Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — FY2024/25 Earnings Presentation
46 slides from Singapore Airlines's earnings presentation, May 16, 2025
Slide 1: SIA Group Analyst/Media Briefing FY24/25 Results
SIA Group Analyst/Media Briefing FY24/25 Results (Ended 31 March 2025) 16 May 2025 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 sourc
Slide 2: Presentation by Chief Financial Officer Ms. Tan JoAnn
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 Operating profit of $1,709.1 million for FY24/25, 37.3% lower than a year ago Record Revenue Expenditure 19,539.8 million 17,830.7 million +2.8% YoY +9.5% YoY Pax Flown Revenue Cargo Revenue Net Fuel Costs Non-Fuel Costs 15,848.5 million 2,212.2 million 5,385.5
Slide 4: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group Better/ Better/ 2H 2H Better/ Better/ FY24/25 FY23/24 (Worse) (Worse) FY24/25 FY23/24 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Full-service carrier 1,668.9 2,635.2 (966.3) (36.7) 883.0 1,123.0 (240.0) (21.4) Low-cost carrier 35
Slide 5: Group Operating Statistics
Group Operating Statistics FY24/25: Overall capacity rose by 8.9% with pax capacity up 8.2% and cargo capacity up 10.1% ASK CTK Overall CTK FY24/25 (YoY) FY24/25 (YoY) FY24/25 (YoY) +8.2% +10.1% +8.9% 2H (YoY) 2H (YoY) 2H (YoY) +5.7% +10.0% +7.3% Pax Capacity - ASK (million) Cargo Capacity - CTK (mi
Slide 6: Group Financial Results
Group Financial Results Better/ Better/ 2H 2H Better/ Better/ FY24/25 FY23/24 (Worse) (Worse) FY24/25 FY23/24 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Total Revenue 19,539.8 19,012.7 527.1 2.8 10,042.4 9,850.3 192.1 2.0 Total Expenditure 17,830.7 16,285.2 (1,545.5) (9.5) 9,128.9 8
Slide 7: Group Revenue
Group Revenue FY24/25: Strong passenger and cargo demand drives SIA Group’s highest-ever full year revenue Group Revenue ($'M) Record Quarterly Revenue 5,081.9 5,218.6 FY24/25 4,479.4 4,683.0 4,768.4 4,718.4 4,779.0 4,823.8 Record Revenue 518.7 559.4 498.8 561.6 613.7 496.4 $19,539.8M 541.7 540.5 Yo
Slide 8: Group Operating Statistics - Passenger
Group Operating Statistics - Passenger FY24/25: Passenger traffic showed robust growth of 6.4% FY24/25 RASK: 9.0¢/ask PLF: 86.6% RASK PLF (%) (₵/ask) 2H FY24/25 RASK: 9.1¢/ask 100 9.3 PLF: 86.8% 9.3 10 8.9 FY19/20 Group RASK 8 (7.5¢/ask) 90 6 86.5 87.2 86.4 FY19/20 Group PLF (82.4%) 4 80 2 70 0 Q1 Q
Slide 9: SIA and Scoot Operating Statistics - Passenger
SIA and Scoot Operating Statistics - Passenger FSC: SIA Operating Statistics LCC: Scoot Operating Statistics FY24/25 FY24/25 RASK: 9.8¢/ask RASK: 5.9¢/ask PLF: 86.1% PLF: 88.4% RASK RASK PLF (%) PLF (%) 2H FY24/25 (₵/ask) 2H FY24/25 (₵/ask) RASK: 9.9¢/ask RASK: 6.2¢/ask 100 PLF: 86.4% 12 100 6.4 PLF
Slide 10: Group Operating Statistics - Cargo
Group Operating Statistics - Cargo FY24/25: Robust cargo demand lifted cargo load factor by 1.6 percentage points FY24/25 Yield: 36.5¢/ltk Cargo Yield CLF (%) CLF: 56.1% (₵/ltk) 2H FY24/25 100 50 Yield: 36.9¢/ltk CLF: 54.9% 38.5 40 80 35.2 35.0 FY19/20 Yield (30.5¢/ltk) 30 FY19/20 CLF 60 (59.3%) 57.
