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    AF   FR0000031122

AIR FRANCE-KLM

(AF)
  Report
Real-time Euronext Paris  -  11:36 2022-12-06 am EST
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Air France KLM : Financial Presentation

09/22/2022 | 08:35am EST

Results presentation

Results as of June 30, 2022

July 29, 2022

Q2 2022 highlights

Benjamin Smith

Chief Executive Officer

Air France-KLM

2

Airline industry: faster-than-expected recovery resulting into operational challenges

IATA 2022 forecast - Worldwide capacity & traffic

Index 100 = 2019 levels

+21pts

+21pts

88

82

67

61

A n e w g l o b a l e n v i r o n m e n t

Forecast October 2021

Forecast June 2022

S t r o n g t r a v e l d e m a n d i n a c o n t e x t o f s o c i a l u n r e s t a n d s t a f f

s h o r t a g e l e a d i n g t o

c r i t i c a l i n f r a s t r u c t u r e s

a n d AT C d i s r u p t i o n s

Trafic (RPK)

Capacity (ASK)

2022 Traffic (RPK)

2022 Capacity (ASK)

3 Source: IATA reports (airline industry economic performance)

Safeguarding the trust of our customers is our top priority in a complex operational environment

  • Air France-KLM among the strongest in travel recovery with anticipated Summer growth
  • Despite numerous proactive efforts, we face operational difficulties across our network in an industry-wide context of staff shortages and a challenging social environment across numerous customer touchpoint
  • KLM has to operate in deteriorated conditions at Schiphol and mitigates the disruptions by prioritizing delayed customers over punctuality and facilitating rebooking with load factor restrictions on top of the restrictions requested by Schiphol airport(1)
  • Overall, Air France is able to maintain a steady operation with 99.4% of scheduled flights in June and July(2)
  • For Q2, those disruptions lead to an additional €70M cost(3) to compensate our customers and limit as much as possible the negative impact on their travel

(1) Schiphol airport requested KLM to reduce the number of departing passengers from SPL between July 7th and August 31st and as a

4

consequence KLM decided to reduce 14 seats on every KLC flight and ~5% of seats on every other European flight ; (2) Excluding mandatory

cancellations at French Authorities' request due to CDG firemen strikes (4 days) ; (3) Additional disruption cost (excluding missed revenues)

Strong Q2 results driven by a favorable travel demand well anticipated from a capacity perspective by the airlines

  • Positive Operating result of €0.4bn in Q2
  • Load factor at 85% with group capacity at 85% compared to 2019
  • Adjusted Operating Free Cash Flow at €1.5bn thanks to EBITDA of €931m and strong bookings for summer with more than €1bn of advanced tickets sales during Q2
  • Major steps taken to strengthen the balance sheet

Passengers carried

Group revenues

+226%

+144%

28m

7m

23m

€7.0bn €1.2bn

€6.7bn

1m

€2.8bn

Q2 2019 Q2 2020 Q2 2021 Q2 2022

Q2 2019 Q2 2020 Q2 2021 Q2 2022

Operating result

FTE's1

+ €1.1bn

- 11.9k

€0.4bn

€0.4bn

86.8k

€-1.6bn€-0.8bn

82.4k

74.9k

74.9k

Q2 2019 Q2 2020 Q2 2021 Q2 2022

Q2 2019 Q2 2020 Q2 2021 Q2 2022

  • Solid €11.9bn cash at hand and strong net debt reduction by €2.2bn versus Dec 2021

5 (1) June snapshot

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Air France-KLM SA published this content on 22 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2022 11:59:01 UTC.


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Financials
Sales 2022 25 281 M 26 595 M 26 595 M
Net income 2022 173 M 182 M 182 M
Net Debt 2022 8 234 M 8 661 M 8 661 M
P/E ratio 2022 14,6x
Yield 2022 -
Capitalization 3 201 M 3 368 M 3 368 M
EV / Sales 2022 0,45x
EV / Sales 2023 0,44x
Nbr of Employees 72 439
Free-Float 47,1%
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Technical analysis trends AIR FRANCE-KLM
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Last Close Price 1,25 €
Average target price 1,56 €
Spread / Average Target 25,3%
EPS Revisions
Managers and Directors
Benjamin M. Smith Chief Executive Officer & Director
Steven Zaat Chief Financial Officer
Anne-Marie Couderc Non-Executive Chairman
Jean-Christophe Lalanne Executive Vice President-Information Technology
Isabelle Bouillot Independent Director
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