【ノート】
◎This slide shows cash flow.
◎As shown at the bottom left, over the 5-year period between fiscal 2018 and 2022, we plan to secure a total of 195.0 billion yen in free cash flow. We will continue with aggressive capital expenditures. As shown in Table 1) to the right, EBITDA is projected to exceed the capital expenditure during this strategy period. From fiscal 2021, we expect free cash flow to increase significantly.
◎Capital expenditures are shown in Table 2). In addition to aircraft investments, other capital expenditures will continue at a high rate through fiscal 2018. This includes construction costs for “the ANA Group Training Center. “ Currently, we are planning to consolidate facilities around Haneda airport to achieve efficient training while increasing safety, the foundation of our management. We are also advancing with investments in human resources, which is supporting quality and services.
◎Please see page 17.