INVESTOR PRESENTATION ANNUAL RESULTS 2018 2 May 2019 Disclaimer - - PowerPoint PPT Presentation
INVESTOR PRESENTATION ANNUAL RESULTS 2018 2 May 2019 Disclaimer - - PowerPoint PPT Presentation
INVESTOR PRESENTATION ANNUAL RESULTS 2018 2 May 2019 Disclaimer Forward looking statements: This presentation contains certain forward -looking statements with respect to daas financial condition, results of operations and business and
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Document Classification: Class 1 - General
Forward looking statements: This presentation contains certain “forward-looking statements” with respect to daa’s financial condition, results
- f operations and business and certain of daa’s plans and objectives with respect to these items. By their very nature forward-looking
statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to and depend upon future events and
- circumstances. There are a number of factors that could cause actual results and developments to differ materially from those expressed or
implied by these forward-looking statements. All forward-looking statements in the presentation are expressly qualified in their entirety by such
- factors. daa does not intend to update any forward-looking statements.
No warranty as to accuracy: Neither daa nor any person acting on its behalf (i) makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained within this presentation or (ii) shall have any liability whatsoever for loss, howsoever arising, directly or indirectly, from use of the information contained within this presentation. Confidentiality and no invitation to engage in investment activity: This presentation is strictly confidential, provided for information purposes only, and may not be distributed to or used by any other person, body corporate or firm. This presentation does not constitute an
- ffer or commitment by daa or any of its affiliates to enter into any transaction (nor should it be construed as an advertisement, offer or invitation
to subscribe for, purchase, sell, exchange or transfer securities of daa or any of its affiliates in any jurisdiction) and nothing contained in this presentation shall form the basis of, serve as a basis for or constitute any kind of contractual or other obligation. Prospectus Directive: This presentation does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the “Prospectus Directive”) or any implementing legislation or rules relating thereto and has not been approved by a competent authority for the purposes of the Prospectus Directive. Further distribution: The distribution of this presentation in certain jurisdictions may be restricted by the laws of those jurisdictions. Accordingly, copies of this presentation must not be mailed or otherwise forwarded, distributed or sent into any jurisdiction where to do so would constitute a violation of the relevant laws of such a jurisdiction and daa accepts no liability to any person in relation to its distribution in any jurisdiction
Disclaimer
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Document Classification: Class 1 - General
Agenda
daa Group Overview Financial Results Business Review Building For Ireland’s Future Q&A
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Document Classification: Class 1 - General
Dublin Airport Ireland Cork Airport Ireland Düsseldorf Germany Larnaca & Paphos airports Cyprus Beirut Lebanon Riyadh Saudi Arabia Doha Qatar Muscat Oman Manama Bahrain Dehli India Jakarta Indonesia Auckland New Zealand Halifax Canada Québec City Canada Montréal Canada Winnipeg Canada Bridgetown Barbados
Where we operate
daa Group Overview
FINANCIAL RESULTS
Business Review Building For Ireland’s Future Q&A
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Document Classification: Class 1 - General
€897m €426m €289m €133m
OPERATING COSTS EBITDA PROFIT AFTER TAX
(PRE-EXCEPTIONAL)
TURNOVER
+5%
€661m 1.5x
LIQUIDITY NET DEBT/EBITDA
+4% +7% +6%
€441m
NET DEBT
- 18%
A-
CREDIT RATING
(S&P Global Ratings)
Results Overview
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Document Classification: Class 1 - General
€m 2018 2017 % change
Turnover 897 855 +5% Gross profit 715 680 +5% Operating costs (426) (409) +4% EBITDA 289 271 +7%
Financial Overview
m 2018 2017 % change
Passengers 33.9 31.9 +6%
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Document Classification: Class 1 - General
€m 2018 2017 % change
EBITDA 289 271 +7% Depreciation and amortisation (124) (113) +10% Share of profits – associates / joint ventures 17 29
- 41%
Net interest (26) (36)
- 28%
Minority interest (2) (6)
- 64%
Tax (21) (20) +4% Group profit after tax1 133 125 +6%
1pre exceptionals and fair value movements
Earnings Detail
daa Group Overview Building For Ireland’s Future Q&A
BUSINESS REVIEW
Financial Results
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Document Classification: Class 1 - General
23.9m 27.1m 30.1m 31.9m 33.9m
2014 2015 2016 2017 2018
21.7m 25m 27.9m 29.6m 31.5m
