Half Year Results 30 th September 2012

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1 Half Year Results 30 th September 2012 Full Year Results

2 Aer Lingus On 19 th June 2012, Ryanair launched an all cash offer for Aer Lingus Group Plc. Since this offer is subject to Irish Takeover Rules and an EU Commission competition review, Ryanair will not address any questions about this offer. 2

3 Europe s Ultra Low Cost Carrier Europe s only Ultra Low Cost Carrier Lowest Fares/Lowest Seat Costs in Europe No fuel surcharges.guaranteed! No 1 For: Traffic 79m Coverage 1,500 Routes from 51 Bases C mer Service Most on time flights Fewest lost bags Fewest cancelations 28 th Year of Strong Growth Unblemished 28 Year Safety Record 3

4 No.1 Lowest Fares Avg. Fare % > Ryanair Low Ryanair 53 High easyjet % Air Berlin % Aer Lingus % Lufthansa % AF-KLM % IAG % Source: RYA to 30 Sept 2012 & Latest Published Company Information 4

5 No 1 Customer Service % On Time Lost Bags / 1,000 Pax % Completions Ryanair Lufthansa British Airways Air France Iberia easyjet RTP RTP RTP Source: RYA to 30 Sept 2012 & Latest published Company Year End/Quarter End Information 5

6 No.1 Traffic Growth 75 PAX M s FY 6

7 No.1 Coverage 51 bases 170 airports 28 countries 1,500+ routes 1,500+ daily dep s 298 Boeing s Newest fleet (4yrs) 79m pax p.a. 7

8 No.1 Low Costs Per Pax. (Ex Fuel) RYA_ EZY AB1 SAVE LUV Staff 5_ Apt s & Hand 7_ Route Charges 6_ A/C O ship & Maint. 6_ S&M 2_ Total 26 26_ % v Ryanair -_ +100% +273% +142% +185% Source: RYA to 30 Sept 2012 & Latest Published Company Year End/Quarter End Information 8

9 No.1 Margin & Returns RYA EZY LUV Net Margin 13% 7% 1% Cash Earnings* 19% 10% 6% Free Cash Flow 610m 288m $382m Net Cash/(Debt)** 250m 42m ($607m) Divs + B backs*** 1,527m 215m $1,694m * (Net Profit + Depreciation)/Total Sales. ** RYA incl. 65m pre-funding for a/c del. In Dec *** Since 2007/08 Source: Published Year End/Quarter End Information, Reuters & Bloomberg 9

10 No.1 Shareholder Returns Equity Raised (m) Returned (m) FY FY 08 - b back 300 FY FY 09 - b back 46 FY FY 11 - div FY FY 12 - b back 125 FY FY 13 - b back 67 FY 13 - div * Raised 585 Returned 1,527 Total Returns to FY13 > 1.5 billion (almost 3 x equity raised) * 0.34 div. per share will be paid in Nov. 10

11 Growth Potential to 120m Pax EU Market Pax (m) Pax (%) Ryanair 79 12%1 Other "Low Cost Carriers" % Flag Carriers % Charter Carriers 82 12% Low Margins Or Loss Makers Other Carriers 39 6% Total EU Short Haul % US Comp. - Southwest % 1 Source: Company Research & Published Accounts, 11

12 EU Short Haul Growth Potential Country SH Flights Per Cap (P.A.) Pop. (m) Ireland Spain UK Netherlands Sweden Belgium Germany France Italy Poland Source: Eurostat 12

13 H1 Financial Highlights Sept 11 Sept 12 Change Pax. 45m 48m + 7% Load Factor 85% 84% - 1% Av. Fare (incl. bag) % Rev. Per Pax % Revenues (m) 2,712m 3,106m + 15% Profit after Tax (m) 544m 596m + 10% 13

14 Strong Balance Sheet Sept 11 Sept 12 Aircraft (incl. Dep.) 5,297m 5,442m Cash 3,125m 3,933m Total 8,422m 9,375m Net Debt 372m Net Cash 250m* Liabilities 1,748m 1,942m Debt 3,497m 3,683m Shareholders Funds 3,177m 3,750m Total 8,422m 9,375m * Inc. 65m pre-funding for a/c del. in Dec

15 Highlights H1 profit of 596m. 52m (10%) on prev. year Rev 394m (15%) Ancil. 97m (20%) Pax 7% to 48m Guidance to 490m - 520m Gross Cash to 3.9bn record high Fleet Size to 298 Boeing s Spec. Div 0.34 per share ( 489m) Nov 30 AL cash offer Phase 2 review underway 15

16 Outlook for FY 13 FY13 Guidance to 490m - 520m Traffic 4% to 79m (H2 flat) FY Fuel Cost 260m Unit Costs (Ex Fuel) 2% (Ital. ATC & Span. apt. chg. s) Avg. Fare, FY 4% Competitors Restructure (IAG / LUFT / AF / SAS / A. Berlin) Net Cash at Y/E post 489m Spec. Div. 16

