Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q1 FY24/25 Earnings Presentation
19 slides from Singapore Airlines's earnings presentation, Aug 1, 2024
Slide 1: SIA Group Business Update Q1 FY24/25 Results
SIA Group Business Update Q1 FY24/25 Results (Ended 30 June 2024) 1 August 2024 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: Presentation by Chief Financial Officer
PRESENTATION BY: Chief Financial Officer Ms. Tan JoAnn 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
Slide 3: Group Financial Results: Key Highlights
Group Financial Results Key Highlights Q1 FY24/25 Net profit of $451.7 million was 38.5% lower than a year ago, mainly from lower operating profit Passenger flown revenue rose $151.6 million on the back of capacity growth and strong load factors Lower yield and higher fuel costs contributed to l
Slide 4: Group Operating Statistics
Group Operating Statistics Overall capacity up 11.6% y-o-y, with passenger capacity up 12.2% and cargo capacity up 10.7% ASK CTK Overall CTK Q1 FY24/25 Q1 FY24/25 Q1 FY24/25 (YoY) (YoY) (YoY) +12.2% +10.7% +11.6% Pax Capacity - ASK (million) Cargo Capacity - CTK (million) Overall Capacity - CTK (mil
Slide 5: Group Financial Results
Group Financial Results Q1 Q1 Better/ Better/ FY24/25 FY23/24 (Worse) (Worse) ($’M) ($’M) ($’M) (%) Total Revenue 4,718.4 4,479.4 239.0 5.3 Total Expenditure 4,248.2 3,724.9 (523.3) (14.0) -- Net Fuel Cost 1,370.3 1,053.4 (316.9) (30.1) Fuel Cost (before hedging) 1,419.1 1,154.2 (264.9) (23.0) Fuel
Slide 6: Group Revenue Q1 FY24/25 $4,718.4M
Group Revenue Passenger flown revenue increased y-o-y on the back of increased capacity; Cargo contribution remained largely flat as higher loads were offset by lower yields Group Revenue ($'M) 5,081.9 4,768.4 4,718.4 4,683.0 4,479.4 559.4 518.7 498.8 540.5 541.7 -0.2% YoY Q1 FY24/25 $4,718.4M YoY 3
Slide 7: Group Operating Statistics - Passenger
Group Operating Statistics - Passenger Load factors remained strong while unit revenue tracked below last year RASK PLF (%) (₵/ask) 100 14 Record Quarterly 12 Group PLF Q1 FY24/25 RASK: 8.9¢/ask 9.6 PLF: 86.9% 9.3 10 90 88.9 FY19/20 Group RASK 86.5 8 (7.5¢/ask) FY19/20 Group PLF 6 (82.4%) 80 4 2 70
Slide 8: SIA and Scoot Operating Statistics - Passenger
SIA and Scoot Operating Statistics - Passenger Load factors remained strong while unit revenue tracked below last year FSC: SIA Operating Statistics LCC: Scoot Operating Statistics PLF (%) RASK RASK PLF (%) Record (₵/ask) (₵/ask) Quarterly 100 PLF 12 100 Record 8 Q1 FY24/25 Quarterly 10.6 RASK: 9.8¢
Slide 9: Group Operating Statistics - Cargo
Group Operating Statistics - Cargo Cargo loads improved on the back of stronger e-commerce demand and demand spill-over from security concerns in the Red Sea and port congestion Cargo Yield CLF (%) (₵/ltk) 100 50 44.6 Q1 FY24/25 90 Yield: 36.1¢/ltk CLF: 57.7% 40 80 35.2 70 FY19/20 Yield (30.5¢/ltk)
Slide 10: Group Expenditure Q1 FY24/25 $4,248.2M
Group Expenditure Non-fuel costs rose by 7.7% y-o-y, tracking below the 11.6% capacity growth Group Expenditure ($'M) 4,472.9 4,203.7 4,248.2 3,883.7 3,724.9 Q1 FY24/25 3,019.1 2,864.0 2,877.9 $4,248.2M 2,654.0 +7.7% YoY 2,671.5 YoY $523.3M (+14.0%) 1,453.8 1,339.7 1,370.3 1,053.4 1,229.7 +30.1% YoY
Slide 11: Net Fuel Cost and Fuel Hedging
Net Fuel Cost and Fuel Hedging Fuel costs rose 30.1% y-o-y on the back of higher fuel price, volume uplift and lower hedging gain Group Fuel Cost Analysis ($'M) +52.0 +12.8 1,370.3 +105.3 Strengthening Lower of USD against +146.8 hedging gain SGD +$316.9M Higher weighted (+30.1%) average fuel price
Slide 12: Group Operating Profit Q1 FY24/25 $470.2M
Group Operating Profit Group Operating Profit ($'M) 799.3 754.5 609.0 Q1 FY24/25 564.7 $470.2M 470.2 YoY $284.3M (-37.7%) Q1 Q2 Q3 Q4 Q1 FY23/24 FY23/24 FY23/24 FY23/24 FY24/25 Slide 12 The copyright in this material (other than in respect of information from external sources) is owned by Singapore
Slide 13: Group Operating Profit (Y-o-Y progression)
Group Operating Profit (Y-o-Y progression) Group Operating Profit ($'M) Higher net +151.6 fuel cost Includes: • Lower cargo revenue (-1.2) 754.5 • Higher handling charges, pax Higher pax costs and depreciation & leased flown revenue aircraft charges and others -$284.3M (-37.7%) -316.9 470.2 -119.0 Q
Slide 14: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group Q1 Q1 Better/ Better/ FY24/25 FY23/24 (Worse) (Worse) ($’M) ($’M) ($’M) (%) Full-service carrier 468.4 737.5 (269.1) (36.5) Low-cost carrier 2.6 23.7 (21.1) (89.0) SIAEC Group 1.0 0.4 0.6 150.0 Slide 14 The copyright in this material (other than
Slide 15: Group Net Profit Q1 FY24/25 $451.7M
Group Net Profit Group Net Profit ($'M) 734.0 707.1 658.7 575.0 Q1 FY24/25 $451.7M 451.7 YoY $282.3M (-38.5%) Q1 Q2 Q3 Q4 Q1 FY23/24 FY23/24 FY23/24 FY23/24 FY24/25 Slide 15 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd
Slide 16: Group Net Profit (Y-o-Y progression)
Group Net Profit (Y-o-Y progression) Group Net Profit ($'M) Lower operating 734.0 profit Largely: -$282.3M • Lower share of profits of (-38.5%) associated companies (-6.2) • A reduction in surplus on disposal of aircraft, spares Lower net and spare engines (-8.3) +40.8 interest income 451.7 -284.3 -
Slide 17: Group Financial Results
Group Financial Results Q1 FY24/25 Q1 FY23/24 Earnings Per Share (cents) - Basic R1 12.8 14.3 - Adjusted Basic R2 15.2 24.7 - Diluted R3 12.4 14.0 EBITDA ($’M) R4 1,218.9 1,505.1 EBITDA margin (%) R5 25.8 33.6 R1 Earnings per share (basic) is computed by dividing profit attributable to owners of the
Slide 18: Group Financial Position
Group Financial Position As at 30 June 2024 As at 31 March 2024 Total assets ($’M) 42,882.5 44,264.7 Total debt ($’M) 13,329.6 13,448.0 Total cash and bank balances ($’M) 10,093.1 11,268.8 Total liabilities ($’M) 27,406.3 27,520.1 Equity attributable to Owners of the Company ($’M) 15,060.8 16,337.9
Slide 19: 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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