AirAsia Group Berhad Corporate Presentation - - PowerPoint PPT Presentation

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airasia group berhad corporate presentation august 2019
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AirAsia Group Berhad Corporate Presentation - - PowerPoint PPT Presentation

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AirAsia Group Berhad Corporate Presentation August 2019 Strictly private and confidential 1 LEGAL DISCLAIMER Information contained in our presentation is

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Strictly private and confidential 1

AirAsia Group Berhad Corporate Presentation August 2019

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LEGAL DISCLAIMER

Information contained in our presentation is intended solely for your personal reference and is strictly confidential. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the Company. Neither we nor our advisors make any representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. In addition, the information contains projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial

  • performance. These views are based on current assumptions which are subject to

various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. Actual results may difger materially from those projected. This presentation is strictly not to be distributed without the explicit consent of Company’s management under any circumstances.

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Agenda

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Achieving the unthinkable Strengthening our underlying airline business Digitalising the airline AirAsia 3.0 Leveraging our data to create platforms

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2 airlines 6 airlines

*Fleet size and data as at July 2019

271 aircrafts, in 8 airlines 155 destinations

across 22 Countries

100 million passengers flown annually

>500 million total passengers flown

24 hubs

Over 10,000 flights per week Over 393 routes, including

115 unique routes

The largest LCC in Asia The fourth largest airline in Asia

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2.9%

annual conversion rate Over 560 million annual unique (web&app) visitors

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Wide digital reach via AirAsia.com, mobile app and social media

Over 15 million contactable members Over 40 million mobile app download Hits from over

240

different countries

Over

12,000,000 fans

Over

8,000,000 followers

Over

26,700,000 followers

Over

1,700,000 followers

Over

1,300,000 followers

Over

2,000,000 followers

60%

Sales via web and app Over 51 million total fans and followers

*Data as at June 2019

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Ancillary revenue growth from data & digital initiatives

2008 2018

21% of revenue 9% of revenue

RM0.23bn RM2.06bn

9x

✔ Baggage ✔ Inflight F&B ✔ Pick-a-seat ✔ Baggage (dynamic pricing) ✔ Inflight F&B ✔ Pick-a-seat (+ hot seats) ✔ Wifi ✔ Insurance ✔ Ourshop ✔ Fly-Thru ✔ Cargo

1Q19

23% of revenue (up 29% YoY)

78% 22% Non-airline Airline

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Positive EBITDA

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1Q19 Key Highlights

For all Asean AOCs

+54%

Narrowing of losses by AirAsia Indonesia as RASK up 10% and CASK down 11%

+12%

Profit growth by AirAsia Philippines

>87%

Load factor for all AOCs except for AirAsia Japan at 80%

+29%

Ancillary revenue (airline & non-airline)

2.3x

Teleport revenue RM101mn, in line with RM400mn FY target

+4ppt

Improvement in Malaysia domestic market share, as seeing fruits from adding 12% capacity in FY2018

21st

Oncoming aircraft to be received in May 2019

Lombok

Hub launched in May 2019

25mil

+66%

New website and Search Engine Optimized Pages:

+48%

BigPay GTV QoQ growth

Strengthening our core Digitalising the airline Building digital platforms

Profitable

After three consecutive quarters of losses

+9%

Airline revenue, with RASK up 3% despite adding 11% more ASK

+10%

Increase in flight search after launch of website flight search enhancement in Feb 2019

RM5.8bil

AirAsia.com Gross Transaction Value (GTV)

+US$7.8mil Incremental revenue

Conversion from flight select on website

Travel Doc Scanner available

  • n app in Feb 2019

AirAsia BIG Members (+9% QoQ)

+34% Conversion from flight

select on mobile

+23%

Increase in flight search on mobile

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Dividends

  • 2019: special RM0.90 payable in 29 Aug

2019; 34% dividend yield

  • 2018: Interim + special dividend – totaling to

RM0.64 for FY2018; 21.5% dividend yield

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Special Dividends from Monetising Our Digital/Support Assets

