew to four B772s as at Mar 13 Plus one B772 in Apr 13 Expected delivery of 20 B787s from end-2014 Tiger Airways Support recent fundraising, potential increase in shareholding from 32.7% to 46.5% Slide 42

22 ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Airline partnerships Portfolio of airlines Tapping different market segments Products & Services Slide 43 PRODUCTS & SERVICES Continue to innovate and push boundaries Upcoming exciting offerings New Seats on second tranche of B ER New Inflight Entertainment System New Lounge Design Concept Customer Experience Management Slide 44

23 CUSTOMER EXPERIENCE MANAGEMENT Objectives view of our customers Proactive and personalized services at all possible touch points Deliver an enhanced travel experience that focuses on meeting more of our customers travel needs Take SIA s service leadership to a higher level Project Status Technology partner identified, to be announced soon Soft skills training commenced in early 2013 Slide 45 ONGOING INITIATIVES Grow Asia and Australia network SQ MI synergy Airline partnerships Portfolio of airlines - Tapping different market segments Products & Services Slide 46

24 Thank You

SIA ANALYST/MEDIA BRIEFING FY2014/15 Results 15 May 2015 THE PARENT AIRLINE FY2014/15 RESULTS

SIA ANALYST/MEDIA BRIEFING FY2014/15 Results 15 May 2015 THE PARENT AIRLINE FY2014/15 RESULTS SIA ANALYST/MEDIA BRIEFING FY2014/15 Results 15 May 2015 THE PARENT AIRLINE FY2014/15 RESULTS 1 THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE FY2014/15 4Q/14 % Change 14/15 % Change Available Seat-KM

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

Financial Results 3 rd Quarter MAR/2016 (FY2015)

Financial Results 3 rd Quarter MAR/2016 (FY2015) Financial Results MAR/2016 (FY2015) January 29 th, 2016 CONTENTS P.1 P.2 P.3 P.4~ Overview of FY MAR/16 Results Operating Revenue Operating Profit (JPY Bn) 1,030 1,020 1,010 +1.0Bn 1,022.3 1,023.4 (+0.1%)

More information

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network

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

TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012

TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012 TIGER AIRWAYS HOLDINGS LIMITED Media Release 24 January 2013 TIGER AIRWAYS POSTS PROFIT AFTER TAX OF $2 MILLION FOR THE QUARTER ENDED 31 DECEMBER 2012 Tiger Airways Holdings Limited has posted a profit

More information

Analysts and Investors conference call Q1 2014 results 15 May 2014

Analysts and Investors conference call Q1 2014 results 15 May 2014 Analysts and Investors conference call Q1 2014 results 15 May 2014 DISCLAIMER This presentation has been prepared by Air Berlin PLC. No representation, warranty or undertaking, express or implied, is made

More information

Analysis One Code Desc. Transaction Amount. Fiscal Period

Analysis One Code Desc. Transaction Amount. Fiscal Period Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00

More information

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007

More information

easyjet plc Year to 30 September 2011 Pre-close statement presentation

easyjet plc Year to 30 September 2011 Pre-close statement presentation EZYRIDER\Presentations\20110901 - Mgmt Strategy Presentation\Optimise returns MAIN - 190811 v 42.pptx easyjet plc Year to 30 September 2011 Pre-close statement presentation 1 EZYRIDER\Presentations\20110901

More information

SAS Q3 2014/2015 TELECONFERENCE 08.09.2015

SAS Q3 2014/2015 TELECONFERENCE 08.09.2015 SAS Q3 2014/2015 TELECONFERENCE 08.09.2015 Q3 brief summary Q3 update Commercial initiatives paying off EuroBonus members up 15% - now 4 million Summer program with 47 seasonal routes well received by

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

Air China Limited Announces 2013 Annual Results

Air China Limited Announces 2013 Annual Results Air China Limited Announces 2013 Annual Results Hong Kong March 26, 2014 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

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

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

Company and its 12. Page IN EQUITY T OF CASH FLOWS AUDIT REVIEW OUTLOOK DIVIDEND

Company and its 12. Page IN EQUITY T OF CASH FLOWS AUDIT REVIEW OUTLOOK DIVIDEND TIGER AIRWAYS HOLDINGS LIMITED Co. Reg. No. 200701866W (Incorporated in the Republic of Singapore) THIRD QUARTER AND NINE MONTHS FINANCIAL STATEMENTS The Board of Directors (the Board ) of Tiger Airways

