JAL Group operating profit down 2% in nine months to Dec-2012, raises full-year forecast

JAL Group revenue up 4% - financial highlights for nine months ended 31-Dec-2012:

• Total operating revenue: JPY942,000 million (USD11,784 million), +3.6% year-on-year;
  • Domestic
    • Passenger: JPY373,400 million (USD4671 million), +1.7%;
    • Baggage: JPY204 million (USD2.6 million), -7.1%;
  • International
    • Passenger: JPY308,300 million (USD3857 million), +6.7%;
    • Baggage: JPY374 million (USD4.7 million), +4.9%;
  • Cargo: JPY57,500 million (USD719.3 million), -3.7%;
• Total operating costs: JPY783,800 million (USD9805 million), +4.9%;
• Operating profit: JPY158,100 million (USD1978 million), -2.2%;
• Net profit: JPY140,600 million (USD1759 million), -3.7%;
• Passenger numbers: 28.6 million, +6.5%;
  • Domestic: 22.9 million, +5.1%;
  • International: 5.6 million, +13.0%;
• Passenger load factor: 70.4%, +4.1 ppts;
  • Domestic: 63.5%, +0.2 ppt;
  • International: 76.2%, +7.3 ppts;
• Total assets: JPY1177 billion (USD14,721 million), +8.2% when compared to period ended 31-Mar-2012;
• Cash and bank deposits: JPY317,490 million (USD3972 million), +16.5% when compared to period ended 31-Mar-2012;
• Total liabilities: JPY629,464 million (USD7874 million), -6.6% when compared to period ended 31-Mar-2012;
• FY2012 forecast:
  • Operating revenue: JPY1228 billion (USD15,362 million), +1.1% when compared to previous guidance;
  • Operating profit: JPY186,000 million (USD2327 million), +12.7% when compared to previous guidance;
  • Net profit: JPY163,000 million (USD2039 million), +16.4% when compared to previous guidance. [more - original PR]

*Based on the average conversion rate at USD1 = JPY79.94

JAL Group: "While there are concerns of the impact of the suspended use of the Boeing 787 aircraft since January 2013, business has been robust, especially on European, North American and Southeast Asian routes. Various measures including new products and services, which were steadily promoted, are also expected to uplift revenue. As a result, consolidated revenue for the full fiscal year is expected to increase by 13 billion yen compared to the previously announced forecast. Although the weakened yen is expected to push fuel costs, etc. upward, the effects of hedging and persistent cost reduction efforts have been effective, and consolidated operating expenses are expected to decline by 8 billion yen from the previously announced forecast." Source: Company statement, 04-Feb-2013.