CORPORATE PRESETATION Jakarta, May 2016

CORPORATE PRESETATION Jakarta, May 2016

CORPORATE
PRESENTATION
Jakarta, May 2016
MANAGEMENT
Appointed on AGMS – April 15, 2016
SAME AS PREVIOUS
NEW MEMBER
2
MANAGEMENT - PROFILE
AGUS TONI SOETIRTO
LINGGARSARI SUHARSO
PLACE/DATE OF BIRTH:
PLACE/DATE OF BIRTH:
YOGYAKARTA, 18 AUGUST 1958
JAKARTA, 18 AUGUST 1961
WORK EXPERIENCE:
WORK EXPERIENCE:
•
DIRECTOR OF CONSUMER BUSINESS,
BANK RAKYAT INDONESIA
•
MANAGING PARTNER, PDA CONSULTANT
HELMI IMAM SATRIYONO
SIGIT MUHARTONO
PLACE/DATE OF BIRTH:
PLACE/DATE OF BIRTH:
SEMARANG, 25 MAY 1968
MALANG, 14 DECEMBER 1962
WORK EXPERIENCE:
WORK EXPERIENCE:
•
CHIEF EXECUTIVE, BANK MANDIRI
(EUROPE) LIMITED
•
PRESIDENT DIRECTOR, PT CENTRAL
PERTIWI BAHARI
3
MANAGEMENT - PROFILE
M. ARIF WIBOWO
NICODEMUS P. LAMPE
PLACE/DATE OF BIRTH:
PLACE/DATE OF BIRTH:
PURWOKERTO, 19 SEPTEMBER 1966
BANJARMASIN, 19 JUNE 1960
WORK EXPERIENCE:
WORK EXPERIENCE:
•
PRESIDENT DIRECTOR PT CITILINK
INDONESIA
•
VP DOMESTIC REGION 2, GARUDA
INDONESIA
IWAN JOENIARTO
NOVIANTO HERUPRATOMO
PLACE/DATE OF BIRTH:
PLACE/DATE OF BIRTH:
SURABAYA, 16 JUNE 1968
MALANG, 25 NOVEMBER 1959
WORK EXPERIENCE:
WORK EXPERIENCE:
•
EVP LINE OPERATION, PT GMF AERO
ASIA
•
VP CORP. QUALITY, SAFETY &
ENVIRONMENT, GARUDA INDONESIA
4
•
THE TRANSFORMATION
•
1954
The inaugural flight of
Garuda Indonesia
Garuda Indonesia
recognized as 4 Star
Airline and The Most
Improved Airline by
Skytrax
2008
Ranked among
Top 30 Global Airlines
Taken over by the
Government
•
Garuda Indonesia
receives IOSA
Relaunch of Citilink
•
1949
2010
2011
Garuda Indonesia
becomes a public
company
Garuda Indonesiajoins the
SkyTeam Global Alliance
Garuda Indonesia receives
'The World's Best Cabin
Crew' and '5 Star Airline'
from Skytrax
•
•
200
140
150
Fleets
Passenger
100
49
50
48
54
70
89
87
169
187
50,000,000
40,000,000
106
30,000,000
20,000,000
10,000,000
0
-
2006
Pax Carried (mio)
ASK (bio)
RPK (bio)
SLF (%)
Garuda Indonesia receives
'The World's Best Cabin
Crew' for two consecutive
years
Sukuk issuance amounted
USD 500 mio
2014
1990s
2015
2007
2008
2009
2010
2011
2012
2013
2014
2015
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
∆
CAGR
a
9.0
18.1
13.0
72.1
b
9.6
18.6
14.4
77.4
c
10.2
20.3
15.5
76.4
d
10.9
21.7
15.9
73.1
e
12.5
25.8
18.5
71.7
f
17.1
32.5
24.4
75.2
g
20.4
36
27.3
75.9
h
25
43.1
31.9
74.1
i
29.1
50.2
36.0
71.8
j
33.0
51.9
40.0
77.2
i-j
13.1%
3.4%
11.3%
7.6%
a-j
15.5%
12.4%
13.3%
0.8%
5
STRONG SUPPORT FROM THE INDONESIAN GOVERNMENT
SHAREHOLDER
GOVERNMENT COMMITMENT TO MAINTAIN A MAJORITY STAKE
PT TRANS AIRWAYS
24.6%
Capital Injection: Government injected IDR3.9 (US$294.1m)
2001 through conversion of Garuda's outstanding debt to the
Government
PUBLIC
14.9%
2006
Capital Injection: Injected IDR500bn (US$37.7m) from 2006