More information

Air Berlin PLC Dusseldorf / Cologne 29 November 2012 Roadshow Bankhaus Lampe

Air Berlin PLC Dusseldorf / Cologne 29 November 2012 Roadshow Bankhaus Lampe Air Berlin PLC Dusseldorf / Cologne 29 November 2012 Roadshow Bankhaus Lampe airberlin in a nutshell: Second largest airline in Germany (in terms of fleet size) 35.3 million passengers (2011) 170 destinations

More information

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017 From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days

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

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

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

Now Everyone Can Fly. 2005 Fourth Quarter & Full Year Results 26 th August 2005

Now Everyone Can Fly. 2005 Fourth Quarter & Full Year Results 26 th August 2005 2005 Fourth Quarter & Full Year Results 26 th August 2005 Disclaimer Information contained in our presentation is intended solely for your personal reference and is strictly confidential. Such information

More information

2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO

2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO 2015 Annual Results 26 August 2015 Christopher Luxon CEO Rob McDonald CFO 1 The year in review Another year of earnings growth: Normalised earnings* before taxation $496 million, up 49.4% Statutory net

More information

TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W

TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W TIGER AIRWAYS HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Company Registration Number: 200701866W TIGER AIRWAYS ALMOST TRIPLES PROFIT BEFORE TAX TO $57.0 MILLION FOR THE FINANCIAL YEAR

More information

Air China Limited Announces 2014 Annual Results

Air China Limited Announces 2014 Annual Results Air China Limited Announces 2014 Annual Results Hong Kong March 26, 2015 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;

More information

REQUEST FOR PROPOSAL SCOOT PTE LTD ANCILLARY INSURANCE SERVICES

REQUEST FOR PROPOSAL SCOOT PTE LTD ANCILLARY INSURANCE SERVICES REQUEST FOR PROPOSAL SCOOT PTE LTD ANCILLARY INSURANCE SERVICES 1 INTRODUCTION 1.1 This document is to request formal technical and commercial proposals for the supply of ANCILLARY INSURANCE SERVICES (hereinafter

More information

Results presentation Six Months Ended 30 November 2006

Results presentation Six Months Ended 30 November 2006 Results presentation Six Months Ended 30 November 2006 Tim Howkins, CEO Steve Clutton, Finance Director Introduction Turnover up 44% Highlights Earnings per share up 43% All parts of business contributed

More information

2007 Interim Results. 09 May 2007

2007 Interim Results. 09 May 2007 2007 Interim Results 09 May 2007 1 Highlights Margin improved by 4.0pp as loss before tax reduced from 40m to 17m Total revenue grew by 14% to 719m Passenger revenues up 0.8% or 0.26 to 31.70 per seat

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

Tim Howkins, CEO. Steve Clutton, Finance Director

Tim Howkins, CEO. Steve Clutton, Finance Director Tim Howkins, CEO Steve Clutton, Finance Director Highlights Revenue Revenue up 36% Earnings per share up 33% All parts of business contributed to growth Benefits of increased IT spend Proposed final dividend

More information

UNAUDITED CONDENSED CONSOLIDATED INCOME STATEMENT

UNAUDITED CONDENSED CONSOLIDATED INCOME STATEMENT ANNOUNCEMENT The Board of Directors of AirAsia Berhad ( AirAsia or the Company ) is pleased to announce the following unaudited consolidated results of AirAsia and its subsidiaries (collectively known

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

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

Air Arabia. Investor Presentation FY 2015

Air Arabia. Investor Presentation FY 2015 Air Arabia Investor Presentation FY 2015 Disclaimer Information contained in this presentation is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information

More information

PUBLIC EXPOSE PT Garuda Indonesia (Persero) Tbk. 2015 Result Announcement. Jakarta, 15 April 2016

