PRESENTATION FOR SHAREHOLDERS - AviaSG · ASG Group Development in 1HY 2016 Financial Parameters: 2...

PRESENTATION FOR SHAREHOLDERS CONSOLIDATED FINANCIAL INFORMATION FOR 1HY 2016

16 August, 2016

ASG Group’s Development in 1HY 2016

ASG Group’s Structure / Areas of Activity

ASG Group’s Financial Results in 1HY 2016

ASG Group’s Revenue, Net Profit

Sales / Operating Profit Breakdown by Business Segments

Consolidated Balance Sheet

ASG Group’s CAPEX

ASG Group’s Employees

ASG Share Price & Performance

ASG Shareholders

Content

1

ASG Group Development in 1HY 2016

Financial Parameters:

2

Increase in consolidated revenue from continuing operations by EUR 31 million, by 30% (2016 1HY vs 2015 1HY) primarily due to: significant growth increase in demand for helicopter MRO services; sustainable growth increase in demand for spare parts and consumables, line maintenance

services; increased revenue from aircraft fuel sales; development of private jet charter, flight and tour operations segment;

EUR 5 082 thousand (increase of 118% comparing to 1HY 2015) of operating profit;

EUR 3 922 thousand (increase of 196% comparing to 1HY 2015) of profit attributable to equity holders of the parents;

3







ASG Group’s CAPEX



ASG Shareholders


MRO Segment (12 companies)

GH & Fuelling Segment (7 companies)

Training Segment (2 companies)

Private Jet Charter, Flight and Tour Operations

(3 companies)

FL Technics UAB (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%)

Helisota UAB (100%) Kauno aviacijos gamykla UAB (100%) FL Technics Asia Co. Ltd. (99.997%) Avia Technics Dirgantara PT. (25%)*

BAA Training UAB (100%) AviationCV.com UAB (100%)

Baltic Ground Services UAB (100%) Baltic Ground Services Sp.z.o.o (100%) Baltic Ground Services TOV UA (50%)

Baltic Ground Services RU OOO (100%) Baltic Ground Services EE OU (100%) Baltic Ground Services LV SIA (51%)

Baltic Ground Services CZ s.r.o. (100%)

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

KIDY Tour UAB (100%)

* - the Group holds control over an investee

4

5







ASG Group’s CAPEX



ASG Shareholders


6

2Q 2016 2Q 2015 Change (2Q 2016 vs 2Q

2015) EUR thousands (except margins & EPS & numbers of shares) 1HY 2016 1HY 2015

Change (2016 1HY vs 2015

1HY)

78 057 59 327 +32% Revenue from continuing operations 135 524 104 553 +30%

5 454 2 974 +83% EBITDA from continuing operations 8 146 5 138 59%

6.99% 5.01% +1.98 p.p. EBITDA margin (%) 6.01% 4.91% +1.1 p.p.

3 789 1 386 +173% Operating profit from continuing operations 5 082 2 334 +118%

4.85% 2.34% +2.51 p.p. Operating profit margin (%) 3.75% 2.23% +1.52 p.p.

3 738 957 +291% Profit before income tax from continuing operations 4 452 2 231 +100%

3 190 809 +294% Net profit for the period from continuing operations 3 749 1 922 +95%

4.09% 1.36% +2.73 p.p. Net profit or the period from continuing operations margin(%) 2.77% 1.84% +0.93 p.p.

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

3 190 385 +729% Net profit for the period 3 749 1 037 +262%

3 231 732 +341% Net profit attributable to equity holders 3 922 1 324 +196%

4.14% 1.23% +2.91 p.p. Net profit attributable to equity holders margin (%) 2.89% 1.27% +1.62 p.p.

0.415 0.104 +299% EPS from continuing operations (EUR) 0.504 0.253 +99%

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

0.415 0.094 +341% EPS (EUR) 0.504 0.170 +196%

950 3 266 -71% CAPEX (additions of PPE and intangible assets) 2 116 4 547 -53%

7 983 7 610 +5% Cash at the end of period 7 983 7 610 +5%

7 778 7 778 - Weighted average number of ordinary shares (thousand) 7 778 7 778 -







ASG Group’s CAPEX



ASG Shareholders

7

Increase by 30% in Group’s revenue from continuing operations (2016 1HY vs 2015 1HY);

Increase by 32% in Group’s revenue from continuing operations (2016 2Q vs 2015 2Q).

ASG Group’s Revenue

8

31

41

42

41

35

40

42

43

39

50

50

45

45

59

59

66

57

78

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

3Q 2015

4Q 2015

1Q 2016

2Q 2016

9





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

Group’s revenue breakdown in 2Q 2016 by business segment was 47% MRO / 45% GH & Fuelling / 4% Training / 3% Business charter.

18

22

21

23

21

22

21

28

25

29

25

27

25

31

24

40

34

37

10

17

19

16

12

15

19

13

12

18

23

15

17

25

30

22

19

35

3

2

2

2

2

3

2

2

2

3

2

2

2

2

2

3

3

3

-

-

-

-

-

-

-

-

-

-

-

1

1

1

2

1

1

2

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

3Q 2015

4Q 2015

1Q 2016

2Q 2016

MRO segment

GH & Fuelling segment

Crew training and staffing segment

Private jet charter, flight and touroperations segment

Sales / Operating Profit Breakdown by Business Segments, 2Q 2016

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)

+36% 2016 1Q

vs 2015 1Q

0,9 0,2 0,4 0,7 0,6 0,2

3,4

0,9 0,1

3% 2%

9%

1%

2% 3%

14% 9%

4%

29

18

3 -

31

25

2 1

37 35

3 2

MRO segment GH & Fuelling segment Crew training and staffingsegment

Private jet charter and flightsoperations segment

2Q 20142Q 20152Q 2016

Sales / Operating Profit Breakdown by Business Segments, 1HY 2016

12

* 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)

