Analyst Meeting & Presentation Full Year 2014 Result Announcement Jakarta… · 2018-03-28 · 1 PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation Full Year 2014 Result

1

PT GARUDA INDONESIA (PERSERO) Tbk.Analyst Meeting & Presentation

Full Year 2014 Result AnnouncementJakarta, 20 March 2015

2

Agenda Page

1. Company Profile 3 – 10

2. Network & Operational Results 11 – 19

3. Financial Results Full Year 2014 20 – 22

4. Strategies & Achievement for 2015 23 – 31

5. Subsidiaries 32– 34

IMPORTANT DISCLAIMER:

Information contained in this document has been prepared from several sources and the Company does not confirm the accuracy and completeness of such data, particularly where the data is sourced from outside the Company. In addition, any forward looking

statements are subject to change as a result of market conditions and the final result may be different to that indicated. The Company makes no representation or warranty of any type whatsoever on the accuracy or completion of the information contained

herein.

3

New Board Of Directors As Of 12 December 2014

IGN. Askhara DanadiputraDirector of Finance & Risk

Management

HandayaniDirector of Commercial

M. Arif WibowoPresident & CEO

Novianto HerupratomoDirector of Operations

Iwan JoeniartoDirector of Maintenance and

Information Technology

Heriyanto Agung PutraDirector of Human Capital &

Corporate Affairs

4

Price (30 Dec 14, IDR) : 555Market cap (IDR. mio) : 14,357,254

Number of share : 25,868,926,633Free Float (%) : 39.4952-week price range : 413 - 625

Share Performance List of Shareholders as of 30 December 2014

GIAA (RHS) - JCI Index (LHS)

Shareholders & Performance

Number of Shares %

Domestic

Government of Indonesia 15,653,128,000 60.51%

Retail 812,212,644 3.14%

Employee 85,008,244 0.33%

Institutional (Trans Airways) 6,711,457,801 25.94%

Other Institutional (less than 5%) 1,605,534,874 6.21%

Total Domestic 24,867,341,563 96.13%

International

Retail 4,558,470 0.02%

Institutional (less than 5%) 997,026,600 3.85%

Total International 1,001,585,070 3.87%

TOTAL 25,868,926,633 100%

Domestic

International

Percentage of Shares based

on Real Free Float

71.42%

28.58%

5

Transportation Profiles

Air

Rail

Sea

23

150

13

FY 2004

106

215

9

+ 19%

+ 4%

- 4%

Indonesia: Transportation profile (Passengers in million)

Source: Bloomberg Data

FY 2013 CAGR

ArchipelagoCountry

Air

Rail

Highway

121

1.073

16.289

FY 2004

354

2.106

37.469

+ 13%

+ 8%

+ 10%

China:Transportation profile (Passengers in million)

Source: Bloomberg Data, www.bps.go.id , and www.worldbank.org

FY 2013 CAGR

Massive Land

Country

Sea 181 262 + 4%

Arg

enti

na

Ital

y

Fran

ce

Ru

ssia

Jap

an

Ger

man

y

Bra

zil

Turk

ey

Can

ada

Sou

th A

fric

a

Au

stra

lia

Euro

pea

n U

nio

n

Un

ited

Sta

tes

Un

ited

Kin

gdo

m

Mex

ico

Ko

rea

Sau

di A

rab

ia

Ind

on

esia

Ind

ia

Ch

ina

5.4

Source: IMF-World Economic Outlook, April 2014

The 3rd Fastest GDP Growth among G20 countries in 2014.

Demand for air-travel services strongly correlates with the GDP per capita of the respective country. As the

3rd fastest growing country in G20, airline industry in Indonesia will provide promising growth in the near

and long term future

http://www.bbs.go.id/

http://www.worldbank.org/

6

Some Major Airport Development Projects 2013 - 2018

Development project plan for 8 airports reach approximately USD 4,2 billion.