State Budget
2007
Capital Injection
Injected IDR500bn (US$37.7m) from 2007 State Budget
2011
Initial Public Offering: Raised IDR4.8tr (US$362m) through
IPO Government stake diluted to c.70%
2014
Rights Issue: Raised IDR1.5tr (US$113m) Government stake
diluted to c.60%
GOVERNMENT OF INDONESIA
60.5%
STRONG BACKING FROM GOVERNTMENT
•
•
•
•
•
•
•
Significant strategic importance to the Government of Indonesia
Flag carrier of Indonesia
Importance of connecting Indonesia’s archipelago
Exclusivity on all Government travel
Performance actively monitored by the Government of
Indonesia
Only Indonesian airline contracted by Indonesia’s Ministry of
Religious Affairs for Hajj travel
Support for the re-investment of income for business expansion
2015 Sukuk Issuance: Re-profiling debt amounted USD 500 Million
6
STRONG ECONOMIC FUNDAMENTAL & DEMAND
TOP 3 HIGHEST GROWTH GDP GROWTH
TRANSPORTATION GROWTH
AMONG G-20 COUNTRIES IN 2016
ARCHIPELAGO COUNTRY VS. MASSIVE LAND COUNTRY
Source: IMF World Economic Outlook, April 2016
Source: Bloomberg and Transportation Ministry, 2015
4.9
Air
POPULATION (in million)
Indonesia
Philippines
Vietnam
Thailand
Myanmar
Malaysia
Cambodia
Lao P.D.R.
Singapore
Brunei Darussalam
Source: IMF Economic Outlook, April 2016
2012
2013
2014
2015 2016F
245.43
96.51
88.76
67.96
50.54
29.52
14.86
6.65
5.31
0.40
248.82
98.19
89.69
68.30
50.98
29.92
15.09
6.77
5.40
0.41
252.17
100.15
90.73
68.66
51.42
30.60
15.31
6.90
5.47
0.41
255.46
102.15
91.68
68.84
51.85
31.00
15.54
7.03
5.54
0.42
258.80
104.20
92.64
68.98
52.25
31.52
15.78
7.16
5.58
0.42
Sea
Railway
INDONESIA
Air
Sea
Railway
Sea
Railway
Highway
CHINA
2004
2015
CAGR
34
13
150
104
15
326
11%
2%
7%
Passenger in million
Air
2004
2015
CAGR
Air
121
400
Sea
181
276
Railway 1,073 2,352
Highway 16,289 42,969
11%
4%
7%
9%
Passenger in million
7
BUSINESS AIRLINE HAS BIG ROOM TO GROW
COUNTRY
SINGAPORE
HONGKONG
MALAYSIA
JAPAN
THAILAND
INDONESIA
POPULATION
AIR TRAFFIC
AIR TRAFFIC/POPULATION
5.5
30.6
566%
7.3
34.2
476%
31.1
46.3
149%
127.1
105.9
83%
68.7
40.7
61%
255.5
103.8
41%
Source: Data Internal, Bloomberg, IMF, and www.worldbank.org, Full Year 2015
Numbers are serve in million
8
HIGHLIGHTS – Q1
EBITDAR MARGIN: 35.4%
PASSENGER CARRIED
5.8% YoY
1.8% YoY
TOTAL REVENUES: US$0.86 billion
SEAT LOAD FACTOR (SLF): 69.7%
-7.7% YoY
-5.4% YoY
UNSCHEDULED FLIGHT REVENUES
COST PER ASK (CASK)
-2.4% YoY
-13.6% YoY
OPERATING COST
ON TIME PERFORMANCE (OTP): 91.6%
-6.3% YoY
2.5 percentage points YoY
NET PROFIT: US$0.8 million
62 DOMESTIC DESTINATIONS
17 INTERNATIONAL DESTINATIONS
-93.3% YoY
9
MILESTONES 2016
— Garuda Indonesia and POLRI
signing cooperation on
charter flight and cargo.
— Garuda Indonesia
commemorate 50 years fly to
Singapore.
