Copa Corporation Inc., First Half Ordinary Profit Loss Narrows, June-Augus Ordinary Profit Loss Narrows

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Tue Oct 15, 2024 3:00 pm JST Earnings

7689 Copa Corporation Inc. 【J-GAAP】

Earnings Report

Copa Corporation Inc. <7689> [TSE-G] announced its financial results after the market closed on October 15th (15:00). The ordinary loss (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2025 (March to August) was a reduced loss of 61 million yen (compared to a loss of 120 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the September to February period (second half) is expected to turn into a profit of 64 million yen (compared to a loss of 251 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the ordinary loss improved to a deficit of loss of 16 million yen (compared to a loss of 42 million yen in the same period last year). The operating profit/loss margin improved from -5.2% in the same period last year to -2.4%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	1,581	26	26	13	4.4	ー	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	1,385	-119	-120	-85	-29.0	ー	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	1,266	-64	-61	-61	-20.9	ー	Oct 15, 2024	J-GAAP
YoY	-8.6%	+46.2%	+49.2%	+28.2%	+28.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	ー	ー	ー	ー	－	0	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	1,266	-64	-61	-61	-20.9	0	Oct 15, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	820	-252	-251	-1,196	-403.9	0	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	1,284	67	64	62	21.1	0	Oct 15, 2024	J-GAAP
YoY	+56.6%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	2,572	-116	-117	-133	-45.0	0	Apr 14, 2023	J-GAAP
Feb, 2024	2,205	-371	-371	-1,281	-432.6	0	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	2,550	3	3	1	0.3	0	Apr 12, 2024	J-GAAP
YoY	+15.6%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	814	-42	-42	-7	-2.4	-5.2	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	456	-129	-130	-1,063	-358.9	-28.3	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	364	-123	-121	-133	-44.9	-33.8	Apr 12, 2024	J-GAAP
Mar - May, 2024	474	-45	-45	-45	-15.5	-9.5	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	792	-19	-16	-16	-5.5	-2.4	Oct 15, 2024	J-GAAP
YoY	-2.7%	+54.8%	+61.9%	-128.6%	-128.9%