JakartaUSD 2.2 bio (2016)

MajalengkaUSD 691.7 mio (2018)

YogyakartaUSD 308.3 mio (2018)

SurabayaUSD 583.3 mio (2015)

MakassarUSD 100 mio (2015)

SamarindaUSD 100 mio (2015)

BalikpapanUSD 133.3 mio (2014)Pontianak

USD 141.7 mio (2016)

Kualanamu

Muarobungo

Pekon Serai

Bawean Tual Baru

Sumarorong

Bone

Saumlaki Baru

Waisai

Kuffar Seram Waghete baru

Kamanap

Enggano

Buntu Kunik

Tebelian

Muara Teweh

Moa

Tojo Unauna

Miangas

Namniwel

Morowali

Segun

Werur

Sinak baru

2013 12 airports 2014 7 airports 2015 6 airports

Source: Kementerian Perhubungan, 2013 PT. Angkasa Pura I & II, Ministry of Transportation, Investor Daily

Kulonprogo

2016 3 airports 2017-2018 5 airports

KertajatiBanten Selatan Wirasaba Baru BaliAli Sadikin

Singkawang Tjilik Riwut

Samarinda Baru

7

In terms of air traffic, Indonesia has much room to grow

5.5

30.6 (566%)

Population Air Traffic

7.2

34.2 (476%)

127.3

105.9 (83%)

Numbers are in million

67.0

40.7 (61%)

29.7

46.3 (156%)

106.0 (42%)

Sources: Bloomberg Data and www.worldbank.org, Full Year 2013

Singapore Hongkong Malaysia

Japan Thailand Indonesia

In terms of traffic, Indonesia has so much room for growth. This is way different than Singapore and Malaysia thathave a number of passenger far greater than its population.

http://www.worldbank.org/

8

49 48 54 70 89 87 106 140 169 190

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

DOM Passenger Market (mil) INT Passenger Market (mil) No of Fleet Total Passenger Market (mil)

Restructuring Phase (2008-2011)Expansion Phase

(2012-2015)Survival Phase

(until 2007)

Average Age of

aircraft (years)

11.510.9 10.2

8.16.5

5.8

4.3

11.9

4.55.0

Transformation Phases (2006 – 2015)

FINANCIAL (USD mil)

2007 2008 2009 2010 2011 2012 2013 2014

Revenue 1,532 2,005 1,733 2,168 3,096 3,473 3,759 3,934

Op Profit 79 118 79 67 92 168 63 (399)

Net Profit 16 86 101 39 64 111 14 (372)

Asset 1,269 1,494 1,661 1,622 2,083 2,518 2,993 3,101

Equity (134) 189 435 497 923 1,115 1,126 917

Δ%

5

n.a.

n.a

4%

(19)

9

Fleet Expansion and Rejuvenation

# of Aircraft

Fleet at 31 Dec 2013 140IN: Delivery of: +35

B737-800NG 12

CRJ-1000 3

ATR72-600 6

B777-300ER 2

A330-300 4

A320-200 8

OUT: - 6

B737-300 3

B737-800NG 2

B737-400 1

Fleet at 31 Dec 2014 169

5.85.0 4.5 4.3

2012 2013 2014 2015E

Average Fleet Age (years)

Dec-13 Dec-14Ops

Lease Fin Lease /

Owned

Narrow Body• B737-300 3 1 - 1• B737-500 4 4 - 4• B737-800 NG 65 75 75 -• CRJ - 1000 12 15 9 6• ATR72-600 2 8 8 -Total Narrow Body 86 103 92 11Wide Body• B747-400 2 2 - 2• B777-300ER 4 6 6 -• A330-200 11 11 11 -• A330-300 7 11 5 6Total Wide Body 24 30 22 8Citilink• B737-300 5 4 - 4• B737-400 1 - - -•A320-200 24 32 32 -Total Citilink 30 36 32 4TOTAL FLEET 140 169 146 23

