PRESENTATION FOR SHAREHOLDERS - Avia Solutions Group · PRESENTATION FOR SHAREHOLDERS CONSOLIDATED...

PRESENTATION FOR SHAREHOLDERS CONSOLIDATED FINANCIAL INFORMATION FOR 1HY 2015

13 August, 2015

ASG Group’s Achievements in 1HY 2015

ASG Group’s Structure / Areas of Activity

ASG Group’s Financial Results in 1HY 2015

ASG Group’s Revenue, Net Profit

Sales / Operating Profit Breakdown by Business Segments

Consolidated Balance Sheets

ASG Group’s CAPEX

ASG Group’s Employees

ASG Share Price & Performance

ASG Shareholders

Content

1

ASG Group Achievements in 1HY 2015

Financial Parameters:

2

Increase in consolidated revenue from continuing operations by EUR 16 million, by 18% (2015 1HY vs 2014 1HY) primarily due to: significant growth increase in demand for aircraft ground

handling and fuelling services; offering of new services as Private Jet Charter operations

(business charter activity started in summer 2014).; sustainable growth increase in business Jet MRO; sustainable growth increase in demand for base maintenance

services.

EUR 1 324 thousand of net profit attributable to equity holders (almost EUR 2 million from continuing operations).







ASG Group’s CAPEX



ASG Shareholders

3


MRO Segment (10 companies)

GH & Fuelling Segment (5 companies)

Training Segment (2 companies)

Private Jet Charter and Flight Operations

(2 companies)

FL Technics AB (100%) Jet Maintenance Solutions UAB (100%)

Locatory.com UAB (95%) FLT Trading House UAB (100%)

FL Technics Line OOO (93%) FL Technics Ulyanovsk OOO (99%)

Storm Aviation Ltd. (100%) Storm Aviation Cyprus Ltd. (100%)

Kauno aviacijos gamykla UAB (100%) Helisota UAB (100%)

Baltic Aviation Academy UAB (100%) AviationCV.com UAB (100%)

Baltic Ground Services UAB (100%) Baltic Ground Services Sp.z.o.o (100%)

Baltic Ground Services s.r.l. (100%) Baltic Ground Services TOV UA (100%)

Baltic Ground Services RU OOO (100%)**

KlasJet UAB (75%) Laserpas UAB (90%)

* - classified as discontinued operations, in financial statements as at 30 June 2015 shown as disposal group classified as held for sale ** - on 23 March 2015 Baltic Ground Services RU OOO, a subsidiary of Baltic Ground Services UAB, was established *** - on 6 May 2015 Ramport SECURITY OOO, a subsidiary of Ramport AERO OAO, was established, classified as held for sale

Avia Solutions Group - Airports Management OAO (100%)* Ramport AERO OAO (75%)*

Ramport SECURITY OOO (100%)***

Airport Infrastructure Management Segment

(3 companies)

4







ASG Group’s CAPEX



ASG Shareholders

5


6

2Q 2015 2Q 2014 Change (2Q 2015 vs 2Q

2014) EUR thousands (except margins & EPS & numbers of shares) 1HY 2015 1HY 2014

Change (2015 1HY vs 2014

1HY)

59 327 49 807 +19% Revenue from continuing operations 104 553 88 569 +18%

2 927 3 371 -13% EBITDA from continuing operations 4 866 6 165 -21%

4.9% 6.8% -1.9pp EBITDA margin (%) 4.7% 7.0% -2.3pp

1 386 1 500 -8% Operating profit from continuing operations 2 334 2 292 +2%

2.3% 3.0% -0.7pp Operating profit margin (%) 2.2% 2.6% -0.4pp

957 1 602 -40% Profit before income tax from continuing operations 2 231 2 093 +7%

809 1 436 -44% Net profit for the period from continuing operations 1 922 1 881 +2%

1.4% 2.9% -1.5pp Net profit or the period from continuing operations margin(%) 1.8% 2.1% -0.3pp

(424) - - Net profit for the period from discontinued operations (885) - -

385 1 436 -73% Net profit for the period 1 037 1 881 -45%

732 1 384 -47% Net profit attributable to equity holders 1 324 1 858 -29%

1.2% 2.8% -1.6pp Net profit attributable to equity holders margin (%) 1.3% 2.1% -0.8pp

0.104 0.228 -54% EPS from continuing operations (EUR) 0.253 0.307 -18%

(0.010) - - EPS from discontinued operations (EUR) (0.083) - -

0.094 0.228 -59% EPS (EUR) 0.170 0.307 -45%

3 266 1 424 +129% CAPEX (additions of PPE and intangible assets) 4 547 2 698 +69%

7 610 6 342 +20% Cash at the end of period 7 610 6 342 +20%

7 778 6 058 +28% Weighted average number of ordinary shares (thousand) 7 778 6 058 +28%







ASG Group’s CAPEX



ASG Shareholders

7

Increase by 18% in Group’s revenue from continuing operations (2015 2Q vs 2014 2Q)


