Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q3 FY2022/23 Earnings Presentation
17 slides from Singapore Airlines's earnings presentation, Feb 22, 2023
Slide 1: SIA Group Business Update Q3 FY2022/23 Results
SIA Group Business Update Q3 FY2022/23 Results (Ended 31 December 2022) 22 February 2023 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 FY22/23 : Record operating profit of $755 million, an increase of $77 million from previous quarter Passenger revenue rose $463 million on the back of record quarterly PLF and RASK Cargo revenue fell $141 million with lower yields partially mitigated by s
Slide 3: Group Operating Statistics
Group Operating Statistics Riding on strong recovery momentum, Group passenger capacity reached 80% of pre-Covid levels in Dec’22 Percentage vs pre-Covid (January 2020) 90.7% 85.9% ASK 80.5% 77.0% 75.1% Q3 QoQ 73.5% 72.0% 74.2% 67.6% +11.1% 66.7% 62.8% 56.8% 60.7% 9M YoY 56.3% 51.6% +108.9% 47.1% 43
Slide 4: Group Financial Results
Group Financial Results Q3 Q2 Better/ Better/ 9M 9M Better/ Better/ FY22/23 FY22/23 (Worse) (Worse) FY22/23 FY21/22 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Total Revenue 4,846.4 4,488.3 358.1 8.0 13,262.9 5,142.9 8,120.0 157.9 Total Expenditure 4,091.4 3,810.3 (281.1) (7.4) 11,27
Slide 5: Group Revenue Q3 FY22/23 $4,846.4M
Group Revenue Record quarterly revenue in Q3 driven by sustained momentum in travel recovery Group Revenue ($'M) Pax traffic Sustained momentum Q3 FY22/23 Passenger Flown Revenue and load in travel recovery $4,846.4M Cargo Revenue factors Full remained Others re-opening robust 4,846.4 QoQ of borders
Slide 6: Group Operating Statistics - Passenger
Group Operating Statistics - Passenger Strong travel demand across all route regions amid year-end peak, with meaningful recovery on North Asia routes Record ₵/ask Group PLF % and RASK 12 100 10.6 90 10 FY19/20 Group PLF (82.4%) 87.4 80 70 8 FY19/20 Group RASK (7.5¢/ask) 60 6 50 40 4 30 20 2 10 0 0
Slide 7: Group Operating Statistics - Cargo
Group Operating Statistics - Cargo Weaker cargo performance as demand softened while bellyhold capacity increased; cargo yields remain elevated ₵/ltk % Record 100 100 Yield 90 81.5 90 80 80 70 64.4 70 FY19/20 CLF 60 60 (59.3%) 50 54.3 50 40 40 FY19/20 Yield 30 (30.5¢/ltk) 30 20 20 10 10 0 0 Q1 FY21/
Slide 8: Group Expenditure QoQ $281.1M
Group Expenditure Rise in Q3 non-fuel expenditure driven by higher foreign exchange losses, partially offset by decrease in net fuel cost Group Expenditure ($'M) Q3 FY22/23 9M Net fuel cost : $4,029.0M (+179.1% YoY) 9M Non-fuel expenditure^ : $7,244.5M (+70.8% YoY) $4,091.4M Net Fuel Cost (+67.7%, e
Slide 9: Net Fuel Cost and Fuel Hedging
Net Fuel Cost and Fuel Hedging QoQ decrease driven by a 13% drop in fuel prices, partially offset by higher uplift and lower hedging gain Group Fuel Cost Analysis ($'M) +102.5 -225.7 1,423.2 Strengthening of USD against Higher uplift SGD -$90.1M +13.7 (-6.3%) +19.4 1,333.1 Lower Lower weighted hedgi
Slide 10: Group Operating Performance YoY $2,532.5M
Group Operating Performance Group operating profit rose for a third consecutive quarter to reach a new record in Q3 FY22/23 Record Group Operating Performance ($'M) Quarterly Q3 FY22/23 Op Profit $755.0M 755.0 678.0 QoQ 556.4 $77.0M (+11.4%) 9M FY22/23 76.3 $1,989.4M YoY -66.6 $2,532.5M (n.m.) -274.
Slide 11: Group Operating Performance (QoQ progression)
Group Operating Performance (QoQ progression) Higher pax revenue and lower net fuel cost, partially offset by weaker cargo revenue and higher non-fuel expenditure Group Operating Performance ($'M) Lower cargo flown +463.2 revenue +90.1 Largely due to higher AMO^, -140.9 Lower staff costs net fuel -1
Slide 12: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group Foreign exchange losses significantly impacted SIA’s Q3 performance; record Q3 operating profit for Scoot Q3 Q2 Better/ Better/ 9M 9M Better/ Better/ FY22/23 FY22/23 (Worse) (Worse) FY22/23 FY21/22 (Worse) (Worse) ($’M) ($’M) $M (%) ($M) ($M) $M
Slide 13: Group Net Performance QoQ $71.5M
Group Net Performance QoQ increase driven by better operating performance, net interest income vs net finance charges last quarter, partially offset by higher tax expense Q3 FY22/23 Group Net Performance ($'M) $628.0M 628.0 556.5 QoQ $71.5M 370.4 (+12.8%) 84.7 9M FY22/23 $1,554.9M -209.9 YoY $2,307.
Slide 14: Group Net Performance (QoQ progression)
Group Net Performance (QoQ progression) QoQ increase driven by better operating performance, net interest income vs net finance charges last quarter, partially offset by higher tax expense Group Net Performance ($'M) Higher tax +13.8 expense +70.6 +77.0 628.0 +$71.5M 556.5 Net interest -89.9 (+12.8%
Slide 15: Group Financial Results
Group Financial Results Q3 FY22/23 Q2 FY22/23 9M FY22/23 9M FY21/22 Earnings / (Loss) per share (cents) - Basic R1 10.3 8.6 24.5 (13.0) - Adjusted Basic R2 21.1 18.7 52.4 (25.4) - Diluted R3 10.1 8.5 24.2 (13.0) EBITDA ($ million) R4 1,439.7 1,266.5 3,755.6 921.2 EBITDA margin (%) R5 29.7 28.2 28.3
Slide 16: Group Financial Position
Group Financial Position As at 31 December 2022 As at 31 March 2022 Total assets ($’M) 48,570.4 48,671.0 Total debt ($’M) 16,052.4 15,694.8 Total cash and bank balances ($’M) 15,355.3 13,762.7 Total liabilities ($’M) 28,732.3 25,870.6 Equity attributable to Owners of the Company ($’M) 19,443.3 22,41
Slide 17: 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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