Skymark Airlines Inc.TSE: 9204

Supplementary Material for Financial Results for the Fiscal Year ended March 2025 (FY2024)（1MB）

· Issued by Skymark Airlines Inc.
Skymark Airlines Inc.

Supplementary Material for Financial Results for the Fiscal Year ended March 2025 (FY2024)

May 15, 2025


  1. Financial Results for FY2024 (FY2025/3)
  2. Earnings Forecast for FY2025 (FY2026/3)
  3. Mid-Term Business Targets FY2025-FY2029
  4. Appendix Summary of FY2024 Results / FY2025 Forecast

    *Definitions are, FY: fiscal year (from April 1 to March 31 of the next year), Q1: from April to June, Q2: from July to September, Q3: from October to December, Q4: from January to March

    1

    Operating Revenues Reached a Record High of JPY108.8 Billion, +4.6% Year on Year

    • The number of revenue passengers increased to 8.14 million, up 2.4% year-on-year, supported by high-quality services

      (ranked No. 1 for three consecutive years in the 2024 Customer Satisfaction Index Survey for the domestic long-distance transportation sector1)

    • The average price per passenger increased by JPY271 (+2.1% YoY) to JPY13,028, driven by the enhancement of revenue management

      2

      Inflation, and the Reduction of Government Subsidies, which Outweighed the Increase in Operating Revenues

      Profit Indicators Declined due to Cost Increases (+7.7% YoY) Driven by Factors such as Yen Depreciation,

    • Operating profit and net income exceeded the revised forecast thanks to improved revenue management since December, despite a year-on-year decline in profits (Operating Profit: JPY0.6 billion → JPY1.8 billion; Net Income: JPY1.5 billion → JPY2.1 billion)

    • The year-end dividend is planned to be 3 yen per share, calculated based on our dividend policy: Adjusted net income2 x Payout ratio of 35% / Outstanding shares

      3

      Focus on Evolving and Transforming into a Highly Profitable Business Structure in FY2025

    • By further strengthening revenue management, supported by high service quality, and maximizing operating revenues, we aim to offset cost increases stemming from factors such as inflation and the reduction of government subsidies

    • Operating revenues are expected to reach JPY117.3 billion (+7.7% YoY), operating profit JPY2.0 billion (+9.5% YoY), and net

income JPY1.2 billion (-44.1% YoY, due to the reduction in carried-forward tax losses, attributed to anticipated profit growth from FY2025 onward)

Notes：

  1. Ranking of customer satisfaction level among domestic long-distance transportation: Includes all domestic airlines and most bullet train services. As of FY2024, the following 13 companies (Skymark, AIR DO, ANA, Jetstar, JAL, Starflyer, Solaseed Air, Peach, Kyushu Shinkansen, Sanyo Shinkansen, Tokaido Shinkansen, Tohoku Shinkansen, and Hokuriku Shinkansen)

  2. Adjusted net income = Income before income taxes × (1－effective tax rate 34.59%)

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1. Financial Results for FY2024 (FY2025/3) Overview of Financial Results for FY2024

Despite record operating revenues, profits decreased due to cost increases caused by a weak yen, high crude oil prices, inflation, and the reduction of government subsidies

Financial Results

Operating Revenues

Unit: JPY MM

FY2023

FY2024

vs.

FY2023

FY2024

Financial Forecast

vs. Financial Forecast

Operating Revenues

104,075

108,893

+4.6%

107,500

+1.3%

Passenger

Revenues

101,395

106,060

+4.6%

-

-

Other Revenues

2,680

2,832

+5.7%

-

-

Operating Expenses

99,406

107,066

+7.7%

106,900

+0.2%

Operating Costs

93,377

100,187

+7.3%

-

-

SG&A

6,029

6,878

+14.1%

-

-

Operating Income

4,668

1,826

▲60.9%

600

+204.5%

Operating Income Margin (%)

4.5

1.7

▲2.8pt

0.6

+1.1pt

Ordinary Income

7,463

760

▲89.8%

1,500

▲49.3%

Income before Income

Taxes

7,463

877

▲88.2%

1,500

▲41.5%

Net Income

2,997

2,146

▲28.4%

1,500

+43.1%

Adjusted Net Income1

4,882

573

▲88.2%

981

▲41.5%

Dubai Crude Oil Price

(After Hedging)(US$/Barrel)

74.2

74.9

+0.9%

-

-

Exchange Rate Used for

Fuel Cost (After Hedging)(JPY/US$)

142.9

153.4

+7.3%

-

-

Exchange Rate Used for Foreign Currency Transactions

(After Hedging)(JPY/US$)

129.4

139.9

+8.1%

-

-

Dividend per Share

(JPY)

29.0

3.0

▲89.7%

-

-

(JPY Bn)

84.6

47.1

34.0

100

80

60

40

20

Broke the record

104.0 108.8

0

Operating Income (Loss)

(JPY Bn)

▲ 16.6

0.0

20.0

FY2020 FY2021 FY2022 FY2023

3.4 4.6

FY2024

1.8

Note：

1. Income Before Income Taxes ×(1－effective tax rate 34.59%)

Copyright © Skymark Airlines Inc.

40.0

▲ 31.6

FY2020 FY2021 FY2022 FY2023 FY2024

5

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