Qu Quart rter er 3 In Inte teri rim m ma mana nageme ment - - PowerPoint PPT Presentation

Qu Quart rter er 3 In Inte teri rim m ma mana nageme ment nt Sta tate teme ment nt

3 months to 30th June 2012

25th July 2012

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1

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Strong Q3 performance - in a difficult market

Reve venue ue growth th in line e with expec pectatio tations ns

• Constant currency RPS growth +4.7%; Reported RPS growth +2.8%
• Strong performance in France and Switzerland
• Load factors improved by 2.8 ppt to 89.1%
• Capacity constraint across the market (flat capacity in easyJet’s markets)

Strong

• ng basi

sics cs

• On time performance improved by 3 p.p. to 87%

Strong

• ng cost

t contro rol

• Cost per seat excluding fuel up by 1% (constant currency), well within guidance of 2%

for H2 despite rising airport costs. Cost per seat down by 3% (reported)

• easyJet lean delivered significant successes in ground handling

Full year r profi fit t growth th expecte pected

• The continued strong operational and financial performance of the business

combined with the fall in the price of jet fuel means that profit before tax for the year ending 30 September 2012 is anticipated to be in the range of £280 million to £300 million, at current fuel and exchange rates, assuming no significant disruption

Rates as at 11am 24th July 2012: US$1.55/£, €1.28/£ and US$972 per metric tonne

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Rev even enue ue in line e with h guida dance nce

Q3 ‘12 Q3 ‘11 Change

Passengers (m) 16.0 14.4 10.9% Load factor (%) 89.1% 86.3% 2.8ppt Seats (m) 17.9 16.7 7.5% Sector length (km) 1,101 1,118 (1.5)% Total revenue (£m) 1,033 935 10.5% Total revenue per seat (£) 57.58 56.02 2.8% @ constant currency (£) 58.65 56.02 4.7%

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0.5% 2.9% 3.2% 0.2%

• 0.2%

17.1% 7.3% 6.9% 0.2% 7.5% 5.2% 11.8% 9.2% 14.6% 2.8% Q3'11 Q4'11 Q1'12 Q2'12 Q3'12

RPS and capacity changes es

Seats flown RPS

Conti ntinue nued d good d rev evenu enue e pe performa

• rmance

nce

Q3 ‘12 Q3 ‘11 Change @ cc

Seat revenue (£m) 1,016 918 10.7% 12.7% per seat (£) 56.62 54.97 3.0% 4.9% Non-seat revenue (£m) 17 17 (1.4)% 2.7% per seat (£) 0.96 1.05 (8.2)% (4.5)%

Compet mpetitor capa pacity chan ange ge

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Succe ccessful ssful mobil ile e app pp la launch nch

Source : market growth as per OAG

Mobile ile ap app intr troduced

• duced in Dece

cember mber 2011 011

• 2.1 million downloads to date
• £20 million revenue
• Now exceeding 2% of sales

First rst phase ase (iPh iPhone

• ne & Andr

droid)

• id)

 Book a flight  Change a flight  Add ancillaries  Check flight status

Futur ure devel elopmen

• pments

ts

• Mobile website for other platforms & users
• Optimise functionality – e.g. adding a bag
• Making travel easier – e.g. mobile boarding passes

0.3 0.6 0.9 1.1 1.4 1.7 2.0 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12

Mobile app downloads

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Al Allo loca cating ting capac pacity ity to im impr prove

• ve ret

eturns rns

France:

• Capacity growth of 13%; increasing share
• New regional bases in Nice & Toulouse

performing well Switzerlan land: :

• Capacity growth of 13%
• RPS above average and improving

Portuga gal

• New base Lisbon opened
• Weak legacy incumbent

Northern rn Italy

• Capacity growth of 6%
• Growing share at Milan Malpensa

Capaci city ty being ng allocat ated d to the routes es which will deliv liver er optim imal al retu turns rns and growth th

Source : market growth as per OAG

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Attractiv iveness ss ratin ing FY Y Returns s (Network touching)*

Relative attractive veness vs. . returns of major networ work k points

Monitorin itoring g ret eturns rns at major

• r net

etwork work po poin ints ts

Framework for evaluating network

• Robust data led process for reviewing returns across network
• Action taken to improve performance
• Proposed closure of Madrid base
• Reducing number of aircraft in Liverpool

