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Avolon Reports Full Year Net Income up 79% and Record Operating Cashflow

1. Avolon reported a 79% rise in net income for FY24. 2. Total available liquidity grew 61% to $11.6 billion. 3. Operating cashflow reached a record $2 billion, up 15%. 4. The acquisition of Castlelake Aviation added 116 aircraft. 5. Positive outlook from credit ratings agencies strengthens market position.

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Why Bullish?

Avolon's strong financial growth and liquidity suggest potential benefits for M, similar to past market reactions to strong earnings reports.

How important is it?

The strategic financial growth signals a robust outlook which could influence investor sentiment positively.

Why Long Term?

The growth strategies outlined indicate continuous support for M's price over time, as Avolon capitalizes on its position.

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AvolonM
DUBLIN--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, announces results for the full year, 2024. 2024 | FINANCIAL HIGHLIGHTS Income Statement (US$M) FY24 FY23 US$ Change % Change Lease Revenue 2,582 2,473 +109 +4% Operating Cashflow 2,008 1,751 +257 +15% Net Income 608 339 +269 +79% Adjusted Net Income 458 339 +119 +35% Balance Sheet (US$M) December 31, 2024 December 31, 2023 US$ Change % Change Total Available Liquidity 11,634 7,228 +4,406 +61% Total Assets 33,637 30,513 +3,124 +10% Unsecured Debt / Total Debt 67% 63% +4% N/A Net Debt to Equity 2.1x 2.2x (0.1x) N/A - Net Income of US$608 million for 2024, up 79% year on year; - Adjusted Net Income of US$458 million, up 35% year on year, excludes US$177 million of settlement proceeds (US$150 million net of tax) from insurance claims in respect of our aircraft previously leased to certain Russian airlines; - Total available liquidity of US$11.6 billion, including US$3.1 billion of unrestricted cash and US$7.2 billion in undrawn debt facilities; - Generated record Operating Cashflow of US$2.0 billion, up 15% year on year; - Contracted US$14 billion of funding across the public and private markets, of which 79% was unsecured; - Net debt to equity of 2.1 times, Unsecured to Total Debt ratio of 67% and US$20 billion of unencumbered assets; and, - Investment grade ratings on positive outlook at both Moody’s (Baa3) and Fitch (BBB-). 2024 | BUSINESS HIGHLIGHTS - Post year end, closed and fully integrated the acquisition of Castlelake Aviation Limited (‘CA Ltd’), adding 116 aircraft to Avolon’s owned and committed fleet; - Acquired 45 new aircraft and transitioned 23 aircraft to 25 customers; - Placed 30 aircraft from our orderbook during the year. Ended the year with our orderbook 100% placed for next 24 months; - Entered into agreements for the sale and leaseback of 37 new aircraft; - Sold 55 aircraft in 2024 and ended the year with 64 aircraft agreed for sale; and, - At year-end, Avolon had an owned, managed and committed fleet of 1,129 aircraft including the acquisition of CA Ltd. Andy Cronin, Avolon CEO, commented: “2024 was a successful year for Avolon. We delivered growth across all our key financial and operational metrics, including net income growth of 79% and a record US$2 billion of operating cashflow. Our in-demand assets and orderbook of new-technology aircraft position us well to capitalise on an attractive market backdrop, enhancing our earnings profile and supporting our path towards higher credit ratings.” About Avolon Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 140 airlines in 59 countries, Avolon has an owned, managed, and committed fleet of 1,129 aircraft, as of 31 December 2024 including the acquisition of Castlelake Aviation Limited. www.avolon.aero

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