Singapore Airlines Ltd. · SGX:C6L

Singapore Airlines — 1H FY2004-05 Earnings Presentation

21 slides from Singapore Airlines's earnings presentation, November 2004

  1. Slide 1: Half Year and 2nd Quarter Ended 30 September 2004 Financial Results

    Half Year and 2nd Quarter Ended 30 September 2004 Financial Results Slide 1

  2. Slide 2: Order of Presentation

    ORDER OF PRESENTATION • THE GROUP • THE AIRLINE COMPANY • THE MAJOR SUBSIDIARIES • DEVELOPMENTS • OUTLOOK Slide 2

  3. Slide 3: Group Results – 1H/04

    GROUP RESULTS – 1H/04 ($million) 1H/04 1H/03 04 vs 03 04 vs 02 % Change % Change Total Revenue 5,778.8 4,171.5 + 38.5 + 10.5 Total (5,140.6) (4,234.0) + 21.4 + 8.9 Expenditure Operating 638.2 (62.5) n.m. + 25.2 Profit/(Loss) Net Profit/ 615.9 (6.5) n.m. - 20.4* (Loss) Attributable to Shareholders *F

  4. Slide 4: Group Financial Statistics – 1H/04

    GROUP FINANCIAL STATISTICS – 1H/04 1H/04 1H/03 Earnings/(Loss) Per 50.6 (0.5) Share (¢) Interim Dividend Per 10.0 Nil Share (¢) Tax exempt (one-tier) At 30 Sep 04 At 31 Mar 04 Net Asset Value Per 9.67 9.40 Share ($) Total Debt to Equity 0.21:1 0.20:1 Ratio Slide 4

  5. Slide 5: Contribution to Group Operating Profit – 1H/04

    CONTRIBUTION TO GROUP OPERATING PROFIT – 1H/04 SilkAir Others 1% 3% SIA Cargo 15% SIAEC 10% SIA 54% SATS 17% Slide 5

  6. Slide 6: The Passenger Airline Company Results – 1H/04

    THE PASSENGER AIRLINE COMPANY RESULTS –1H/04 ($million) 1H/04 1H/03 04 vs 03 04 vs 02 % Change % Change Total Revenue 4,449.0 2,971.4 + 49.7 + 10.2 Total (4,102.0) (3,239.6) + 26.6 + 8.5 Expenditure Operating 347.0 (268.2) n.m. + 35.7 Profit/(Loss) Slide 6

  7. Slide 7: The Passenger Airline Company Operating Performance – 1H/04

    THE PASSENGER AIRLINE COMPANY OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Seat Capacity 51.6 39.6 + 30.4 (Billion ask) Passenger 38.1 27.7 + 37.9 Carriage (Billion pkm) Passenger Load 73.9 69.9 + 4.0 pts Factor (%) Slide 7

  8. Slide 8: The Passenger Airline Company Operating Performance – 1H/04

    THE PASSENGER AIRLINE COMPANY OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Revenue Yield 9.9 8.7 + 13.8 (¢/pkm) Unit Cost (¢/ask) 6.8 6.9 - 1.4 Passenger 68.7 79.3 - 10.6 pts Breakeven Load Factor (%) Unit Revenue 7.3 6.1 + 19.7 (¢/ask) Slide 8

  9. Slide 9: The Passenger Airline Company – 1H/04 Cost Composition

    THE PASSENGER AIRLINE COMPANY – 1H/04 COST COMPOSITION Others 21.0% Fuel (net) (+0.8 pt) 23.3% (+4.1 pts) Airport & overflying charges 6.1% (+0.5 pt) Handling Staff 8.8% 18.2% (+0.2 pt) (+1.5 pts) AMO Aircraft depr 9.2% & rental (-3.9 pts) 13.4% (-3.2 pts) Slide 9

  10. Slide 10: The Passenger Airline Company – Cost Analysis 1H/04

    THE PASSENGER AIRLINE COMPANY – COST ANALYSIS 1H/04 $954M Fuel (net) (+53.5%) $747M Staff (+38.1%) Aircraft $550M depr & (+2.5%) rental $376M AMO 1H/04 1H/03 (-11.3%) $363M Handling (+30.1%) $334M Sales costs (+65.2%) $778M Others (+22.5%) 0 200 400 600 800 1000 1200 $ million Slide 10