PUBLIC EXPOSE PT Garuda Indonesia (Persero) Tbk. 2015 Result Announcement. Jakarta, 15 April 2016 PUBLIC EXPOSE PT Garuda Indonesia (Persero) Tbk. 2015 Result Announcement Jakarta, 15 April 2016 1 HIGHLIGHTS EBITDAR MARGIN: 32.7% 19% YoY TOTAL REVENUES: US$3.81 billion 3.0% YoY UNSCHEDULED FLIGHT REVENUES

More information

COMPUTERSHARE LIMITED (ASX:CPU) FINANCIAL RESULTS FOR THE FULL YEAR ENDED 30 JUNE 2014. 13 August 2014

COMPUTERSHARE LIMITED (ASX:CPU) FINANCIAL RESULTS FOR THE FULL YEAR ENDED 30 JUNE 2014. 13 August 2014 COMPUTERSHARE LIMITED (ASX:CPU) FINANCIAL RESULTS FOR THE FULL YEAR ENDED 30 JUNE 2014 13 August 2014 NOTE: All figures (including comparatives) are presented in US Dollars (unless otherwise stated). The

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

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014 27 January 2015 easyjet Trading Statement Page 1 of 7 A. HIGHLIGHTS: EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2014 Drive demand, conversion and yields across Europe Seats flown grew

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

Eindhoven Airport Catchment MIDT Analysis and business cases

Eindhoven Airport Catchment MIDT Analysis and business cases May 28 Eindhoven Airport Eindhoven Airport Catchment MIDT Analysis and business cases 1 Introduction The following analysis is based upon MIDT data for bookings made within the immediate catchment area

More information

Servcorp Limited Analyst Presentation

Servcorp Limited Analyst Presentation Servcorp Limited Analyst Presentation Thursday 20 August 2009 Twelve months ended 30 June 2009 Servcorp Background World s s finest Serviced Offices and Virtual Offices Market leader Excellence in every

More information

THAI AIRWAYS INTERNATIONAL PLC. Bank of America Merrill Lynch & Phatra Securities PLC.

THAI AIRWAYS INTERNATIONAL PLC. Bank of America Merrill Lynch & Phatra Securities PLC. http://www.thaiairways.com/aboutthai/investorrelations/en/investor.html THAI AIRWAYS INTERNATIONAL PLC. Bank of America Merrill Lynch & Phatra Securities PLC. Thai Investor Forum, London October 1213,

More information

SAS Q3 2013/14. More passengers chose SAS in a challenging market Q3 EBT MSEK 756

SAS Q3 2013/14. More passengers chose SAS in a challenging market Q3 EBT MSEK 756 SAS Q3 2013/14 1 1 More passengers chose SAS in a challenging market Q3 EBT MSEK 756 Operating gplatform improving SK unit cost down 5.6% in Q3* New organization in place to speed up transformation Commercial

More information

Highlights of 1H FY2015 Results. November 18, 2015

Highlights of 1H FY2015 Results. November 18, 2015 Highlights of 1H FY2015 Results November 18, 2015 Table of Contents 1. Trend of business results 3. Domestic life insurance Summary of 1H FY2015 results 3 Overview of 1H FY2015 results Himawari Life 27

More information

Finnair Q2 result info

Finnair Q2 result info Finnair Q2 result info 15 August 2014 CEO Pekka Vauramo CFO Erno Hildén 1 Product upgrades: Customers spoke, we listened Signature meals and new buy onboard menu, Sky Bistro Lounge renewals New In-flight

More information

Ashley Institute of Training Schedule of VET Tuition Fees 2015

Ashley Institute of Training Schedule of VET Tuition Fees 2015 Ashley Institute of Training Schedule of VET Fees Year of Study Group ID:DECE15G1 Total Course Fees $ 12,000 29-Aug- 17-Oct- 50 14-Sep- 0.167 blended various $2,000 CHC02 Best practice 24-Oct- 12-Dec-

More information

Finnair Group Financial year January 1-December 31, 2001

Finnair Group Financial year January 1-December 31, 2001 Finnair Group Financial year January 1-December 31, 2001 State of the airline industry Business travel dropped dramatically Events of September 2001 From beauty contest to fight for survival Production

More information

Numbers, Business, Market Update Scott Barnett, US Divisional Chief Financial Officer