Dec-15

02

811811

112

09

111333

4-

3641

190

10

Recognition of Garuda Indonesia Service & Quality in the world

WORLD’S MOST IMPROVED AIRLINE

WORLD’S BEST REGIONAL AIRLINE

2010

2012

2013

WORLD’S BEST ECONOMY CLASS SEATS

WORLD’S BEST ECONOMY CLASS

2014

• 7TH RANK: WORLD’S BEST AIRLINE

• WORLD’S BEST CABIN CREW

• 5-STAR AIRLINE

73 Awards in 2014:- DOM: 49 awards- INT’L: 24 awards

11

Network & Operational Results

12

2014 Domestic Network

Ende

Pomala

Bau bau

LabuanBajo

Saumlaki

LanggurTimika

BanyuwangiKupang

Bima

Ternate

Ambon

LuwukPadang

Nias

Banda Aceh

Pekanbaru

Jambi

Bengkulu PalembangTjg Pandan

Tjg.Karang

Jakarta

Bandung

Yogyakarta Malang

SemarangSolo

Jember

Surabaya

Denpasar

MataramSumbawa Besar

Tambolaka

Putusibau

Tarakan

BerauManado

Gorontalo

BalikpapanPalangkaraya

Banjarmasin

Palu

KendariMamuju

Sorong

Manokwari

Biak

Jayapura

Merauke

Sibolga

Medan

Makassar

PontianakTjg PinangBatam

Pgk Pinang

Period 2012 2013 2014

Destinations 34 42 54

13

2014 International Network

Melbourne

SydneyPerth

Seoul

Tokyo (HND)

Tokyo (NRT)

Jeddah

LondonAmsterdam

Brisbane

Medan

Hongkong

Jakarta

Osaka

Dili

Guangzhou

Beijing

Shanghai

Bangkok

Denpasar

Kuala Lumpur

Singapore

Surabaya

Period 2012 2013 2014

Destinations 19 20 18

14

Competition on routes which GA flies as per Dec 2014From Main Airports traffic in/out CGK, DPS, SUB, UPG, and MES

11.8 12.3

3.6 3.9

Jan-Dec 2013 Jan-Dec 2014Others GA Int'l

34.9 33.1

4.2 4.9

15.2 16.4

Jan-Dec 2013 Jan-Dec 2014Others Citilink GA Dom

3.5 3.6

3.9

24.2%23.5%

24.0%

20%

21%

22%

23%

24%

25%

3.0

3.2

3.4

3.6

3.8

4.0

Jan-Dec 2012 Jan-Dec 2013 Jan-Dec 2014

Total GA Passengers (millions) Market Share

13.4 15.2 16.4

28.2% 27.9%

30.2%

26%

27%

28%

29%

30%

31%

9.0

10.5

12.0

13.5

15.0

16.5

18.0

Jan-Dec 2012 Jan-Dec 2013 Jan-Dec 2014

Total GA Passengers (millions) Market Share

Traffic (in million passenger)

16.215.4

4.2%

7.5%

5.0%54.454.3

-5.2%

8.0%

0.1%

15.6%

Domestic International

Market Share

15

16.7%

5.5%2.8% 1.4% 0.3%

-17.4%

12.7%

7.3%

2.9%0.9%

-0.8%

-11.2%

7.1%

16.3%

10.6%

5.9%

0.9%

-0.3%

-4.7%

7.5%

Operation Growth Compared to Regional Peers

Note: Malaysian Airlines, data per Aug’14 & Qantas: data per Nov’14Source: GA’s data, Airline’s Website, AsiaPacific’s data: IATA-JPM Report

Passenger Carried Growth 2013-2014

ASK Growth 2013 vs 2014 RPK Growth 2013-2014

Asia Pacific

Asia Pacific

AAPA Industry Indicators – 2014

Source : AAPA MIS Dec 2014

Passenger Carried Growth

0.3%

8.1%

9.9%

0.8%

4.9%

South EastAsia

North EastAsia

South Asia Oceania Asia PacificTotal

16

SkyTeam and ASEAN open-skies

1064Destinations

20Partner Airlines

With Over 15,723 daily flights to 1,064 destinations

in 178 countries, the SkyTeam network will offer GA

customers more destinations and more connections from

the best hubs in the world

Why does GIAA choose SkyTeam?SkyTeam has lesser Australia routes and lesser Indonesia routes

compared to other alliances

The benefits being a member of SkyTeam* Extended network without significant costs

