ANA Holdings has announced its financial results for the period of April to June 2024, setting a new record high for the first quarter in terms of revenue.
The revenue amounted to 516.7 billion yen, with operating expenses at 486.4 billion yen, operating profit at 30.3 billion yen, and a net profit of 24.7 billion yen. Despite an increase in maintenance costs, which led to higher operating expenses, the operating profit of 30.3 billion yen surpassed the pre-COVID highest profit level.
By segment, the travel and trading businesses performed well, while the aviation-related and travel businesses recorded operating losses. The aviation business captured strong demand for visits to Japan on international flights, along with leisure and business demand from Japan. Domestic flights exceeded the previous year’s performance in terms of passenger numbers and income, thanks to initiatives to quickly capture leisure demand through sales.
The company aims to capture further demand by increasing its European route operation scale to 1.3 times that of the previous year through additional and resumed flights, as well as new services.
The expected exchange rate was 140 yen per US dollar, with the actual rate at 155.8 yen. The impact of the exchange rate fluctuation was about 10 billion yen, with a per yen impact on the balance sheet of 3 billion yen. The company offsets foreign currency costs such as fuel expenses with foreign currency income from international operations and hedges the shortfall.
The full-year financial forecast remains unchanged, with expected revenue of 2.19 trillion yen, operating profit of 170 billion yen, and a net profit of 110 billion yen.
