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ANA returns to profitability in 1HFY2011, upgrades guidance

1-Nov-2010 12:08 PM

All Nippon Airways (ANA) revenue up 12% - financial highlights for the six months ended 30-Sep-2010:

  • Revenue*: USD8,446 million, +11.8% year-on-year;
    • Air transportation: USD7,554 million, +13.3%;
    • Travel business: USD1,049 million, -2.9%;
  • Operating costs: USD7,745 million, -2.0%;
  • Operating profit USD701.3 million, compared with a loss of USD348.2 million in p-c-p;
    • Air transportation: USD634.6 million, compared with a loss of USD354.4 million in p-c-p;
    • Travel business: 32.1 million, compared with a loss of USD7.4 million in p-c-p;
  • “Recurring profit”: USD561.8 million, compared with a loss of USD512.8 million in p-c-p;
  • Net profit: USD163.9 million, compared with a loss of USD313.3 million in p-c-p;
  • Total assets: USD25,053 million, +9.1% when compared with the period ended 31-Mar-2010;
  • Cash and marketable securities: USD7,080 million, +36.0% when compared with the period ended 31-Mar-2010;
  • Total liabilities: USD19,135 million, +12.4% when compared with the period ended 31-Mar-2010;
  • Passenger numbers: 23.6 million, +5.2%;
    • Domestic: 21.0 million, +3.7%;
    • International: 2.6 million, +19.0%;
  • Passenger load factor: 70.1%, +5.7 ppts;
  • Cargo volumes: 491,877 tons, +18.0%;
    • Domestic: 219,000 tons, -4.4%;
    • International: 272,000 tons, +45.6%;
  • FY2011 forecast:
    • Operating revenue: USD17,001 million, +12.1%;
    • Operating profit: USD864.3 million;
    • “Recurring profit”: USD456.8 million;
    • Net profit: USD74.1 million. [more]

*Based on the conversion rate at USD1 = JPY80.9925

ANA: “In 3Q and beyond, ANA will take full advantage of the enormous business opportunity represented by the expansion of Tokyo's Haneda Airport, working to strengthen competitiveness and stimulate demand while moving ahead to curb expenses through continuing cost structure reforms. While the Japanese economy is showing signs of picking up along with the global economic recovery focused primarily in Asia, employment conditions remain severe, and a suddenly stronger yen, along with sluggish stock prices, make taking an optimistic view difficult,” Company statement. Source: ANA: 29-Oct-2010.