Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q1 FY21/22 Earnings Presentation
17 slides from Singapore Airlines's earnings presentation, Jul 30, 2021
Slide 1: SIA Group Business Update Q1 FY21/22
SIA Group Business Update Q1 FY21/22 (ended 30 June 2021) 30 July 2021 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 mat
Slide 2: Summary – Q1 FY21/22 results
Group Financial Results Summary – Q1 FY21/22 results SIA Group narrows first quarter net loss to $409 million Operating loss was $274 million for Q1 FY21/22: • Improvement of $763 million (73.6%) year-on-year • Fair value gain of $72 million on fuel derivatives recorded for the quarter, compared to
Slide 3: Group Financial Results
Group Financial Results Q1 Q1 Better/ Better/ FY21/22 FY20/21 (Worse) (Worse) ($’M) ($’M) ($’M) (%) Total Revenue 1,295 851 444 52.2 Total Expenditure 1,569 1,888 319 16.9 -- Net fuel cost 360 155 (205) (132.3) Fuel cost (before hedging) 373 84 (289) n.m. Fuel hedging (gain)/loss (13) 71 84 n.m. --
Slide 4: Revenue Q1 FY21/22
Group Revenue Q1 FY21/22 Growth in flown revenue with gradual reinstatement of the passenger network Group Revenue ($’M) 1,295 1,115 Q1 FY21/22 1,067 $1,295M 851 783 Year-on-Year $444M (+52.2%) Q1 Q2 Q3 Q4 Q1 FY20/21 FY20/21 FY20/21 FY20/21 FY21/22 Slide 4 The copyright in this material (other than
Slide 5: Revenue Q1 FY21/22 – Cargo performance
Group Revenue Q1 FY21/22 Robust cargo performance continued to lead revenue contribution Passenger Business: Group Revenue Breakdown • Pax traffic grew as the SIA Group progressively Passenger Flown rebuilds its network. Passenger capacity rose to 28% Cargo & Mail Revenue of pre-Covid levels by the
Slide 6: Expenditure Q1 FY21/22
Group Expenditure Q1 FY21/22 Decline mainly due to FV gain on fuel hedging derivatives and absence of fuel hedging ineffectiveness Group Expenditure ($’M) 1,888 Q1 FY21/22 $1,569M 1,609 1,569 1,434 Year-on-Year 1,398 $319M (-16.9%) Q1 Q2 Q3 Q4 Q1 FY20/21 FY20/21 FY20/21 FY20/21 FY21/22 Slide 6 The c
Slide 7: Expenditure Q1 FY21/22 - Adjusted
Group Expenditure Q1 FY21/22 - Adjusted Increase in adjusted expenditure driven by higher deployment of capacity Group Expenditure ($’M) – Adjusted (Excluded impact of fuel hedging ineffectiveness and FV gain/loss on fuel derivatives) Q1 FY21/22 $1,641M 1,632 1,641 1,549 1,510 1,424 Year-on-Year $21
Slide 8: Expenditure Q1 FY21/22
Group Expenditure Q1 FY21/22 Higher net fuel cost and non-fuel expenditure for first quarter on increased flying activities Group expenditure increased $217 million (+15.2%) y-o-y Cost Composition (excluding the impact of fair value gain or loss on fuel derivatives and fuel hedging ineffectiveness):
Slide 9: Net Fuel Cost Q1 FY21/22
Net Fuel Cost Q1 FY21/22 Net fuel cost up due to higher fuel prices and volume uplifted, partially mitigated by hedging gain and forex Group Fuel Cost Analysis ($’M) +223 -84 -27 360 Fuel hedging Weaker gain vs loss USD last year against +93 +$205M SGD (+132.3%) Higher weighted 155 average Higher fu
Slide 10: Operating Loss Q1 FY21/22
Group Operating Loss Q1 FY21/22 Operating losses continued to reduce Group Operating Loss ($’M) Q1 FY21/22 -274 -$274M -331 -319 Year-on-Year $763M (+73.6%) -826 -1,037 Q1 Q2 Q3 Q4 Q1 FY20/21 FY20/21 FY20/21 FY20/21 FY21/22 Slide 10 The copyright in this material (other than in respect of informatio
Slide 11: Operating Loss Q1 FY21/22 - Adjusted
Group Operating Loss Q1 FY21/22 - Adjusted Operating losses continued to reduce even on adjusted basis Group Operating Loss ($’M) – Adjusted (Excluded fuel hedging ineffectiveness and FV gain/loss on fuel derivatives) Q1 FY21/22 -$346M -346 -482 -517 Year-on-Year -573 $227M -726 (+39.6%) Q1 Q2 Q3 Q4
Slide 12: Operating Loss Q1 FY21/22
Group Operating Loss Q1 FY21/22 Operating loss narrowed mainly on flown revenue improvement and absence of fuel hedging ineffectiveness Group Operating Loss ($’M) +74 -59 +462 FV gain Higher costs from -274 vs loss increased flying last year activities (e.g. Higher +214 -205 landing & parking, pax f
Slide 13: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group All major entities recorded lower losses Q1 Q1 Better/ Better/ FY21/22 FY20/21 (Worse) (Worse) ($’M) ($’M) $M (%) Full-service carrier* (153) (768) 615 80.1 Low-cost carrier (114) (259) 145 56.0 SIAEC Group (3) (9) 6 66.7 * Includes results for S
Slide 14: Net Loss Q1 FY21/22
Group Net Loss Q1 FY21/22 Lower net loss in Q1 compared to last year Group Net Loss ($’M) 13.1% 69.8% -142 17.1% Q1 FY21/22 -409 -$409M -662 -1,123 Year-on-Year $714M (+63.6%) -2,344 Q1 Q2 Q3 Q4 Q1 FY20/21 FY20/21 FY20/21 FY20/21 FY21/22 Slide 14 The copyright in this material (other than in respect
Slide 15: Net Loss Q1 FY21/22
Group Net Loss Q1 FY21/22 Reduction in net loss mainly driven by better operating performance Group Net Loss ($’M) +763 -49 -409 Mainly due to: ▪ Lower tax credits due to +$714M lower losses (+63.6%) ▪ Higher net finance charges ▪ Partially offset by absence of prior year liquidation cost for -1,123
Slide 16: Financial Position
Group Financial Position As at 30 June 2021 As at 31 March 2021 Total assets ($’M) 44,448.9 37,581.3 Total debt ($’M) 15,056.4 14,336.9 Total cash and bank balances ($’M) 13,650.9 7,783.0 Total liabilities ($’M) 21,739.6 21,303.2 Equity attributable to Owners of the Company ($’M) 22,334.4 15,905.9 D
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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