SÃO PAULO, July 28,
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$). The information
below is preliminary and unaudited.
GOL is updating its financial forecasts given the consecutive
increases in Brazilian jet fuel prices since the beginning of the
year, as well as pass-through effects on fares, resulting in higher
sales and revenue levels. For 2022, the Company reinforces its
focus on fleet transformation and expects that, by the end of the
year, 44 737-MAX aircraft will be operating, which is around 32% of
the total fleet.
To help investors and analysts understand how GOL addresses its
near-term planning, the Company shares the following
indicators:
Financial
Outlook
|
2022E
Previous
|
2022E
Updated
|
Total fleet
(average)
|
130 – 140
|
132 – 138
|
Total operational fleet
(average)
|
100 – 105
|
101 – 104
|
ASKs, System (% change
yoy)
|
65 – 75%
|
55 – 65%
|
Seats, System (% change
yoy)
|
65 – 75%
|
55 – 65%
|
Departures, System (%
change yoy)
|
65 – 75%
|
55 – 65%
|
Average load factor
(%)
|
~82%
|
~80%
|
Ancillary revenues.
net1 (R$bn)
|
~0.8
|
~1.0
|
Total net revenues (R$
billion)
|
~13.7
|
~15.4
|
Non-fuel
CASK2 (US$ cents)
|
~3.3
|
~3.5
|
Fuel liters consumed
(mm)
|
~1,200
|
~1,150
|
Gross Global Scope 1
emissions (000 m t CO2)
|
~3,060
|
~2,950
|
Total Fuel Consumed
(1.000 liters per RPK)
|
~34.6
|
~33.7
|
GHG Emissions/Flight
Hour (t CO2)
|
~8.4
|
~8.4
|
Fuel price
(R$/liter)
|
~4.3
|
~5.7
|
EBITDA margin²
(%)
|
~24%
|
~20%
|
EBIT margin²
(%)
|
~10%
|
~8%
|
Net financial
expense3 (R$bn)
|
~1.8
|
~1.8
|
Pre-tax
margin3 (%)
|
~0%
|
~0%
|
Effective income tax
rate (%)
|
~0%
|
~0%
|
Capex,
net4 (R$ mm)
|
~700
|
~700
|
MAX Aircraft
Acquisitions (R$mm)
|
~1,100
|
~1,000
|
Aircraft Debt (7x
Annual Acft Lease Payments) (US$bn)
|
~3.3
|
~3.2
|
Financial Debt
(US$bn)
|
~2.1
|
~2.0
|
Net Debt5 /
EBITDA2 (x)
|
~8x
|
~8x
|
Fully-diluted shares
out6 (mm)
|
~435
|
~455
|
EPS, fully
diluted (R$)
|
~0
|
~NA
|
Fully-diluted ADS
out.6 (mm)
|
~217.5
|
~227,2
|
EPADS, fully diluted
(US$)
|
~0
|
~WQNA
|
(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
capitalized 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 France-KLM, 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
14,000 highly qualified aviation professionals focused on Safety,
GOL's #1 value, and operates a standardized fleet of 144 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.