Japan Airlines Co., Ltd. · TSE:9201
Japan Airlines — Q1 FY2013 Earnings Presentation
20 slides from Japan Airlines's earnings presentation, Jul 31, 2013
Slide 1: Financial Results 1st Quarter Mar/2014 (FY2013)
Financial Results 1st Quarter Mar / 2014 (FY2013) 31 July, 2013
Slide 2: Topics
TOPICS Q SS JAPAN AIRLINES CC rr OVERVIEW OF 187 QUARTER FY3/14 FINANCIAL RESULTS C2) OPERATIONS OF BOEING 787 DETAILS OF 18™ QUARTER FY3/14 SUPPLEMENTAL REFERENCES
Slide 3: Overview of 1st Quarter FY3/14 Financial Results
Overview of 1st Quarter FY3/14 Financial Results Operating Revenue Operating Profit （JPY Bn） Operating Profit Margin （JPY Bn） 60 15% 294.1 286.7 11.0% 40 10% 280 31.4 7.5% ＋2.6% 22.0 20 5% 250 0 0% 1st Quarter 1ST Quarter 1ST Quarter 1ST Quarter FY3/13 FY3/14 FY3/13 FY3/14 Despite weak Yen, Operat
Slide 4: Impact from Current FX Markets
Impact from Current FX Markets Breakdown of the Impact on Our Operating Profit (JPY Bn) FX impact Excl. FX ▲10.6 Bn +1.2 Bn Expenses Revenue (Excl. Fuel) +5.3 ▲4.5 FUEL 31.4 ▲11.4 Revenue Expenses +2.0 ▲0.8 20.8 22.0 1Q FY3/13 Estimated Operating Profit 1Q FY3/14 (1USD=81.4JPY) without FX impact (1U
Slide 5: Operations of Boeing 787
Operations of Boeing 787 Boeing 787 Operations Operations of Boeing 787 resumed from June 1, 2013. Narita-Helsinki Routes operation newly started from July 1. The reservation is growing steadily. Current Reservations (as of 25JUL) (**) JUL AUG Newly Launched Routes (*) 82% 83% All 787 Routes 7
Slide 6: Consolidated Financial Results
Consolidated Financial Results Consolidated Financial Results 1st Quarter FY3/14 1st Quarter 1ST Quarter Revenue: JPY Bn % y/y FY3/13 FY3/14 294.1Bn JPY, y/y +2.6% Revenue 286.7 294.1 +2.6% Air transportation segment 259.1 262.9 +1.5% Operating Profit: Operating Expense 255.3 272.0 +6.5% 22.0 Bn
Slide 7: Changes of Operating Profit
Changes of Operating Profit 1st Quarter FY3/14 ASK y/y： +3.8% RPK y/y： +2.4% （JPY Bn） ▲9.3Bn (▲29.8%) Other Revenue Fuel Domestic Int’l Operation Int’l Passenger Cargo +4.0 ▲6.6 Coupled Revenue Passenger +0.5 ▲0.1 Cost Coupled +3.0 Cost 31.4 ▲1.6 Other Cost ▲1.5% +5.8% ▲0.8 +0.5% ▲10.7% ▲7.5 +3.1% ▲
Slide 8: International Passenger Operations (Operating Results)
International Passenger Operations (Operating Results) International Passenger 1Q FY3/13 1Q FY3/14 % y/y International Passenger Revenue: Passenger Revenue (JPY Bn) 95.9 98.9 +3.1% JPY98.9Bn, y/y +3.1% ASK（MN seat km） 10,853 11,260 +3.7% Load Factor: 72.6%, y/y ▲0.7pt RPK（MN passenger km） 7,961
Slide 9: International Passenger Operations (Changes of Revenue)
International Passenger Operations (Changes of Revenue) 1st Quarter FY3/14 +3.0Bn Strong Demand on Southeast Asia: (+3.1%) Load Factor 71.9% （y/y +3.3%） ▲0.7 98.9 JAL SKY SUITE 777: +3.7 Deployed on Narita=New York route - Stagnant China and Korea following ongoing services to 95.9 - Strong Sout
Slide 10: Domestic Passenger Operations (Operating Results)
Domestic Passenger Operations (Operating Results) Domestic Passenger 1Q FY3/13 1Q FY3/14 % y/y Domestic Passenger Revenue : Passenger Revenue 108.8 Bn JPY, y/y +0.5% (JPY Bn) 108.2 108.8 +0.5% Revenue per passenger: ASK（MN seat km） 9,097 9,444 +3.8% y/y ▲2.9% RPK（MN passenger km） 5,425 5,531 +2.
