Air Asia (2630) Q2 2024 earnings summary

Executive summary

• Provided consolidated financial statements for the six months ended June 30, 2024 and 2023, reviewed by independent auditors with no material misstatements identified.

• Principal activities include aircraft maintenance, renovation, upgrades, and integrated logistic support services.

• Operations are not affected by seasonality or cyclicality.

Financial highlights

• Operating revenue for H1 2024 was NT$2,525,402 thousand, up 5.6% year-over-year from NT$2,390,373 thousand.

• Net profit for H1 2024 was NT$80,441 thousand, compared to a net loss of NT$26,645 thousand in H1 2023.

• Basic and diluted EPS for H1 2024 were NT$0.38, versus a loss per share of NT$0.16 in H1 2023.

• Gross margin improved to 9% in H1 2024 from 5% in H1 2023.

• Total assets as of June 30, 2024 were NT$6,437,982 thousand, up from NT$5,505,632 thousand a year earlier.

Outlook and guidance

• Adoption of new IFRS standards is not expected to have a significant impact; further evaluation of IFRS 18 is ongoing.

• No significant changes in capital management or financial risk management policies.