Investor Presentaiton
الواحة كابيتال
WAHA CAPITAL
PRINCIPAL INVESTMENTS
H1 2017 earnings per share of
$3.27, compared to $2.37 in
2016
Ownership
OTHERS
Deutsche Bank
16%
AERCAP
الواحة كابيتال .
WAHA CAPITAL
WELLINGTON
MANAGEMENT
GREENLIGHT
Overview
Stable and healthy industry with favourable outlook
- Significant cash flow generation capability
- Focus on selective and disciplined growth and on-going portfolio
management
- Conservative, long-term and robust funding structure with diversified
sources of capital
- Largest independent lessor with modern portfolio of in-demand aircraft;
industry leader in profitability
- Investment grade rating by Fitch, Standard & Poor's, and Moody's
-During Q4-2015 to Q1-2016, acquired 4m shares for a total purchase
price of AED 537.1 million which were disposed in Q4 2016 at total
proceeds amounting AED 643.8 million
- Waha Capital with 15.81% stake is currently the largest beneficial
shareholder in AerCap, retaining 2 board seats and representation on
various Board Committees
-During H1 2017, the Group recorded an impairment of AED 125.4
million against the share of income from its investment in AerCap of
AED 306.3 million, following a reassessment of the investment's
recoverable amount due to evidence of a prolonged period of its share
price trading at reducing multiple over its book value, among other
relevant factors.
46%
Market
Cap*
US$ 8.2bn
8%
7%
5%
DONALD SMITH
=
5%
& CO., INC.
4%
4% 4%
- Extended Aercap Collar hedges in August and November 2016 on 22.9
million shares with progressive maturities over 2018-2020
- Aercap contributed 33% of the Group's total income and represented
44% of the Group's assets with a carrying value of AED 4,731.0 million
CAMBIAR INVESTORS
Source: Bloomberg, AerCap, Waha Capital
*As of 31 JUL 2017
BLACKROCK®
Fidelity
INVESTMENTS
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