+36% 2016 1Q

vs 2015 1Q

2,2

0,1 0,4 1,3 1,1

0,5

4,5

1,4 0,3

4% 2%

6%

0%

3% 3% 8%

11%

5%

54

29

5 -

55

42

5 2

72

54

6 3

MRO segment GH & Fuelling segment Crew training and staffingsegment

Private jet charter andflights operations segment

1HY 2014

1HY 2015

1HY 2016

+29% 1HY 2016

vs 1HY 2015

Operating Data by Business Segments, 2Q 2016 & 1HY 2016

13

2Q 2016 2Q 2015 Change,

% 1HY 2016 1HY 2015

Change, %

Number of SOLD man-hours (base maintenance)

115 326 146 441 -21.2% 241 755 273 165 -11.5%

Number of SOLD man-hours (engineering)

17 877 13 741 +30.1% 30 481 28 757 +6.0%

Number of SOLD man-hours (maintenance training)

3 082 2 365 +30.3% 5 192 5 955 -12.8%

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

25 23 +2 25 23 +2

Number of aircraft served 2 924 3 320 -11.9% 5 388 6 054 -11.0%

Number of passengers served

580 266 568 776 +2.0% 979 218 941 228 +4.0%

Volume of fuel sold (tonnes) 44 772 36 367 +23.1% 83 742 62 609 +33.8%

TRTO - Number of sold theoretical training hours

2 742 1 885 +45.5% 5 494 5 603 -1.9%

TRTO - Number of sold practical training (FFS) hours

4 946 3 172 +55.9% 10 648 5 499 +93.6%







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 Sheet (1)

30-06-2016 31-12-2015 30-06-2016 vs

31-12-2015 EUR thousand

135 573 119 988 +13% Total assets

7 983 5 613 +42% Cash and cash equivalents

55 636 43 017 +29% Trade receivables

55 106 51 138 +8% Total equity

29 330 27 728 +6% Borrowings

21 347 22 115 -3% Net debt

1.3 1.3 - Liquidity risk

41% 42% -1 p.p. Equity ratio, %

28% 30% -2 p.p. Gearing ratio, %

15


16

30-06-2016 31-12-2015 31-06-2016 vs


135 573 119 988 +13% Total assets 7 983 5 613 +42% Cash and cash equivalents


55 106 51 138 +8% Total equity

29 330 27 728 +6% Borrowings

21 347 22 115 -3% Net debt




21%

2% 4%

41%

22% 4%

0% 0%

6%

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


17

30-06-2016 31-12-2015 31-06-2016 vs


135 573 119 988 +13% Total assets



55 106 51 138 +8% Total equity

29 330 27 728 +6% Borrowings 21 347 22 115 -3% Net debt




23%

1%

60%

16%

Bank borrowings

Borrowings from other related parties

Bank overdraft

Finance lease liabilities

Other borrowings


18

30-06-2016 31-12-2015 31-06-2016 vs


135 573 119 988 +13% Total assets



55 106 51 138 +8% Total equity

29 330 27 728 +6% Borrowings 21 347 22 115 -3% Net debt




71%

25%

4%

Aircraft and Helicopter Maintenance, Repair andOverhaul (MRO)

Aircraft Ground Handling and Fuelling

Crew Training and Staffing


19

30-06-2016 31-12-2015 31-06-2016 vs


135 573 119 988 +13% Total assets



55 106 51 138 +8% Total equity 29 330 27 728 +6% Borrowings 21 347 22 115 -3% Net debt




4%

59%

-1%

36%

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

1,6 2,0

3,0

5,8

1,3 1,4

0,8

1,3 1,3

3,3

4,2

0,6 1,2

1,0

-

1,0

2,0

3,0

4,0

5,0

6,0

1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016







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 (30-06-2016)

23

63%

25%

7% 2%

3%

MRO

GH

Training

Private Jet Charter,Flight and Tour

Unallocated

939

929

951

972

1022

1051

1342

1342

1437

1499

1534

1595

1631

1692

1674

1712

1795

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

30-09-2015

31-12-2015

31-03-2016

30-06-2016

24







ASG Group’s CAPEX



ASG Shareholders


ASG (from 04-01-2016 till 12-08-2016)

04-01-2016: 15.58

High: 16.50

Low: 12.15

12-08-2016: 15.01

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

16-08-2016 31-12-2015 16-08-2016 31-12-2015

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

10.71% 10.71% Vaidas Barakauskas 832 666 832 666

10.10% 10.10% VGE Investments Limited 785 216 785 216

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

7.78% 7.78% Harberin Enterprises Limited 605 227 605 227

5.01% 5.01% Nationale-Nederlanden Otwarty Fundusz Emerytalny 390 000 390 000

27.97% 27.97% Other 2 175 508 2 175 508

100.00% 100.00% Total 7 777 777 7 777 777

Shareholders, holding more than 5 per cent of the share capital and votes, as on 16 August 2016:

27

29%

11% 10%

9%

8%

5%

28%

ZIA Valda Cyprus Ltd.

Vaidas Barakauskas

VGE Investments Limited

Mesotania Holdings Ltd.

Harberin Enterprises Limited

Nationale-Nederlanden Otwarty Fundusz Emerytalny

Other

Thank You For Your Attention

www.AviaSG.com/InvestorRelations

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

PRESENTATION FOR SHAREHOLDERS - AviaSG · ASG Group Development in 1HY 2016 Financial Parameters: 2...

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