— Garuda Indonesia received 2
new aircraft Airbus A330-300
with the first “Super Diamond
Seat Business Class” and 1
new aircraft Boeing 777300ER
— Garuda Indonesia Group and
Airbus to Expand
Longstanding Relationship.
— Garuda Indonesia Attains The
Second Time as “5-star
Airline”.
JANUARY
FEBRUARY
— Garuda Indonesia appointed
Mr. Juliandra Nurtjahjo as the
new President & CEO of GMF
AeroAsia (GMF-AA).
— Garuda Indonesia received
“Indonesia Green Company”
Award for 3 consecutive
years.
— Garuda Indonesia moved the
UK Flight destination from
London Gatwick to London
Heathrow.
MARCH
— Garuda Indonesia held Annual
General Shareholders Meeting
2016 and Mr. M. Arif Wibowo
continues to lead Garuda
Indonesia with new formations
of Board of Directors.
— Maximized the Middle East
especially for Umra market,
Garuda Indonesia opens
new route Jakarta –
Madinah 3 times/week.
APRIL
10
AWARDS & CERTIFICATIONS 2016
TOTAL
:9
•
5 Star Airline Certificate Renewal
Domestic
International
:6
:3
•
•
•
•
•
•
:2
:3
:1
:2
:1
Indonesia Human Capital Award 2016
(IHCA 2016) – The Best BUMN, The
Big 5 Human Capital, The Big 5
Human Capital Director (Category
Human Capital Leadership)
•
Indonesia Green Company
•
United Nations World Tourism
Organization (UNWTO) Award for
Innovation in Enterprises – First
Runner-Up
•
Outstanding Food Service by a Carrier
Business
Human Capital
Safety
Services
Communication
11
NETWORK
In Q1-2016, Garuda Indonesia optimized
the domestic networks by opening 2 new
destinations. By the end of Q1-2016,
Garuda Indonesia (main brand) has
62 destinations.
New domestic destinations in Q1-2016:
• Sintang (SQG), and
• Silangit (DTB)
For international networks, in Q1-2016
Garuda Indonesia moved the UK flight
destination from London Gatwick (LGW)
to London Heathrow (LHR). By the end of
Q1-2016, Garuda Indonesia’s
international destinations remains
17 destinations.
12
SHARE DISTRIBUTIONS
DOMESTIC (95.18%)
60.51%
GOVERNMENT OF INDONESIA
15,653,128,000 SHARES
24.63%
TRANS AIRWAYS
Source: Company Data, as 31 March 2015
INTERNATIONAL (4.82%)
4.80%
INSTITUTIONAL (< 5%)
1,241,769,773 SHARES
0.02%
RETAIL
6,370,697,372 SHARES
5,698,070 SHARES
5.94%
REAL FREE FLOAT
OTHER INSTITUTIONAL (< 5%)
1,537,074,509 SHARES
3.80%
RETAIL
981,834,539 SHARES
0.30%
EMPLOYEE
78,724,370 SHARES
Excl. Government of Indonesia and
Trans Airways ownership.
67.56%
DOMESTIC INVESTORS
2,597,633,418 SHARES
32.44%
INTERNATIONAL INVESTORS
1,247,467,843 SHARES
13
SHARE PERFORMANCE
AVERAGE LIQUIDITY
(in billion IDR)
AVERAGE VOLUME
(in million)
AVERAGE CLOSED PRICE
(IDR)
MARKET CAP
(in trillion IDR)
YTD Apr 2016
2015
YTD Apr 2016
2015
YTD Apr 2016
2015
YTD Apr 2016
2015
17.64
5.45
40.09
13.48
419
440
11.46
7.99
— GIAA recently was added to MSCI (Small Caps Index), KOMPAS100, and SRI-KEHATI Index.
14
MARKET SHARE GARUDA INDONESIA GROUP
DOMESTIC
Q1-2016
31%
Q1-2015
48%
39%
21%
40%
Garuda Indonesia Group
Lion Group
21%
Others
Garuda domestic market share group (including Citilink). These market share were calculated based on all Garuda Indonesia’s routes.