*Alliance with SkyTeam will solve GFF redemption issue

Joined 5 March 2014

Airports that will be opened for ASEAN open-skies: Jakarta, Surabaya, Bali, Makassar and Medan

The opportunities of ASEAN Open Sky• More flexibility to freely mobilize capacity and manpower

across the region• Enhancing domestic traffic and tourism activities within

Indonesia and other ASEAN members• Open Sky will encourage chances of getting more revenue

from airline supporting business (catering, ground handling,MRO)

17

2013 2014 ∆ % YoY

Frequencies 196,403 228,329 16.3

On Time Performance (%) 83.8 88.8 5.0*

ASK (’000) 43,133,085 50,154,921 16.3

Aircraft Utilization (Hours) 10:44 9:48 -0:56

Average Fuel Price (USD/L) 0.88 0.83 (5.2)

Fuel Burn / ATK 0.25 0.24 (3.6)

Fuel Burn / Block hours 3,857 3,684 (4.5)

Passenger Carried 24,965,239 29,139,277 16.7

RPK (‘000) 31,949,989 35,997,197 12.7

Seat Load Factor (%) 74.1 71.8 (2.3)

Passenger Yield (US¢) 9.1 8.6 (5.3)

CASK (USc) 7.76 7.89 1.6

CASK Ex Fuel (USc) 4.58 4.86 6.2

Cargo/Mail Uplifted (Ton) 345,923 403,994 16.8

Operating Indicators - Group

Notes: All figures include GA & Citilink, except aircraft Utilization and OTP are for GA Main Brand only* in percentage points

Operational

Passenger& Cargo

Efficiency

18

2013 2014 ∆ % YoY


Frequency 130,262 146,904 12.8

ASK (’000) 17,316,120 20,377,722 17.7

RPK (‘000) 13,432,356 15,216,204 13.3

Seat Load Factor (%) 77.6 74.7 (2.9)*



Frequency 27,131 28,832 6.3

ASK (’000) 20,362,149 22,526,573 10.6

RPK (‘000) 14,319,698 15,014,851 4.9

Seat Load Factor (%) 70.3 66.7 (3.7)*


Operating Indicators 2014 – Main Brand By Sector

DOM

INT’L

Note: • *) In percentage point

63%

70%

7.9 7.9

7.0

7.5

8.0

60%

62%

64%

66%

68%

70%

72%

1H14 2H14

SLF Yield (Usc)

73%

76%

10.010.1

9.8

9.9

10.0

10.1

10.2

70%

72%

74%

76%

78%

1H14 2H14

SLF Yield (Usc)

Domestic

International

19

2013 2014 ∆ % YoY


Frequency 157,393 175,736 11.7

ASK (’000) 37,678,270 42,904,295 13.9

RPK (‘000) 27,752,054 30,231,055 8.9

Seat Load Factor (%) 73.7 70.5 (3.2)*

Passenger Yield (in US¢) 9.5 9.0 (5.3)

Passenger Yield (in IDR) 1,004 1,070 6.6


Frequency 39,010 52,593 34.8

ASK (’000) 5,454,816 7,250,626 32.9

RPK (‘000) 4,197,935 5,766,142 37.4

Seat Load Factor (%) 77.0 79.5 2.6*

Passenger Yield (US¢) 6.1 6.4 4.9

Passenger Yield (in IDR) 644 761 18.0

Operating Indicators 2014 – Main Brand & Citilink

Main Brand

Citilink

Note: *) In percentage point

20

Financial Results 2014

21

Operating Loss*in USD mio FY2013 FY2014 Δ% FY2014*

EBITDAR 810.4 546.0 (32.6) 659.5

Scheduled Airline 3,170.1 3,384.3 6.8 3,384.3

Non-Scheduled Airline 216.0 203.9 (5.6) 203.9

Others 373.4 345.4 (7.5) 345.4

Total 3,759.5 3,933.5 4.6 3,933.5

Fuel 1,420.1 1,560.3 9.9 1,560.3

Non Fuel 2,276.4 2,772.6 21.8 2,659.1

Total 3,696.5 4,332.8 17.2 4,219.3

Income / Loss from Operations

62.9 (399.3) n.a. (285.8)

