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| ANA Returns to Profit - First Half Results
for Financial 2003 - |
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Tokyo October 31, 2003 - ANA Group today posted a consolidated net
profit of ¥20.5 billion for the first six months of fiscal 2003 (April 1 – September
30), a considerable improvement over the ¥8.1 billion loss posted for the same
period last year.
Revenues for the period under review were ¥608.3 billion, operating profit
¥14.4 billion and recurring profit ¥14.3 billion.
“ This
is proof that we are on track,” said ANA President and CEO, Yoji Ohashi,
“and that despite one of the worst years in aviation history, and a very
difficult operating environment at home, our restructuring efforts and our determination
to reduce costs are paying off.”
In the first quarter of the current fiscal year, revenues from international passenger
operations were greatly affected by SARS and the Iraq war. Demand for domestic
individual travel also was weaker than expected, even given the ongoing economic
malaise in Japan. Total revenue fell by ¥13.7 billion year-on-year to ¥608.3
billion. However, despite this drop in revenue, ANA was able to achieve a net
profit by forging ahead with its Three Year Cost Reduction Plan (fiscal 2003 –
fiscal 2005), particularly relating to personnel costs, as well as by restructuring
the route network and rationalising the utilisation of its fleet.
The ANA Group is made up of five airlines*, aviation-related businesses, travel
services and a chain of hotels, amongst other businesses. On a parent company
basis, ANA (All Nippon Airways Co., Ltd.) posted a net profit of ¥7.4 billion,
revenues of ¥481.3 billion, an operating profit of ¥8.9 billion, and a
recurring profit of ¥9.8 billion.
Airlines within the ANA Group carried 24.3 million passengers on international
and domestic routes over 27.7 billion Revenue Passenger Kilometres (RPKs). Passenger
numbers for the six-month period were down 3.9% compared with last year, and RPKs
down 6.4%, both of which can be accounted for by SARS and the Iraq war. Cargo
carried was up by 9.3% to 305,000 tonnes, thanks to strong demand, especially
in the China market, which continued unabated throughout the SARS crisis.
ANA will press ahead with its plan to reduce yearly costs by ¥30 billion by
the end of fiscal 2005 (March 31, 2006). In light of this, and the fast rebound
of traffic after SARS, as well as the expectation of continued growth in traffic
between Japan and China, ANA has revised upwards its initial net profit forecast
for the present fiscal year, ending March 31, 2004, to ¥17.5 billion yen from
¥15 billion. This is despite a forecast drop in revenues from an initial ¥1.24
trillion to ¥1.21 trillion.
*ANA (All Nippon Airways), ANK (Air Nippon), AJX (Air Japan), A-Net (Air Nippon
Network), ADK (Air Hokkaido)
Note: At current exchange rates US$1 is worth approximately ¥109 |
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(Please use this attachment for viewing on your computer.)
 First
Half Results for Financial 2003 PDF(188kb)
(Please use this attachment for printing purposes.)
First
Half Results for Financial 2003 PDF(208kb) |
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