Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q3 FY21/22 Earnings Presentation
26 slides from Singapore Airlines's earnings presentation, Feb 25, 2022
Slide 1: SIA Group Business Update Q3 FY21/22
SIA Group Business Update Q3 FY21/22 (ended 31 December 2021) 25 February 2022 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources.
Slide 2: Group Financial Results
GROUP FINANCIAL RESULTS Slide 1 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources. This material may not be modified, reproduced,
Slide 3: Key Takeaways – Q3 FY21/22 Results
Group Financial Results Key Takeaways – Q3 FY21/22 Results SIA Group posted first quarterly net profit of $85 million since onset of Covid-19 pandemic Q3 FY21/22 operating profit came in at $76 million driven by improvement in passenger and cargo revenues Significant growth in passenger numbers as v
Slide 4: Operating Statistics: Calibrated capacity recovery continues
Group Operating Statistics Calibrated capacity recovery continues % vs Pre-Covid (Jan’20) ASK 80.0% 73.5% Q3 YoY 70.0% +183.8% 62.8% 9M YoY 60.0% 56.8% 51.6% +296.1% 49.3% 50.0% 47.4% 43.6% 41.3% 38.7% 37.9% 38.7% 40.0% 31.1% 32.2% 30.0% 26.7% 26.5% 19.6% 21.2% Overall CTK 20.0% 16.5% 13.6% Q3 YoY 1
Slide 5: Group Financial Results
Group Financial Results Q3 Q3 Better/ Better/ 9M 9M Better/ Better/ FY21/22 FY20/21 (Worse) (Worse) FY21/22 FY20/21 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Total Revenue 2,316.0 1,066.7 1,249.3 117.1% 5,142.9 2,701.1 2,441.8 90.4% Total Expenditure 2,239.7 1,397.5 (842.2) (60.3)%
Slide 6: Revenue Q3 FY21/22
Group Revenue Q3 FY21/22 Revenue driven by pent-up passenger demand from VTL during year-end holiday season and strong cargo demand Group Revenue ($’M) Q3 FY21/22 $2,316.0M 2,316.0 YoY $1,249.3M 1,532.5 (+117.1%) 1,294.4 1,066.7 1,114.8 850.6 783.8 9M FY21/22 $5,142.9M YoY $2,441.8M Q1 Q2 Q3 Q4 Q1 Q
Slide 7: Revenue Breakdown from Key Contributors
Group Revenue Q3 FY21/22 Revenue driven by pent-up passenger demand from VTL during year-end holiday season and strong cargo demand Revenue Breakdown from Key Contributors Group Revenue Breakdown ($'M) (% vs pre-Covid Q3 FY19/20^) Record Pax Flown Revenue 1,600 High $832.8M 1,400 258.5% (+$649.7M, +
Slide 8: Expenditure Q3 FY21/22
Group Expenditure Q3 FY21/22 Group expenditure grew on expansion of operations Group Expenditure ($’M) Q3 FY21/22 $2,239.7M 2,239.7 YoY $842.2M 1,887.4 1,877.5 (+60.3%) 1,609.9 1,568.8 1,397.5 1,433.6 9M FY21/22 $5,686.0M YoY $791.2M Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY20/21 FY20/21 FY20/21 FY20/21 FY21/22 FY21/
Slide 9: Expenditure Q3 FY21/22 (Adjusted)
Group Expenditure Q3 FY21/22 On adjusted basis, Group expenditure grew on expansion of operations Group Expenditure ($’M) – Adjusted (Excluded fuel hedging ineffectiveness and fair value gain/loss on fuel derivatives) Q3 FY21/22 $2,238.9M 2,238.9 YoY $690.4M 1,884.5 (+44.6%) 1,632.2 1,640.6 1,510.0
Slide 10: Expenditure Q3 FY21/22: Cost Composition
Group Expenditure Q3 FY21/22 Higher net fuel cost and non-fuel expenditure with increased flying activities Cost Composition (Q3 FY21/22 vs Q3 FY20/21) ▪ Net fuel cost rose 131.6% (+$359.9M) mainly on higher fuel prices (+$329.9M) and an increase in volume uplifted (+$173.0M), partially offset by No
Slide 11: Net Fuel Cost Q3 FY21/22
Net Fuel Cost Q3 FY21/22 Net fuel cost up due to higher fuel prices and volume uplifted, partially mitigated by hedging gain vs loss last year Group Fuel Cost Analysis ($'M) +329.9 -143.4 +0.4 633.4 Hedging Stronger gain vs loss USD last year against +$359.9M +173.0 SGD (+131.6%) Higher weighted 273
Slide 12: Operating Profit Q3 FY21/22
Group Operating Profit Q3 FY21/22 Turnaround from operating loss to operating profit driven by recovery of pax demand and strong cargo performance Group Operating Profit/(Loss) ($’M) Q3 FY21/22 76.3 $76.3M YoY $407.1M (n.m.) -274.4 -330.8 -318.8 -345.0 9M FY21/22 -$543.1M -826.1 YoY -1,036.8 $1,650.
