ANA HOLDINGS reports Consolidated Financial Results for the Six Months Ended September 30, 2021(680KB)PDFOpens in a new window.In the case of an external site,it may or may not meet accessibility guidelines.

ANA HOLDINGS INC. (9202)

Consolidated Financial Results

For the six months ended September 30, 2021

ANA HOLDINGS reports Consolidated Financial Results

for the Six Months Ended September 30, 2021

1. Consolidated financial highlights for the six months ended September 30, 2021

(1) Consolidated financial and operating results									(%: year-on-year)
	Operating revenues		Operating income			Ordinary income		Net income
												attributable to
												owners of
												the parent
	Yen	%		Yen		%			Yen	%		Yen		%
	(Millions)		(Millions)				(Millions)		(Millions)
Six months	431,125	47.7		(116,007)					(115,519)		-	(98,803)		-
ended Sep 30, 2021				-
Six months	291,834	(72.4)		(280,950)			-		(268,671)		-	(188,477)		-
ended Sep 30, 2020
*Comprehensive income for the period Apr 1 - Sep 30, 2021		¥	(91,770) million [(－%)]
	for the period Apr 1 - Sep 30, 2020		¥	(177,389) million [(－%)]
	Net income
	per share
	Yen
Six months	(210.07)
ended Sep 30, 2021
Six months	(563.39)
ended Sep 30, 2020

(Note) The Group has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020), etc. and other standards from the beginning of the first quarter. Figures for the second quarter under review are based on figures after application of said accounting standards.

(2) Consolidated financial positions

	Total assets	Net assets			Shareholder's		Net assets per
						equity ratio		Share
	Yen (Millions)	Yen (Millions)		%	Yen
As of Sep 30, 2021		3,080,003		805,459		26.0	1,700.24
As of Mar 31, 2021		3,207,883	1,012,320		31.4	2,141.49
(Reference) Shareholders' equity	as of Sep 30, 2021	¥	799,692 million
		as of Mar 31, 2021	¥	1,007,233 million

(Note) The Group has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020), etc. and other standards from the beginning of the first quarter. Figures for the second quarter under review are based on figures after application of said accounting standards.

2. Consolidated operating results forecast for the fiscal year ending March 31, 2022

(%: year-on-year)

	Operating revenues	Operating income		Ordinary income	Net income		Net income
								attributable to		per share
								owners of the parent
	Yen	%	Yen	%		Yen	%	Yen	%	Yen
	(Millions)	(Millions)		(Millions)	(Millions)
FY2021	1,060,000	45.5	(125,000)		-	(140,000)	-	(100,000)	-	(212.61)

*Revisions to the most recently disclosed earnings forecasts: Yes

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3. Other

1. Changes of significant subsidiaries during the period (changes of specific subsidiaries in accordance with changes in the scope of consolidation): None

	Consolidated	Equity method
Newly added	-	-
Excluded	-	-

1. Application of accounting methods which are exceptional for quarterly consolidated financial statements: None
2. Changes in accounting policies, accounting estimates and restatement of corrections

1. Changes caused by revision of accounting standards: Yes
2. Changes other than (i): None
3. Changes in accounting estimates: None
4. Restatement of corrections: None

(Note) For details, please refer to "2. Financial Statements and Operating Results (4) Notes to Consolidated Financial Statements, (Changes in accounting policies)" on page 16.

(4) Number of issued shares (Common stock)

				Number of Shares
	FY2021			FY2020
Number of shares issued	As of Sep 30	484,293,561	As of Mar 31		484,293,561
(including treasury stock)
Number of treasury stock	As of Sep 30	13,953,672	As of Mar 31		13,950,901
Average number of shares	Six months	470,341,204	Six months		334,540,226
outstanding during the period	ended Sep 30	ended Sep 30

• This report is not subject to audit procedures
• Explanation for appropriate use of forecasts and other notes

The earnings forecasts are forward-looking statements made on the basis of information available at the time forecasts are made and other certain assumptions deemed reasonable. Therefore, actual earnings may differ from such forward-looking statements for a variety of reasons.

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Contents
1. Qualitative Information / Financial Statements, etc.........................................................................................	4
(1)	Explanation of Consolidated Operating Results…………………………………………………………	4
(2)	Information Regarding Consolidated Financial Conditions……………………………………………..	9

1. Explanation of Forecast of Consolidated Financial Results……………………………………………. 10

2. Financial Statements and Operating Results………………………………………………………………………. 11

(1)	Consolidated Balance Sheet………………………………………………………………………………	11
(2)	Consolidated Statement of Operations and Consolidated Statement of Comprehensive Income..	13
	Consolidated Statement of Operations………..………………………………………………………….	13
	Consolidated Statement of Comprehensive Income…………………………………………………….	14

1. Consolidated Statement of Cash Flows…………………………………………………………………. 15
2. Notes to Consolidated Financial Statements……………………………………………………………. 16

(Notes Regarding Going Concern Assumption)…………………………………………………………	16
(Notes in the Event of Significant Changes in Shareholders' Capital) ……………………………….	16
(Changes in accounting policies) ………………………………………………………………………. .	16
(Additional Information)……………………………………………………………………………………	17
(Segment Information) …………………………………………………………………………………. .	18
3. Other...............................................................................................................................................................	20

