PRESENTATION FOR SHAREHOLDERS Q1 2015
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1 PRESENTATION FOR SHAREHOLDERS Q 5 MAY 5
2 AVIAAM LEASING AT A GLANCE MORE THAN JUST A LEASING COMPANY EXPERIENCE AND EXPERTISE FINANCIAL PERFORMANCE OVERVIEW REVENUE OVERVIEW EBITDA DEBT FLEET OVERVIEW AIRCRAFT FLEET TRANSACTION AND VALUE PERSPECTIVE P&L SUMMARY CASH FLOW AND BALANCE SHEET SUMMARY WHY AIRLINES CHOOSE LEASING COMPANIES TO FINANCE AIRCRAFT?
3 AVIAAM LEASING AT A GLANCE A Warsaw Stock Exchange listed global aviation holding company engaged in commercial aircraft acquisition, leasing and sales Specializes in mainline narrow-body aircraft as well as high-potential regional jets Actively operating in global aviation market Global presence, choice of aircraft register Member of ISTAT Strong balance sheet High yield on aircraft portfolio Good prospects for growth and strengthening position in the market
4 MORE THAN JUST A LEASING COMPANY AviaAM Leasing is an integrated aviation company delivering a full range of aircraft leasing, trading and management services. We provide a complete set of customized services and products to address most distinctive and unique needs of our clients AIRCRAFT LEASING AIRCRAFT TRADING CONSULTING SERVICES ASSET MANAGEMENT ENGINE LEASING Net operating (dry) or financial leases Short-term: up to yrs Long-term: yrs and above Aircraft purchases, customization and sales Aircraft remarketing for lease or sale Identification of acquisition and lease prospects Market analysis Fleet structuring Aircraft registration services Aircraft repossessions Maintenance analysis Technical management Contract management Financial engineering Asset value protection Operating Engine leasing Engine sale & lease back Guaranteed spare engine availability Engine exchanges
5 EXPERIENCE AND EXPERTISE AviaAM Leasing team is composed of highly qualified and experienced aviation and business experts dedicated to highest quality of service and complete fulfillment of our clients and partners needs TADAS GOBERIS CEO, AviaAM Leasing Chairman of the Board, AviaAM Leasing 5 years of experience as an executive with sales background JUSTINAS GILYS COO, AviaAM Leasing Board Member, AviaAM Leasing years of experience in finance PAULIUS DOCKA Chief Legal Officer, Avia Solutions Group Board Member, AviaAM Leasing 5 years of experience of legal practice ROMUALDAS LEGETAVICUS Technical Director at AviaAM Leasing 6 years of experience with technical background Tadas Goberis has obtained an exceptional level of experience in the sales and organization management in the IT industry achieving many rewards and recognitions for delivering outstanding results Expert in deal structuring and management of lease agreements Expert in contract management and deal structuring Awarded by a UK based Chambers and Partners as a recommended lawyer Romualdas Legetavicius completed a wide range of aviation training courses including but not limited to PART-45 training, Safety Oversight (at ICAO), PART-M, SAFA Ramp Check, JAR Repairs and Modifications, Maintenance and Airworthiness etc
6 FINANCIAL PERFORMANCE OVERVIEW Revenues (USDm) Net Assets and Share Capital ratio (USDm) Q 4 Q December 4 March 5 Net assets Net assets / Share Capital ratio Net Profit (USDm) Cash And Cash Equivalents (USDm) Q 4 Q 5 December 4 March 5
7 REVENUE OVERVIEW Revenue split comparison with prior year (USDm) %. -7% %.. Q 4 Q 5 Commission income Supplemental maintenance rent Lease revenue Revenue Q 4 vs. Q 5 (USDm) Revenue Q 4 Lease revenue Supplemental maintenance rent.6 Commission income Revenue Q 5
8 EBITDA EBITDA Q 4 vs. Q 5 (USDm) EBITDA Q 4 Revenue from aircraft leases Net commission income* Other income** Employee-related expenses Other expenses*** Aircraft maintenance expenses EBITDA Q 5 * Calculated as commission income less cost of services ** Calculated as a sum of interest income on loans and other gain (losses) net ***Calculated as a sum of other operating expenses and impairment of receivables and prepayments