8

31

41

42

41

35

40

42

43

39

50

50

45

45

59

2

3

2

1

2

1

1

1

2

-1

-3

1

1

-4 6 16 26 36 46 56

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

Revenue from continuing operations (mln EUR)

Net profit from continuing operations (mln EUR)

9



ASG Group’s Financial Results in 1HY2015


Sales/Operating Profit Breakdown by Business Segments


ASG Group’s CAPEX



ASG Shareholders

ASG Group’s Revenue by Business Segments

10

* - Group’s revenue from continuing operations

22

21

23

21

22

21

28

25

29

25

27

25

31

17

19

16

12

15

19

13

12

18

23

15

17

25

2

2

2

2

3

2

2

2

3

2

2

2

2

1

1

1

2Q 2012

3Q 2012

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

2Q 2014

3Q 2014

4Q 2014

1Q 2015

2Q 2015

MRO segment

GH & Fuelling segment

Crew training and staffing segment

Private jet charter and flights operationssegment

Group’s revenue breakdown by business segment was 53% MRO / 42% GH & Fuelling / 3% Training / 2% Business charter.

Sales / Operating Profit Breakdown by Business Segments, 2Q 2015

11

* Segments’ share in Sales and Operating Profit calculated based on total Sale/ Operating Profit value (including intercompany transactions)

Business Segments’ Revenue to external

customers (mln EUR)

Business Segment’s Operating Profitability

(mln EUR)

Tendencies of Business Segment’s

Operating Profitability (percent)

22

15

3 0

29

18

3

0

31

25

2 1

-

10

20

30

40

MRO segment GH & Fuelling segment Crew training and staffingsegment

Private jet charter and flightsoperations segment

2Q 20132Q 20142Q 2015

10%

14%

9% -1%

1% 2%

8%

3% 2%

+39% 2015 2Q

Vs 2014 2Q

1,8

-0,1

0,3 0,9

0,2 0,4 0,7

0,6

0,2

-0,2

0,8

1,8

12

Sales / Operating Profit Breakdown by Business Segments, 1HY 2015

Business Segments’ Revenue to external

customers (mln EUR)

Tendencies of Business Segment’s

Operating Profitability (percent)

Business Segment’s Operating Profitability

(mln EUR)

44

27

4 0

54

29

5 0

55

42

5 2

0

20

40

60

MRO segment GH & Fuelling segment Crew training and staffingsegment

Private jet charter and flightsoperations segment

1HY 2013

1HY 2014

1HY 2015

+45% 1HY 2015

Vs 1HY 2014

9%

4%

2% 1% 0%

3%

* Segments’ share in Sales and Operating Profit calculated based on total Sale/ Operating Profit value (including intercompany transactions)

12

4,1

-0,3

2,2

0,1 0,4 1,3

1,1

0,5

-0,3

1,7

3,7

1%

8%

11%

Operating Data by Business Segments, 2Q 2015 & 1HY 2015

2Q 2015 2Q 2014 Change,

% 1HY 2015 1HY 2014

Change, %

Number of SOLD man-hours (base maintenance)

146 441 84 353 +74% 273 165 178 020 +53%

Number of SOLD man-hours (engineering)

13 741 18 307 -25% 28 757 35 199 -18%

Number of SOLD man-hours (maintenance training)

2 365 2 601 -9% 5 955 6 511 -9%

Number of line stations (at the end of the period)

23 21 +10% 23 21 +10%

Number of aircrafts served 3 320 3 426 -3% 6 054 5 706 +6%

Number of passengers served 568 776 519 822 +9% 941 228 811 428 +16%

Volume of fuel sold (tonnes) 36 367 24 493 +48% 62 609 44 882 +39%

TRTO - Number of sold theoretical training hours

1 885 2 629 -28% 5 603 4 320 +30%

TRTO - Number of sold practical training (FFS) hours

3 172 4 428 -28% 5 499 6 883 -20%

13







ASG Group’s CAPEX



ASG Shareholders

14

Net debt = Borrowings – Cash and cash equivalents

Equity ratio = Total equity / Total assets

Gearing ratio = Net debt / (Net debt + Total equity)

Consolidated Balance Sheets (1)

