9M16 Results. November 7, 2016

Transcription

1 9M16 Results November 7, 2016

2 Solid Third Quarter Lower industry capacity, stronger currency, fuel savings Traffic growth of 10% vs. 2Q16, Load factor of 80% Avg fare increase of 15.8% YoY and 6.1% vs 2Q16 Unit costs down by 6.4% Fleet reduction of 4 acft Ancillary revenues of R$302 million Profits of R$66 million Olympic Games: 7,200 athletes and 49 delegations transported 2

3 Brazil s Favorite Airline Brazil s Best Fare - Lowest Cost Carrier Nº1, Traffic 9M15 25 million pax Nº1 at Main Airports - 52 bases in Brazil Nº1, Service - Low Fares/On-time/Smiles Fwd Bookings and Load Factors increasing Order for 120 MAX new aircraft 15 years of GOL low fares in Brazil 3

4 Brazil s Nº1Customer Experience Premium Lounge at Guarulhos Airport -Leather seats -Gourmet menu -Made-to-order bar drinks -Free Wi-Fi -Free showers On-board Internet First in South America GOL online CONNECTIVITY, CONTENT AND FUN ON BOARD -Entertainment -Streaming media -Live TV -Movies -Cartoons -Sitcoms -Flight maps On-Time Performance More Codeshares -Copa -Aeroméxico -Emirates More Mileage Benefits - Expansion of miles accum. to promotional fares 4

5 Brazil s Lowest Costs CASK ex-fuel and CASK in cents of R$ OALA LAB ALAB % > GOL +16% +23% +29% (1) Source: 2015 Company reports - ANAC. (2) Stage-length adjusted. 5

6 Brazil s Nº1Network 63 bases 52 airports served in Brazil 9 countries 140+ routes 34 million customers per year 33 B737-7 NG s 102 B737-8 NG s 120 B737-8 MAX s on order Colocar mapa maior sem oceanos 6

7 Brazil s Nº1 Market Share (*) State GDP%¹ #1 #2 Share São Paulo CGH GRU VCP PPB 32.1% 35% Rio de Janeiro GIG SDU 11.8% 46% Minas Gerais CNF JDF MOC UDI 9.2% 27% Paraná CWB IGU LDB MGF 6.3% 37% Rio Grande do Sul POA CXJ 6.2% 37% Santa Catarina FLN JOI NVT XAP 4.0% 36% Bahia SSA BPS IOS 3.8% 30% Distrito Federal BSB 3.3% 32% (*) At main airports, in number of seats as of Sep, 2016 ¹ IBGE 2013 Brazilian GDP by state 7

8 Nº1 in non-passenger revenues Smiles: R$398.3 million, +14.1% Cargo: R$77.2 million Other: R$224.8 million GOL+Comfort: 100% of fleet Buy-on Board: 3.3 mm products sold 8

9 3Q16 Profits reached R$66 million (R$ million) 3Q16 3Q15 % Var. 9M16 9M15 % Var. Net Revenue 2, , % 7, , % EBIT ,524% (88.4) n.m. EBIT Margin 9.7% 0.4% 9.3 pp 6.9% -1.2% 8.1 pp Net Income (loss) 65.9 (2,133) n.m. 1,132 (3,161) n.m. Net Margin 2.7% -85.7% 88.4 pp 15.7% -44.4% 60.1 pp (1) EPS (R$) 0.19 (6.14) n.m (9.10) n.m. (1) Before minority interest 9

10 3Q16 RASK +3.3% & CASK -6.4% 3Q16 3Q15 % Var. 9M16 9M15 % Var. ASKs (in billion of KM) % % Seats (in million) % % RPKs (in billion of KM) % % Load Factor 79.8% 78.6% 1.2 pp 77.5% 77.8% -0.3 pp Traffic (in million) % % Avg. Fare (R$) % % Net YIELD (R$ cents) % % Net PRASK (R$ cents) % % Net RASK (R$ cents) % % CASK (R$ cents) % % CASK ex-fuel (R$ cents) % % Operating Profit per ASK (R$ cents) n.m n.m. 10

