ANA operating profit down 7%, downgrades FY2012 outlook

All Nippon Airways (ANA) revenue up 21% - financial highlights for six months ended 30-Sep-2011:

• Operating revenue: USD9281 million, +20.6% year-on-year;
  • Air transport: USD8310 million, +19.2%;
• Operating costs: USD8622 million, +27.3%;
• Operating profit: USD659.8 million, -6.6%;
  • Air transport: USD601.8 million, -5.7%;
• "Recurring profit": USD493.8 million, -7.9%;
• Net profit: USD300.3 million, +9.5%;
• Passenger numbers:
  • Domestic: 19.2 million, -8.3%;
  • International: 2.8 million, +9.2%;
• Passenger load factor:
  • Domestic: 60.0%, -5.6 ppts;
  • International: 72.1%, -7.0 ppts;
• Cargo volume:
  • Domestic: 229,000 tonnes, +4.4%;
  • International: 277,000 tonnes, +1.9%;
• Total assets: USD27,361 million, +7.8% when compared to period ended 31-Mar-2011;
• Cash, deposits and marketable securities: USD402.7 million, -17.3% when compared to period ended 31-Mar-2011;
• Total liabilities: USD20,568 million, +11.4% when compared to period ended 31-Mar-2011;
• FY2012 forecast:
  • Operating revenue: USD18,437 million, +42.3%;
  • Operating profit: USD921.8 million, +2.1%;
  • "Recurring profit": USD474.1 million, -1.0%;
  • Net profit: USD263.4 million, -3.3%. [more - original PR]

*Based on the conversion rate at USD1 = JPY75.9361

ANA: "Performance during the first half has for the most part been on track. However, the outlook for the second half of the fiscal year remains unclear due to factors such as world economic trends, concerns about recession in Japan and overseas, and the impact of exchange rates. Therefore, operating revenues are expected to fall about JPY10 billion compared with figures announced on 29-Jul-2011." Company statement. Source: ANA, 28-Oct-2011.