GOL Investor Update
July 08 2019 - 7:06AM
PR Newswire (US)
SÃO PAULO, July 8, 2019
/PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. (NYSE:
GOL and B3: GOLL4), Brazil's
premier domestic airline, provides its Investor Update. The
information below for the quarter ended in June 2019 is preliminary and unaudited. For
comparison purposes, second quarter 2018 results were adjusted in
accordance with IFRS 16.
Overall
Commentary¹
|
- GOL expects an
EBITDA margin for the quarter of 22% to 24%², an increase in
relation to the quarter ended in June 2018
(16.4%3).
- Passenger unit
revenue (PRASK) for the second quarter is expected to be up
approximately 24% year over year. For the quarter ended in June,
GOL expects unit revenue (RASK) to increase approximately 23%.
The increase in total unit cost was responsible for over 90% of the
variation in unit revenue.
- Non-fuel unit costs
(CASK ex-fuel), are expected to increase by approximately
15%2,3 in relation to the second quarter of the prior
year, primarily due to the 9% depreciation of the Brazilian real in
the year-over-year comparison, increases in payroll taxes due to
the elimination of the Payroll Tax Relief Program, increases in
landing and navigation expenses due to a 10% increase in rates, and
increases in depreciation from five net additional aircraft in the
fleet.
- GOL's financial
leverage, as measured by the Net Debt4/LTM EBITDA ratio,
was approximately 3.2x at the end of the June 2019 quarter. The
Company amortized R$100 million of debt in the quarter and total
liquidity at quarter-end is expected to be at R$3.7 billion, above
the R$3.5 billion of the previous quarter.
|
Preliminary and
Unaudited Projection
|
EBITDA
Margin²
EBIT
Margin²
Ancillary Revenue
(cargo and other)
Average fuel price
per liter
Average exchange
rate
Passenger unit
revenue (PRASK)
CASK
Ex-fuel2,3
Total Demand –
RPK
Total Capacity –
ASK
Total Capacity –
Seats
|
June Quarter
2019
22% -
24%
9%
- 10%
6% of total net
revenues
R$2.94 -
R$3.02
R$3.92
June Quarter
2019
vs. June Quarter
2018
Up ~24%
Up ~15%
Up ~11.6%
Up ~6.5%
Up ~3.2%
|
1 For
comparison purposes, 2Q18 results adjusted in accordance with IFRS
16, unaudited.
2 Excluding non-recurring expenses of approximately R$80
million in 2Q19.
3 Excluding net results of approximately R$86 million
related to aircraft sales in 2Q18.
4 Excluding perpetual notes.
|
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A.: Brazil's largest airline group with three main
businesses: passenger transportation, cargo transportation and
coalition loyalty program.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.
Copyright 2019 PR Newswire
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