SÃO PAULO, March 14, 2022
/PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. (NYSE:
GOL and B3: GOLL4), ("GOL" or "Company"), Brazil's largest domestic airline, provides an
Investor Update. All information is presented in Brazilian
Reais (R$). The information below is preliminary and unaudited.
GOL is updating its financial forecasts in light of the expected
approximately 30% increase in Brazilian jet fuel prices since the
beginning of the year. For 2022, the Company will maintain its
focus on the fleet transformation and expects that by year end it
will have 44 aircraft 737-MAXs in service, which will represent
around 32% of the total fleet. As a result of this modernization
process, GOL expects a reduction of approximately 8% in its unit
cost (CASK).
To help investors and analysts understand how GOL addresses its
near-term planning, the Company shares the following
indicators:
Financial
Outlook
|
2022E
Previous
|
2022E
Updated
|
Total fleet
(average)
|
135 – 140
|
130 – 140
|
Total operational
fleet (average)
|
105 – 110
|
100 – 105
|
ASKs, System (%
change yoy)
|
70 – 80%
|
65 – 75%
|
Seats, System (%
change)
|
80 - 90%
|
65 – 75%
|
Departures, System (%
change)
|
80 – 90%
|
65 – 75%
|
Average load factor
(%)
|
~82%
|
~82%
|
Ancillary revenues.
net1 (R$bn)
|
~0.8
|
~0.8
|
Total net revenues
(R$ billion)
|
~14.0
|
~13.7
|
Non-fuel
CASK2 (US$ cents)
|
~3.3
|
~3.3
|
Fuel liters consumed
(mm)
|
~1,295
|
~1,200
|
Gross Global Scope 1
emissions (000 m t CO2)
|
~3,289
|
~3,060
|
Total Fuel Consumed
(1.000 liters per RPK)
|
~34.6
|
~34.6
|
GHG Emissions/Flight
Hour (t CO2)
|
~8.4
|
~8.4
|
Fuel price
(R$/liter)
|
~3.8
|
~4.3
|
EBITDA margin²
(%)
|
~25%
|
~24%
|
EBIT margin²
(%)
|
~11%
|
~10%
|
Net financial
expense3 (R$bn)
|
~1.8
|
~1.8
|
Pre-tax
margin3 (%)
|
~1%
|
~0%
|
Effective income tax
rate (%)
|
~11%
|
~0%
|
Capex,
net4 (R$ mm)
|
~700
|
~700
|
MAX Aircraft
Acquisitions (R$mm)
|
~1,100
|
~1,100
|
Aircraft Debt (7x
Annual Acft Lease Payments) (US$bn)
|
~3.3
|
~3.3
|
Financial Debt
(US$bn)
|
~2.1
|
~2.1
|
Net Debt5
/ EBITDA2 (x)
|
~7x
|
~8x
|
Fully-diluted
shares out6 (mm)
|
~435
|
~435
|
EPS, fully
diluted (R$)
|
~0.26
|
~0
|
Fully-diluted ADS
out.6 (mm)
|
~217.5
|
~217.5
|
EPADS, fully diluted
(US$)
|
~0.10
|
~0
|
(1)
Cargo. loyalty. buy-on-board and other ancillary revenues;
(2) Recurring operating results, does not include
non-recurring maintenance costs related to fleet transformation;
(3) Excluding currency gains and losses and Unrealized
losses on Exchangeable Senior Notes; (4) Capex,
net is calculated as Gross capex (fleet capitalized maintenance)
subtracted by financed Capex (credit facilities to finance assets
acquisition and maintenance costs) ; (5)
Including 7x annual aircraft lease payments and excluding perpetual
bonds; and (6) Includes stock option exercises that may
be issued from the stock option program and related to Exchangeable
Senior Notes.
|
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A.
GOL is the
largest airline in Brazil, leader
in the corporate and leisure segments. Since founded in 2001, the
Company has the lowest unit cost in Latin
America, thus democratizing air transportation. The Company
has alliances with American Airlines and Air FranceKLM, besides
several codeshare and interline agreements available to Customers,
bringing more convenience and simple connections to any place
served by these partnerships. With the purpose of "Being the First
for All", GOL offers the best travel experience to its passengers,
including: the largest number of seats and more space between
seats; the greatest platform with internet, movies and live TV; and
the best frequent-flyer program, SMILES. In cargo transportation,
GOLLOG delivers orders to different regions in Brazil and abroad. The Company has a team of
15,000 highly qualified aviation professionals focused on Safety,
GOL's #1 value, and operates a standardized fleet of 127 Boeing 737
aircraft. The Company's shares are traded on the NYSE (GOL) and the
B3 (GOLL4). For further information, visit
www.voegol.com.br/ri.
Disclaimer
The information contained in this press
release has not been subject to any independent audit or review and
contains "forward-looking" statements, estimates and projections
that relate to future events, which are, by their nature, subject
to significant risks and uncertainties. All statements other than
statements of historical fact contained in this press release
including, without limitation, those regarding GOL's future
financial position and results of operations, strategy, plans,
objectives, goals and targets, future developments in the markets
in which GOL operates or is seeking to operate, and any statements
preceded by, followed by or that include the words "believe",
"expect", "aim", "intend", "will", "may", "project", "estimate",
"anticipate", "predict", "seek", "should" or similar words or
expressions, are forward-looking statements. The future events
referred to in these forward-looking statements involve known and
unknown risks, uncertainties, contingencies and other factors, many
of which are beyond GOL's control, that may cause actual results,
performance or events to differ materially from those expressed or
implied in these statements. These forward-looking statements are
based on numerous assumptions regarding GOL's present and future
business strategies and the environment in which GOL will operate
in the future and are not a guarantee of future performance. Such
forward-looking statements speak only as at the date on which they
are made. None of GOL or any of its affiliates, officers,
directors, employees and agents undertakes any duty or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to
the extent required by law. None of GOL or any of its affiliates,
officers, directors, employees, professional advisors and agents
make any representation, warranty or prediction that the results
anticipated by such forward-looking statements will be achieved,
and such forward-looking statements represent, in each case, only
one of many possible scenarios and should not be viewed as the most
likely or standard scenario. Although GOL believes that the
estimates and projections in these forward-looking statements are
reasonable, they may prove materially incorrect and actual results
may materially differ. As a result, you should not rely on these
forward-looking statements.
Non-GAAP Measures
To be consistent with industry
practice, GOL discloses so-called non-GAAP financial measures which
are not recognized under IFRS or U.S. GAAP, including "Net Debt",
"Adjusted Net Debt", "total liquidity" and "EBITDA". The Company's
management believes that disclosure of non-GAAP measures provides
useful information to investors, financial analysts and the public
in their review of its operating performance and their comparison
of its operating performance to the operating performance of other
companies in the same industry and other industries. However, these
non-GAAP items do not have standardized meanings and may not be
directly comparable to similarly-titled items adopted by other
companies. Potential investors should not rely on information not
recognized under IFRS as a substitute for the GAAP measures of
earnings or liquidity in making an investment decision.
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SOURCE GOL Linhas Aéreas Inteligentes S.A.