Ground Handling Service

  • Cash proceeds received in

Jan 2018 SGD119.3 million Pilot & crew training centre

  • Monetisation of 50%

stake: Cash proceeds of USD100 million received in Mid-Nov 2017 Hotel & travel

  • Sold 25% stake for

USD86 million in 2015

  • Sold remainder of 25%

for USD60 million in Aug 2018 Aircraft leasing

  • Sale of 79 aircraft and 14

engines concluded for USD1.085 billion in 4Q2018

  • Another 25 aircraft to transact

for USD768mil

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Agenda

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Achieving the unthinkable Strengthening our underlying airline business Digitalising the airline AirAsia 3.0 Leveraging our data to create platforms

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Fleet Plan

MAA TAA IAA PAA AAI AAJ Total December 2018* 95 62 24 22 19 2 224 2019 Net Addition 2

  • 1

2 3 11 1 18

* December 2018 fleet excludes 2 third party leases

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Fleet Expansion Across AOCs in 2019

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Target aircraft financing for 2019: All on sale and leaseback.

Note: Column chart includes 2 third party leases Fleet plan is subject to changes Updated fleet plan as at 27 May 2019

↷ ↷ ↷ ↷ ↷ ↷ ↷ ↷ ↷

+18 +36 +38 +32 +37 +30 +30 +30 +30

6 countries: Exploring others: Our long-term fl fleet plan

↷

+28

New A321neo aircraft are more fuel efficient & have lower cost per seat

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Growing Market Share

AirAsia’s Domestic Market Share & Rational Competition (1Q2019 vs 1Q2018)

4 ppts 1 ppt

4ppts 61%

32%

1ppt

18%

1ppt

6% 2%

flat

1 ppt 2 ppts 6 ppts

flat

FLAT 1 ppt FLAT 1 ppt 3 ppts

Source : PaxIS

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AirAsia Indonesia

EBITDA PAT

IDR billion 176% 54%

Indonesia reported higher EBITDA of IDR181bil +176% YoY and significant narrowing losses after tax of +54% as: ○ Revenue grew 60% YoY ○ Demand hike LF +7ppts ○ Improved yield RASK +10% ○ Well managed CASK -11%

EBITDA PAT

PHP million 233% 12%

Philippines EBITDA grew significantly by 233% to PHP1,538mil and profit after tax reported 12% growth due to: ○ Outstanding revenue growth of 27% YoY ○ +4ppts growth in LF at the back of 17% additional capacity ○ 3% improvement in RASK ○ Better cost control CASK -2%

AirAsia Philippines

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Agenda

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Achieving the unthinkable Strengthening our underlying airline business Digitalising the airline AirAsia 3.0 Leveraging our data to create platforms

Data-driven organisation

DATA USERS COE

DATA GOVERNANCE

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Cabin Baggage Weight Passengers Movement Aerobridge Movement Queue Time

Terminal

Online Activity Social Data Contact Details Transactions Loyalty Demographic Mobile Activity Feedback Engine & Component Transactions FOMAX Maintenance

Potential new data source

Feedback

Guests Aircraft

Available data source

Passengers Weight Counter Transactions Lifestyle Data Location Temperature Speed

Apron

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We have a lot of Data to drive ecosystem expansion

BIG Data and Real-time Insights

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Data taking us to new heights

Priorities to Focus On

Cost Reduction

Verticals to Work On

Fuel Cost Operations Efficiency

Skill Sets Required

Data Science

Goals to Achieve

Revenue Gain Increase Fuel Cost Efficiency Increase Cost Efficiency & Productivity Ancillary Increase Uptake Pricing / Bundling Drive Customer Retention Promos / Rewards Drive More Traffic

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Staying true to being low-cost