Slide 13: Operating Profit Q3 FY21/22 - Adjusted
Group Operating Profit Q3 FY21/22 - Adjusted Turnaround from operating loss to operating profit driven by recovery of pax demand and strong cargo performance Group Operating Profit ($’M) - Adjusted (Excluded fuel hedging ineffectiveness and FV gain/loss on fuel derivatives) Q3 FY21/22 77.1 $77.1M Yo
Slide 14: Operating Profit Q3 FY21/22 bridge
Group Operating Profit Q3 FY21/22 Turnaround in Group operating performance from operating loss to operating profit Group Operating Performance Y-o-Y ($'M) +606.7 Higher pax +35.5 Largely due to higher flown costs with increased revenue -359.9 Absence of fuel flying activities +649.7 hedging Higher
Slide 15: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group Q3 Q3 Better/ Better/ 9M 9M Better/ Better/ FY21/22 FY20/21 (Worse) (Worse) FY21/22 FY20/21 (Worse) (Worse) ($’M) ($’M) $M (%) ($’M) ($’M) $M (%) Full-service carrier 190.0 (225.9) 415.9 n.m. (196.5) (1,661.3) 1,464.8 88.2 Low-cost carrier (102.1
Slide 16: Net Profit Q3 FY21/22
Group Net Profit Q3 FY21/22 SIA Group posts first quarterly net profit since onset of Covid-19 pandemic Group Net Profit/(Loss) ($’M) Q3 FY21/22 84.7 $84.7M -141.8 YoY -409.2 -427.6 $226.5M -661.9 (n.m.) -1,123.3 9M FY21/22 -$752.1M -2,343.7 YoY $2,856.7M Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY20/21 FY20/21 FY20/21
Slide 17: Net Profit Q3 FY21/22 bridge
Group Net Profit Q3 FY21/22 SIA Group posts first quarterly net profit since onset of Covid-19 pandemic Group Net Performance Y-o-Y ($'M) +407.1 -180.6 84.7 Mainly due to tax expense vs tax credit last year and higher net finance charges, +$226.5M partially mitigated by (n.m.) surplus on disposal of
Slide 18: Group Financial Results: EPS and EBITDA
Group Financial Results Q3 FY21/22 Q3 FY20/21 Earnings/(Loss) per share (cents) - Basic R1 1.3 (2.9)R2 - Adjusted Basic R3 2.9 (4.2) - Diluted R4 1.3 (2.9)R2 EBITDA ($ million) R5 684.7 137.8 EBITDA margin (%) R6 29.6 12.9 R1 Earnings/(Loss) per share (basic) is computed by dividing profit/(loss) at
Slide 19: Financial Position
Group Financial Position As at 31 December 2021 As at 31 March 2021 Total assets ($’M) 45,011.2 37,581.3 Total debt ($’M) 14,880.4 14,336.9 Total cash and bank balances ($’M) 12,143.8 7,783.0 Total liabilities ($’M) 22,505.3 21,303.2 Equity attributable to Owners of the Company ($’M) 22,119.0 15,905
Slide 20: Paving the Way Ahead
PAVING THE WAY AHEAD Slide 19 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources. This material may not be modified, reproduced, di
Slide 21: Managing an Unprecedented Crisis: Liquidity
Managing an Unprecedented Crisis Strong liquidity strengthens the Group’s financial foundation From shareholders, through Rights S$15.0B Issue of shares and MCBs Additional Successfully raised a seven-year liquidity raised S$2.1B Aircraft secured financing US$600 million (~S$810 million) bond since
Slide 22: Managing an Unprecedented Crisis: Operating Cash Surplus
Managing an Unprecedented Crisis Stronger operating performance for the third quarter led to an operating cash surplus for 9M FY21/22 Monthly operating cashflows - * Operating in S$’M Approaching Cash Surplus break-even 9M FY21/22 (100) S$100M to S$150M $322M (200) Under S$300M (300) S$300M to S$400
Slide 23: Moving Nimbly to Seize Opportunities
Moving Nimbly to Seize Opportunities We work closely with all the relevant authorities to re-start travel in a safe and calibrated manner Vaccinated Travel Lanes (VTL) Quarantine-free travel for vaccinated travellers SIA Group’s VTL network will progressively expand to include 49 cities in 25 countr
Slide 24: Moving Nimbly to Seize Opportunities: Capacity
Moving Nimbly to Seize Opportunities We will continue to proactively capture revenue opportunities SIA Group expected to operate 51% of pre-Covid By March 2022 passenger capacity by Mar’22 % vs. pre-Covid in Jan’20 25,000 47% ~ 51% of pre-Covid passenger capacity 20,000 39% ASK (mil seat-km) 32% >60
Slide 25: Preparing to Emerge Stronger
Preparing to Emerge Stronger Aggressively capturing cargo momentum to tap on strong cargo demand Operated cargo-only passenger flights Removed aircraft seats Launched new products to capture to supplement fall in bellyhold capacity to load cargo in cabin new verticals 1st airline in Southeast Asia t
Slide 26: Thank You
Thank You The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources. This material may not be modified, reproduced, distributed, republish
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