BOC Aviation : UBS Virtual APAC Transport and Logistics Day 2021

UBS Virtual Transport and

Logistics Day 2021

18 MAY 2021

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2020 RESULTS RECAP

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2020: Another Year of Unbroken Profitability

Resilient core business1
US$2,054 million	4%
Total revenues and other income
US$1,355 million	13%
Operating cash flows net of interest2
US$715 million	3%
Core lease rental contribution3
US$563 million	27%
Profit before tax
US$510 million	27%
Net profit after tax
US$0.73	27%
Earnings per share

Robust balance sheet1
US$23.6 billion	19%
Total assets
US$5.1 billion	12%
Total available liquidity
US$4.8 billion	4%
Total equity
US$6.88	4%
Net assets per share
Maintained dividend payout ratio
35%	Stable1
Annual dividend payout ratio
US$0.2571	27%5
Total dividend per share4

All data as at 31 December 2020

Notes:

1. Compared to FY2019 or as at 31 December 2019
2. Calculated as net cash flows from operating activities less finance expenses paid
3. Calculated as lease rental income less aircraft depreciation and finance expenses apportioned to lease rental income, amortisation of deferred debt issue cost and lease transaction closing cost
4. Includes interim dividend of US$0.1398 per share paid to shareholders registered at the close of business on 6 October 2020. The final dividend of US$0.1173 per share will be payable to shareholders registered at the close

	of business on the record date, being 11 June 2021.	4
5.	Compared to US$0.3541 paid for FY2019

FY2020 NPAT Drivers

Year-on-Year change (US$ million)

Growth in revenues	Changes in costs		Changes in exceptional
	(+$78m)	(-$84m)		items (-$206m)
78	9	(90)
80		(67)
		(27)	10	(109)
				(19)	(79)
702				696	20
					510

Core leasing business remains strong

Due to rounding, numbers presented may not add up precisely to the totals provided

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