Slide 11: Group Expenditure
Group Expenditure FY24/25: Total expenditure grew 9.5%, driven by capacity growth and cost escalation, partially mitigated by cost management measures Group Expenditure ($'M) 4,589.7 4,539.2 4,472.9 4,203.7 4,248.2 4,453.6 FY24/25 3,724.9 3,883.7 $17,830.7M 3,019.1 2,864.0 2,877.9 3,094.0 3,277.3 3,
Slide 12: Group Expenditure
Group Expenditure Depreciation & Leased Handling Charges Aircraft Charges Aircraft Maintenance and $2,339.6M $1,390.4M Overhaul Costs (+$233.4M, +11.1%) (+$195.1M, +16.3%) Staff Costs $643.5M $3,764.5M (-$83.8M, -11.5%) 13.1% (+$213.2M, +6.0%) 7.8% Landing, Parking & 3.6% 21.1% Overflying Charges 5.
Slide 13: Net Fuel Cost and Fuel Hedging
Net Fuel Cost and Fuel Hedging FY24/25: Net fuel cost up 6.1% on higher uplift volume and lower hedging gains, partially offset by lower fuel prices Group Fuel Cost Analysis ($'M) +507.9 -509.6 +335.9 -25.3 5,385.5 +$308.9M 5,076.6 Weakening of (+6.1%) Higher Lower weighted Lower USD against SGD vol
Slide 14: Fuel Hedging Status
Fuel Hedging Status Opportunistic long-term hedges to extend the hedge profile up to 5 years Percentage Average Hedged Hedged Price Fuel Hedging Position (%) (USD/BBL) (as of 1 May 2025) Brent MOPS Brent MOPS Q1 - 49 - 90 Q2 1 48 66 89 FY25/26 Q3 11 32 70 88 Q4 17 20 70 87 FY26/27 12 7 69 82
Slide 15: Group Operating Profit
Group Operating Profit Group Operating Profit ($'M) 799.3 754.5 FY24/25 609.0 628.9 $1,709.1M 564.7 470.2 YoY $1,018.4M 325.4 284.6 (-37.3%) 2H (YoY) $260.2M (-22.2%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23/24 FY24/25 Slide 15 The copyright in this material (other than in respect of information from external s
Slide 16: Group Operating Profit (YoY progression)
Group Operating Profit (YoY progression) Group Operating Profit ($'M) Higher net +93.6 fuel cost +163.8 Higher Higher 2,727.5 staff costs Higher cargo handling Higher Higher pax revenue charges passenger flown revenue -308.9 costs -213.2 Others -$1,018.4M -195.1 (-37.3%) -158.7 1,709.1 -399.9 FY23/2
Slide 17: Group Net Profit
Group Net Profit FY24/25: Record net profit boosted by the one-off non-cash accounting gain on disposal of Vistara Group Net Profit ($'M) 1,626.0 FY24/25 Record Net Profit One-off non-cash $2,778.0M accounting gain on disposal of Vistara YoY ($1,097.9M) $103.2M 734.0 707.1 658.7 (+3.9%) 575.0 451.7
Slide 18: Group Net Profit (YoY progression)
Group Net Profit (YoY progression) Group Net Profit ($'M) Lower +1,097.9 2,778.0 2,674.8 operating profit +$103.2M (+3.9%) Loss on disposal Lower share Lower net of aircraft, of profits of interest spares & spare associated +47.6 income engines vs gain +189.4 1,680.1 companies vs last year -1,018.4
Slide 19: Group Financial Position
Group Financial Position The Group fully redeemed the remaining 2021 MCBs in June 2024 As at As at 31 March 2025 31 March 2024 Total assets ($’M) 43,086.8 44,264.7 Total debt ($’M) 12,914.3 13,448.0 Total cash and bank balances ($’M) R1 8,257.1 11,256.0 Fixed deposits (placed for tenors longer than
Slide 20: Group Financial Results
Group Financial Results FY24/25 Earnings Per Share (cents) - Basic R5 89.3 - Adjusted Basic R6 89.3 - Diluted R7 85.3 EBITDA ($’M) R8 5,741.3 - Ex cluding one-off $1.1 billion gain on disposal of Vistara 4,643.4 EBITDA margin (%) R9 29.4 - Ex cluding one-off $1.1 billion gain on disposal of Vistara
Slide 21: Group Operating Fleet Development
Group Operating Fleet Development The Group’s operating fleet is expected to expand by 13 aircraft to 218 by the end of the financial year Operating Fleet As at 31 March 2025 In Out As at 31 March 2026 SIA 777-300ER 22 22 A380-800 12 12 A350-900 65 65 787-10 26 +2R1 28 737-800 NG 4 -4R2 0 737-8 16 +
Slide 22: Projected Group Capital Expenditure