11 9M16 Balance Sheet In R$ million Sep/16 Sep/15 Assets (incl. aircraft) 6,487 7,570 Cash and Accounts Receivable 1,829 3,554 Total 8,316 11,124 Liabilities 5,206 4,823 Debt 6,347 9,489 Shareholder s Equity (3,237) (3,188) Total 8,316 11,124 R$3.1 billion debt reduction Values in R$ million 1, Financial Debt 3Q16 22% Cash Free Cash Smiles Cash Restricted Cash Q Q17 Debt in Reais (R$) Debt in USD (R$) Q Q Q % 2023 BRL USD 477 After 2023 Accounts Receivable * Exchange rate of for amounts in US$. 11

12 Current Developments Forward Booking and Load Factor rising 2016 traffic at 33 million 4Q yields to increase Industry cutting capacity to same level as additional routes in 4Q Fuel 4Q16: 27% hedged at US$49.25 WTI 12

13 LF & Forward Bookings Chg. (pp) Jan 78% 83% +5 Feb 77% 76% -1 Mar 74% 74% 0 Apr 76% 79% +3 May 75% 76% +1 Jun 75% 76% +1 Jul 79% 83% +4 Aug 77% 76% -1 Sep 76% 76% 0 Oct 79% 76% -3 Nov 79% 73% -6 Dec 79% 77% Chg. (pp) Jan 83% 82% -1 Feb 76% 76% 0 Mar 74% 73% -1 Apr 79% 76% -3 May 76% 75% -1 Jun 76% 75% -1 Jul 83% 83% 0 Aug 76% 78% +2 Sep 76% 78% +2 Oct 0 Nov +3 Dec Chg. (pp) Jan +2 Feb +3 Mar +4 13

14 Domestic Market Capacity (ASK in billion) % E LAB OALA ALAB Industry Aircraft 0 +8 A320s +8 A320s +16 A320s ASKs to 15% +10 to 15% +3 to 5% +7.9% OALA LAB (seats) -4.4%.-7.5% ALAB LAB ALAB OALA Others % UDM Jan/16 Mar/16 May/16 Jul/16 Sep/16 14

15 FY 2016 Outlook Load Factor up 1 p.p. to 78% Traffic of 33 million passengers Unit cost down in 4Q16 Average fares increasing in 4Q16 Jet fuel in Reais at same level as 3Q16 Margin at upper end of guidance 15

16 FY 2016 Outlook Statistic Historical Results Previous Guidance Full-year M16 From To Revised Guidance Full-year /- Total supply variation (ASK) -7.2% -5% -8% 8% Total seats -16.2% -15% -18% 17% Total volume of departures -16.6% -15% -18% 17% Operating Margin (EBIT) 6.9% 4% 6% 6% 16

17 B737 Fleet Plan MAX

18 GOL Linhas Aéreas Inteligentes S.A. Investor Relations

19 Disclaimer This presentation may contain certain statements that express GOL Linhas Aéreas Inteligentes S.A. ( GOL ) management s expectations, beliefs and assumptions about future events or results. Such statements are not historical fact, being based on currently available competitive, financial and economic data, and on current projections about the industries in which GOL operates. The verbs anticipate, believe, estimate, expect, forecast, plan, predict, project, target and other similar verbs are intended to identify these forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from those projected in this presentation and do not guarantee any future GOL performance. The factors that might affect performance include, but are not limited to: (i) market acceptance of GOL services; (ii) volatility related to (a) the Brazilian economy and financial and securities markets and (b) the highly competitive industries GOL operates in; (iii) changes in (a) domestic and foreign legislation and taxation and (b) government policies related to the transportation markets; (iv) increasing competition from new entrants to the Brazilian markets; (v) ability to keep up with rapid changes in technological environment; (vi) ability to maintain an ongoing process for introducing competitive new products and services, while maintaining the competitiveness of existing ones; (vii) ability to attract customers in domestic and foreign jurisdictions. Other factors that could materially affect results can be found in GOL s annual report on Form 20-F for the year ended December 31, 2015 as filed with the U.S. Securities and Exchange Commission on April 28, 2016, including under Item 3. Key Information D. Risk Factors. All forward-looking statements in this presentation are based on information and data available as of the date they were made, and GOL undertakes no obligation to update them in light of new information or future development. 19