Madrid

* Chart reflects contribution per block hour of the major easyJet network points

Liv’pool

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• Aircraft are deployed around network to maximise overall returns
• Most aircraft earn average returns
• A320 aircraft deliver better returns than the A319

Green = aircraft taken into service in year Black = aircraft taken out of service in year (not necessarily returned)

A319

Oldest Aircraft Youngest Aircraft Oldest Aircraft Youngest Aircraft

A320 Boein eing

Contrib ibutio ion n by aircraft aft for year to 31st

st March’12

(At request of easyGroup)

Contri tribut butio ion n pe per air ircr craft aft

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Hed edgin ing upda pdate te

Percentage of anticipated requirement hedged Fuel requirement US Dollar requirement Euro requirement

Three months ending 30 September 2012 85% 79% 76% Rate $982/MT $1.59 €1.15 Full year ending 30 September 2012 79% 79% 77% Rate $964/MT $1.59 €1.14 Full year ending 30 September 2013 77% 71% 59% Rate $985/MT $1.60 €1.15

Sensitivi vities s for remaind inder r of the y year:

• $10 per tonne movement in the price of Jet fuel will impact the full year pre-tax result by

+/-$0.8 million

• 1 cent movement in the £:$ will impact the full year pre-tax result by +/-£0.6 million
• 1 euro cent movement will impact the full year pre-tax result by +/-£0.2 million

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86% 76% 89% 77% 77% Q3 Jul Aug Sep H2 FY'11 FY'12

Forward ward booki kings ngs broadl adly y in line e with h last st yea ear

% Seats sold as at 22nd July 2012

Strong

• ng demand

nd in lat ate e mar arke ket

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Outlook look

Capaci pacity ty (seat eats s flow

• wn)

n)

• H2: +7% (if no significant disruption)
• FY: +5% (if no significant disruption)

Reve venu nue e per seat eat (consta nstant t currency ncy)

• H2: low to mid single digits

Cost t per sea eat t ex fuel el (consta nstant t currency) ncy)

• H2: up 1% to 2% (assuming no significant disruption)

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“•The continued strong operational and financial performance of the business combined with the fall in the price of jet fuel means that profit before tax for the year ending 30 September 2012 is anticipated to be in the range of £280 million to £300 million, at current fuel and exchange rates, assuming no significant disruption.”

Rates as at 11am 24th July 2012: US$1.55/£, €1.28/£ and US$972 per metric tonne

Appendices

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87% 84% 82% 84% 85% 88% 88% 87% Apr May June Q3

On-time performance - arrivals within 15 minutes1)

2011 2012

Cont ntinu nued ed robus ust t ope perat rationa ional pe perform

• rman

ance ce

• Best in class on-time

performance Strong on-time performance enables

• efficient operation
• enhances customer

satisfaction

Source: 1) Internal data 2)

• Flightstats. Com; RYA excluded as data missing from June ‘11 – Sept ‘11

85% 87% 77% 82% 76% 79% 76% 76% 78% 87%

2011 2012

OTP - rolling 12 months flights stats.com2)

KLM Lufthansa Air France British Airways easyJet

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Line e of flying ng: : assu sumpti mptions

• ns and

d met ethodol hodology

• gy
• All revenue generated by Line of Flying (LOF)
• Contribution is a defined measure within easyJet which recognises specific costs which

are routed to LOF

• All costs derived from routed costs by month and then back calculated across each

flight in month for that route. Elements excluded are:

• Fixed crew costs, Marketing, Ownership and other non operating costs, Other

fixed costs. 408,00 000 0 lines of flying covering the p period April il 2011 to March 2012

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Di Discla claime mer

This communication is directed only at (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001; or (ii) high net worth bodies corporate, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001. Persons within the United Kingdom who receive this communication (other than those falling within (i) and (ii) above) should not rely on or act upon the contents of this communication. Nothing in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion contained in the Financial Services and Markets Act 2000. This presentation has been furnished to you solely for information and may not be reproduced, redistributed or passed on to any other person, nor may it be published in whole or in part, for any other purpose. This presentation does not constitute or form part of, and should not be construed as, an offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities of easyJet plc (“easyJet”) in any jurisdiction nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This presentation does not constitute a recommendation regarding the securities of

• easyJet. Without limitation to the foregoing, these materials do not constitute an offer of securities for sale in the

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