Loss Before Tax 13.7 (460.5) n.a. (347.0)

Loss Current Period 13.6 (372.0) n.a. (258.5)

Comprehensive Loss (5.6) (338.4) n.a. (224.9)

Summary of Consolidated Income Statement

Operating Revenue

Operating Expenses

Income

(192.6)

(41.3) (16.4) (35.5)

1Q14 2Q14 3Q14 4Q14

* Excluding impairment loss was USD 113.5 MioEarly termination USD 52.8 mio, Asset revaluation USD 35.7 mio, Merpati investment & account receivable USD 21.4 mio,dan Gapura USD 3.6 mio

EBITDAR Margin

Nett Margin

21.6 % 13.9 %

0.4 % (9.5) %

16.8 %

(6.6) %

22

in USD mio 31 Dec 2013 31 Dec 2014 ∆ %

Current Assets 836.5 810.5 (3.1)

Non-Current Assets 2,156.2 2,290.3 6.2

Total Assets 2,992.7 3,100.8 3.6

Current Liabilities 999.1 1,219.4 22.0

Non-Current Liabilities 867.8 964.7 11.2

Total Liabilities 1,866.9 2,184.1 17.0

Total Equities 1,125.8 916.7 (18.6)

Total Liabilities & Equities 2,992.7 3,100.8 3.6

Summary of Consolidated Balance Sheet

Asset

Liabilities

Equities

Debt/Equity 1.3 x0.9 x

2323

Strategies & Achievement for 2015

24

1. Revenue Generator 2015

• Reduce unprofitable flight routes

• Postpone the opening of new routes

• Adjust flight schedules to various destination cities in Australia and Europe.

Flight network restructuring

• Flights to cities in China besides the three major cities currently served by Garuda (Beijing, Shanghai, Guangzhou), such as Chengdu, Chong Qin, Ningbo, Kunming, Jinan, Harbin, Xian, Shenyang and Chengzhou

Focus on developing routes in China

• Developing market potentials to the Middle East, especially expanding the umrah market.

Focus on developing market to the Middle East

Improve revenue management and channel distribution

25

Potential saving from lower fuel price : USD 172.25 million

Potential saving from efficiency initiatives : USD 146.94 million

Current Target Fuel Hedging 25% of estimated fuel consumption 2015 with jet fuel price budget: (Instruments: Forward and Call Spread)

2. Cost Efficiency Programs 2015

Potential Cost Saving for 2015

Budget RKAP 2015 (Usc/l) Target Price 2015 (Usc/l)**

Market Jet Fuel Price (Usc/l) 64.10 42.80

IntoPlane Price (Usc/l) 75.00 57.70

26

3. Re-profiling Loan Strategy

Total Garuda’s debt balance as per 31 January 2015 is USD 1bio.

USD 400mio Bridging Facility from NBAD and DIB (with 7 years backstop financing) will be used to re-profile portion of existing commercial term loan.

Global Unrated Sukuk of USD 500mio will take out the Bridging Facility, extending maturity in debt financing to 5 years.