Numbers, Business, Market Update Scott Barnett, US Divisional Chief Financial Officer James Hardie US Investor/Analyst Tour 14-17 September 2008 Denver, Colorado Numbers, Business, Market Update Scott Barnett, US Divisional Chief Financial Officer In this Management Presentation, James

More information

LAN AIRLINES Corporate Update. May, 2011

LAN AIRLINES Corporate Update. May, 2011 LAN AIRLINES Corporate Update May, 2011 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results. These expectations

More information

Example of a diesel fuel hedge using recent historical prices

Example of a diesel fuel hedge using recent historical prices Example of a diesel fuel hedge using recent historical prices Firm A expects to consume 5,, litres of diesel fuel over the next 12 months. Fuel represents a large expense for the firm, and volatile prices

More information

CARGO E-CHARTBOOK Q3 2014 OVERVIEW

CARGO E-CHARTBOOK Q3 2014 OVERVIEW CARGO E-CHARTBOOK Q 4 OVERVIEW Air freight volumes continue to show solid gains on a year ago, supported by economic improvements in some regions, but high jet fuel prices and overall weakness in yields

More information

NATIONAL CREDIT UNION SHARE INSURANCE FUND

NATIONAL CREDIT UNION SHARE INSURANCE FUND NATIONAL CREDIT UNION SHARE INSURANCE FUND PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW Balance Sheet Other - Insurance and Guarantee Program

More information

INTERIM FINANCIAL REPORT 2015

INTERIM FINANCIAL REPORT 2015 INTERIM FINANCIAL REPORT 05 This year we are marking the 75th anniversary since the founding of Tasman Empire Airways Limited, as Air New Zealand was previously known. Christopher Luxon Chief Executive

More information

ANA reports consolidated financial results for the interim of FY 2008

ANA reports consolidated financial results for the interim of FY 2008 For the Six months ended September 30, 2008 Consolidated financial results All Nippon Airways Co., Ltd. (9202) ANA reports consolidated financial results for the interim of FY 2008 1. Consolidated financial

More information

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015

EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015 26 January 2016 easyjet Trading Statement Page 1 of 6 EASYJET TRADING STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2015 Continued robust commercial performance and strong management action on cost delivers

More information

Air Berlin PLC 20 March 2013 Analysts and Investors conference

Air Berlin PLC 20 March 2013 Analysts and Investors conference Air Berlin PLC 20 March 2013 Analysts and Investors conference 1. Overview o o o o o Management Summary Financial KPI Operational KPI Key financial development Development on Etihad relationship o Development

More information

Jetstar Group Jetstar in Asia. Jayne Hrdlicka, Jetstar CEO Seattle, 6 October 2013

Jetstar Group Jetstar in Asia. Jayne Hrdlicka, Jetstar CEO Seattle, 6 October 2013 Jetstar Group Jetstar in Asia Jayne Hrdlicka, Jetstar CEO Seattle, 6 October 2013 1 Jetstar Group Model Virtuous circle drives growth and innovation for strong, independent airlines OPPORTUNITIES FOR GROWTH

More information

Investor conferences Asia, United Kingdom and United States September and October 2015

Investor conferences Asia, United Kingdom and United States September and October 2015 MARKET ANNOUNCEMENT Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile

More information

Monetary Policy and Mortgage Interest rates

Monetary Policy and Mortgage Interest rates Monetary Policy and Mortgage Interest rates July 2014 Key Points: Monetary policy, which operates through changes in the official cash rate (OCR), is the main lever of macroeconomic management in Australia

More information

Financial Statement Consolidation

Financial Statement Consolidation Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the

More information

Qantas Airways Limited Fleet, Efficiency & Engineering. Gareth Evans, Chief Financial Officer Seattle, 6 October 2013

Qantas Airways Limited Fleet, Efficiency & Engineering. Gareth Evans, Chief Financial Officer Seattle, 6 October 2013 Qantas Airways Limited Fleet, Efficiency & Engineering Gareth Evans, Chief Financial Officer Seattle, 6 October 2013 Group Fleet Strategy Flexibility, Simplification, Efficiency 5 key principles Right

More information

Presentation on Results for the 2nd Quarter FY 2015. Idemitsu Kosan Co.,Ltd. November 4, 2015

Presentation on Results for the 2nd Quarter FY 2015. Idemitsu Kosan Co.,Ltd. November 4, 2015 Presentation on Results for the 2nd Quarter FY 2015 Idemitsu Kosan Co.,Ltd. November 4, 2015 Table of Contents 1. 2 nd Quarter FY 2015 Financials (1) Overview (2) Segment Information (3) Streamlining 2.

