Skymark Airlines Inc.
Supplementary Material for Financial Results for the Fiscal Year ended March 2025 (FY2024)
May 15, 2025
Financial Results for FY2024 (FY2025/3)
Earnings Forecast for FY2025 (FY2026/3)
Mid-Term Business Targets FY2025-FY2029
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
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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
Profit Indicators Declined due to Cost Increases (+7.7% YoY) Driven by Factors such as Yen Depreciation,
2 Inflation, and the Reduction of Government Subsidies, which Outweighed the Increase in Operating Revenues
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：
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)
Adjusted net income = Income before income taxes × (1－effective tax rate 34.59%)
Copyright © Skymark Airlines Inc.
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This slide outlines our summary of our financial results for FY2024 and forecast for FY2025.
The first point is that our operating revenues for FY2024 increased by 4.6% year on year to JPY108.8 billion, achieving a new record high. Thanks to our high-quality services appreciated by customers, the number of revenue passengers increased 2.4% year on year to 8.14 million, while the average price per passenger increased 2.1% year on year to JPY13,028.
The second point concerns profit indicators. Each profit indicator decreased due to rising costs driven by a weak yen, and reduction of government support. However, operating profit exceeded the revised forecast thanks to stronger efforts in revenue management since December 2024. Based on these results and in accordance with our dividend policy, we plan to pay a year-end dividend of 3 yen per share for the fiscal year.
The third point is about our earnings forecast for FY2025. We plan to strengthen revenue management further while maintaining high service quality, resulting in an expected 7.7% year-on-year increase in operating revenue to JPY117.3 billion. Despite rising costs due to inflation and reduced government
support, we aim to offset these increases by maximizing operating revenue.
As a result, operating income is expected to grow by 9.5% year on year to JPY2.0 billion. As for net income, we expect this to decrease 44.1% year-on-year to JPY1.2 billion due to the impact of a decrease in net operating loss carried forward from profit growth in FY2025 and beyond.
Our detailed financial results briefing begins on the next page.
1. Financial Results for FY2024 (FY2025/3)