27

January Operational Data

GARUDA INDONESIA MAINBRANDJan-12 Jan-13 Jan-14 Jan-15 Δ%

ASK (’000) 2,567,289 2,913,620 3,592,705 3,934,396 9.5

RPK (’000) 1,849,130 1,933,490 2,367,833 2,872,987 21.3

Passenger Carried 1,347,770 1,319,176 1,626,860 1,871,798 15.1 Yield 10.06 9.60 8.55 8.16 (4.6)USDIDR 9,068 9,670 12,189 12,440 (2.0)Av. Fuel Price 88.36 89.67 90.11 56.56 (37.2)CASK (USc) 8.01 7.54 7.86 6.94 (11.7)

CASK Ex Fuel (USc) 4.86 4.34 4.48 4.86 8.4

Seat Load Factor (%) 72.03 66.36 65.91 73.02 7.1*

* in percentage points

GA DOMESTICJan-12 Jan-13 Jan-14 Jan-15 Δ%

ASK (’000) 1,206,644 1,361,717 1,601,510 1,814,318 13.3

RPK (’000) 933,499 867,585 1,072,185 1,297,147 21.0 Passenger Carried 1,075,536 1,029,057 1,298,673 1,478,493 13.8

Seat Load Factor (%) 77.36 63.71 66.95 71.50 4.5*

GA INTERNATIONAL

Jan-12 Jan-13 Jan-14 Jan-15

ASK (’000) 1,360,645 1,551,904 1,991,195 2,120,078 6.5 RPK (’000) 915,630 1,065,907 1,295,649 1,575,840 21.6

Passenger Carried 272,234 290,119 328,187 393,305 19.8 Seat Load Factor (%) 67.99 68.68 65.07 74.33 9.3*

28

February Operational Data

GARUDA INDONESIA MAINBRANDFeb-12 Feb-13 Feb-14 Feb-15 Δ%

ASK (’000) 2,522,087 2,767,992 3,154,208 3,357,747 6.5

RPK (’000) 1,791,830 2,142,515 2,163,627 2,497,308 15.4

Passenger Carried 1,268,398 1,438,623 1,548,558 1,716,529 10.8

Yield 9.69 9.36 8.42 7.86 (6.6)USDIDR 9,000 9,698 12,226 12,625 (3.3)Av. Fuel Price 91.12 92.83 87.31 50.69 (41.9)CASK (USc) 8.02 7.90 7.90 6.75 (14.6)CASK Ex Fuel (USc) 4.78 4.55 4.73 4.81 1.8

Seat Load Factor (%) 71.05 77.40 68.59 74.37 5.8*

GA DOMESTIC

Feb-12 Feb-13 Feb-14 Feb-15ASK (’000) 1,117,125 1,237,795 1,445,948 1,652,183 14.3

RPK (’000) 875,824 978,668 1,081,515 1,221,732 13.0 Passenger Carried 1,013,089 1,150,743 1,274,688 1,395,139 9.4 Seat Load Factor (%) 78.4 79.1 74.8 74.0 (0.8)

GA INTERNATIONAL

Feb-12 Feb-13 Feb-14 Feb-15

ASK (’000) 1,404,962 1,530,197 1,708,260 1,705,564 (0.2)RPK (’000) 916,006 1,163,847 1,082,114 1,275,577 17.9 Passenger Carried 255,309 287,880 273,870 321,390 17.4 Seat Load Factor (%) 65.2 76.1 63.3 74.8 11.4

* in percentage points

29

Profit & Loss - GA Parent

Revenue

Expense

Income

in USD mio 31-Jan-11 31-Jan-12 31-Jan-13 31-Jan-14 31-Jan-15 ∆ %

EBITDAR 20.5 29.0 22.6 (9.2) 73.3 n.a.

Scheduled Airline 159.0 213.7 204.4 219.9 253.3 15.2

- Passenger 146.3 198.8 188.1 204.3 238.2 16.6

- Freight 12.7 14.9 16.3 15.6 15.1 (3.1)

Non-Scheduled Airline 2.7 0.5 3.1 1.0 9.8 878.2

Others 3.9 6.0 5.4 5.2 6.8 30.7

Total Operating Revenue 165.6 220.2 212.8 226.1 269.8 19.3

Total OperatingExpense

181.9 228.9 231.2 293.9 269.7 (8.2)


(16.4) (8.8) (18.4) (67.8) 0.1 n.a.

Net Income (16.5) (5.9) (27.7) (73.7) (2.8) n.a.