2014 2015 2016 2017 2018
2.2m 2.1m 2.2m 2.3m 2.4m
2014 2015 2016 2017 2018
Record Irish Passenger Numbers
+6.5% +6.3% +3.7%
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Document Classification: Class 1 - General
Irish Growth Driven by European & Transatlantic Traffic
- 33K
+52K +130K +149K +517K +1182K
UK Provincial Others London Middle East Transatlantic Europe 16% 18% 2% 17% 7%
- 1%
2.1m Hub Pax +18%
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Document Classification: Class 1 - General
Key Airline Customers Expanding
+338K +53K +54K +59K +81K +112K +113K +185K +485K +515K
Others Qatar Cathay Pacific Icelandair Luftansa Flybe KLM Norwegian Ryanair Aer Lingus
5% 4% 65% 32% 45% 16% new 85% 6%
8/10 Europe 5/10 Transatlantic 3/5 Middle East
Major Airlines
new
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Document Classification: Class 1 - General
Flights ghts based on S19 9 and correct rect as of April l 1, 2019 19
NEW
2019 Destinations
Aalborg • Billund • Bodrum Bournemouth • Dallas Fort Worth Cagliari • Calgary • Carlisle • Halifax Gothenburg • Kiev • Lourdes Minneapolis-St. Paul • Shenzhen Thessaloniki • Toronto Hamilton
1316
FLIGHTS TO EUROPE PER WEEK
228
FLIGHTS TO NORTH AMERICA PER WEEK
47
FLIGHTS TO ASIA, MIDDLE EAST & AFRICA PER WEEK
845
FLIGHTS TO GREAT BRITAIN PER WEEK
Dublin Airport – Route Network
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⦿ 31.5m passengers +6% ⦿ 1.9m additional passengers ⦿ 16 new routes & 6 new airlines in 2018 ⦿ 5m long-haul pax (inc 4m transatlantic) ⦿ 2.1m connecting pax +18% ⦿ Joint best European airport for customer service in 2018 (25-40m pax); ACI ASQ Awards
Dublin Airport Review
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Document Classification: Class 1 - General
Dublin Enhancements In 2018
⦿ T1 Arrivals & Departures Upgrade ⦿ New €16m transfer facility ⦿ Apron/Stand Works ⦿ Runway Overlay Complete
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Document Classification: Class 1 - General
Flights ghts based on S19 9 and correct rect as of April l 1, 2019 19
NEW
2019 Destinations
Budapest • Dubrovnik Katowice • Lisbon • London Luton Malta • Naples • Nice Poznan
132
FLIGHTS TO GREAT BRITAIN PER WEEK
125
FLIGHTS TO EUROPE PER WEEK
Cork Airport – Route Network
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⦿ 2.4m passengers +4% ⦿ 16% traffic growth over past three years ⦿ Growth in all key market sectors ⦿ 3 new routes, 14 route expansions in 2018 ⦿ Ireland’s most punctual airport* ⦿ World Routes Marketing Award 2018 (<4m pax)
(*OAG)
Cork Airport Review
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Document Classification: Class 1 - General
⦿ Strong non-aeronautical revenue growth ⦿ Commercial performance at Dublin & Cork airports +9% v 6% pax growth ⦿ Dublin Airport car parks +10% ⦿ Dublin exec lounges +18% & Platinum Services +15% ⦿ Strong performance from Cork car parks +10% & exec lounge +50%
Irish Commercial Review
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Document Classification: Class 1 - General
⦿ ARI managed turnover €823m +13% ⦿ Contracts retained after new tenders ⦿ 2 new locations: Indonesia & Saudi Arabia ⦿ T2 Dublin retail upgrade ⦿ Opened new Delhi arrivals store ⦿ Full-year of new Québec business
ARI
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⦿ T5 Riyadh (KKIA) 14.7m pax +13% ⦿ New Riyadh Projects ⦿ daaI entering Philippines – advising Aboitiz ⦿ Düsseldorf Airport, 24.3m pax -1%
- 5.2m Q1 2019 +12.5%
⦿ Hermes Airports, 10.9m pax +7%
- 1.4m Q1 2019 +4.7%
daa International/Investments
daa Group Overview
BUILDING FOR IRELAND’S FUTURE
Business Review Q&A Financial Results
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Keeping Ireland Connected - Dublin At 40m Pax
⦿ 23% increase in aircraft parking ⦿ €1bn on capacity in northern & southern campus ⦿ 2 new boarding gate areas, 18 gates ⦿ Delivers National Aviation Policy ⦿ DUB’s largest ever capital programme ⦿ 2020-2024 capex plan with CAR
North Runway
⦿ Roadbridge/FCC; sod-turning Feb 14 ⦿ Major groundworks underway ⦿ 31,200 new jobs & €2.2bn of extra GDP by 2043 ⦿ Onerous conditions: 11pm-7am restrictions ⦿ Restrictions - busiest time of day ⦿ Reduced flights on both runways ⦿ 3m pax lost immediately ⦿ New noise regulator
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Document Classification: Class 1 - General
⦿ Runway planning/operating conditions ⦿ Infrastructure planning environment ⦿ CAR price cap needs to fund required expansion ⦿ Policy issues: capacity review/Cork ownership ⦿ Brexit ⦿ Changing travel retail environment ⦿ Macro environment: downside risks
Business Challenges
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⦿ Record financial performance from a global business growing in scale ⦿ Record Irish passenger numbers and continued growth in 2019 YTD ⦿ Building for Ireland’s future with capacity expansion at Dublin Airport
- Vital post-Brexit
- Runway operating conditions critical