SI A GROUP FI NANCI AL RESULTS For Q1 FY2015-16 Ended 30 June 2015 - - PDF document

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197200078R

SI A GROUP FI NANCI AL RESULTS

For Q1 FY2015-16 Ended 30 June 2015

SI A GROUP Q1 FY2015-16 Actuals

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111.4 Operating Profit 3,733.3 Total Revenue Group # 3,621.9 1,252.5 2,369.4 Total Expenditure

• Net Fuel cost
• Non-fuel expenditure

SI A GROUP Q1 2015-16 SI A GROUP Q1 2015-16

111.0 3,565.0 Group Ex- Tiger * 3,454.0 1,190.7 2,263.3

# Tiger’s results are consolidated with effect from Q3 FY14/ 15

* Group Ex-Tiger refers to Group operating results excluding Tiger’s operating results

Q1 FY15/ 16 Q1 FY15/ 16

Slide 3

SI A GROUP EX-TI GER Q1 FY2015-16 Actuals

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Q1 FY15/ 16 vs Q1 FY14/ 15

$117.2 M (-3.2% ) Group Revenue

$M 3,577.6 3,777.4 3,840.2 3,682.2 3,565.0 2,000 2,500 3,000 3,500 4,000 Q1 FY11/ 12 Q1 FY12/ 13 Q1 FY13/ 14 Q1 FY14/ 15 Q1 FY15/ 16

SI A GROUP EX-TI GER Q1 2015-16 SI A GROUP EX-TI GER Q1 2015-16

Slide 5

Group Expenditure

Q1 FY15/ 16 vs Q1 FY14/ 15

$188.7 M (-5.2% )

$M 3,566.6 3,705.4 3,758.5 3,642.7 3,454.0 2,000 2,500 3,000 3,500 4,000 Q1 FY11/ 12 Q1 FY12/ 13 Q1 FY13/ 14 Q1 FY14/ 15 Q1 FY15/ 16

SI A GROUP EX-TI GER Q1 2015-16 SI A GROUP EX-TI GER Q1 2015-16

Slide 6

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Operating Profit Margin + 2.0% pts Operating Profit

$71.5M (+ 181.0% ) Group Operating Profit

$M

39.5 72.0 81.7

111 50 100 150 Q1 FY11/ 12 Q1 FY12/ 13 Q1 FY13/ 14 Q1 FY14/ 15 Q1 FY15/ 16

111.0 3.1 1.1 2.1 0.3 1.9

1 2 3 %

11.0

SI A GROUP EX-TI GER Q1 2015-16 SI A GROUP EX-TI GER Q1 2015-16

Slide 7

SI A GROUP EX-TI GER Q1 2015-16 SI A GROUP EX-TI GER Q1 2015-16

Composition of I ncrease in Operating Profit

39.5

Q1 FY14/ 15

Lower net fuel cost + 182.5

Fuel

+ 5.8

Others

Lower cargo and mail revenue

• 36.5

Cargo & mail revenue

111.0

Q1 FY15/ 16

60 120 180 240 + 71.5 (+ 181.0% ) $M Lower flown revenue

• 125.8

Pax flown revenue

Lower engineering services revenue

• 32.3

Engineering

Slide 8 Higher

• ther

revenue + 77.8

Other Pax revenue

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Q1 FY15/ 16 ($ M) Q1 FY14/ 15 ($ M) Better/ (Worse) ($ M) (% ) SI A 107.8 45.0 62.8 139.6 SI AEC 20.5 20.7 (0.2) (1.0) SilkAir 4.8 2.0 2.8 140.0 SI A Cargo (8.5) (18.2) 9.7 53.3 Scoot (19.7) (24.5) 4.8 19.6

Group Operating Profit

SI A GROUP EX-TI GER Q1 2015-16 SI A GROUP EX-TI GER Q1 2015-16

Slide 9

Group Net Profit

Q1 FY15/ 16 vs Q1 FY14/ 15

$56.4 M (+ 162.1% )

$M

SI A GROUP Q1 2015-16 SI A GROUP Q1 2015-16

44.7 78.0 121.8 34.8 91.2 50 100 150 1Q FY11/ 12 1Q FY12/ 13 1Q FY13/ 14 1Q FY14/ 15 1Q FY15/ 16 Slide 10

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$M

Group Profit Attributable to Owners of the Parent

20 40 60 80 100 120 Q1 FY14/ 15 34.8

SI A GROUP Q1 2015-16 SI A GROUP Q1 2015-16

Operating Profit Higher

• perating

profit + 71.9 Associates + 11.8 Lower share of losses from Associates Loss this year vs profit last year JVs

