Financial Position (Consolidated)

Transcription

1 November 16 th, 2015

2 Disclaimer This presentation is for informational purposes only, contains preliminary financial and other information about Korean Air Lines Co., Ltd. and is subject to updating, revision, amendment and completion. This presentation does not and is not intended to constitute or contain any offer of securities for sale or a solicitation of an offer to purchase any securities of Korean Air Lines Co., Ltd. or any other company and neither this presentation nor anything contained herein shall form the basis of any contract or commitment. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements or trend information that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in the forward-looking statements in this presentation. In addition to statements which are forwardlooking by reason of context, including without limitation, statements referring to risk limitations, operational profitability, financial strength, performance targets, profitable growth opportunities, and risk adequate pricing, the words "may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, or continue", "potential, future, or further", and similar expressions are intended to identify forward-looking statements. Korean Air Lines Co., Ltd. assumes no obligation to update or revise any such statements or any other information contained herein to reflect events or circumstances that may arise after the date of this presentation. 2

3 Financial Position (Consolidated) (billion KRW) 3Q15 3Q14 Changes Rate Current Assets 3,267 4,948-1, % Cash & cash equivalents % Non-Current Assets 20,231 18,518 1, % Aircraft related assets 13,413 12,398 1, % Investment in associates % Total Assets 23,498 23, % Financial Liabilities 16,319 16, % Current 5,046 5, % Non-current 11,273 11, % Other Liabilities 5,137 4, % Total Liabilities 21,456 21, % Total Equity 2,042 2, % 3

4 Income Statement (Consolidated) (billion KRW) 3Q15 3Q14 Changes 1~3Q ~3Q 2014 Changes Sales 2,973 3, % 8,630 8, % Operating Expense 2,683 2, % 8,153 8, % Operating Income % % Non Operating Profit , Foreign currency related loss, net Interest Expenses, net Equity method income, net Income Before Tax Net Income

5 Income Statement (Non-Consolidated) (billion KRW) 3Q15 3Q14 Changes 1~3Q ~3Q 2014 Changes Sales 2,919 3, % 8,463 8, % Operating Expense 2,639 2, % 8,004 8, % Operating Income % % Non-Operating Profit , Foreign currency related loss, net Interest expense, net Income Before Tax Net Income

6 Borrowings (Non-Consolidated) (As of) Sep. 30 th, 2015 End of 2014 Changes Balance (billion) Ratio Balance (billion) Ratio Balance (billion) Rate USD % % % KRW 3, % 3, % % Others (JPY/EUR/HKD in USD) % % % Total (KRW) 15, % 14, % % Increase of total borrowings in KRW due to F/X effect - FX Rate as of Dec. 31 th, 2014 : 1USD / 1,099.2KRW - FX Rate as of Sep. 30 th, 2015 : 1USD / 1,194.5KRW 6

7 Revenue Composition (Non-Consolidated) 3Q15 ( 2,919 billion KRW) 3Q14 (3,104 billion KRW) Cargo 21.2% Others 9.1% Cargo 22.1% Others 8.1% International Passenger 57.2% Aerospace 7.9% Domestic Passenger 4.6% International Passenger 58.8% Aerospace 6.5% Domestic Passenger 4.5% Revenue decreased by 6% due to lower Fuel Surcharge 7

8 Passenger Traffic Passenger (International + Domestic) 3Q15 3Q14 YoY Capacity (Mil ASK) 23,800 24, % JUL 7,697 8, % AUG 8,337 8, % SEP 7,766 7, % Traffic (Mil RPK) 18,815 18, % JUL 6,134 6, % AUG 6,901 6, % SEP 5,781 5, % L/F(%) 79.1% 77.3% 3.0%p Yield (KRW) % Yield (US Cent) % Yield down due to lower Fuel Surcharge 8

9 Passenger Revenue by Route Operations [billion KRW] Q15 3Q14-11% +2% -17% -3% -15% -5% -9% Domestic Japan China SEA Oceania America Europe [Revenue : Routes] America 32% Europe 20% [Revenue : Regional Sales] Europe 6% America 16% Oceania 3% SEA 15% 3Q15 China 13% Domestic 7% Japan 10% SEA 7% China 11% Japan 8% 3Q15 Korea 52% 9

10 Passenger Business Overview 3Q Business Summary Traffic(RPK) Changes : Europe 14%, SEA 5%, Oceania 1%, America 3%, Japan 9%, China 10% Number of Passengers Carried : 3% (Korea Outbound 12%, Overseas 15% ) 4Q Business Plan Increase in outbound demand during holiday season and recovery of inbound overseas demand from the impact of MERS Revenue maximization by seasonal pricing and expansion of short-haul charter flights Flight-frequency increase of Southeast Asia and Oceania routes, due to strong demand during the winter season (e.g. Operating A380 to Sydney in December) 10

11 Cargo Traffic Cargo (International + Domestic) 3Q15 3Q14 YoY Capacity (Mil AFTK) 2,590 2, % JUL % AUG % SEP % Traffic (Mil FTK) 1,973 2, % JUL % AUG % SEP % L/F(%) 76.2% 79.1% -2.9%p Yield (KRW) % Yield (US Cent) % Yield down due to lower Fuel Surcharge 11

12 Cargo Revenue by Route Operations [billion KRW] Q15 3Q14-14% -13% % -6% -20% -14% -10% Domestic Japan China SEA Oceania America Europe [Revenue : Routes] America 42% Europe 26% 3Q15 SEA 14% Domestic 1% Oceania 1% Japan 4% China 12% [Revenue : Regional Sales] America 14% SEA 15% Europe 11% 3Q15 China 25% Korea 28% Japan 7% 12

13 Cargo Business Overview 3Q Business Summary Traffic(FTK) Changes : China 15%, Europe 3%, Oceania 3%, America 10%, Japan 5%, SEA 2% Total Tonnage of Carried : 0% (Korea Outbound 12%, Overseas 3% ) 4Q Business Plan Strong demand during the upcoming peak season for air cargo with the help of the low oil price Securing demand base through cooperation with global forwarders Developing customized products combined with Hanjin Group s logistics service 13

14 Aerospace Business Revenue Growth in 2015 Revenue Composition (bil. KRW) 1,000 Revenue (L) OP (R) 126 (bil. KRW) 150 (2015 1~3Q) '10 '11 '12 '13 '14 ' A/C 항공기 Manufacturing 부품제조 55% 63% Military MRO 21% Civil Aviation MRO 12% Unmanned A/C 12% (billion KRW) ~3Q Revenue Operating Profit OP Margin 3.6% 3.1% 4.4% 3.3% 11.7% 17.7% 14

15 Operating Expense Breakdown (Non-Consolidated) 영업수익 x 억원 3Q15 ( 2,639 billion KRW) 3Q14 (2,874 billion KRW) Rentals 2% Commission 3% In-flight service 4% Maintenance 2% Airport related 11% Fuel 28% Labor 17% Others 17% Depreciation 16% Rentals 2% Commission 3% In-flight service 4% Maintenance 3% Airport related 10% Fuel 36% Others 14% Labor 14% Depreciation 14% Operating expense decreased by 8% due to low fuel cost 15

16 Fleet Status (As of September 30 th, 2015) A/C Type No. of aircrafts Delivery (Month) A A B B747-8I B B Passenger Total B747F 17 B747-8F 6 B777F 5 Cargo Total 28 Total

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