SMBC Aviation Capital delivers strong financial performance for half year ended 30 September 2024 with 16% increase in profit before tax

HY 2024 Highlights – attractive opportunities to lease, re-lease and trade our assets locking in economic terms that will drive the profitability of our business for years to come:

• Profit before tax of $275 million, up 16% on the prior year’s period
• Took delivery of $1.7 billion of aircraft, growing the size of owned fleet to 516 aircraft as of 30 September
• Signed $3.2 billion of long-term leases over the last 6 months, including more than $1.1 billion of new lease arrangements with customers in Asia
• Signed contracts with two major North American operators for a total of 35 A321NEO aircraft
• Traded $411 million of predominantly mid-life aircraft, with further pipeline of $1.1 billion of asset sales over the coming months
• New technology aircraft now represent 70% of portfolio
• Raised $3 billion in third-party financing since 1 April to support the expansion of the business, including $1.9 billion of drawn funding alongside $1.1 billion of additional RCF capacity

Aisling Kenny, CFO of SMBC Aviation Capital, commented:

“SMBC Aviation Capital has delivered another strong set of results, with our profit before tax rising 16% on a year-on-year basis, driven by strong underlying market fundamentals and the continued optimisation of our portfolio through our sale and leasing activities.

Current market dynamics continue to present attractive opportunities to lease, re-lease and trade our assets, enabling us to lock in increasingly attractive terms with some of the strongest airline counterparties

The ongoing enhancement of our portfolio will drive the profitability of our business for years to come, supporting our ability to deliver stable, long-term, fixed-income style returns to our shareholders."

-ENDS-

CONTACTS:

Media:

Conor Irwin, SMBC Aviation Capital                +353 87 381 6106

Richard Webster-Smith, FGS Global               +44 20 7251 3801

Investors:

Shane St Ledger, SMBC Aviation Capital        +353 86 173

ABOUT SMBC AVIATION CAPITAL:

SMBC Aviation Capital is the second largest aircraft lessor globally by number of aircraft and benefits from the strong support of its shareholders Sumitomo Mitsui Financial Group and Sumitomo Corporation. SMBC Aviation Capital has a high-quality global airline customer base with a portfolio comprising 85% narrow-body aircraft and 70% new technology aircraft (by net book value). SMBC Aviation Capital has a strong capital position and holds an A- and BBB+ rating with S&P and Fitch respectively, reflecting the long-term strength of its business. For more information, please visit: https://www.smbc.aero/