9 DEBT DEBT MATURING IN LESS THAN YEAR (USDM) March 5 December % of total debt % % DEBT MATURING BETWEEN AND 5 YEAR (USDM)..8 % of total debt 78% 8% Total debt.9.6 Cash Net debt (4.6) (.) Ratios Debt/assets.. Net debt/equity (.6) (.5) Weighted average interest rate 7.7% 7.67%
10 FLEET OVERVIEW CURRENT FLEET x Boeing 77- x Boeing x CRJLR x CRJLR Business Jets Inc. business jet owned by a joint venture FLEET DISTRIBUTION COMMENTS Domicile country of the lessee Russia Country of aircraft registration Aircraft type * The business jets are operated by KlasJet (subsidiary of Avia Solutions Group) Number of aircraft on lease Bermuda CRJ 8 Russia B77-5 Kazakhstan Lithuania B77-5 Belarus Belarus B77- Lithuania Lithuania CRJ Business Jets * Total 4 All aircraft are leased out under long term operating lease agreements All leases are secured by security deposits paid by lessees at the inception of leases The vast majority of the aircraft ( out of 4) are registered in renowned aircraft registration jurisdictions Bermuda and Lithuania Successful risk and relationship management no overdue receivables from any of the lease customers Strict operating monitoring procedures of the financial position of the lessees and aircraft maintenance status
11 AIRCRAFT FLEET Aircraft transactions summary March 4 March 5 March 4 June 4 September 4 December 4 March 5 Bombardier CRJ Boeing * Boeing 77- -* Boeing Boeing ** -** + - Boeing Ʃ 8 Ʃ Ʃ Ʃ Ʃ Net Book Value of Aircraft and Aircraft under preparation for use (USDm) Opening January 5 Depreciation charge Closing March 5 * These aircraft were owned by AviaAM B UAB - the previous subsidiary of AviaAM Leasing AB which was sold on April 4 ** The acquisition and sale of one Boeing 77-8 aircraft was structured as a brokerage transaction
12 P&L SUMMARY P&L (USD ') Q 5 Q 4 Revenue from aircraft leases 4,68 6,556 Net commission income*,8 86 Other income** Aircraft maintenance expenses (786) (,467) Depreciation and amortization (95) (,95) Employee-related expenses (65) () Other expenses*** (46) (57) Operating profit 4,5,58 EBITDA 5,66 4,7 Profit (loss) before income tax,4,68 Profit (loss) for the period,65,99 *Calculated as commission income less costs of services rendered **Calculated as sum of interest income on loans and other gain (losses) net ***Calculated as sum of other operating expenses, impairment of receivables and prepayments, and revaluation of aircraft
13 CASH FLOW & BALANCE SHEET SUMMARY Cash flow (USD ') I-III 5 I-III 4 Net cash generated from operating activities, (,5) Net cash generated from (used in) investing activities (64) (7,48) Net cash generated from (used in) financing activities (674) (749) Cash at the beginning of the period 6,574 4,95 Increase (decrease) in cash and cash equivalents 894 (,75) Cash at the end of the period 7,468, Balance sheet (USD ') March 5 December 4 Total assets, of which:,5 8,69 Non-current assets 5,6 5,766 Current assets 7,4 67,94 Equity 95,9 9,54 Non-current liabilities, of which: 4,656 5,467 Borrowings,56,78 Security deposits received,94, Deferred income tax liabilities,6,5 Current liabilities, of which:,75,69 Borrowings,8,768 Trade and other payables,445,488 Security deposits received 4 4 Advances received 5 7 Current income tax liabilities 4,58 4,8 Total equity and liabilities,5 8,69
14 WHY AIRLINES CHOOSE LEASING COMPANIES TO FINANCE AIRCRAFT? OVER HALF OF WORLD AIRLINE FLEET NOW LEASED Operating leases: 97 to,5% 7 leased,7% leased Greater financial flexibility Greater fleet flexibility Access to attractive delivery slots Availability of capital Avoid pre-delivery payments Zero residual value risk Growth in Low Cost Carriers (LCC's) 97 7 Aircraft Aircraft 4,7% 4 leased 4,7% 75 leased 4,7% 844 leased Over 5% leased Aircraft 5 Aircraft 4 76 Aircraft forecast
15 CONTACT US Avia AM Leasing AB Smolensko st., LT- Vilnius Lithuania E. T
PRESENTATION FOR SHAREHOLDERS Q4 2014
PRESENTATION FOR SHAREHOLDERS Q4 214 APRIL 215 1 2 3 4 5 6 7 8 9 1 11 12 13 14 AVIAAM LEASING AT A GLANCE MORE THAN JUST A LEASING COMPANY EXPERIENCE AND EXPERTISE FINANCIAL PERFORMANCE OVERVIEW REVENUE
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