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APPENDIX

Overview of consolidated financial results for the Six Months Ended September 30, 2021

1. Qualitative Information / Financial Statements, etc.

1. Explanation of Consolidated Operating Results

			Yen (Billions)
Consolidated Operating Results	Six months ended	Six months ended	Year-on-Year (%)
	Sep 30, 2021	Sep 30, 2020
Operating Revenues	431.1	291.8	47.7
Air Transportation	370.2	236.7	56.4
Airline Related	97.6	119.8	(18.5)
Travel Services	19.6	13.8	42.0
Trade and Retail	38.3	38.2	0.2
Others	17.4	18.5	(5.6)
Intersegment Transactions	(112.3)	(135.3)	-
Operating Income (loss)	(116.0)	(280.9)	-
Air Transportation	(113.7)	(277.7)	-
Airline Related	1.6	8.7	(80.6)
Travel Services	(0.1)	(4.0)	-
Trade and Retail	0	(2.8)	-
Others	0.6	0.8	(22.5)
Intersegment Transactions	(4.4)	(5.9)	-
Ordinary loss	(115.5)	(268.6)	-
Net loss attributable to owners of	(98.8)	(188.4)	-
the parent

*See Notes 1, 2, & 3 below.

In the first six months of fiscal year 2021 (April 1, 2021 - September 30, 2021; hereinafter the "six months ended September 30, 2021"), although the Japanese economy continues to struggle due to the effects of Coronavirus (COVID-19), corporate activities and capital investment continue to revive, albeit somewhat slowly.

The airline industry has seen signs of recovery in demand for domestic flights in the US, and so on. However, the situation remains severe due to restrictions on entry and travel in many countries.

Under these economic conditions, the domestic passenger demand has been moving toward recovery, operating revenues increased from the previous year, in which they were significantly affected by the impact of COVID-19, reaching ¥ 431.1 billion. Although the continued impact of COVID-19 resulted in an operating loss of ¥ 116.0 billion, an ordinary loss of ¥ 115.5 billion, and net loss attributable to owners of the parent of ¥ 98.8 billion, profits and losses are recovering.

The Group has applied the "Accounting Standard for Revenue Recognition" (ASBJ Statement No.29, March 31, 2020), etc. and other standards from the beginning of the first quarter. Figures for the second quarter under review are based on figures after application of said accounting standards. For details, please refer to "2. Financial Statements and Operating Results (4) Notes to Consolidated Financial Statements, (Changes in accounting policies)" on page 16.

An overview of the nine months ended September 31, 2021 by segment follows.

(Revenues for each business segment include inter-segment sales, and operating income corresponds to segment income.)

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Overview by Segment

• Air Transportation

Operating revenues: ¥370.2 billion, up 56.4% year-on-year

Operating loss: ¥113.7 billion (Operating loss ¥277.7 billion same period a year ago)

Despite being severely affected by the COVID-19 pandemic, passenger demand has increased from the previous year. Furthermore, thanks in part to factors such as cargo reaching record highs through the active capture of strong freight demand, operating revenues have exceeded those of the same period the previous year. The advancement of reductions in fixed costs such as personnel costs, as well as depreciation, amortization, and maintenance costs achieved through the early retirement of mainly for large aircraft in the previous year, have helped improve profits and losses compared to the same period the previous year. Despite this, however, we still recorded an operating loss.

The Group provided transportation as an official airline partner of the Olympic and Paralympic Games Tokyo. In addition, we were selected as the best airline in four categories, including cabin cleanliness, in the SKYTRAX World Airline Awards 2021.

＜International Passenger Service (ANA Brand)＞

Category		Six months ended	Six months ended	Year-on-Year
	Sep 30, 2021	Sep 30, 2020	(%)
Passenger Revenues	(Billion yen)	30.4	19.6	54.9
Number of Passengers	(Passengers)	327,686	193,827	69.1
Available Seat Km	(Thousand km)	9,433,689	5,426,693	73.8
Revenue Passenger Km	(Thousand km)	2,247,551	1,311,847	71.3
Load Factor	(%)	23.8	24.2	(0.3)

*See Notes 3, 4, 8, 9, & 13 below.

In international passenger services, passenger demand in all areas remained significantly sluggish due the re-emergence of COVID-19 and the outbreaks of variants. Passenger numbers and revenue increased year-on-year due to the commencement of recovery of business demand centered around personnel stationed overseas and personnel returning to Japan and demand for connections between Asia and North America, and due to having captured travel demand for those involved with the Olympic and Paralympic Games Tokyo.

In terms of the route network, we resumed North American routes to and from Narita Airport from July, and worked on selecting routes and setting up temporary flights by capturing demand for connections between Asia and North America, which continues to recover.

In terms of sales and service, we launched Face Express, a new check-in procedure that uses facial-recognition technology, from Narita to Mexico City route in July. By registering a photo of their face at an automated baggage check-in machine, passengers can then pass through airport security and boarding gates by way of facial recognition, without having to present their boarding pass or passport.

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