USD IDR 8,991 9,068 9,670 12,189 12,440 (2.0)

30

Profit & Loss - GA Parent

Revenue

Expense

Income

in USD mio 28-Feb-11 29-Feb-12 28-Feb-13 28-Feb-14 28-Feb-15 ∆ %

EBITDAR 30.2 34.8 35.5 (11.1) 73.8 n.a.

Scheduled Airline 148.1 198.8 219.7 200.4 213.9 6.7

- Passenger 136.6 183.9 205.0 185.9 199.0 7.1

- Freight 11.5 14.9 14.7 14.5 14.9 2.7

Non-Scheduled Airline 5.7 0.5 0.0 0.6 13.2 1,978.0

Others 16.5 5.7 4.8 4.8 6.6 36.8

Total Operating Revenue 170.3 205.0 224.5 205.9 233.8 13.6

Total Operating Expense

175.2 207.2 228.6 274.3 231.0 (15.8)


(5.0) (2.3) (4.1) (68.4) 2.8 n.a.

Net Income (5.2) (2.8) (14.8) (77.4) 1.2 n.a.

USD IDR 9,057 9,000 9,698 12,226 12,863 (5.0)

31

568,210

502,305

26,997 4,091 2,826 1,920 1,299 1,293 (3.345) (8.674) (24.848)(67.464)

300,000

350,000

400,000

450,000

500,000

550,000

600,000

650,000

700,000

Operating Expense YTD Feb 2014-2015 (in USD'000)

Rental

Depr.Sales&

Promo

PassengerService

General&

Admin

Maintenc&

Overhaul

StationOther

Fuel

Opr. ExpenseYTD Feb'14

Opr. ExpenseYTD Feb'15

Personnel

Operating Expense

decrease 12%

Total Operating Expense

For YTD February 2015 compare to YTD February 2014 the operational cost decreased 12% due to:• Fuel cost decreasing 30% as impact of fuel price drops 42% to USC 50.7/liter in February 2015• Gain exchange rate USD 8.5 mio in YTD February 2015 compare to YTD February 2014 loss in exchange rate USD

16.8 mio .

31%

114%15%8%3%6%14%9%15%28%

Operating Expense YTD Feb 2015

3232

Subsidiaries

33

2014 ∆ % YoY

Operating Revenue 17,950 (18.7)

Operating Income (1,213) n.a.

Net Income (1.345) n.a.

EBITDA 1.440 (69.8)

2014 ∆ % YoY

Operating Revenue 3,038 (1.5)

Operating Income 385 (3.2)

Net Income 355 184.1

EBITDA 596 (0.0)

2014 ∆ % YoY

Operating Revenue 264,049 14.7

Operating Income 23,663 32.8

Net Income 16,894 (11.7)

EBITDA 30,169 31.6

2014 ∆ % YoY


Operating Income 111 11.3

Net Income 63 (4.7)

EBITDA 207 12.5

PT Aerowisata (in IDR bn) PT GMF-AA (in USD ‘000)

PT Aero System (in USD ‘000)PT Abacus DS Indonesia (in USD ‘000)

Summary of Subsidiaries Performance

PT Citilink Indonesia (in USD ‘000)

2014 ∆ % YoY


Operating Income (13,543) 77.5

Net Income (14,890) 69.3

EBITDA (4,328) 90.8

2014 ∆ % YoY


Operating Income 9 (83.5)

Net Income 35 (20.2)

EBITDA 48 (47.4)

PT Gapura (in IDR bn)

34

PT Garuda Indonesia (Persero) Tbk.Investor Relations Department

2nd Floor Management Building Garuda CitySoekarno Hatta International AirportPhone: 62-21-2560 1201Email: [email protected]

THANK YOU

Analyst Meeting & Presentation Full Year 2014 Result Announcement Jakarta… · 2018-03-28 · 1 PT GARUDA INDONESIA (PERSERO) Tbk. Analyst Meeting & Presentation Full Year 2014 Result

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