30-06-2015 31-12-2014 30-06-2015 vs

31-12-2014 EUR thousand 30-06-2014 31-12-2013

30-06-2014 vs 31-12-2013

160 759 152 019 +6% Total assets 117 734 108 902 +8%

7 610 6 820 +12% Cash and cash equivalents 6 342 6 278 +1%

52 540 48 905 +7% Trade receivables 31 365 29 652 +6%

61 627 60 377 +2% Total equity 46 685 43 907 +6%

33 201 31 752 +5% Borrowings 33 333 31 950 +4%

25 591 24 932 +3% Net debt 26 991 25 672 +5%

1.4 1.4 - Liquidity risk 1.4 1.5 -0.1pp

38% 40% -2pp Equity ratio, % 40% 40% -

29% 29% - Gearing ratio, % 37% 40% -3pp

15


16

30-06-2015 31-12-2014 30-06-2015 vs

31-12-2014 EUR thousand

160 759 152 019 +6% Total assets 7 610 6 820 +12% Cash and cash equivalents

52 540 48 905 +7% Trade receivables

61 627 60 377 +2% Total equity

33 201 31 752 +5% Borrowings

25 591 24 932 +3% Net debt

1.4 1.4 - Liquidity risk

38% 40% -2pp Equity ratio, %

29% 29% - Gearing ratio, %

16%

1% 3%

33%

22%

1%

1%

0%

5% 18% Property, plant and equipment

Intangible assets

Deferred income tax assets

Trade and other receivables

Inventories

Amount due from customers for contract work

Prepaid income tax

Short-term bank deposits

Cash and cash equivalents

Assets of disposal group classified as held for sale


17

30-06-2015 31-12-2014 30-06-2015 vs 31-12-2014

EUR thousand

160 759 152 019 +6% Total assets

7 610 6 820 +12% Cash and cash equivalents


61 627 60 377 +2% Total equity

33 201 31 752 +5% Borrowings 25 591 24 932 +3% Net debt




37%

5%

46%

12%

Bank borrowings

Borrowings from other related parties

Bank overdraft

Finance lease liabilities

Other borrowings


18

30-06-2015 31-12-2014 30-06-2015 vs 31-12-2014

EUR thousand

160 759 152 019 +6% Total assets



61 627 60 377 +2% Total equity

33 201 31 752 +5% Borrowings 25 591 24 932 +3% Net debt




73%

24%

3%

Aircraft and Helicopter Maintenance, Repair andOverhaul (MRO)

Aircraft Ground Handling and Fuelling

Crew Training and Staffing


19

30-06-2015 31-12-2014 30-06-2015 vs 31-12-2014

EUR thousand

160 759 152 019 +6% Total assets



61 627 60 377 +2% Total equity 33 201 31 752 +5% Borrowings 25 591 24 932 +3% Net debt




4%

53%

31%

10%

Share capital

Share premium

Legal reserve

Merger reserve

Fair value reserve

Cumulative translations differences

Retained earnings

Non-controlling interests







ASG Group’s CAPEX



ASG Shareholders

20

ASG Group’s CAPEX

Capital Expenditure (CAPEX, EUR million)

21

2,0

3,0

5,8

1,3 1,4

0,8

1,3 1,3

3,3

-

1,0

2,0

3,0

4,0

5,0

6,0

2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015







ASG Group’s CAPEX



ASG Shareholders

22


Number of full-time employees at the end of period Breakdown of the Group’s employees by business segments (30-06-2015)

23

68%

22%

6% 1%

3%

MRO

GH

Training

Private Jet Charter &Flights Operations

Unallocated

919

939

929

951

972

1022

1051

1342

1342

1437

1499

1534

1595

1631

31-03-2012

30-06-2012

30-09-2012

31-12-2012

31-03-2013

30-06-2013

30-09-2013

31-12-2013

31-03-2014

30-06-2014

30-09-2014

31-12-2014

31-03-2015

30-06-2015

24







ASG Group’s CAPEX



ASG Shareholders


ASG (from 02-01-2015 till 11-08-2015)

02-01-2015: 21.91

High: 27.06

Low: 14.06

11-08-2015: 17.05

Prices in PLN

25

26







ASG Group’s CAPEX



ASG Shareholders

ASG Shareholders

On 3 March 2011 shares of the Avia Solutions Group AB were introduced to trading at Warsaw Stock Exchange (code: AVIASG). The authorised capital of the Company is divided into 7 777 777 ordinary shares with a par value of EUR 0.29 each.

1 Part of shares and votes

Amount of shares and votes

30-06-2015 31-12-2014 30-06-2015 31-12-2014

29.44% 29.44% ZIA Valda Cyprus Ltd. 2 290 045 2 290 045

10.71% 10.71% Vaidas Barakauskas 832 666 832 666

8.99% 8.99% Mesotania Holdings Ltd. 699 115 699 115

8.10% 10.10% VGE Investments Limited 630 216 785 216

7.57% 7.78% Harberin Enterprises Limited 589 082 605 227

35.19% 32.98% Other 2 736 653 2 565 508

100.00% 100.00% Total 7 777 777 6 058 333

Shareholders, holding more than 5 per cent of the share capital and votes, as on 30 June 2015:

27

29%

11% 9%

8%

8%

35%

ZIA Valda Cyprus Ltd.

Vaidas Barakauskas

Mesotania Holdings Ltd.

VGE Investments Limited

Harberin Enterprises Limited

Other

Thank You For Your Attention

www.AviaSG.com/InvestorRelations

http://www.aviasg.com/en/InvestorRelations

PRESENTATION FOR SHAREHOLDERS - Avia Solutions Group · PRESENTATION FOR SHAREHOLDERS CONSOLIDATED...

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