AirAsia Q2 net profit down 62%
PETALING JAYA: AirAsia Bhd’s net profit in the second quarter ended June 30 fell 61.9% to RM58.35bil compared with RM153.13bil a year earlier, but sales grew 5.48% during the period to RM1.25bil from RM1.18bil.
Its operating profit showed a 25.54% improvement to RM243.94mil from RM197.46mil.
The low cost carrier’s earnings per share (EPS) was lower at 2.1 sen compared with 5.5 sen in the previous three-month period, it told Bursa Malaysia.
For the year-to-date, the aviation group’s net earnings slipped 49.89% to RM163.14mil against RM325.57mil last year, while revenue expanded 8.39% to RM2.55bil versus RM2.35bil. EPS for the six months to June stood at 5.9 sen compared with 11.7 sen in the same period a year earlier.
Its operating profit during this time rose 16.06% to RM495.11mil from RM426.58mil.
Year-on-year, AirAsia’s passenger volumes were up 12% to 5.51 million people during the second quarter, against a similar 12% increase in the number of flights.
The airline’s revenue per available seat kilometre stood at 15.75 sen and cost per available seat kilometre, 12.83 sen.
Its average fare per passenger fell 10% to RM159 from RM177, while ancillary income per passenger gained 6% to RM39 against RM37 one year ago. The carrier’s load factor was flat at 80%.
The firm’s total debt rose to RM8.81bil compared with RM8.47bil as at end-March, versus its cash in hand of RM1.65bil, translating into a net debt of RM7.16bil and net gearing of 1.56 times. Its earnings before interest, taxes, depreciation, amortisation and restructuring or rent margins improved to 36% from 32%.
During the quarter, AirAsia recognised RM22mil in net profit from its 45% associate Thai AirAsia as well as RM7.9mil in losses from AirAsia Japan in its books.
Publish date: 22/08/13