17 Girls of Ryanair 2013 Charity Calendar Over 450 volunteers 15 cabin crew selected Shot in Paphos 10,000 copies Onboard & online sales 100,000 sales target 600,000 raised since 2008 Charity Partner TVN - Poland 17

18 Ryanair Summary Europe s only ultra lowest cost/lowest fare airline World s No.1 intl. schd. airline grow by 4% to 79m Strong Growth as comps consol, close, make losses FY13 Guidance to 490m - 520m Return cash to shareholders as CAPEX falls 7 aircraft deliveries in Dec New Airports and bases ready for 120m pax growth LOWEST COST ALWAYS WINS 18

19 Appendices Appendices 19

20 2013Network : 51 Bases 20

21 Fuel Hedging FY13-90% at $1,000pmt (approx m) Cost/Tonne FY 12 FY 13 % Mov. Q1 $820 (Act) $998 (Act) +22% Q2 $830 (Act) $985 (Act) +19% Q3 $840 (Act) $1,025 (90%) +22% Q4 $990 (Act) $1,005 (90%) +2% Hedged at /$ exchange rate of $1.38 FY14 H1-85% Cost/Tonne FY 13 FY 14 % Mov. Q1 $998 (Act) $970 (90%) -3% Q2 $985 (Act) $960 (80%) -3% Q3 $1,025 (90%) - - Q4 $1,005 (90%) - - Q1 hedged at /$ exchange rate of $

22 Safety Unblemished 28 year safety record Fully comply with all EASA, FAA & Boeing reg s IAA rpt. on 3 Valencia wx. div s (26 Jul) confirms: 3 planes carried excess fuel Div. with > final div. fuel Declared fuel emerg. proc. in accord. with EU reg s 3 fuel emerg. in 18 mnts out of 1m flights (28 in UK in 2 yrs) Confirms RYA EU Ops Compliance & Safety Joint (Ire. & Span.) Govt. Stat. (18 Sept) RYA On a Par With Safest EU Airlines Reports of 1,201 incidents in H1 confirmed untrue 22

23 STN Airport Sale Doubling charges caused 25% traffic fall RYA excluded from sale by Ferrovial UKCC/CAA fail to promote customer focused sale RAB of 1.3bn inflated by approx. 700m STN will grow at much reduced apt. costs STN will decline if costs don t fall 23

24 Italian Social Tax Claims False RYA pilots & crew operate on Irish reg. A/C Irish reg. A/C defined by EU reg s as Irish territory Crew pay soc. taxes in Ireland under EU reg s June 12 New EU Rules: New empl s soc. tax in country they start & end working day Existing empl s grandfathered cont. to pay Irish soc. tax Courts reject similar claims in Bel, Ger & Spain 24

25 Aer Lingus EU Consol Continues BA/BMI, Aeg./Olymp. + TAP sale RYA offers unprecedented remedies package Multiple upfront buyers to open bases in Ireland Multiple upfront buyers for all crossover routes Remedies address EU competition concerns Should secure EU approval (If fairly assessed) 25

26 Disclaimer Certain of the information included in this presentation is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon future circumstances that may or may not occur. It is not reasonably possible to itemise all of the many factors and specific events that could affect the outlook and results of an airline operating in the European economy. Among the factors that are subject to change and could significantly impact Ryanair s expected results are the airline pricing environment, fuel costs, competition from new and existing carriers, market prices for the replacement aircraft, costs associated with environmental, safety and security measures, actions of the Irish, U.K., European Union ( EU ) and other governments and their respective regulatory agencies, fluctuations in currency exchange rates and interest rates, airport access and charges, labour relations, the economic environment of the airline industry, the general economic environment in Ireland, the UK and Continental Europe, the general willingness of passengers to travel and other economics, social and political factors and flight interruptions caused by volcanic ash emissions or other atmospheric disruptions. The directors of Ryanair and Coinside accept responsibility for the information contained in this presentation, save that the only responsibility accepted by the directors of Ryanair and Coinside in respect of the information in this presentation relating to Aer Lingus, the Aer Lingus Group, the directors of Aer Lingus and persons connected with them, which has been compiled from public sources, has been to ensure that such information has been correctly and fairly reproduced or presented (and no steps have been taken by the directors of Ryanair or Coinside to verify this information). To the best of the knowledge and belief of the directors of Ryanair and Coinside (who have taken all reasonable care to ensure that such is the case), the information contained in this presentation for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Persons interested in 1% or more of any relevant securities in Ryanair or Aer Lingus may have disclosure obligations under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules 2007 (as amended). 26

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