SÃO PAULO, Oct. 12,
2022 /PRNewswire/ -- GOL Linhas Aéreas
Inteligentes S.A. (NYSE: GOL and B3: GOLL4) ("GOL" or
"Company"), Brazil's largest airline, today provides
an Investor Update on its
expectations for the third quarter of 2022. The information below
is preliminary and unaudited. The Company will discuss its 3Q22
results in a conference call on October 27,
2022.
Comentário Geral
- GOL expects a Loss Per Share (EPS) and Loss Per American
Depositary Shares (EPADS) for 3Q22 of approximately R$1.81 and US$0.71, respectively.
- EBITDA margin for the quarter is expected to be approximately
15%.
- Passenger unit revenue (PRASK) expected for the third quarter
to be up approximately 45% year over year, boosted by the continued
growth in domestic demand for leisure travel combined and the
gradual recovery in international travel. Smiles revenues increased
by 53% when compared to same period of 2019 with a 31% growth in
the customer base versus 3Q19. The total unit revenue (RASK) is
also expected to be up approximately 45% year over year.
- Non-fuel unit costs (CASK Ex-Fuel) are expected to decrease
approximately 25% compared to the third quarter of the prior year,
primarily due to increase in ASKs, productivity (aircraft
utilization and operating efficiency). Fuel unit costs (CASK Fuel)
are expected to increase approximately 87% year over year, driven
by an 89% increase in the average jet fuel price, partially offset
by a reduction of approximately 4% in fuel consumption per flight
hour due to the higher number of 737-MAXs in the fleet.
- GOL's financial leverage, as measured by Net Debt2 /
EBITDA3 ratio was approximately 10x at the end of
September 2022 quarter. Total
liquidity at quarter-end is expected to be at R$ 3.6 billion4.
Preliminary and Unaudited
Projection
|
|
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September Quarter 2022
|
EBITDA
Margin
|
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~15%
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|
EBIT Margin
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~5%
|
|
Other Revenue (cargo,
loyalty, other)
|
~6% of total
revenues
|
Average fuel price per
liter
|
|
R$ 6.62
|
|
Average Exchange
rate
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R$ 5.30
|
|
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September Quarter 2022 vs.
September Quarter 2021
|
|
|
|
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Passenger unit revenue
(PRASK)
|
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Up ~45%
|
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CASK Ex-fuel
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Down ~25%
|
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Total Demand -
RPK
|
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Up ~42%
|
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Total Capacity -
ASK
|
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Up ~43%
|
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Total Capacity -
Seats
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Up ~40%
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1. Excluding gains and losses on
currency and Exchangeable Senior Notes.
2.
Including 7x annual aircraft lease payments and excluding perpetual
bonds.
3. Last twelve
months
4. Cash and cash
equivalents, restricted cash, accounts receivable and
deposits.
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
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/ir.
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.