Slide 11: Domestic Passenger Operations (Changes of Revenue)
Domestic Passenger Operations (Changes of Revenue) 1st Quarter FY3/14 Network Expansion: +0.5Bn New Tokyo (Haneda)= (+0.5%) Route Nagoya (Chubu) 108.8 108.2 Resumed Osaka (Itami) = Misawa, Hakodate, Matsuyama Sapporo=Niigata 4.0 Frequency Osaka (Itami) = Fukuoka, ▲3.5 Hanamaki, Sendai, Oita, Incre
Slide 12: Major Operating Expense Items
Major Operating Expense Items Breakdown of Operating Expenses Fuel cost increased by 6.6 (JPY Bn) 1Q FY3/13 1Q FY3/14 Difference % y/y Bn JPY due to an increase Fuel 61.6 68.3 +6.6 +10.7% in supply and weak Yen Landing fees 18.6 20.0 +1.4 +7.6% Maintenance cost Maintenance 6.9 9.6 +2.7 +39.3% in
Slide 13: Major Balance Sheet Items
Major Balance Sheet Items Consolidated Balance Sheet Summary End of 1st Quarter FY3/14 End of FY2012 End of 1Q FY3/14 The balance of interest- （JPY Bn） Difference 2013/3/31 2013/6/30 bearing debt is reduced to 149.2 Bn JPY after Total Assets 1,216.6 1,223.7 +7.0 repayment Cash and Deposits 347.9 3
Slide 14: Major Cash Flow Items
Major Cash Flow Items (JPY Bn) 1Q FY3/13 1Q FY3/14 % y/y Net income before income taxes and minority interests 30.4 20.9 ▲9.4 Depreciation 20.1 19.6 ▲0.4 Other 16.1 17.8 +1.6 Cash Flow from Operating Activities 66.6 58.4 ▲8.2 Capital Expenditure (1) ▲25.8 ▲25.8 +0.0 Other +0.4 +1.8 +1.3 Cash Flow fr
Slide 15: Topics
TOPICS Q OVERVIEW OF 15’ QUARTER FY3/14 FINANCIAL RESULTS OPERATIONS OF BOEING 787 DETAILS OF 1S QUARTER FY3/14 SUPPLEMENTAL REFERENCES JAPAN AIRLINES
Slide 16: Supplemental Reference: Impact from Fuel and Currency Markets
《Supplemental Reference》 Impact from Fuel and Currency Markets Hedging Ratio for Fuel Costs (As of End of 1Q FY3/14) Sensitivity for Fuel Costs (Without Hedging) 100% Approx. Crude Oil 2.0 Bn JPY 80% (Change in 1 USD/bbl） Per Year 80% FUEL FX FX 2.5 Bn JPY (Change in 1 JPY/USD) Per Year 60% Approx.
Slide 17: Supplemental Reference: Revenue of International Routes by Geographical Segment
《Supplemental Reference》 Revenue of International Routes by Geographical segment Passenger Revenue (% of the whole int’l revenue) Passengers (%) 1Q FY3/13 1Q FY3/14 y/y (‘000) 1Q FY3/13 1Q FY3/14 y/y Trans Pacific 32.5% 33.0% +0.5pt Trans Pacific 396 400 +1.0% Europe 19.0% 19.0% ▲0.0pt Europe 161 15
Slide 18: Supplemental Reference: Number of Aircraft in Service
《Supplemental Reference》 Number of Aircraft in Service Number of Aircraft (Consolidated) End of Mar/2013 End of Jun/2013 2013/3/31 2013/6/30 Changes Owned Leased Total Owned Leased Total Boeing 777-200 15 0 15 15 0 15 - Boeing 777-200ER 11 0 11 11 0 11 - Boeing 777-300 7 0 7 7 0 7 - Boeing 777-300ER
Slide 19: Fly into tomorrow.
Fly into tomorrow. Contact: Finance, Japan Airlines +81-3-5460-3068
Slide 20: Forward-looking statements disclaimer
This contents contains descriptions of the future expectations, outlooks, objectives and plans etc. of Japan Airlines Co., Ltd. (hereafter "the company") and related Group companies (hereafter "the Group"). These are based on information available at the time when these materials were created by the