More information

Q1 2016 analyst and investor presentation. Tuesday 26 January 2016

Q1 2016 analyst and investor presentation. Tuesday 26 January 2016 Q1 2016 analyst and investor presentation Tuesday 26 January 2016 Q1 performance Overview 1. Resilient commercial performance Robust demand environment drives strong start to the quarter Impact of Sharm

More information

CENTERPOINT ENERGY TEXARKANA SERVICE AREA GAS SUPPLY RATE (GSR) JULY 2015. Small Commercial Service (SCS-1) GSR

CENTERPOINT ENERGY TEXARKANA SERVICE AREA GAS SUPPLY RATE (GSR) JULY 2015. Small Commercial Service (SCS-1) GSR JULY 2015 Area (RS-1) GSR GSR (LCS-1) Texarkana Incorporated July-15 $0.50690/Ccf $0.45450/Ccf $0.00000/Ccf $2.85090/MMBtu $17.52070/MMBtu Texarkana Unincorporated July-15 $0.56370/Ccf $0.26110/Ccf $1.66900/Ccf

More information

Presentation on Results for FY 2015. Idemitsu Kosan Co.,Ltd. May 10, 2016

Presentation on Results for FY 2015. Idemitsu Kosan Co.,Ltd. May 10, 2016 Presentation on Results for FY 2015 Idemitsu Kosan Co.,Ltd. May 10, 2016 Table of Contents 1. FY 2015 Financials (1) Overview (2) Segment Information 2. Forecast for FY 2016 Performance (1) Overview (2)

More information

2010 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MARCH 2011

2010 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MARCH 2011 2010 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MARCH 2011 Algeria - Brazil - Colombia - Dubai - Germany - India - Japan - Korea - Malaysia - Mexico - Romania - Singapore - Sweden - Switzerland -

More information

Disclaimer: Forward Looking Statements

Disclaimer: Forward Looking Statements Disclaimer: Forward Looking Statements This presentation/announcement may contain forward looking statements with projections regarding, among other things, the Company s strategy, revenues, earnings,

More information

Lower coffee exports lend support to Robusta prices

Lower coffee exports lend support to Robusta prices Lower coffee exports lend support to Robusta prices The coffee market rallied slightly in June, led in most part by a recovery in Robusta prices. For the sixth month in a row exports were lower than last

More information

J.P. Morgan Global High Yield & Leveraged Finance Conference. February 26, 2014

J.P. Morgan Global High Yield & Leveraged Finance Conference. February 26, 2014 J.P. Morgan Global High Yield & Leveraged Finance Conference February 26, 2014 Forward-Looking Statements Certain items in this presentation and other information we provide from time to time, may constitute

More information

Finnair Q1 result info

Finnair Q1 result info Finnair Q1 result info 7 May 2014 CEO Pekka Vauramo CFO Erno Hildén 1 Updated mission and strategic targets 2 Our Mission Offer the smoothest connections in the northern hemisphere via Helsinki, and the

More information

Goldman Sachs Conference. 22 May 2014 1

Goldman Sachs Conference. 22 May 2014 1 Goldman Sachs Conference 22 May 2014 1 Delivering growth in shareholder returns BoB Internet and phone in one. Launches Mobile services Launches Fetch TV services First ISP to offer NBN services BoB2 Launches

More information

Ryanair s Michael O Leary, said:

Ryanair s Michael O Leary, said: RYANAIR REPORTS Q3 LOSS OF 35M IN LINE WITH GUIDANCE, TRAFFIC GROWS 6% TO 18M - FARES & UNIT COSTS FALL 9%, FULL YEAR PROFIT GUIDANCE OF 510M UNCHANGED Ryanair, Europe s favourite low fares airline today

