Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q3 FY2023/24 Earnings Presentation
18 slides from Singapore Airlines's earnings presentation, Feb 21, 2024
Slide 1: SIA Group Business Update Q3 FY2023/24 Results
SIA Group Business Update Q3 FY2023/24 Results (Ended 31 December 2023) 21 February 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
Slide 2: Group Financial Results: Key Takeaways
Group Financial Results Key Takeaways Q3 FY2023/24 Net Profit rose 4.9% to $658.7 million, while Operating Profit fell 19.3% to $609.0 million Robust passenger demand on the back of a strong year-end peak drove a record quarterly Group revenue of $5,081.9 million Passenger flown revenue posted $
Slide 3: Group Operating Statistics
Group Operating Statistics The Group expects to return to pre-pandemic passenger capacity levels within FY2024/25 ASK CTK Overall CTK Q3 (YoY) Q3 (YoY) Q3 (YoY) +17.9% +1.6% +11.1% 9M (YoY) 9M (YoY) 9M (YoY) +24.9% +6.3% +16.7% Pax Capacity - ASK (million) Cargo Capacity - CTK (million) Overall Capa
Slide 4: Group Financial Results
Group Financial Results Q3 Q3 Better/ Better/ 9M 9M Better/ Better/ FY23/24 FY22/23 (Worse) (Worse) FY23/24 FY22/23 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Total Revenue 5,081.9 4,846.4 235.5 4.9 14,244.3 13,262.9 981.4 7.4 Total Expenditure 4,472.9 4,091.4 (381.5) (9.3) 12,081.5
Slide 5: Group Revenue 9M FY23/24 $14,244.3M
Group Revenue Boosted by strong year-end passenger demand, the Group set a record quarterly revenue in Q3 FY2023/24 Group Revenue ($'M) Strong rebound in pax traffic, growth led by North Record Asia following full border re- Quarterly Full opening for China, Japan, Revenue re-opening of Hong Kong SA
Slide 6: Operating Statistics - Passenger
Group Operating Statistics - Passenger Passenger load factors stay high even as capacity approaches pre-pandemic levels 9M FY23/24 RASK: 9.7¢/ask PLF (%) RASK Record PLF: 88.6% 100 Quarterly (₵/ask) Group RASK Record Q3 FY23/24 12 Quarterly RASK: 9.9¢/ask 10.6 Group PLF PLF: 88.2% 10 90 88.9 FY19/20
Slide 7: SIA and Scoot Operating Statistics - Passenger
SIA and Scoot Operating Statistics - Passenger Passenger demand remained strong for both airlines throughout the year-end travel peak FSC: SIA Operating Statistics LCC: Scoot Operating Statistics 9M FY23/24 9M FY23/24 RASK: 10.7¢/ask RASK: 6.3¢/ask PLF: 87.8% PLF: 91.0% Q3 FY23/24 Record Q3 FY23/24
Slide 8: Operating Statistics - Cargo
Group Operating Statistics - Cargo The cargo business benefited from stronger seasonal year-end demand, largely driven by e-commerce flows CLF (%) Cargo Yield 9M FY23/24 (₵/ltk) 100 Yield: 41.2¢/ltk 80 CLF: 53.7% 90 Q3 FY23/24 70 Yield: 40.3¢/ltk 80 CLF: 55.5% 60 70 50 60 FY19/20 CLF 40 (59.3%) FY19
Slide 9: Group Expenditure 9M FY23/24 $12,081.5M
Group Expenditure Expenditure rose less than capacity increase, driven by both fuel and non-fuel costs Group Expenditure ($'M) 4,472.9 9M FY23/24 3,810.3 4,091.4 3,809.2 3,883.7 $12,081.5M 3,724.9 3,371.8 3,019.1 9M (YoY) 2,387.1 2,758.3 2,628.8 2,654.0 YoY $808.0M 2,671.5 (+9.5%) 2,099.1 (+7.2%) Q3
Slide 10: Net Fuel Cost and Fuel Hedging
Net Fuel Cost and Fuel Hedging Increase in net fuel cost largely driven by higher uplift and lower hedging gain, partially offset by lower fuel prices and weakening of USD against SGD Group Fuel Cost Analysis ($'M) +176.3 -114.0 +109.2 -50.8 1,453.8 Weakening of USD against SGD +$120.7M Lower Lower
Slide 11: Group Operating Profit 9M FY23/24 $2,162.8M
Group Operating Profit Group Operating Profit ($'M) Record Quarterly Op Profit 799.3 9M FY23/24 755.0 754.5 $2,162.8M 702.7 678.0 609.0 556.4 9M (YoY) $173.4M (+8.7%) Q3 (YoY) $146.0M (-19.3%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/23 FY22/23 FY22/23 FY22/23 FY23/24 FY23/24 FY23/24 Slide 11 The copyright in this
Slide 12: Operating Profit (YoY progression)
Group Operating Profit (YoY progression) Higher pax flown revenue insufficient to offset lower cargo revenue and higher net fuel cost Group Operating Profit ($'M) Lower cargo +398.2 revenue Largely: • Lower foreign exchange losses • Higher staff costs, handling charges, Higher net passenger costs, a
Slide 13: 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/ FY23/24 FY22/23 (Worse) (Worse) FY23/24 FY22/23 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Full-service carrier 576.3 636.0 (59.7) (9.4) 2,088.5 1,944.4 144.1 7.4 Low-cost carrier 39.8
Slide 14: Group Net Profit 9M FY23/24 $2,099.8M
Group Net Profit Group Net Profit ($'M) Record Quarterly Net Profit 734.0 707.1 9M FY23/24 628.0 658.7 $2,099.8M 601.9 556.5 9M (YoY) $544.9M 370.4 (+35.0%) Q3 (YoY) $30.7M (+4.9%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 FY22/23 FY22/23 FY22/23 FY22/23 FY23/24 FY23/24 FY23/24 Slide 14 The copyright in this material (o
Slide 15: Net Profit (YoY progression)
Group Net Profit (YoY progression) YoY improvement driven by higher net interest income, surplus on disposal of aircraft, spares, and spare engines, share of profits of associated companies, lower tax expense and partially offset by lower operating profit Group Net Profit ($'M) Lower +123.5 Others o
Slide 16: Financial Results: EPS and EBITDA
Group Financial Results Q3 FY23/24 Q3 FY22/23 Earnings Per Share (cents) - Basic R1 16.0 10.3 - Adjusted Basic R2 22.1 21.1 - Diluted R3 15.6 10.1 EBITDA ($’M) R4 1,371.9 1,439.7 EBITDA margin (%) R5 27.0 29.7 R1 Earnings per share (basic) is computed by dividing profit attributable to owners of the
Slide 17: Group Financial Position
Group Financial Position As at 31 December 2023 As at 31 March 2023 Total assets ($’M) 43,333.9 49,101.2 Total debt ($’M) 13,747.5 15,339.3 Total cash and bank balances ($’M) 10,503.3 16,327.6 Total liabilities ($’M) 27,358.2 28,851.4 Equity attributable to Owners of the Company ($’M) 15,580.3 19,85
Slide 18: 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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