SÃO PAULO, Dec. 10, 2021
/PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL"
or "Company"), (NYSE: GOL and B3: GOLL4),
Brazil's largest domestic
airline, today provides its preliminary financial outlook for 2022.
GOL's guidance reflects expected passenger and loyalty program
revenues, cash flow, interest expense, oil prices and exchange
rates, and fleet and network plans. The information below is
preliminary and unaudited.
The Company's guidance highlights key metrics which impact
financial results and drive long-term shareholder value. GOL
provides forward-looking information that is focused on the main
metrics the Company uses to measure business performance. These
indicators are useful for investors and analysts who project GOL's
results.
Highlights:
- To meet the expected domestic air travel demand for 2022 of
approximately 100 billion RPKs, the Company plans to operate an
average of 108 aircraft in its network during the year.
- Through the acceleration of its fleet transformation, including
the addition of 18 and 16 Boeing MAX aircraft in 2H21 and 2022,
respectively, GOL expects to end 2022 with 44 Boeing MAX aircraft
in its fleet.
- The Company's revenue for 2022 is expected to increase around
100% compared to 2021. GOL estimates that its 2022 results will
include R$1.2 billion of increased
cash flow from important transactions entered into in 2021
including R$450 million from the
re-incorporation of Smiles and R$700
million from the additional MAX aircraft in the fleet.
Financial
Outlook
|
2019A
|
2022E
|
Total fleet
(average)
|
126
|
135 - 140
|
Total operational
fleet (average)
|
113
|
105 - 110
|
ASKs, System (%
change yoy)
|
6.3%
|
70 - 80%
|
Seats, System (%
change)
|
6.2%
|
80 - 90%
|
Departures, System (%
change)
|
3.8%
|
80 - 90%
|
Average load factor
(%)
|
82%
|
~82%
|
Ancillary revenues.
net1 (R$bn)
|
0.8
|
~0.8
|
Total net revenues
(R$ billion)
|
13.9
|
~14.0
|
Non-fuel
CASK2 (US$ cents)
|
3.6
|
~3.3
|
Fuel liters consumed
(mm)
|
1,475
|
~1,295
|
Gross Global Scope 1
emissions (000 m t CO2)
|
3,744
|
~3,289
|
Total Fuel Consumed
(1.000 liters per RPK)
|
35.3
|
~34.6
|
GHG Emissions/Flight
Hour (t CO2)
|
8.7
|
~8.4
|
Fuel price
(R$/liter)
|
2.8
|
~3.8
|
EBITDA margin²
(%)
|
28%
|
~25%
|
EBIT margin²
(%)
|
15%
|
~11%
|
Net financial
expense3 (R$bn)
|
1.4
|
~1.8
|
Pre-tax
margin3 (%)
|
5%
|
~1%
|
Effective income tax
rate (%)
|
24%
|
~11%
|
Minority interest (R$
mm)
|
297
|
~0
|
Capex, net (R$
mm)
|
639
|
~700
|
MAX Aircraft
Acquisitions (R$mm)
|
-
|
~1,100
|
Aircraft Debt (7x
Annual Acft Lease Payments) (US$bn)
|
2.9
|
~3.3
|
Financial Debt
(US$bn)
|
2.0
|
~2.1
|
Net Debt4
/ EBITDA2 (x)
|
4x
|
~6x
|
Fully-diluted
shares out5 (mm)
|
391
|
~435
|
EPS, fully
diluted (R$)
|
1.90
|
~0.26
|
Fully-diluted ADS
out. 5 (mm)
|
195.5
|
~217.5
|
EPADS, fully diluted
(US$)
|
0.96
|
~0.10
|
(1) Cargo. loyalty. buy-on-board and other ancillary revenues;
(2) Recurring; (3) Excluding currency gains and losses and
Unrealized losses on Exchangeable Senior Notes; (4)
Including 7x annual aircraft lease payments and excluding perpetual
bonds; (5) Includes stock option exercises that may be issued from
the stock option program and related to Exchangeable Senior
Notes.
The current guidance may be adjusted in order to incorporate the
evolution of GOL's operating and financial performance and any
eventual changes to the Brazilian economy and GOL's broader
economic environment, including variations in economic growth,
interest rates, exchange rates, and international oil price
trends.
Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55(11) 2128-4700
About GOL Linhas Aéreas Inteligentes S.A.
GOL is Brazil's largest
airline. leader in the corporate and leisure segments. Since its
founding in 2001, it has been the airline with the lowest unit cost
in Latin America. which has
enabled the democratization of air transportation. The Company has
alliances with American Airlines and Air France-KLM, in addition to
making available to Customers many codeshare and interline
agreements, bringing more convenience and ease of connections to
any place served by these partnerships. With the purpose of "Being
First for Everyone". GOL offers the best travel experience to its
passengers, including: the largest inventory of seats and the most
legroom; the most complete platform with internet, movies and live
TV; and the best loyalty program. SMILES. In cargo transportation.
GOLLOG delivers parcels to various regions in Brazil and abroad. The Company has a team of
15.000 highly qualified airline professionals focused on Safety,
GOL's number one value, and operates a standardized fleet of Boeing
737 aircraft. GOL'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.