Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Bohai Capital Holding Co Ltd    000415   CNE0000009B1

BOHAI CAPITAL HOLDING CO LTD

(000415)
  Report  
SummaryNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Avolon : Announce Q1 2019 Profit of US$176 Million, up 16% Year on Year

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/30/2019 | 05:18pm EDT

Avolon, the international aircraft leasing company, announces results for the first quarter of 2019 (‘Q1’).

2019 FIRST QUARTER | FINANCIAL HIGHLIGHTS

US$ MILLION   Q1 2019   Q1 2018   CHANGE
Lease Revenue   616   640   (4%)
Gain on disposal of PPE / finance lease receivables 83 8 938%
Profit for the quarter 176 152 16%
Total Available Liquidity 5,348 5,212 3%
Total Assets 27,490 28,273 (3%)
Net Debt to Equity 2.1x 2.2x
 
  • Lease revenue for the quarter was US$616 million;
  • Generated US$454 million of net cash from operating activities in the quarter;
  • Delivered US$176 million in profit for the quarter, an increase of 16% year on year;
  • At 31 March 2019, Avolon had US$16.5 billion future contracted rental cashflows; and
  • At quarter end, Avolon had US$5.3 billion of available liquidity in unrestricted cash, undrawn revolving credit facilities and undrawn secured and unsecured debt.

2019 First Quarter | Operating Highlights

  • Owned and managed fleet of 553 aircraft, with total orders and commitments for 398 new technology aircraft;
  • Executed a total of 8 lease transactions in the quarter comprising new aircraft leases, follow-on leases and lease extensions;
  • Delivered a total of 12 new aircraft to 9 customers and transitioned 4 aircraft to follow-on lessees;
  • Sold 20 aircraft during the quarter including the sale of 10 regional aircraft; and
  • Total of 150 airline customers operating in 61 countries.

2019 First Quarter | Strategic Highlights

  • Closing of a private offering of US$1.1 billion, aggregate principal amount, of senior unsecured notes, upsized from an initial target size of US$750 million;
  • Closing of inaugural US$500 million three-year unsecured term loan facility which was upsized by over 60% based on the original launch size of US$300 million; and
  • Upsized unsecured revolving credit facility by US$125 million bringing the total facility size to over US$2.3 billion;

Post Quarter-End Updates

  • Closing of a private offering by Avolon of US$2.5 billion, aggregate principal amount, of senior unsecured notes, upsized from an initial target size of US$1.8 billion due to significant investor demand; and
  • Avolon’s corporate credit and senior unsecured notes ratings were upgraded to investment grade by Fitch Ratings, Moody’s Investors Service and S&P Global Ratings. Avolon now has a corporate rating of BBB-, Baa3, and BBB- respectively, all with stable outlook.

Dómhnal Slattery, Avolon CEO, commented: “The first quarter represents another strong quarter of performance for Avolon, highlighted by the delivery of US$176 million profit for the quarter. The strong financial performance is underpinned by another active quarter for aircraft trading – a testament to the continued hard work, focus and commitment of the Avolon team.

Since quarter end, we have successfully achieved an investment grade ratings profile - a key corporate objective for 2019 and well ahead of our expected timeframe. Our enhanced credit rating profile will provide us with even greater financial flexibility and access to a deeper pool of capital.”

ENDS

About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 31 March 2019 of 951 aircraft.

Website: www.avolon.aero
Twitter: @avolon_aero

Note Regarding Forward-Looking Statements

This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved.


© Business Wire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BOHAI CAPITAL HOLDING CO L
06/18BOHAI CAPITAL : Avolon Orders 140 CFM LEAP-1A Engines to Power 70 A320neo Family..
BU
05/09AVOLON : Successfully Reprices Senior Secured Term Loan B Facility to Libor + 1...
BU
04/30AVOLON : Announce Q1 2019 Profit of US$176 Million, up 16% Year on Year
BU
04/24AVOLON :  Positioning Ireland at the Forefront of Global Start-up Innovation
BU
04/11BOHAI CAPITAL : Avolon Announces Pricing of Investment Grade Rated US$2.5BN Seni..
BU
04/11BOHAI CAPITAL : Launch of Senior Unsecured Notes Offering; Fitch, Moody's and S&..
BU
04/08BOHAI CAPITAL : Avolon to Consider Senior Unsecured Notes Offering; Targeting In..
BU
04/04BOHAI CAPITAL : Avolon Q1 Update
BU
02/14BOHAI CAPITAL : Avolon Announces Pricing of US$1.1 Billion Senior Unsecured Note..
BU
02/14BOHAI CAPITAL : Moody's Revises Avolon's Outlook to Positive
BU
More news
Chart BOHAI CAPITAL HOLDING CO LTD
Duration : Period :
Bohai Capital Holding Co Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers
NameTitle
Yi Qun Zhuo Chairman & Chief Executive Officer
Xiao Yun Cheng Chairman-Supervisory Board
Ping Jin Director
An Min Wen Vice Chairman
Chun Hua Ma Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BOHAI CAPITAL HOLDING CO LTD3 421
WORLDPAY INC58.85%36 814
CINTAS CORPORATION38.33%23 360
TELEPERFORMANCE24.93%11 305
EDENRED37.78%11 106
LG CORP--.--%11 044