  11. Slide 11: The Passenger Airline Company Fuel Cost Analysis – 1H/04

    THE PASSENGER AIRLINE COMPANY FUEL COST ANALYSIS – 1H/04 $333 million increase in fuel costs (after hedging) : $ million 32.2% increase in volume uplifted + 199 39.7% increase in weighted average + 325 fuel price 2.8% weakening of USD against SGD - 32 Higher hedging gain - 159 + 333 Slide 11

  12. Slide 12: Subsidiaries Operating Profit – 1H/04

    SUBSIDIARIES OPERATING PROFIT – 1H/04 ($million) 1H/04 1H/03 04 vs 03 04 vs 02 % Change % Change SATS Group 106.3 80.7 + 31.7 - 12.8 SIA Cargo 95.3 60.7 + 57.0 n.m.* SIAEC Group 61.8 47.8 + 29.3 - 14.5 SilkAir 5.9 (4.2) n.m. - 28.9 Others 6.7 2.3 + 191.3 - 24.7 Total 276.0 187.3 + 47.4 + 17.0 *FY200

  13. Slide 13: SIA Cargo Results – 1H/04

    SIA CARGO RESULTS – 1H/04 ($million) 1H/04 1H/03 % Change Total Revenue 1,376.0 1,134.5 + 21.3 Total Expenditure (1,280.7) (1,073.8) + 19.3 Operating Profit 95.3 60.7 + 57.0 Net Profit 69.9 39.4 + 77.4 Slide 13

  14. Slide 14: SIA Cargo Operating Performance – 1H/04

    SIA CARGO OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Capacity 5,685.2 4,952.4 + 14.8 (M ctk) Load Carried 3,634.0 3,342.3 + 8.7 (M ltk) Cargo Load 63.9 67.5 - 3.6 pts Factor (%) Slide 14

  15. Slide 15: SIA Cargo Operating Performance – 1H/04

    SIA CARGO OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Cargo Yield 34.7 31.8 + 9.1 (¢/ltk) Unit Cost 21.1 20.6 + 2.4 (¢/ctk) Breakeven 60.8 64.8 - 4.0 pts Load Factor (%) Slide 15

  16. Slide 16: SilkAir Results – 1H/04

    SILKAIR RESULTS – 1H/04 ($million) 1H/04 1H/03 % Change Total Revenue 132.5 94.6 + 40.1 Total Expenditure (126.6) (98.8) + 28.1 Operating Profit 5.9 (4.2) n.m. Net Profit 2.8 (3.9) n.m. Slide 16

  17. Slide 17: SilkAir Operating Performance – 1H/04

    SILKAIR OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Capacity 186.4 139.8 + 33.3 (M ctk) Load Carried 97.0 67.9 + 42.9 (M ltk) Overall Load 52.1 48.6 + 3.5 pts Factor (%) Slide 17

  18. Slide 18: SilkAir Operating Performance – 1H/04

    SILKAIR OPERATING PERFORMANCE – 1H/04 1H/04 1H/03 % Change Overall Yield 127.2 130.5 - 2.5 (¢/ltk) Overall Unit 65.1 67.7 - 3.8 Cost (¢/ctk) Overall Breakeven 51.2 51.8 - 0.6 pt Load Factor (%) Slide 18

  19. Slide 19: Developments

    DEVELOPMENTS • Competition from Low Cost Carriers • Performance of Non-Stop Services to Los Angeles and New York • B777-300ER Aircraft Order • Progress on New Collective Agreements with Staff Unions Slide 19

  20. Slide 20: Outlook

    OUTLOOK • Fuel Prices and Hedging Position • Forward Bookings • Low Cost Carriers • Competition for SATS Slide 20

  21. Slide 21: Slide 21

    SIA NOW FLIES 3 TIMES A WEEK TO VIBRANT AMRITSAR, INDIA. Slide 21

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