31-Oct-2013 10:32 AM

ANA Holdings 1HFY2013 results fall short of target, downgrades full year guidance

ANA Holdings revenue up 6% – financial highlights for six months ended 30-Sep-2013:

  • Operating revenue: JPY797,626 million (USD8070 million), +5.9% year-on-year;
    • Air transportation: JPY696,400 million (USD7046 million), +6.0%;
    • Airline related: JPY93,000 million (USD941 million), +6.4%;
    • Travel services: JPY90,700 million (USD918 million), +7.6%;
    • Trade and retail: JPY53,800 million (USD544 million), +9.3%;
  • Operating costs: JPY626,770 million (USD6341 million), +11.4%;
  • Operating profit: JPY43,311 million (USD438 million), -42.5%;
    • Air transportation: JPY39,200 million (USD397 million), -41.8%;
    • Airline related: JPY3700 million (USD37 million), +21.8%;
    • Travel services: JPY2700 million (USD27 million), -6.9%;
    • Trade and retail: JPY1800 million (USD18 million), +27.1%;
  • Net profit: JPY20,070 million (USD203 million), -45.7%;
  • Passenger numbers:
    • Domestic: 21.4 million, +2.9%;
    • International: 3.2 million, -4.3%;
  • Passenger load factor:
    • Domestic: 60.9%, -0.8 ppt;
    • International: 747.8%, -2.8 ppts;
  • Total assets: JPY2131 billion (USD21,555 million);
  • Cash on hand and in banks: JPY29,038 million (USD294 million);
  • Total liabilities: JPY1358 million (USD13,739 million);
  • FY2013 ending 31-Mar-2014 forecast:
    • Operating revenue: JPY1,580 billion (USD15,985 million);
    • Operating profit: JPY60,000 million (USD607 million);
    • Net profit: JPY15,000 million (USD152 million). [more - original PR]

*Based on the average conversion rate at USD1 = JPY98.84

ANA Holdings: “Passenger unit cost and numbers fell short of initial targets and there were delays in receiving new aircraft that caused delays in establishing new international routes and adding flights. Also AirAsia Japan did not perform as well as expected. Regarding revenue in the Second Half, ANA expects that in domestic routes unit prices will continue to fall. In addition, we are forced to revise the business plan for AirAsia Japan from a basic point of view. As a result of these factors, ANA now believes FY2013 revenue for the full financial year will be about JPY30 billion below the initial projection. On the other hand, the yen continued to weaken in the First Six months, which increased costs for fuel and other dollar-denominated outlays, causing expenditures to exceed initial estimates. ANA has no choice but to assume that yen will continue to weaken further in the Second Half, and must also assume that fuel costs will increase. With these factors ANA believes that, FY2013 costs will be about JPY20 billion higher than initial estimates.” Source: Company statement, 30-Oct-2013.

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