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Reported Late Tuesday, GOL Announces 4Q22 Investor Update; Announces Preliminary Unaudited Q4 EPADS Of $(1.20); Passenger Unit Revenue For Q4 Is Expected To Be Up ~20% YoY

Reported Late Tuesday, GOL Announces 4Q22 Investor Update; Announces Preliminary Unaudited Q4 EPADS Of $(1.20); Passenger Unit Revenue For Q4 Is Expected To Be Up ~20% YoY

周二晚间报道，GOL宣布第四季度投资者更新；宣布第四季度初步未经审计的EPADS为1.20美元；第四季度的乘客单位收入预计将同比增长约20%
Benzinga Real-time News ·  2023/01/04 00:38

GOL Linhas Aéreas Inteligentes S.A. (NYSE:GOL) ("GOL" or "Company"), Brazil's largest airline, today provides an Investor Update on its expectations for the fourth quarter of 2022. The information below is preliminary and unaudited. The Company will discuss its 4Q22 results in a conference call on March 2, 2023.

GOL Linhas AéReas Inteligentes S.A.(纽约证券交易所代码：GOL)(“GOL”或“公司”)，巴西最大的航空公司，今天提供了一个投资者动态对2022年第四季度的预期。以下信息是初步的，未经审计。该公司将在2023年3月2日的电话会议上讨论其第四季度业绩。

Overall Commentary
  • GOL expects a Loss Per Share (EPS) and Loss Per American Depositary Shares (EPADS) for 4Q22 of approximately R$2.31 and US$1.21, respectively.
  • EBITDA margin for the quarter is expected to be approximately 20%2.
  • Passenger unit revenue (PRASK) for the fourth quarter is expected to be up approximately 20% year over year, driven by the continued recovery in leisure travel demand combined with an increase in international travel. Smiles revenues increased by 64% when compared to same period of 2019 with a 21% growth in the customer base versus 4Q19. The total unit revenue (RASK) is expected to be up 23% year-over-year.
  • Non-fuel unit costs (CASK Ex-Fuel) are expected to decrease approximately 12% compared to the fourth quarter of the prior year, primarily due to an increase in ASKs and productivity (aircraft utilization and operating efficiency). Fuel unit costs (CASK Fuel) are expected to increase approximately 42% year over year, driven by an 45% increase in the average jet fuel price, partially offset by a reduction of approximately 2% in fuel consumption per flight hour due to the higher number of 737-MAXs in the fleet.
  • GOL's financial leverage, as measured by Net Debt3 / EBITDA2,4 ratio was approximately 10x at the end of December 2022 quarter (approximately 8x in IFRS-16). Total liquidity at quarter-end is expected to be at R$ 3.6 billion5.

总评
  • GOL预计22财年第四季度每股亏损(EPS)和每股美国存托股份亏损(EPADS)分别约为2.31雷亚尔和1.21美元。
  • 本季度的EBITDA利润率预计约为20%2。
  • 在休闲旅行需求持续复苏和国际旅行增加的推动下，第四季度的客运单位收入(PRASK)预计将同比增长约20%。与2019年同期相比，微笑收入增长了64%，客户基础与19年第四季度相比增长了21%。预计总单位收入(RASK)将同比增长23%。
  • 与去年第四季度相比，非燃料单位成本(不含燃料的木桶)预计将下降约12%，这主要是由于要求和生产率(飞机利用率和运营效率)的增加。燃料单位成本(桶燃料)预计将同比增长约42%，这是由于平均喷气燃料价格上涨45%，但由于机队中737-MAX的数量增加，每飞行小时的燃油消耗减少了约2%，这部分抵消了这一增长。
  • 截至2022年12月季度末，GOL的财务杠杆，以净负债3/EBITDA2，4比率衡量，约为10倍(按IFRS-16约为8倍)。季度末的总流动资金预计为36亿雷亚尔5。

Preliminary and Unaudited Projection




December Quarter 2022

EBITDA Margin2

~20%

EBIT Margin2

~ 11%

Other Revenue (cargo, loyalty, other)

~7% of total revenues

Average fuel price per liter

R$ 6.05

Average Exchange rate

R$ 5.26




December Quarter 2022 vs.
December Quarter 2021

Passenger unit revenue (PRASK)

Up ~20%

CASK Ex-fuel2

Down ~12%

Total Demand - RPK

Up ~27%

Total Capacity - ASK

Up ~31%

Total Capacity - Seats

Up ~28%

初步和未经审计的预测




2022年12月季度

息税前利润2

~20%

息税前利润2

~ 11%

其他收入(货运、忠诚度、其他)

~总收入的7%

每升平均燃油价格

R$ 6.05

平均汇率

R$ 5.26




2022年第12月季度与
2021年12月季度

客运量单位收入(PRASK)

上涨约20%

木桶不含燃料2

下跌约12%

总需求-RPK

上涨约27%

总容量-ASK

上涨约31%

总载客量-座位

上涨约28%

1. Excluding gains and losses on currency and Exchangeable Senior Notes.
2. Excluding non-recurring results of approximately $100 million.
3. Including 7x annual aircraft lease payments and excluding perpetual bonds.
4. Last twelve months.
5. Cash and cash equivalents, restricted cash, accounts receivable and deposits.

1.不包括货币及可交换优先票据的损益。
2.不包括大约1亿美元的非经常性结果。
3.包括每年7倍的飞机租赁费，不包括永久债券。
4.过去12个月。
5.现金和现金等价物、限制性现金、应收账款和存款。

GOL Investor Relations
ri@voegol.com.br
+55(11) 2128-4700

GOL投资者关系
邮箱：ri@voegol.com.br
+55(11) 2128-4700

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