agm 2010 slidesv9 - regional express · 2017. 9. 20. · microsoft powerpoint - agm 2010...
TRANSCRIPT
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REX AGM 2010
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“AGAINST ALL ODDS”
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PERFORMANCE
Record Net Profit After Tax of $24.6m
Total Revenue reduced by 8.5% to $229.7m
Passenger numbers declined by 5.0% to 1.24m
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REX GROUP FINANCIALS
Rex Group Revenue and PAT Evolution
$24.6M
$23.0M
$24.3M
$15.7M
$6.5M
$1.0M
-$30.3M
$23.6M $221.1M
$244.1M$256.1M
$170.8M
$142.3M
$110.5M
$83.8M
$223.9M
-$10
-$5
$0
$5
$10
$15
$20
$25
$30
-$100
-$80
-$60
-$40
-$20
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$220
$240
$260
Operating Revenue
FY03 FY04 FY05 FY06 FY07 FY08 FY10 FY09
GFC
GFC = Global Financial Crisis
NPAT
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PILOT SITUATION
Resignation rates remained low
Cadet Programme enabled surplus pilot numbers
0.2% cancellation rate, the lowest in Australia and consistent with past levels before the pilot crisis of 07/08
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REX PILOT ATTRITION
17%
7%
50%
14%15%
0
10
20
30
40
50
60
70
80
90
100
110
120
FY06 FY07 FY08 FY09 FY10
Resignation
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NETWORK CHANGES
Resumed Griffith – Melbourne in Q2
Q2 started Townsville - Mackay in competition with QantasLink
Exit of Townsville – Mackay in Jan 2010 due to QantasLink predatory pricing
Q3 commenced Northern 1 & 2 QLD Gov subsidised routes
Commenced Townsville – Mount Isa direct service in Feb 2010
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FUEL
20% lower fuel prices compared to previous FY
Fuel Spend FY0506 - FY0910
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
FY05/06 FY06/07 FY07/08 FY08/09 FY09/10
Fu
el
Sp
en
d (
A$
M)
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INDUSTRY RECOGNITION
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CAPITAL EXPENDITURE
Completed $21m pilot academy (AAPA) based in Wagga Wagga
Acquired 4 Kingairs for $29m (bank financed)
Acquired a $1.4m warehouse next to the Rex HQ
Purchased a $1.2m house next to Rex HQ
Share Buy Back of 494k shares ($377k)
$10m of investment brought forward to benefit from Government’s Investment Allowance scheme
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FLEET
Rex took delivery of last 8 Saab 340B+ leased aircraft
AAPA took delivery of 8 new Piper Warrior and 2 new twin engine Piper Seminole aircraft
Pel-Air took delivery of 4 new BeechcraftKingair B200 C aircraft for AV project
No disposal of aircraft in the period
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TENDER UPDATE
Fly in/Fly out contract with Illuka Resources
Cwlth Air Transport Deed of Standing Offer
QLD regulated and subsidised N1 & N2 routes
Air Ambulance Victoria
Whole of Australian Gov travel
Victorian Gov tender for the provision of Domestic/Regional Air services
Tenders Won
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TENDER UPDATE
NT aero medical service
Air Defence Target System (JP66)
Tenders Pending
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OUR SUBSIDIARIES
Pel-Air
Reduced jet medivac operations
Fly in/fly out business continued to grow in line with resource strength
Stationed 1 A model Saab in QLD to capture growth opportunities in the resources industry
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OUR SUBSIDIARIES
Air Link
Continued developing charter service and growing 3rd party aircraft maintenance business
Commenced FIFO operation out of Townsville with B1900
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OUR SUBSIDIARIES
AAPA
Received occupancy cert in Jan 2010
Attained RTO and CRICOS accreditation in Q3 –ready to accept overseas students
35 cadets from intakes 1 & 2 graduated whilst 29 were under training
Campus officially opened on 27 May 2010 by Minister Anthony Albanese
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OUR SUBSIDIARIES
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REX IN THE COMMUNITY
Moruya City Mayor Fergus Thomson, President of Moruya Jazz Festival Roger Bayley & Rex Ambassador Max Kingston leading the parade
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REX IN THE COMMUNITY
Rex donated in excess of A$ 100,000 to various charitable causes in FY0910:
Country Hope in the Riverina
Dragon Abreast Orange
Muscular Dystrophy Association
Royal Institute for Death and Blind Children
Multiple Sclerosis Society
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DIVIDEND
Final dividend FY09-10 : 6.6 cents per share, fully
franked, payable in Nov 2010
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THANK YOU
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PROXY SUMMARY
AGM 2010 Proxy Results
99.0%
For98.71%
For
0.65%
Open
0.57%
Open0.34%
Against
0.72%
Against
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
Resolution 1:
Adoption of remuneration report
Resolution 2:
Re-election of David Miller as director
Resolution
Perc
en
tag
e o
f V
alid
Vo
tes R
eceiv
ed
FOR OPEN AGAINST