18-Nov-2013 6:50 AM
International Airlines Group Capital Markets Day
Direct News Source
15-Nov-2013 At its Capital Markets Day today (November 15, 2013) IAG will update the market with the following information:
- IAG is targeting a €1.8 billion operating profit in 2015, up from €1.6 billion through:
- Impact of Vueling integration and performance
- Improved margins in British Airways increasing the 2015 operating profit target from £1.1 billion to £1.3 billion
- Iberia recovery plan on track with improvement expected
- Additional contribution coming from British Airways and Vueling growth
- Aiming for a level of EPS ≥ €0.54 (RoIC ≥ 12 per cent)
- Keeping 2015 leverage at around 55 per cent (pre IAS19)
- Heading for a business model that could sustain organic growth levels of 2-3 per cent (excluding Vueling) beyond 2015
- Assuming capex of €2.0 - €2.2 billion per year
- Providing market level returns for our shareholders
The presentations from the Capital Markets Day can be accessed via www.iairgroup.com and a webcast of the event will be available today from 0900 GMT/1000 CET.