FY2021 Financial Results

Demand, particularly for domestic routes, has been trending toward recovery, and demand for international routes is seeing signs of recovery as well thanks to the gradual easing of entry restrictions.

  • Although conditions remain quite severe for the airline industry, demand, particularly for domestic routes, has been trending toward recovery, and demand for international routes is seeing signs of recovery as well thanks to the gradual easing of entry restrictions.
    The domestic passenger demand has been moving toward recovery in Japan, operating revenues increased from the previous year, in which they were significantly affected by the impact of COVID-19, reaching \1,020.3billion (up 40.0% year-on-year). Although the continued impact of COVID-19 resulted in an operating loss of ¥173.1 billion (operating loss \464.7.5 billion same period a year ago), an ordinary loss of ¥184.9billion (ordinary loss \451.3 billion same period a year ago), and net loss attributable to owners of the parent of ¥144.8 billion (net loss attributable to owners of the parent \404.6 billion same period a year ago).

Consolidated Financial Summary (Years ended March)

Consolidated Financial Summary (Billion yen)
FY2020 (Results) FY2021 (Results) Difference Change (%)
Operating Revenues 7,286 10,203 2,916 40.0
Operating Expenses 11,934 11,934

minus0

minus0.0

Operating Income

minus4,647

minus1,731

2,916
Non-Op. Gains/Losses 134

minus118

minus252

minus188.0

Recurring Income

minus4,513

minus1,849

2,664
Extraordinary Gains/Losses

minus940

95 1,035
Net Income

minus4,046

minus1,436

2,609
EBITDA*1

minus2,884

minus257

2,626
  1. *1.EBITDA = Op. Income + Depreciation and Amortization

Operating Income and Net Income

FY2017 Op.Income 164.5 Billion, Net Income 143.8 billion. FY2018 Op.Income 165.0 Billion, Net Income 110.7 billion. FY2019 Op.Income 60.8 Billion, Net Income 27.6 billion. FY2020 Op.Income -464.7 Billion, Net Income -404.6 billion. FY2021 Op.Income -173.1 Billion, Net Income -143.6 billion.
(Years ended March)

FY2022 Earnings Forecast

The impact of the COVID-19 pandemic on our Company remains significant, and we will not be able to avoid the effects of the pandemic on our business performance, just as occurred in the previous period. However, since March of this year, thanks to certain trends, such as the lifting of the semi-state of emergency COVID-19 measures, and the easing of entry restrictions into various countries, we are beginning to see signs of additional recovery in demand for airline services.
Based on the "ANA HOLDINGS Announcement of Transformative Measures to a New Business Model" that the company group announced on October 27, 2020 amidst these circumstances, we will continue to steadily implement business structure reform plans in response to the behavioral changes brought about by COVID-19 and to reemerge as a stronger corporate group able to withstand the recurrence of infectious diseases. With respect to our airline business, we intend to both definitively capture passenger demand, which is seeing recovery, with dynamic adjustments to the scopes of flights, and enhance marketing for, and maximize revenue from, cargo services, the demand for which remains solid. In terms of costs, we will improve the break-even point by maintaining the effects of fixed cost reductions implemented in the previous period. Furthermore, we will endeavor to realize profitability by controlling rising costs, caused by spiking fuel prices and commodity prices, among other factors, by reviewing our cost structures and income models.

At present, the forecast for consolidate results for the fiscal year ending March 31, 2023 is as follows: operating revenues ¥1,660.0 billion (up 62.7% year-on-year); operating income ¥50.0 billion (operating loss ¥173.1 billion same period a year ago); ordinary income ¥30.0 billion (ordinary loss ¥184.9 billion same period a year ago); and net income attributable to owners of the parent was ¥21.0 billion (net loss attributable to owners of the parent ¥143.6 billion same period a year ago).
These calculations were made based on the assumptions that the exchange rate is ¥120 to one US dollar, and indices for fuel costs as follows; the market price for crude oil on the Dubai market is US$105 per barrel, while Singapore kerosene costs are US$120 per barrel.

Consolidated Financial Forecast

Unit: billion yen(rounded down)

Forecast for
FY2022
FY2021 Difference
Operating revenues 16,600 10,203 6,396
Operating income 500 -1,731 2,231
Ordinary income 300 -1,849 2,149
Net income attributable to owners of the parent 210 -1,436 1,646
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