Swissport Group S.à r.l. (together with its subsidiaries, "Swissport") intends to refinance some of Swissport’s outstanding debt. The anticipated proceeds from the refinancing are expected to be used to repay/redeem existing debt. Estimated revenue for the first half of 2019 increased to EUR 1,526.0 million compared to EUR 1,437.9 million in the first half of 2018 (or EUR 1,472.4 million in constant currency).

Swissport Group S.à r.l. (together with its subsidiaries, "Swissport"), an indirect parent company of Swissport International AG, Swissport Financing S.à r.l. and Swissport Investments S.A., intends to refinance some of Swissport's outstanding debt with new senior credit facilities and new notes. The anticipated proceeds are expected to be used to repay and redeem existing debt and some of Swissport's currently outstanding notes, respectively.

The refinancing is comprised of a new EUR 75.0 million revolving credit facility, a new EUR 50.0 million delayed draw loan facility, an aggregate principal amount of EUR 1,230.0 million across a new term loan B facility and an offering of new euro-denominated senior secured notes, along with an offering of EUR 280.0 million of new euro-denominated senior notes.

The consummation and actual terms of the refinancing, including the notes offering, are subject to a number of factors, including market conditions, negotiation and execution of definitive documents and satisfaction of customary closing conditions. There can be no assurance that Swissport will enter into the Senior Credit Facilities or complete the Refinancing at all. This communication shall not constitute an offer to sell or a solicitation of an offer to purchase any other loans or securities of Swissport. 

Select preliminary financial results for the second quarter and the first half of 2019
The select preliminary financial results for second quarter and the first half ending 30 June 2019 are derived from Swissport's preliminary management accounts and have not been audited, reviewed or verified by Swissport's independent auditors. The following information reflects Swissport's preliminary estimates with respect to some of such results based on the information currently available. Swissport’s operating EBITDA (IFRS 16 Adjusted) presented below means Swissport’s Operating EBITDA calculated on a pre-IFRS 16 basis. Such adjustments are still preliminary and subject to Swissport’s review. Swissport’s Operating EBITDA (IFRS 16 Adjusted) is not a financial measure that Swissport expects to report on a periodic basis.

Swissport’s revenue for the second quarter ending June 30, 2019 increased to EUR 776.5 million compared to EUR 753.7 million for the second quarter 2018 (or EUR 769.3 million on a constant currency basis). This is an increase of 3.0% compared to the same period 2018 (or 0.9% on a constant currency basis). Operating EBITDA (IFRS 16 adjusted) for the period remained roughly stable at EUR 76.2 million compared to EUR 76.4 million for the second quarter 2018 (or EUR 78.0 million on a constant currency basis). Without IFRS 16 adjustments operating EBITDA amounted to EUR 109.9 million for the second quarter of 2019.

Revenue for the first half of 2019 ending 30 June 2019 increased to EUR 1,526.0 million compared to EUR 1,437.9 million for the first half of 2018 (or EUR 1,472.4 million on a constant currency basis). This represents an increase of 6.1% year on year (or 3.6% on a constant currency basis). Swissport’s operating EBITDA (IFRS 16 adjusted) for the six months ending 30 June 2019 increased to EUR 121.9 million compared to EUR 113.7 million for the same period in 2018 (or EUR 116.5 million on a constant currency basis), representing an increase of 7.3% year on year (or 4.6% on a constant currency basis). Without IFRS 16 adjustments operating EBITDA amounted to EUR 191.4 million for the first half of 2019.

The results were driven by organic volume growth, by Swissport's acquisition of Aerocare in March 2018, as well as a strong de-icing season in the first three months of 2019 and continued growth in the Middle East in the three months ending June 30, 2019. Selected exits from businesses, which had been loss-making for an extended period, contributed to the improved operating EBITDA result, too.

This communication contains inside information by Swissport under Regulation (EU) 596/2014 (16 April 2014) and Implementing Regulation (EU) No 2016/1055 (10 June 2016).

Disclaimer

This communication is for information purposes only and is not an offer to sell or a solicitation of offers to purchase or subscribe for securities in the United States of America or in any other jurisdiction.  This communication is not a prospectus within the meaning of Articles 652a or 1156 of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or a prospectus under any other applicable laws. A decision to invest in securities of Swissport should be based exclusively on the issue and listing prospectus to be published by Swissport for such purpose.

This communication is not for release or publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan or any other jurisdiction where to do so would be unlawful.  This communication does not constitute or form part of an offer of securities for sale or solicitation of an offer to purchase securities in the United States, Canada, Australia, Japan or in any other jurisdiction in which such offer may be restricted.  

This communication is directed only at (a) persons who are located outside the United Kingdom or (b) persons who are located in the United Kingdom who: (i) are qualified investors within the meaning of the UK Financial Services and Markets Act 2000 (as amended) and any relevant implementing measures or (ii) have professional experience in matters relating to investments who fall within the definition of "investment professionals" contained in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) are persons falling within article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or (iv) are other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons referred to in (i) to (iv) above together being referred to as "Relevant Persons").  Any person who is not a Relevant Person must not act or rely on this communication or any of its contents.  Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This communication does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Prospectus Directive. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any member state of the European Economic Area (each an "EEA Member State") that has implemented Directive 2003/71/EC (as amended, including by Directive 2010/73/EU, and together with any applicable implementing measures in any EEA Member State, the "Prospectus Directive") is only addressed to qualified investors in that EEA Member State within the meaning of the Prospectus Directive.

MiFID II professionals / ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II product governance) for any securities is expected to be eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) will be prepared as no securities are intended to be made available to retail in EEA. 

This communication may contain specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Swissport and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. The forward-looking statements and information contained in this communication are made as of the date hereof and Swissport assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

In 2018, Swissport International AG provided best-in-class airport ground services for some 282 million airline passengers and handled roughly 4.8 million tons of air freight in 115 cargo warehouses worldwide. Several of its warehouses have been certified for pharmaceutical logistics by IATA’s CEIV. Theworld's leader in airport ground services and air cargo handling, with 66,000 employees, achieved consolidated operating revenue of 2.99 billion euros in 2018. At the end of June 2019, Swissport was active at 310 airports in 49 countries on six continents.