Our top priority, ALWAYS. Predictive maintenance to increase efficiency Driving fuel usage reduction through data analytics New A321neo aircraft that are fuel efficient & have lower cost per seat Adoption of ‘Agile’

  • rganisation

structure Lower airport charges

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Media cost on a downtrend with personalisation

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Agenda

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Achieving the unthinkable Strengthening our underlying airline business Digitalising the airline AirAsia 3.0 Leveraging our data to create platforms

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Marketplace Logistics Digital Bank & Insurance Lifestyle & Entertainment

Travel and fi financial platform of Asean

AirAsia ecosystem comprises the Group’s core airline network operations, travel and lifestyle commerce platform, financial and insurance services, logistics services, as well as lifestyle & entertainment affjliates

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Growth in 2019 and beyond: AirAsia 3.0

AirAsia BIG Loyalty points - BIGLIFE Data

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We are investing in people

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Building blocks laid for a platform business

Lye Kong Wei, Group Head of Data (Formerly from Grab)

AirAsia Software Engineering & Technology Center Bangalore, India

Elias Vafiadis, Group Head of Software Engineering (Formerly from Expedia)

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Fabrice Marie, Group Head of Information Security (Formerly from Lazada)

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Agenda

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Achieving the unthinkable Strengthening our underlying airline business Digitalising the airline AirAsia 3.0 Leveraging our data to create platforms

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AirAsia.com - All-in One Travel and Lifestyle Marketplace

New enhanced homepage UX/UI

  • n web & mobile
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AirAsia.com addressable market

8 Ride-hailing 10 Online media 23 E-commerce 30 Online travel

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29 Ride-hailing (Online food delivery,

  • nline transport)

31 Online media (Subscription music & video, online gaming,

  • nline advertising)

102 E-commerce 78 Online travel (Online vacation rentals, Online hotels,

  • nline flights)

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2018E

Asean internet economy market size (GMV, US$bn, By sector

2025E

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Source: e-Conomy Southeast Asia 2018 report by Google and Temasek

☑ Flights (direct & aggregator) In 2018, we estimate we had ~10% market share of the online travel space

Before setting up AirAsia.com as a separate entity: Now we are establishing AirAsia.com as a all-in-one travel and lifestyle marketplace

☑ Hotels ☑ Post-booking ☑ Holiday packages ☑ Transportation ☑ Activities ☑ Media ☑ Lifestyle deals ☑ OURSHOP ☑ Beauty ☑ Food delivery ☑ Community

Maintaining

  • ur current

~10% market share will yield us a potential GBV of US$24bn in 2025E

☑ Insurance, fintech

THEN OUR VISION

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Loans Remittance e-Money

BigPay - Financial Supermarket

Advanced money management

Asia’s Money App

  • Digital challenger bank

for Southeast Asian millennials and travelers

  • Democratise financial

services with simple and affordable solutions for e-wallet, remittances, and lending 600k users

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AirAsia Group Belly Space Consolidation/Partnerships

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Jan 2019 Aug 2018 May 2018 Jul 2018 1Q 2020 1Q 2020

Feb 2019

7-8 Airlines in pipeline

AirAsia Group Belly Space Consolidation/Partnerships Full Year 2018 : Revenue of RM206 mil. Target for Full Year 2019 : Revenue of RM400 mil

Existing cargo supply chain is ripe for disruption:

Apr 2019 Apr 2019

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Building Teleport to enable direct businesses and consumers Opening our logistics infrastructure to social sellers

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Note: Illustrative mockup of product

Social Commerce (C2C) is growing faster than ride-hailing in Asean

ASEAN includes – MY, PH, TH, ID, VN, SG (ASEAN6) 2018-2025 Social commerce estimated at ~50% of formal e-commerce segment Sources: Google Temasek Reports, Nomura research, Euromonitor, eCommerceiQ, news runs

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Traveloka 7.9

Key to our platform strategy is our low customer acquisition cost built over the last two decades

