Investor Presentaiton
Group results
Guest numbers continuing to increase and Revenue is at record levels
VAH Group (pre-AASB 16)
1H20
1H19
Change
KEY METRICS
Guests (m)
ASKS (m)
13.3
13.1
+2.1%
25,627
25,795
(0.7%)
Strong guest growth
OPERATING PERFORMANCE
Total Revenue ($m)
3,116.3
3,069.5
+1.5%
EBITDAR ($m)
513.2
560.2
(8.4%)
UPBT ($m)
14.5
111.9
(87.0%)
Fuel cost up $48.2 million reflecting strong hedging gains in PCP, Enterprise Agreement and
airport charges increased significantly above CPI
Underlying Profit before Tax of $24.5 million, including $10 million, impact of AASB 16
Statutory Loss Before Tax of $88.6 million, including impact of AASB 16
RASK up across all segments
Profit (Loss) Before Tax ($m)
(99.9)
87.7
(213.9%)
•
Increase in Adjusted Net Debt reflects Velocity acquisition
RASK (c.)
12.1
11.8
+2.5%
Post-AASB 16 adjusted net debt $4,247.2 million
CASHFLOW & BALANCE SHEET
.
Post-AASB 16 financial leverage is 5.2 times
Cash ($m)
1,107.6
1,251.5
☐ Adjusted Net Debt ($m)
5,050.4
3,935.2
Cash Generated from Operating Activities ($m)
5.8
276.4
(11.5%)
(28.3%)
(97.9%)
Net Liabilities ($1,599.6) million reflecting adoption of AASB 16 and Velocity acquisition
Financial Leverage (times)
6.4
4.1
(57.1%)
Notes: Virgin Australia Group has implemented AASB 16 Leases from 1 July 2019 using the modified retrospective approach. Under this approach, prior year comparative information has not been restated. Year on year changes and commentary have been based on pre-AASB 16 information ("pre-AASB 16") to allow for comparison. 1H20
comparison for the Group between pre and post AASB 16 is provided on slide 16 for operating performance and slide 17 for cashflow. 1H20 financials exclude AASB 16 to enable prior year comparison unless otherwise stated. From 1 July 2019 the Group has classified finance income received and finance costs paid as financing cash flows rather
than operating cash flows as these classifications provide more relevant and reliable information in relation to the effects of these transactions. The comparative has been reclassified to be consistent with the current period presentation but not restated.
This page contains Non-Statutory measures which are defined on slide 23. Following modification of accounting presentation for unrealised Foreign Exchange, 1H19 numbers have been restated accordingly.
Virgin
australia
group
Virgin Australia Group results H1 FY20 | 3View entire presentation