More information

Second Quarter 2015 Trading Update. 28 September 2015

Second Quarter 2015 Trading Update. 28 September 2015 Second Quarter 2015 Trading Update 28 September 2015 Disclaimer This communication and the information contained herein has been approved by the Board of Directors of Eurobank Ergasias S.A. ( Eurobank

More information

Japan Export Air. International Air Freight Fuel Surcharge. All Destinations

Japan Export Air. International Air Freight Fuel Surcharge. All Destinations Japan Export Air July 28, 2016 International Air Freight Fuel Surcharge Carrier 3K Jet Star Asia Airways 66 1-Jan-15 Taiwan, Philippines 48 1-Jan-15 5C C.A.L. Cargo 130 1-Oct-12 China, Hong Kong, Korea,

More information

Air Berlin PLC 29 May 2013 Commerzbank Roadshow Hamburg

Air Berlin PLC 29 May 2013 Commerzbank Roadshow Hamburg Air Berlin PLC 29 May 2013 Commerzbank Roadshow Hamburg airberlin a strong European carrier Market position as of 31 December 2012 No. 2 in core market: Germany / Austria / Switzerland < No. 7 in Europe

More information

Air Berlin PLC l 11 June 2014 l db Access German Austrian Swiss Conference

Air Berlin PLC l 11 June 2014 l db Access German Austrian Swiss Conference Air Berlin PLC l 11 June 2014 l db Access German Austrian Swiss Conference Executive summary (1) Key highlights 2013 2013: a challenging year for airberlin Operational loss of 231.9 million euros Group

More information

Third Quarter 2014 Earnings Conference Call. 13 August 2014

Third Quarter 2014 Earnings Conference Call. 13 August 2014 Third Quarter 2014 Earnings Conference Call 13 August 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

Marina Bay Sands. George Tanasijevich President and CEO of Marina Bay Sands

Marina Bay Sands. George Tanasijevich President and CEO of Marina Bay Sands Marina Bay Sands George Tanasijevich President and CEO of Marina Bay Sands MBS Starts Strong and Continues to Ramp Marina Bay Sands Starts Strong and Continues to Ramp Adjusted Property EBITDA and Adjusted

More information

Robeco High Yield Bonds

Robeco High Yield Bonds Important Information 1. Robeco High Yield Bonds (the Fund aims to provide long term capital growth. The Fund invests at least two thirds of its total assets in bonds, asset backed securities and similar

More information

Westpac Banking Corporation

Westpac Banking Corporation Westpac Banking Corporation Philip Coffey Chief Financial Officer 31 March 2006 Westpac at a glance Established 1817 Top 40 bank globally 1 Core markets - Australia, New Zealand and near Pacific Total

More information

Quest for Growth Results for Q3, January-March 2003

Quest for Growth Results for Q3, January-March 2003 Quest for Growth Results for Q3, January-March 2003 1 Jan Keuppens joins Quest Management Investment Manager Quoted Portfolio of Quest for Growth Former technology analyst with AXA Investment Managers,

More information

EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE

EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE /MXN /Mexico 14.597/12.548 168.8 14.5500 14.2500 13.9500 13.7000 13.4000 13.1000 12.7767 JAN 9 FEB 28 APR 21 JUN 11 JUL 30 SEP 18 NOV 7 12.5500 The /MXN is

More information

Financial Outlook: Prepared for all demand scenarios Investor Day 2011

Financial Outlook: Prepared for all demand scenarios Investor Day 2011 Financial Outlook: Prepared for all demand scenarios Investor Day 2011 Stephan Gemkow Member of the Executive Board and CFO Zurich, September 21 st, 2011 0 Growth expectations have been revised downwards

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

AIRLINE ECONOMIC ANALYSIS

AIRLINE ECONOMIC ANALYSIS AIRLINE ECONOMIC ANALYSIS FOR THE RAYMOND JAMES GLOBAL AIRLINE CONFERENCE NOVEMBER 2013 AUTHORS Bob Hazel Peter Otradovec Tom Stalnaker Aaron Taylor TABLE OF CONTENTS SUMMARY 5 US CARRIERS INCLUDED AND

More information

FINANCIAL RESULTS Q1 2016

FINANCIAL RESULTS Q1 2016 FINANCIAL RESULTS Q1 2016 CFO Hallvard Granheim 28 th April 2016 Highlights Q1 Increase in underlying results (EBITDA) - Nordic prices are down 15% Q-on-Q - High production from Nordic hydropower assets

More information

Deutsche Bank. Andean Region Conference. London, May, 2016

Deutsche Bank. Andean Region Conference. London, May, 2016 Deutsche Bank Andean Region Conference London, May, 2016 This presentation may include forward-looking comments regarding the Company s business outlook and anticipated financial and operating results.