8 Ride-hailing 10 Online media 23 E-commerce 30 Online travel

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29 Ride-hailing (Online food delivery,

  • nline transport)

31 Online media (Subscription music & video, online gaming,

  • nline advertising)

102 E-commerce 78 Online travel (Online vacation rentals, Online hotels,

  • nline flights)

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2018E

Asean internet economy market size (GMV, US$bn, By sector

2025E

Asean unicorns & funding in 2016-1H18 (US$bn)

Grab 10.1 1.4 0.7 Lazada, Tokopedia, Shopee, Bukalapak, etc

Active users, from 2015 to 2018 AirAsia’s annual unique (web&app) visitors:

VNG, Razer 8mn 35mn 130mn 164mn 49mn 120mn

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Source: e-Conomy Southeast Asia 2018 report by Google and Temasek

560mn

Go-Jek

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AirAsia vs other platforms

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Market Dominance Visitors (per month) Daily active users Hotel nights for sales Merchants App Downloads Valuation ASEAN 65 million ~2m >500k 40m

(via Mastercard)

>40 million US$ 2.1 bil Indonesia/ASEAN 22.2 million 0.8mn >100k n/a 30 million US$ 4.0 bil Global 750 million n/a 352mn n/a >250 million US$ 17.3 bil

Source: Publicly available company data

ASEAN MAU: 18.6mn Ride-hailing: 4mn n/a >4k >110mn >US$10bn Indonesia/ASEAN MAU: 28 million Ride-hailing: 1.8m n/a 303k

(300k food merchants)

>100mn ~US$10bn

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THANK YOU!

AirAsia 3.0, starts here!

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1Q19 Group Financial Performance Highlights

RM million

Airline Revenue +9% Group EBITDA +13% Adjusted PBT

  • 31%
  • ne-ofgs
  • Airline revenue is higher 9% YoY due to 3% higher RASK despite adding 11% more ASK.

Passenger seat sales increased 15% YoY

  • PBT excluding one-ofgs is down 31% YoY mainly due to:

○ +64% higher maintenance & overhaul cost on the back of non-cash maintenance provisions of ~RM100m given higher number of leased aircraft post aircraft monetisation exercise in 2018; there is a difgering accounting treatment for major overhaul cost for leased aircraft and owned aircraft (further details in Appendix);

Gains on disposal of GTR RM350mil & Remeasurement gain RM535mil

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2Q19 Operating Statistics by AOCs

Malaysia Indonesia Philippines Thailand India Japan

Pax +11% +58% +22% +5% +25% +79% ASK +7% +58% +31% +12% +29% +103% RASK +0% +10% +3%

  • 10%

+0%

  • 1%

Domestic market share

61% (+4ppt) 2% (flat) 18% (-1ppt) 32% (flat) +6% (+1ppt) n/a Load factor 84% (-2ppt) 82% (+1ppt) 91% (+4ppt) 83% (-2ppt) 90% (+3ppt) 78% (-1ppt) CASK +11%

  • 11%
  • 2%

+0% +3%

  • 36%

We continue to grow across the board Impressive performance by ID, PH & IN as we build momentum with our strong brand All AOCs >82% load factor ex. Japan Sound RASK improvement in ID & PH despite high capacity addition Rationale pricing in MY, IN & JP. TH impacted (-)ve YoY due to Phuket incident in July. Nonetheless RASK improved 9% QoQ

1Q

Capacity +13% +56% +18% +8% +21% +81% RPK +6% +58% +33% +9% +32% +100%

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29% increase in Ancillary Revenue in 1Q19

Highlights:

  • AAGB ancillary reported RM663.7mil, ↑29% YoY
  • Notably, ancillary revenue for PAA and IAA grew

42% and 44% YoY respectively

  • Among them:

○ Inflight Duty Free ↑112% to RM7.2mil ○ Seat selection ↑26% to RM9.7mil ○ Baggage ↑15% to RM37.1mil ○ Santan ↑6% to RM2.2mil ○ Teleport reported RM101mil revenue

RM663.7mil

29%

RM143.6mil

161%

RM520.1mil

13%

23% of total revenue

Non-airline ancillary Airline ancillary

*On a like to like basis

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1Q19 Cost per ASK (“CASK”)

CASK and CASK ex. fuel increased by 8% and 11% YoY respectively from: ◆ Maintenance and overhaul ↑64% from non-cash maintenance provisions of ~RM100m given higher number of leased aircraft post SLB arrangement (further explanation in Appendix) ◆ Ringgit and Rupiah depreciated by 5% and 3% respectively.

+11% 13.55 14.57 +8% sen

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Digital Platforms

  • Gross Transaction Value (GTV) of RM5.8bil in 1Q2019
  • AirAsia.com generated EBITDA of RM557k in 1Q2019
  • Teleport - recorded RM101mil in revenue, 2.3x higher than cargo

revenue in 1Q2018 (on like-to-like basis)

  • Belly space consolidated for: Malaysia and Indonesia AOCs

(completed in 2018) and Philippines AOC (completed in 1Q2019)

  • Rebranding of RedCargo and RedBox to Teleport
  • BigPay - over 600k signed up customers
  • GTV grew by 48% QoQ, with new card issuance increasing by 28%

for same period

  • Revenue for 1Q2019, grew 29% QoQ, rising from circa. 50%

between Feb to March alone

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  • Our Group’s fuel hedging strategy is based on our forward sales booking
  • Brent – 61% hedged for FY2019 at USD63.19 per barrel; 70% hedged for FY2020 at

USD60.38 per barrel; FY2021 19% at USD59.45 bbl

  • Interest rates – All USD loans (for aircraft) are either fixed rate loans or have fixed interest

rates via interest rate swaps

9% 91%

Loans by currency: USD (80%), MYR (13%) and EUR (7%)

0%

AirAsia Group 2019 Q1 Q2 Q3 Q4 Current Hedge Ratio (Brent) 53% 52% 70% 70% Average Brent Hedge (Qtrly) 66.68 63.73 62.04 61.58 Avg Hedge Cost (Qtrly) - Total 80.57 78.23 76.74 76.62 Average Hedge Cost (2019) - Total 79.40

Only 9% of USD borrowings are totally unhedged:

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Fuel & Currency Hedging

Note: As at 24 July 2019

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COMMUNITY Global community to drive engagement COMMERCE Best deals for travel & lifestyle CONTENT Creative visuals & stories, sharing

  • f experience

AirAsia.com Overview

  • Incorporated in 2019, AirAsia.com is a regional web and mobile app

platform for travel and lifestyle bookings in Asia

  • Offers consumers travel and lifestyle products that are available for

purchase using various payment methods, including loyalty points

  • Expanding beyond AirAsia’s airline network, AirAsia.com features

global flights operated by other peer airlines and both proprietary and non-proprietary travel and lifestyle inventories for consumers to choose from

  • Built travel and lifestyle ecosystem through strategic partnerships with

local and regional partners working as earn and burn channels of loyalty points for consumers Spencer Lee (CEO)

Former Head of Commercial at AirAsia Malaysia

  • Flight
  • Hotel / Vacation

Rental

  • Flight + Hotel
  • Transport
  • Tours + Activities
  • Insurance
  • Itinerary Builder
  • Shop
  • Duty Free
  • F&B
  • Health, Fitness
  • Events
  • Ticketing
  • Services
  • Media
  • Content

(Print + Digital)

  • Inflight

Entertainment

  • Infrastructure

(Inflight WiFi)

