Air Asia (2630) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was NT$3,927.6 million, up from NT$3,574.8 million year-over-year.

• Net profit for the nine months was NT$112.9 million, a significant increase from NT$25.4 million in the prior year period.

• Gross profit margin improved to 9% for the nine months, compared to 6% in the same period last year.

• Basic and diluted EPS for the nine months were both NT$0.54, up from NT$0.15 year-over-year.

Financial highlights

• Operating revenue for Q3 2024 was NT$1,402.2 million, up 18% year-over-year.

• Gross profit for Q3 2024 was NT$116.6 million, with a gross margin of 8%.

• Operating profit for the nine months was NT$160.8 million, up from NT$51.4 million year-over-year.

• Cash and cash equivalents at September 30, 2024, were NT$219.1 million.

• Total assets increased to NT$6,460.1 million from NT$5,744.2 million at September 30, 2023.

Outlook and guidance

• Management expects no significant impact from new IFRS standards effective in 2025 and 2027.

• No seasonality or cyclicality factors are expected to affect operations.