Projected Group Capital Expenditure Projected Capital Expenditure FY25/26 FY26/27 FY27/28 FY28/29 FY29/30 ($’M) Aircraft 3,200 3,900 3,600 3,600 2,600 Others 800 700 500 300 300 Total 4,000 4,600 4,100 3,900 2,900 Slide 22 The copyright in this material (other than in respect of information from ext
Slide 23: Presentation by Chief Executive Officer Mr Goh Choon Phong
PRESENTATION BY: Chief Executive Officer Mr Goh Choon Phong 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 n
Slide 24: Challenges faced by the Aviation Industry; Well-positioned for the Future
1 Challenges faced by the Aviation Industry 2 Well-positioned for the Future Slide 24 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 so
Slide 25: Challenges faced by the Aviation Industry
Challenges faced by the Aviation Industry Intensifying Supply Chain Cost Inflation Geopolitical Competition Disruption Climate Change Tensions Slide 25 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines L
Slide 26: These challenges are industry-wide and not unique to the SIA Group
Challenges faced by the Aviation Industry Macroeconomic Volatility These challenges are industry-wide and not unique to the SIA Group Slide 26 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has no
Slide 27: Macroeconomic Volatility
Macroeconomic Volatility Tariffs and shifting global economic landscape Long-standing rules governing international trade are changing, creating worldwide ripple effects Threats of inflation, economic slowdown or recession, supply chain disruption The SIA Group is well-positioned to respond, tha
Slide 28: Strong Foundations: Financial Strength
Strong Foundations: Financial Strength The Group’s balance sheet remains among the strongest in the industry Strong Liquidity Strong Balance Sheet $8.3B $1.8B $3.3B 0.82 Cash balance Fixed deposits (placed Committed lines of Debt/Equity as at 31 March 2025 for tenors >12 mths) credit, all untapped a
Slide 29: Strong Foundations: Digital Capabilities
Strong Foundations: Digital Capabilities Digital as a critical layer to support business and drive new business growth Improving customer experience Optimised Operations Productive Workforce • Digital channels (SAA+SQM) now accounts for 42.3% • Project Polaris & SAP: Completed the • Digital tool sui
Slide 30: SIA Gen AI Journey
SIA Gen AI Journey Expanding Horizons and Accelerating Innovation. Total use cases: >270 Completed: 70 Expanded Capabilities External Collaborations AI that can Mar 2025 Apr 2025 see, hear and do On-prem models for • Partnership with Salesforce to • Partnership with OpenAI to co- Beyond current text
Slide 31: Strong Foundations: Talented People
Strong Foundations: Talented People Our people are our greatest asset Building a Future-Ready Workforce Through Innovation, Agility, and Continuous Transformation IDEATION PLATFORM Culture Upskilling Tools Fostering a culture of Innovation Uplifting the organisation with Empowering with the right to
Slide 32: Well positioned to respond – Diversified Network
Macroeconomic Volatility Well positioned to respond – Diversified Network SIA Group's ASKs for FY24/25 12% 25% North Asia 12% South West Pacific Group network is diversified Europe across the regions South East Asia West Asia/Africa 12% Americas 20% 19% Slide 32 The copyright in this material (other
Slide 33: Diversified Network: SIA FSC Network
Macroeconomic Volatility Well positioned to respond – Diversified Network SIA FSC Network (Frequencies) Diversified geographic presence Total Weekly Frequency: 1160 enables us to capture shifts in global passenger flows quickly and tap on market trends Europe 120 Flights Weekly North Asia 255 Flig
Slide 34: Diversified Network and Group Portfolio Strategy
Macroeconomic Volatility Diversified Network and Group Portfolio Strategy SIA Group Network (Frequencies) Total Weekly Frequency: 1709 (+47%) Diversified network enhanced by Group Portfolio Strategy Europe 124 Flights Weekly (+3%) +1 new destinations North Asia Scoot’s growing footprint in Asia,
