Skymark Airlines Inc., First Half Net Income Turns to Loss, July-September Net Income Decreases by 79%

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Mon Nov 11, 2024 3:30 pm JST Earnings

9204 Skymark Airlines Inc. 【J-GAAP】

Earnings Report

Skymark Airlines Inc. <9204> [TSE-G] announced its financial results after the market closed on November 11th (15:30). The net income/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2025 (April to September) turned into a loss of 590 million yen (compared to a profit of 3.31 billion 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 net income/loss for the October to March period (second half) is expected to turn into a profit of 4.79 billion yen (compared to a loss of 321 million yen in the same period last year).

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from July to September (2Q), the net income significantly dropped to 926 million yen, a 78.5% decrease compared to the same period last year. The operating profit margin decreased from 15.4% in the same period last year to 14.6%.

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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
Apr - Sep, 2023	52,035	3,180	5,978	3,318	55.0	80.1	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	54,488	2,324	95	-590	-10.0	2.6	Nov 11, 2024	J-GAAP
YoY	+4.7%	-26.9%	-98.4%	－	－

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	54,488	2,324	95	-590	-10.0	0	Nov 11, 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
Oct - Mar, 2023	52,040	1,488	1,485	-321	-5.4	29	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	57,712	1,176	3,505	4,790	79.5	－	Nov 11, 2024	J-GAAP
YoY	+10.9%	-21.0%	+136.0%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	84,661	3,453	3,713	5,726	111.9	5	May 15, 2023	J-GAAP
Mar, 2024	104,075	4,668	7,463	2,997	49.9	29	May 15, 2024	J-GAAP
Mar, 2025 Guidance	112,200	3,500	3,600	4,200	69.7	－	May 15, 2024	J-GAAP
YoY	+7.8%	-25.0%	-51.8%	+40.1%	+39.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	29,879	4,616	5,423	4,311	71.5	15.4	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	26,175	2,109	440	272	4.5	8.1	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	25,865	-621	1,045	-593	-9.9	-2.4	May 15, 2024	J-GAAP
Apr - Jun, 2024	23,542	-2,182	-1,024	-1,516	-25.7	-9.3	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	30,946	4,506	1,119	926	15.7	14.6	Nov 11, 2024	J-GAAP
YoY	+3.6%	-2.4%	-79.4%	-78.5%	-78.0%