INTERNATIONAL
Q1-2016
Q1-2015
26%
74%
28%
72%
Garuda Indonesia
Others
Garuda main brand international market share. These market share were calculated based on all Garuda Indonesia’s routes
Source: Company Data
15
REGIONAL AIRLINES PERFORMANCE
ASK GROWTH (%)
RPK GROWTH (%)
Q1-2015 VS Q1-2016
Q1-2015 VS Q1-2016
15.9
CHINA EASTERN
10.3
GARUDA INDONESIA
7.9
6.5
6.1
ASIA PASIFIC
CATHAY PACIFIC AIRWAYS
ALL NIPPON AIRWAYS
16.1
CHINA EASTERN
8.3
7.8
6.4
5.5
ASIA PASIFIC
ALL NIPPON AIRWAYS
SINGAPORE AIRLINES
CATHAY PACIFIC AIRWAYS
(3.0)
THAI AIRWAYS (3.2)
SINGAPORE AIRLINES
2.3
GARUDA INDONESIA
THAI AIRWAYS
(0.6)
PASSENGER CARRIED GROWTH (%)
PASSENGER CARRIED GROWTH (%)
Q1-2015 VS Q1-2016
Q1-2015 VS Q1-2016
11.2
8.3
7.5
CHINA EASTERN
SINGAPORE AIRLINES
ASIA PASIFIC
5.3
CATHAY PACIFIC AIRWAYS
1.8
GARUDA INDONESIA
0.4
ALL NIPPON AIRWAYS
THAI AIRWAYS
(2.1)
11.2
10.0
NORTH EAST
OCEANIA
7.5
ASIA PASIFIC
3.7
SOUTH ASIA
1.8
SOUTH EAST
CENTRAL
(2.8)
Source: Airline Website and AAPA
16
OPERATIONAL PERFORMANCE
17
NUMBER OF FLEET
Dec-15 Mar-16
Average Age (Year)
5.0
4.5
2013
2014
4.3
5.2
4.6
2015 Q1-2016 2016E
Fleets (per December 2015)
In
• B777-300ER
• A330-300
• ATR 72-600
Total
Out
Total
Fleets (per March 2016)
187
1
2
1
4
0
192
Narrow Body
• B737-300/500
• B737-800 NG
• CRJ - 1000
• ATR 72-600
Total Narrow Body
Wide Body
• B747-400
• B777-300 ER
• A330-200
• A330-300
Total Wide Body
Garuda Indonesia
Citilink
• B737-300
• B737-500
• A320-200
Citilink
Total Garuda Indonesia Group
Lease Owned Dec-16
81
18
11
110
81
18
12
111
81
12
12
105
6
6
75
18
15
108
2
9
9
13
33
143
2
10
9
15
36
147
10
9
9
28
133
2
6
8
14
2
10
7
17
36
144
5
3
36
44
187
5
3
37
45
192
36
36
169
5
3
8
22
5
3
45
53
197
18
GROUP OPERATIONAL PERFORMANCE
Q1-2015
Q1-2016
∆%
09:15
08:33
-00:42
Frequencies
59,378
65,105
On Time Performance - OTP (%)
89.1%
91.6%
12,927,844
14,255,332
0.55
0.38
(30.9)
Fuel Burn/ATK
239.9
247.3
3.1
Fuel Burn/Blockhours
3,678
3,619
(1.60)
Passenger Carried
7,601,395
7,740,349
1.8
RPK ('000)
9,719,230
9,945,928
2.3 The passenger yield decreased
Seat Load Factor (%)
75.2
69.8
Passenger Yield (USc)
7.6
6.8
87,300,493
90,216,556
3.3
CASK (Usc)
6.5
5.6
(13.6)
CASK excl. Fuel (Usc)
4.5
4.3
(5.3)
Aircraft Utilization (Hours)
OPERATIONAL
ASK ('000)
Average Fuel Price (USD/L)
EFFICIENCY
PASSENGER
&
CARGO
Cargo/Mail Uplifted (Ton)
FINANCIAL
9.6 The aircraft utilization has slight
decreased 42 minutes from 09:15 to
2.5pp 08:33 per day, most of it contributed
10.3 by additional aircrafts.
10.7% due to price war in domestic
(5.4) and international amidst the lowest
(10.7) season of quarter.