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

Cover. 2Q 2014 Results Presentation. 5 August 2014

Cover. 2Q 2014 Results Presentation. 5 August 2014 Cover 2Q 2014 Results Presentation 5 August 2014 Agenda Page Results Highlights 3 Portfolio Performance 10 Capital Management 20 Asset Enhancement Initiatives 22 Market & Portfolio Outlook 27 Results Highlights

More information

3. Forecast of Consolidated Results for Fiscal Year ending March 31, 2013

3. Forecast of Consolidated Results for Fiscal Year ending March 31, 2013 October 31, 2012 Financial Highlights: The Second Quarter Ended September 30, 2012 1. Consolidated Financial Highlights ( from April 1, 2012 to September 30, 2012 ) (All financial information has been

More information

Agenda. Conclusion of Transform 2015. Key Perform 2020 initiatives. Perform 2020 financial framework. Information meeting

Agenda. Conclusion of Transform 2015. Key Perform 2020 initiatives. Perform 2020 financial framework. Information meeting Information meeting Agenda Conclusion of Transform 2015 Key Perform 2020 initiatives Perform 2020 financial framework 2 Transform 2015: first phase of group turnaround accomplished Strict capacity discipline

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

$2.3-2.8bn. $1.2bn total spend. 343,600 arrivals. 6.4m total nights. 1.6m dispersed nights 1. Singapore Market Profile

$2.3-2.8bn. $1.2bn total spend. 343,600 arrivals. 6.4m total nights. 1.6m dispersed nights 1. Singapore Market Profile Market Profile In 2012, Singapore was Australia s sixth largest inbound market for visitor arrivals, the seventh largest market for total expenditure and 11th for visitor nights. It was also 13th for total

More information

SAS REVIVING A BRAND AND GROWING MARKET SHARE

SAS REVIVING A BRAND AND GROWING MARKET SHARE SAS REVIVING A BRAND AND GROWING MARKET SHARE Göran Jansson, Deputy President & CFO Agenda Transforming and turning a legacy carrier around SAS to increase capacity to/from US and Asia in 2016 Maintaining

More information

Opportunity Day. March 13,2015

Opportunity Day. March 13,2015 Opportunity Day March 13,2015 Disclaimer Information contained in our presentation is intended solely for your reference. Such information is subject to change without notice, its accuracy is not guaranteed

More information

AEROMEXICO: MEXICO S PREMIUM REVENUE CARRIER

AEROMEXICO: MEXICO S PREMIUM REVENUE CARRIER July, 2014 1 1 AEROMEXICO: MEXICO S PREMIUM REVENUE CARRIER Leading airline in Mexico Only Full Service Carrier / Two-class Service and Hub and Spoke Model Strongest position in slot constrained Mexico

More information

Disclosure of 1Q15 Results

Disclosure of 1Q15 Results Disclosure of 1Q15 Results Investor Relations Presentation: José Rubens de la Rosa CEO José Antonio Valiati CFO & Investor Relations Officer Thiago Deiro Finance & Investor Relations Manager Caxias do

More information

7. Foreign Investments in India

7. Foreign Investments in India 93 Foreign Investments in India ISMR 7. Foreign Investments in India Introduction From 1992, Foreign Institutional Investors (FIIs) have been allowed to invest in all securities traded on the primary and

More information

Update on HKEx Equity Derivatives Market. Derivatives Trading Global Markets Division 24 April 2015

Update on HKEx Equity Derivatives Market. Derivatives Trading Global Markets Division 24 April 2015 Update on HKEx Equity Derivatives Market Derivatives Trading Global Markets Division 24 April 215 Exchange Participants Global Distribution Distribution of the Origins of HKFE Exchange Participants America

More information