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					1time holdings Limited

IAS Presentation
16 October 2008
           Business of the Group
1time is a diversified aviation group established in 2003

Wholly owned subsidiary companies

  1time Airline

  Aeronexus Technical

  1time Charters
1time Airline
Domestic Airline Route Map
               Domestic Airline
•    Will carry 1,5 million passengers in 2008
•    Market promise: “More Nice. Less Price.”
•    Employs 552 people
•    Low cost business model
•    Market share – 14%
•    Feather awards
•    Oil price volatility
•    1 000 flights per month
Aeronexus Technical
      Aircraft Maintenance
•  Highly regulated
•  Full maintenance service
•  Own and 3rd party aircraft
•  High margin: Sell Rand labour in
   USD
•  Natural hedge in the group
1time Charters
            1time Charters

•  Fleet of four DC9-30 aircraft

•  One B727 VIP Jet

•  Domestic and international charters

•  US Dollar income
Financial Highlights
                 Income Statement
                 Actual   Actual   Actual   Actual     %
                  2004     2005     2006     2007    Change
                  R’m      R’m      R’m      R’m
Revenue          182,1    370,3    496,2    674,6     36%

Operating         5,1     (13,2)   32,7     35,6      9%
Profit
Attributable      1,2     (13,0)   24,5     28,6      15%
Earnings
Headline EPS       -        -      10.7c    15.7c     47%

Earnings/share     -        -      13.6c    14.9c     10%
                   Balance Sheet

                  Actual   Actual   Actual   Actual
                   2004     2005     2006     2007
                   R’m      R’m      R’m      R’m

Capital &          9,5      2,8     38,2     104,9
Reserves
Cash              13,3     20,2     33,6     25,9

Aircraft assets   14,4     42,6     84,8     222,2

Aircraft debt      8.1     16.2     36,8     82,7
                     Cash Flow
                  2005     2006      2007
                  R’m      R’m       R’m

Cash at           12.6     19.7      32.3
beginning
From operations   28.8     32,4      60,7
Investing         (26.8)   (47,6)   (143,1)
activities
Financing          5.1     27,7      75,9
Cash at end       19.7     32.3      25,9
         Interim results

•  R5.7 million EBITDA
•  Passenger growth 28%
•  Revenue growth 54%
•  Fuel increase 91%
•  Cash generated from ops R25
mill
Share performance
•  Shares in issue          210 Million
•  Share price at listing   R1
•  Current share price      48 cents
•  Market cap               98,7 million
•  Headline EPS (2007)           15.7
cents
•  PE                       3.0
         1time Holdings Limited
Shareholding
•  Management (5 founders)   53%
•  Avstar                    16%
•  BEE                       3%
•  Public                    10%
•  Institutions              18%
                 Comparison
                      Comair   1time

Aircraft fleet         21       9
Aircraft book value   R652     R222

Aircraft debt         R296     R82

Lease                 R457     R12
commitments
Shareholder funds     R425     R105
Effective gearing     177%     90%
Fleet age              23       20
(31/12/07)
Stage 3 aircraft       15       8
Stage 2 aircraft        6       0
Prospects
          Growth Opportunities
•  Airline
   –  Domestic market growth
   –  Africa and open skies
   –  Ancillary revenue
   –  Lanseria and competition commission
•  Technical maintenance
   –  Safair Technical Purchase
•  Charters
   –  VIP Jet
   –  Africa

				
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