19
DOMESTIC & INTERNATIONAL (MAIN BRAND)
DOMESTIC
INTERNATIONAL
Passenger Carried
Frequency
ASK ('000)
RPK ('000)
Seat Load Factor (%)
Passenger Yield (Usc)
CASK (Usc)
CASK excl. Fuel (Usc)
Passenger Carried
Frequency
ASK ('000)
RPK ('000)
Seat Load Factor (%)
Passenger Yield (Usc)
CASK (Usc)
CASK excl. Fuel (Usc)
Q1-2015
Q1-2016
∆%
4,479,923
38,117
5,334,403
3,945,135
74.0
8.7
7.2
5.1
1,064,578
7,061
5,611,202
4,194,190
74.8
7.4
6.3
4.4
4,300,736
40,356
5,468,588
3,685,045
67.4
8.3
6.7
5.2
1,018,293
6,944
6,248,259
4,412,212
70.6
6.5
5.1
4.1
(4.0)
5.9
2.5
(6.6)
(6.57)
(4.8)
(7.5)
0.8
(4.3)
(1.7)
11.4
5.2
(4.13)
(11.6)
(18.0)
(8.4)
20
GARUDA INDONESIA (MAIN BRAND) & CITILINK
GARUDA INDONESIA
(MAIN BRAND)
CITILINK
Passenger Carried
Frequency
ASK ('000)
RPK ('000)
Seat Load Factor (%)
Passenger Yield (Usc)
CASK (Usc)
CASK excl. Fuel (Usc)
Passenger Carried
Frequency
ASK ('000)
RPK ('000)
Seat Load Factor (%)
Passenger Yield (Usc)
CASK (Usc)
CASK excl. Fuel (Usc)
Q1-2015
Q1-2016
∆%
5,544,501
45,178
10,945,605
8,139,325
74.4
8.0
6.7
4.8
2,056,894
14,200
1,982,239
1,579,905
79.7
5.8
5.1
3.3
5,319,029
47,300
11,720,503
8,101,411
69.1
7.3
5.9
4.6
2,421,320
17,805
2,538,485
1,848,671
72.8
4.7
4.5
3.1
(4.1)
4.7
7.1
(0.5)
(7.0)
(8.7)
(13.0)
(4.1)
17.7
25.4
28.1
17.0
(8.6)
(19.1)
(13.1)
(7.6)
21
FINANCIAL PERFORMANCE
22
SUMMARY OF CONSOLIDATED INCOME STATEMENT
OPERATING
REVENUE
OPERATING
EXPENSES
PROFIT (LOSS)
Revenue
(Million USD)
Q1-2015
Q1-2016
∆ % YoY
EBITDAR
286.5
303.0
5.8
Total revenues
927.3
856.0
(7.7)
Q1-2016
Fuel
264.2
189.8
(28.2)
Q1-2015
Aircraft rental and charter
211.8
246.9
16.6
Others
420.6
403.4
(4.1)
Total expenses
896.6
840.1
(6.3)
EBIT
30.7
15.8
(48.4)
EBT
15.4
(2.7)
(117.4)
Net income
12.4
0.8
(93.3)
30.9%
35.4%
(in million USD)
EBITDAR MARGIN
856.0
927.3
Net Income
(Million USD)
Q1-2016
Q1-2015
0.8
12.4
23
CONSOLIDATED OPERATING REVENUE
In Million USD
% Change
-5.8%
-2.4%
Scheduled
Service
Non-Scheduled
Service
0.5%
927.3
SCHEDULED AIRLINE DECREASE
Others
856.0
-7.7%
Q1-15
Q1-16
Operating Revenue
Operating Revenue
Operating Revenue
PoT*
Schedule Airline
Non Schedule Airline
Others
87.9%
2.0%
10.2%
*PoT: Percentage of total
• Lower yield due to pricing competition in
domestic and international market.
• Impact from the opening/re-route of new
domestic & international destination such as:
Denpasar (DPS) – Shanghai (PVG), re-route
Jakarta (CGK) – London Gatwick (LGW) to London
Heathrow (LHR), and Jakarta (CGK) – Silangit
(DTB) – Pinangsori (FLZ) whereas naturally the
new routes and destination need several times to
be matured.
