Cathay Pacific Airways : Analysts Briefing 2018 Annual Results

Analysts Briefing 2018 Annual Results

13 March 2019

Disclaimer

This document has been prepared by Cathay Pacific Airways Limited ("the "Company", and together with its subsidiaries, the "Group") solely for information purposes and certain information has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the accuracy, fairness, completeness, reasonableness or correctness of the information or opinions presented herein or any verbal or written communication in connection with the contents contained herein. Neither the Company nor any of its affiliates, directors, officers, employees, agents, advisers or representatives shall have any responsibility or liability whatsoever, as a result of negligence, omission, error or otherwise, for any loss howsoever arising in relation to any information presented or contained in this document or otherwise arising in connection with this presentation. The information presented or contained in this document is subject to change without notice and shall only be considered current as of the date of this presentation.

This document may contain certain forward-looking statements that reflect the Company's beliefs, plans or expectations about the future or future events. These forward‐looking statements are based on a number of assumptions, current estimates and projections, and are therefore subject to inherit risks, uncertainties and other factors beyond the Company's control. The actual results or outcomes of events may differ materially and/or adversely due to a number of factors, including changes in the economies and industries in which the Group operates (in particular in Hong Kong and Mainland China), macro-economic and geopolitical uncertainties, changes in the competitive environment, foreign exchange rates, interest rates and commodity prices, and the Group's ability to identify and manage risks to which it is subject. Nothing contained in these forward-looking statements is, or shall be, relied upon as any assurance or representation as to the future or as a representation or warranty otherwise. Neither the Company nor its directors, officers, employees, agents, affiliates, advisers or representatives assume any responsibility to update these forward‐looking statements or to adapt them to future events or developments or to provide supplemental information in relation thereto or to correct any inaccuracies.

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Confidential and Proprietary Information

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Agenda

• • Briefing highlights

• • Operating performance

  • - Passenger Services

  • - Cargo Services

  • - Operating costs

  • - Subsidiaries and Associates

  • - Other financials

• • Fleet profile

• • Transformation update

• • Outlook

• • Q&A

Hosted by:

• - Rupert Hogg, Chief Executive Officer

• - Martin Murray, Chief Financial Officer

• - Paul Loo, Chief Customer and Commercial Officer

Briefing highlights

A year of solid performance and progress

HK$ million	2018	2017	% change
Airlines' profit/(loss) before taxation	537	(4,200)	+112.8%
Taxation	(296)	(103)	-187.4%
Airlines' profit/(loss) after taxation	241	(4,303)	+105.6%
Share of profits from subsidiaries & associates	2,104	3,044	-30.9%
Group attributable profit/(loss)	2,345	(1,259)	+286.3%

• • The Group reported an attributable profit of HK$2,345 million for the year, compared with a loss of HK$(1,259) million in 2017

• • Solid results despite intense competition and fuel price increase

• • Transformation programme remains on schedule and on track