Financials AirAsia Group

Equities

Delayed BURSA MALAYSIA Other stock markets 02:12:52 11/02/2026 pm IST			5-day change	1st Jan Change
0.5800 ^MYR	-1.69%		-2.52%	+39.76%

23/01	Airbus nears deal to sell around 100 A220 jets to AirAsia, sources say	RE
23/01	Malaysia's AirAsia X says it continuously explores debt refinancing opportunities	RE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	2,844	996.7	6,606	14,772	1,498	22,438	24,162	26,152
Change	-	-64.96%	562.79%	123.6%	-89.86%	1,398.1%	7.68%	8.23%
EBITDA ¹	-630	-1,072	360.9	2,009	-663.2	3,932	3,692	3,864
Change	-	-70.09%	133.68%	456.77%	-133%	692.86%	-6.08%	4.66%
EBIT ¹	-2,700	-2,823	-1,126	280.5	-765.3	2,136	2,234	2,442
Change	-	-4.57%	60.1%	124.9%	-372.85%	379.12%	4.56%	9.31%
Interest Paid	-602	-648.1	-1,039	-1,199	-154.6	-	-	-
Earnings before Tax (EBT) ¹	-5,584	-3,768	-3,169	533.4	-961.1	658	550	838.4
Change	-	32.52%	15.89%	116.83%	-280.17%	168.46%	-16.4%	52.42%
Net income ¹	-5,097	-3,119	-2,480	837	-475.1	687.1	803.4	859.7
Change	-	38.81%	20.47%	133.75%	-156.76%	244.62%	16.93%	7%
Announcement Date	29/03/21	28/02/22	28/02/23	29/02/24	28/02/25	-	-	-

¹MYR in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2024 Q1
Net sales ¹	233.4	205.1	187.8	118	462.5	-	-	1,961	2,368	2,530	5,241
Change	-	-12.15%	-8.43%	-37.15%	291.87%	-	-	-	20.77%	6.82%	107.19%
EBITDA	-213.4	-202.2	-196.8	-280.3	-366	-308.6	-	72.25	488.6	502.2	-
Change	-	5.25%	2.68%	-42.45%	-30.6%	15.7%	-	-	576.26%	2.79%	-
EBIT	-701.7	-648.1	-652.7	-733.6	-789.1	-689.4	-	-314.6	141	138.5	-
Change	-	7.64%	-0.72%	-12.39%	-7.56%	12.64%	-	-	144.81%	-1.8%	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-808.9	-726.8	-1,112	-964	-1,076	-	-1,154	175.4	-	-
Change	-	-	10.15%	-52.94%	13.27%	-11.66%	-	-	115.2%	-	-
Net income ¹	-2,445	-588.1	-580.1	-887	-884.1	-903.8	-931.2	-901.3	256.2	-	-91.55
Change	-	75.94%	1.37%	-52.92%	0.33%	-2.23%	-3.04%	3.21%	128.42%	-	-
Announcement Date	29/03/21	27/05/21	08/09/21	22/11/21	28/02/22	26/05/22	26/08/22	30/11/22	28/02/23	28/04/23	29/05/24

¹MYR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt	13,479	15,472	17,393	22,982	1,147	-	-	603
Change	-	14.79%	12.42%	32.13%	-95.01%	-	-	-
Announcement Date	29/03/21	28/02/22	28/02/23	29/02/24	28/02/25	-	-	-

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	172.2	27.18	26.73	272.4	206	200	150	65
Change	-	-84.21%	-1.66%	919.19%	-24.38%	-2.92%	-25%	-56.67%
Free Cash Flow (FCF) ¹	-2,324	-362.4	-14.67	774.3	3,138	-	-	314.2
Change	-	84.4%	95.95%	5,378.45%	305.23%	-100%	-	-
Announcement Date	29/03/21	28/02/22	28/02/23	29/02/24	28/02/25	-	-	-

¹MYR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-22.15%	-107.5%	5.46%	13.6%	-44.28%	17.52%	15.28%	14.78%
EBIT Margin (%)	-94.93%	-283.27%	-17.05%	1.9%	-51.1%	9.52%	9.24%	9.34%
EBT Margin (%)	-196.31%	-378.04%	-47.97%	3.61%	-64.16%	2.93%	2.28%	3.21%
Net margin (%)	-179.18%	-312.88%	-37.54%	5.67%	-31.72%	3.06%	3.33%	3.29%
FCF margin (%)	-81.7%	-36.36%	-0.22%	5.24%	209.5%	-	-	1.2%
FCF / Net Income (%)	45.6%	11.62%	0.59%	92.52%	-660.45%	-	-	36.55%
Profitability
ROA	-15.61%	-14.4%	-9.84%	3.5%	-1.64%	2.93%	4.8%	5.33%
ROE	-217.8%	127.58%	-	-	-	-	26.35%	23.65%
Financial Health
Leverage (Debt/EBITDA)	-21.4x	-14.44x	48.2x	11.44x	-1.73x	-	-	0.16x
Debt / Free cash flow	-5.8x	-42.69x	-1,185.65x	29.68x	0.37x	-	-	1.92x
Capital Intensity
CAPEX / Current Assets (%)	6.05%	2.73%	0.4%	1.84%	13.75%	0.89%	0.62%	0.25%
CAPEX / EBITDA (%)	-27.33%	-2.54%	7.41%	13.56%	-31.07%	5.09%	4.06%	1.68%
CAPEX / FCF (%)	-7.41%	-7.5%	-182.22%	35.18%	6.57%	-	-	20.69%
Items per share
Cash flow per share ¹	-0.6438	-0.0892	0.00298	0.2501	0.7801	1.7	1.7	-
Change	-	86.15%	103.34%	8,292.62%	211.92%	117.92%	0%	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-0.37	-0.8	-1.425	-2.081	-2.04	-2.2	-2	-1.7
Change	-	-116.22%	-78.11%	-46.07%	1.98%	-7.84%	9.09%	15%
EPS ¹	-1.525	-0.83	-0.612	0.2	-0.111	0.1702	0.1975	0.2
Change	-	45.57%	26.27%	132.68%	-155.5%	253.38%	16.01%	1.27%
Nbr of stocks (in thousands)	33,41,974	38,98,053	41,61,793	42,54,582	43,30,434	44,60,311	44,60,311	44,60,311
Announcement Date	29/03/21	28/02/22	28/02/23	29/02/24	28/02/25	-	-	-