NON SCHEDULE AIRLINE DECREASE
• Q1 is the lowest season through the year
24
CONSOLIDATED OPERATING EXPENSES
In Million USD
% Change
3.9%
1.4%
-8.3%
-1.1%
0.5%
-1.1%
Maintenance
User
Charge
Ticket &
Sales
-0.6%
-1.0%
Passenger
Service
G&A
896.6
Fuel
Rental
Others
840.1
-6.3%
Q1-15
Q1-16
Operating Expenses
Operating Expenses
Expenses (USD, Mio)
Fuel
Rental
Maintenance
User charge
Ticketing & sales
Passenger services
General administration
Others
Total
Q1-2015
264.2
211.8
94.5
74.0
75.2
68.9
57.6
50.5
896.6
Q1-2016
189.8
246.9
84.6
78.4
65.2
63.4
48.6
63.2
840.1
+/(74.4)
35.1
(9.9)
4.4
(10.0)
(5.5)
(9.0)
12.7
(56.5)
%
(8.3)
3.9
(1.1)
0.5
(1.1)
(0.6)
(1.0)
1.4
(6.3)
PoT*
22.6%
29.4%
10.1%
9.3%
7.8%
7.5%
5.8%
7.5%
100.0%
25
SUMMARY OF CONSOLIDATED BALANCE SHEET
(in million USD) - Unadited
ASSET
LIABILITY
EQUITY
FY2015
Q1-2016
∆ % YoY
Current assets
1,007.8
1,027.5
1.95
Non current assets
2,302.2
2,365.0
2.73
Total Assets
3,310.0
3,392.5
2.49
Current liabilities
1,195.8
1,245.8
4.18
Non current liabilities
1,163.4
1,173.6
0.88
Total liabilities
2,359.3
2,419.4
2.55
Total equities
950.72
973.0
2.34
Total liabilities & Equities
3,310.0
3,392.5
2.49
6.4x
6.6x
Lease Adj. Net Debt / EBITDAR
26
SUMMARY OF CONSOLIDATED CASH FLOW
Beginning cash
Cash from operating activities
Cash from investing activities
Cash from financing activities
Net increase (decrease) in cash
Effect of foreign exchange rate changes
Ending cash
Q1-2015
434.3
(26.0)
(67.3)
128.5
35.2
(4.6)
464.9
Q1-2016
520.0
(32.5)
(63.2)
58.1
(37.6)
13.0
495.4
∆ % YoY
19.7
(24.7)
(6.0)
(54.7)
(206.8)
382.3
6.6
OPERATING
INVESTING
FINANCING
• Cash receipts from customers
US$880.8 million
• Cash payments to suppliers US$771.3
million
• Payments of interest and financial
expenses US$11.6 million
• Payments PDP & Maintenance Reserve
Fund: US$99.9 million
• Security Deposit Payment: US$5.9
million
• Refund of PDP and Maintenance
Reserve Fund: US$49.0 million
• Receipts of Security Deposit: US$1.0
million
• Proceed of long term loan, bank loan,
& financial institution and sukuk
US$350.2 million
• Payment of long term loan, bank loan
& financial institution: US$289.7
million
27
GROUP CASH AND NET GEARING
1,600
FINANCIAL DEBT STRUCTURE
1.05
8%
1,400
1.00
1.00
1,200
53%
Short-term Loan
0.95
Long-term Loan
1,000
Lease
800
0.90
0.89
600
39%
0.85
400
0.85
0.80
200
434 1,170 864
520 1,355 934
COVENANT
495 1,446 955
-
0.75
FY14
Cash
FY15
Financial Debt
Q1-2016
Equity
Net Gearing
• Minimum Cash 5%
• Max. 2.5x of Debt to Equity Ratio
• Min. Capital US$800 million
28
SUBSIDIARIES
29
SUBSIDIARIES
Aerowisata (in billion IDR)
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
Citilink (in thousand USD)
Q1-2015
731.0
13.1
0.5
30.8
FY2015
2,926
923
2,003
Q1-2016
733.8
24.4
8.2
44.5
Q1-2016
2,844
833
2,011
∆ % YoY
0.4
86.3
1540.0
44.5
∆%
(2.8)
(9.7)
0.4
Gapura Angkasa (in billion IDR)
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
Operating Revenue
Operating Income
Net Income
EBITDAR
Asset
Liability
Equity
Q1-2015
107,223
2,712
862
35.2
FY2015
257,400
239,847
17,554
Q1-2016
102,190
(15,127)
(12,772)
22.9
Q1-2016
259,532
254,750
4,782
∆ % YoY
(4.7)
(657.8)
(1,581.7)
(35.1)
∆%
0.8
6.2
(72.8)
Q1-2015
Q1-2016
∆ % YoY
65,960
7,171
4,595
9,255
81,613
17,239
11,990
20,028
23.7
140.4
160.9
116.4
FY2015
Q1-2016
∆%
257,208
165,588
91,619
312,385
178,288