Slide 35: Partnerships strategy
Macroeconomic Volatility Well positioned to respond – Partnerships strategy Enhancing connectivity to bring our customers anywhere in the world 121 airline partners 33 of which are codeshare partners 253 additional destinations *As of Apr 25 Slide 35 The copyright in this material (other than in res
Slide 36: Stronger together with our strategic partners
Macroeconomic Volatility Stronger together with our strategic partners We have built up strategic partnerships with airlines EUR spreading across diverse but critical geographical areas N.Asia WAA Our direct participation in SEAsia India’s growth continues with our investment in Air India SWP *A
Slide 37: Effective Cost Management
Effective Cost Management 10.0 9.0 Commitment to cost management includes our continuous investment into 8.0 digital capabilities including GenAI to increase operational efficiencies and productivity 7.0 FSC CASK (ex-fuel)(¢/ASK) Covid-19 pandemic 6.0 5.0 4.0 3.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 38: Supply Chain Disruption
Supply Chain Disruption Proactive steps to mitigate impact on capacity growth SIA Group Capacity Exercise flexibility to extend the use of existing aircraft (ASK) Active engagement with OEMs to mitigate shortage of aircraft spare parts Build up buffer stock of critical spares including FY2425
Slide 39: Product Leadership & Service Excellence Highlights
Product Leadership & Service Excellence Highlights Elevating travel experience for our customers, on ground and in the air Best-in-class service for our customers Enhanced in-flight experience with new F&B offerings, Delivering customer service excellence through SMART (Speech Motivator amenities,
Slide 40: Next Generation Products
Next Generation Products Product Leadership: Redefining the Long-Haul Inflight Experience Redefining the long-haul travel experience with all new products on B777-9 and cabin upgrades for 34 A350-900LHs and 7 A350-900ULRs • Premium class seats that push the boundaries of comfort, luxury, and moder
Slide 41: Well Positioned for the Future: KrisFlyer Membership
Well Positioned for the Future Creating opportunities to grow our revenue beyond flying KrisFlyer Membership 10,500,000 10,228,107 10.2M 10,000,000 KrisFlyer members as of 31 Mar 2025 9,500,000 9,000,000 Top Growth Countries 8,820,654 Australia 8,500,000 China India 8,000,000 USA +16.0% 7,50
Slide 42: Sustainability: Net Zero by 2050
Well Positioned for the Future Sustainability Net Zero by 2050 SIA Group has embarked on new initiatives this year as part of our decarbonisation journey towards Net Zero by 2050 and 5% SAF target by 2030 • Further SAF offtakes of 1,000T neat SAF with Neste and approximately 2,000T neat SAF in the
Slide 43: Corporate Social Responsibility and SIA Foundation
Well Positioned for the Future Corporate Social Responsibility and SIA Foundation Corporate Social Responsibility SIA Foundation Building on our long-standing commitment to give Established in June 2024 to make meaningful and lasting impact back to the communities we serve in the lives of individu
Slide 44: SG60 SIA Initiatives
SG60 SIA Initiatives To commemorate Singapore’s 60th year of independence, SIA Group has launched a series of SG60-themed initiatives: • SIA & Scoot SG60 Celebratory Fare Deals • Limited-Edition Scoot Aircraft Model • KrisFlyer Promotions • Heritage Collection by KrisShop • Classic Singaporean In-f
Slide 45: We are well positioned for the future
We are well positioned for the future Portfolio and Partnerships Multi-hub New Revenue Brand Promise Sustainability Digital Capabilities Financial Strength Talented People Slide 45 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airli
Slide 46: 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