  • Podcast
  • Content driven

beauty marketplace

  • Cosmetics
  • Wellness
  • Skincare
  • Fragrance
  • Haircare

Travel Lifestyle Content Beauty Business Summary Products & Services

  • Marketplace for

comprehensive and proprietary content and inventory for

  • ther businesses to

plug-in and use

B2B

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BigPay Overview

  • Launched in 2018, BigPay aim to democratize financial services in

Asia by building a digital bank that offers consumers e-wallet service, remittance and lending

  • Value proposition includes easy user experience, usability via

Mastercard’s extensive network, issuance of Big Points upon top up or use, zero foreign exchange rate charged during international travels, and zero booking fees when booking on AirAsia.com Christopher Davison (CEO)

Former Director of Clearwater Partners Former Investment Manager at Talis Capital Limited

Business Summary Key Features Proprietary Licences e-Money Lending Remittance

  • Native iOS and Android build
  • Latest tech stack & proprietary software
  • Seamless, mobile-only user experience
  • Bank grade and biometric security
  • Peer-to-peer payments & split bills
  • Fully automated spending analytics
  • In-app card / account management
  • Issue Mastercard / Visa card

Make financial services better value, more transparent and fairer for everyone

AirAsia Big Points earn with daily spend Save Money

  • n AirAsia flights

Best Exchange Rate when spending abroad Instant Money Transfer to your friends for free Expense Analytics in real time

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Teleport Overview

  • Today, a consolidator of belly capacity for the AirAsia group of airlines,

enabling cargo carriage for businesses across 110+ cities

  • Global network reach through partner airlines beyond Asia covering

US, Europe, Middle East and Australia/New Zealand

  • Our goal is to re-order the supply chain, with the airport as the

distribution center of the future, and make same-day cross-border fulfillment a reality

  • We intend to open our platform and infrastructure to empower

consumers and small businesses across Southeast Asia Pete Chareonwongsak (CEO)

Former COO at AirAsia Philippines Former Group Head of Business Development

Business Summary Offering Door-to-Door Cross Border Logistics Services

Last Mile Delivery

Identify various last mile partners based on items

First Mile Collection

Parcel collection in origin country (warehouse / pick up / drop off points)

Partner Warehouse

Consolidation and sorting by consignee for final delivery at destination country

Transportation

Cargo terminal and warehouse as well as cross docking for final delivery leg

Customs Clearance

Outbound and inbound custom clearance in origin and destination countries

Affordable Air Freight

Now: AirAsia Network Next: 8 Major Asean Cities Aim: 4 Capital Cities

AirAsia Group Belly Space Consolidation/Partnerships

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Jan 2019 Aug 2018 May 2018 Jul 2018 1Q 2020 1Q 2020

Feb 2019

7-8 Airlines in pipeline

Apr 2019 Apr 2019

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Points Exchange

  • Convert your other (Citi, CIMB, Maybank) points to

Big Points on Big Exchange points marketplace Co-Branded Cards

  • Earn extra Big Points when spending on the

co-branded credit cards

Products & Services

  • Formally known as Big Loyalty and rebranded in 2019, BigLife is

AirAsia’s frequent flyer program aiming to power AirAsia’s greater ecosystem with its loyalty points as a high utility digital currency

  • Offers consumers earning opportunities when transacting with an

ecosystem partner and also offers consumers the option to purchase travel and lifestyle products using the user’s point balance

  • Provides additional benefits for its members such as exclusive

discounts and priority access to sale inventories

  • Tied to AirAsia’s single sign on to maximize value for users and create

a wholistic profile of users’ behavioral patterns

BigLife Overview

Business Summary Major Customer Value Propositions

Points Earn & Burn

  • Earn and use points at travel and

lifestyle partner channels TBD (CEO) Exclusive BIG Member discounts at up to 90% Pay with BIG Points and save more on flight bookings 24-hour priority access to AirAsia sales Full flight redemption for free flights Redeem short haul flights from as low as 500 BIG Points Shop online and earn BIG Points for every cash spent Earn and save BIG with Fave deals Rewards differentiated by membership statuses

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