134,097
21.5
7.7
46.4
GMF Aero Asia (in thousand USD)
Q1-2015
Q1-2016
∆ % YoY
324.7
47.8
3.9
64.5
350.3
(5.8)
(3.8)
14.3
7.9
(112.0)
(197.5)
(77.8)
FY2015
Q1-2016
∆%
1,005
605
400
1,107
711
396
10.1
17.5
(0.9)
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
30
SUBSIDIARIES
Sabre TN (in thousand USD)
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
Asyst (in thousand USD)
Q1-2015
Q1-2016
∆ % YoY
780.8
105.2
83.9
154.5
1,052.5
346.5
272.8
373.3
34.8
229.4
225.1
141.6
FY2015
Q1-2016
∆%
7,743
1,155
6,588
8,026
1,159
6,867
3.7
0.4
4.2
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
Q1-2015
Q1-2016
∆ % YoY
2,093.0
(1,908.9)
(1,350.8)
(1,233.7)
3,164.5
(277.4)
(644.5)
263.1
51.2
85.5
52.3
121.3
FY2015
Q1-2016
∆%
26,577.2
16,243.6
10,333.6
29,931.0
18,731.4
11,199.6
12.6
15.3
8.4
GIH France S.A.S (in thousand USD)
Operating Revenue
Operating Income
Net Income
EBITDA
Asset
Liability
Equity
Q1-2015
Q1-2016
∆ % YoY
65,247
109.7
20.7
21.1
116,298
703.8
682.8
703.3
78.2
541.6
3,196.5
3,233.2
FY2015
Q1-2016
∆%
191,738
189,909
1,828
235,459
232,948
2,511
22.8
22.7
37.3
31
ADDITIONAL INFORMATION
32
EFFICIENCY PROGRAM
2016
2015
TARGET
: US$250 million
ACHIEVEMENT (Q1) : US$25 million
TARGET
: US$200 million
ACHIEVEMENT : US$205 million
INITIATIVES
•
•
•
•
•
•
•
•
Flight Fuel Conservation
Economical Tanking
GPU Optimization
Use Own Aircraft For Hajj Flights
PBTH Contract Renegotiation
Catering Renegotiation
Cross Currency Swap
Early Termination of Aircrafts
INITIATIVES
(CONTINUATION)
INITIATIVES
(NEW)
•
•
•
•
•
•
•
•
Flight Fuel Conservation
Economical Tanking
GPU Optimization
Use Own Aircraft For Hajj Flights
Cross Currency Swap
•
•
•
Leasing Restructuring
Competitive Insurance Cost
Reducing Inventory Cost for In-flight
Services
Optimized Maintenance Program
EOTI (Engine Out Taxi In)
Centralized Flight Dispatch
33
SKY BEYOND
VISION 2020
To Be A Sustainable Airline Company Through Customer-Oriented Services and Growth in Profit
MISSION 2016-2020
Maximize Shareholder Return Through Strong Revenue Growth, Cost Leadership in Full Service Operations, and
Group Synergy While Providing the Highest Value to Customers Through Excellent Indonesian Hospitality
3 CORE STRATEGIES
EXCELLENT INDONESIAN
HOSPITALITY
RETURN MAXIMIZATION
GROUP SYNERGY
10 STRATEGIC DRIVERS
1.
2.
3.
Deliver the leading in-flight &
ground services through
human-to-human interaction
Ensure operation reliability by
constant refinement in all
touch points
Strengthen premium brand
positioning by accentuating
service as main differentiation
REVENUE
4. Maximize operational margin
through fleet, network, and
alliances optimization
5. Improve commercial
capabilities by strengthening
sales channel and sales force
6. Enhance customer value
through optimization in
pricing and revenue
management
COST
7. Promote cost-effectiveness
to achieve cost-leadership by
streamlining business process
throughout organization
8. Boost operation efficiency by
establishing an IT-based
airline
9. Strengthen domestic market by
positioning Citilink as a fighting
brand for GA
10. Achieve operational
competitiveness by leveraging
capabilities of subsidiaries
34
PT Garuda Indonesia (Persero) Tbk.
Investor Relations Department
2nd Floor Management Building Garuda City
Soekarno-Hatta International Airport
Phone: 62-21-2560 1201
Email: [email protected]
35