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

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%

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