• 17.0

Loss this year vs gain last year Disposals

• 10.3

Q1 FY15/ 16 91.2 + 56.4 (+ 162.1% ) Slide 11

PARENT AI RLI NE COMPANY Q1 FY2015-16 Actuals

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8.5 8.7 Passenger Unit Cost (¢/ ask) 79.4 79.8 Passenger Breakeven Load Factor (% ) 10.7 10.9 Pax Yield – include fuel surcharge (¢/ pkm) Q1 FY15/ 16 Q1 FY14/ 15

• 3.1
• 2.1

Passenger Load Factor Spread (% pts) Passenger Load Factor (% ) 77.7 76.3

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

22,513.6 23,499.4 Revenue Passenger-KM (M) 29,520.8 30,263.2 Available Seat-KM (M)

• 0.4 pt
• 2.3
• 1.8

Change %

• 1.0 pt
• 1.4 pts
• 4.2
• 2.5

Slide 13

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

107.8 45.0 Operating Profit 3.7 1.5 Operating Profit Margin (% ) 2,909.4 3,008.7 Total Revenue Q1 FY15/ 16 ($M) Q1 FY14/ 15 ($M) 2,801.6 994.3 1,807.3 2,963.7 1,149.6 1,814.1 Total Expenditure

• Net Fuel cost
• Non-fuel expenditure

62.8

• (99.3)

Better/ (Worse) ($M) 139.6 2.2 pts (3.3) Better/ (Worse) % 162.1 155.3 6.8 5.5 13.5 0.4

Slide 14

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% 76.9

Operating Performance

Passenger Load Factor Breakeven Load Factor

• 1.2
• 4.0
• 2.1
• 3.1

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

78.0 82.0 79.8 79.4 80.7

60 65 70 75 80 85 90 Q1 FY11/ 12 Q1 FY12/ 13 Q1 FY13/ 14 Q1 FY14/ 15 Q1 FY15/ 16

• 2.4

75.6 79.5 78.0 77.7 76.3

Slide 15

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

Monthly Pax Yields (I ncluding Fuel Surcharge)

¢/ pkm 10.9 11.1 11.2 10.8 10.8 11.3 11.1 11.1 11.3 10.9 11.1 11.3 10.7 10.9 10.8 10.7 11.2 11.5 11.4 11.4 11.4 10.7 10.5 11.4 11.5 10 11 12 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar FY13/ 14 FY14/ 15 FY15/ 16 Slide 16

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Aircraft Depreciation & Lease Rentals 451.7 (-4.7, -1.0% )

Cost Composition

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

Fuel Cost Post Hedging 994.3 (-155.3, -13.5% ) Staff Costs 374.9 (-10.8, -2.8% ) Handling Charges 218.7 (-0.8, -0.4% ) Passenger Costs 164.0 (-7.6, -4.4% ) Others 274.5 (+ 10.2, + 3.9% ) AMO Costs 179.9 (+ 16.8, + 10.3% ) LPO* Charges 143.6 (-9.9, -6.4% )

* Landing, Parking and Overflying

35.5% 16.1% 9.8% 13.4% 7.8% 5.1% 5.9% 6.4% Slide 17

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

1,206 1,236 1,174 1,157 1,150 1,194 1,182 1,011 994 120 126 127 126 124 122 102 74 77 124 121 123 124 121 123 121 103 98

20 40 60 80 100 120 140 400 600 800 1,000 1,200 1,400 1,600 1,800 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 USD/ BBL $’M

Fuel Cost after hedging Fuel Price before hedging Fuel Price after hedging

Fuel Price

FY13/ 14 FY14/ 15 FY15/ 16 Slide 18

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Composition of Decrease in Fuel Cost (After Hedging)

1,149.6 650 900 1,150 Q1 FY14/ 15 $M

• 437.0

Price Lower weighted average fuel price + 239.6 Hedging Hedging loss vs gain last year

• 11.5

Others + 53.6 Exchange Stronger US Dollar 994.3 Q1 FY15/ 16

• 155.3

(-13.5% )

PARENT AI RLI NE COMPANY Q1 2015-16 PARENT AI RLI NE COMPANY Q1 2015-16

Slide 19

SI A GROUP EX-TI GER Hedging Update

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SI A GROUP EX-TI GER SI A GROUP EX-TI GER

Slide 21

Fuel Hedging Position

Q2 FY15/ 16 H2 FY15/ 16 Jet Fuel Jet Fuel Brent Percentage hedged (% ) 55.4 44.4 4.2 Average hedged price (USD/ BBL) 104 94 102