Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q1 FY22/23 Earnings Presentation
16 slides from Singapore Airlines's earnings presentation, Jul 29, 2022
Slide 1: SIA Group Business Update Q1 FY22/23
SIA GROUP BUSINESS UPDATE Q1 FY22/23 (Ended 30 June 2022) 29 July 2022
Slide 2: Summary – Q1 FY22/23 Results
Group Financial Results Summary – Q1 FY22/23 Results Second highest quarterly operating profit in SIA Group’s history^ ▪ Significant growth in passenger revenue with strong recovery in travel demand ▪ Cargo revenue weaker quarter-on-quarter, but remained elevated compared to pre-Covid ▪ Fuel prices
Slide 3: Group Operating Statistics
Group Operating Statistics Calibrated capacity recovery continued, riding on strong recovery momentum % vs Pre-Covid (Jan’20) 90.0% ASK 80.0% 77.0% Q1 QoQ 73.5% 72.0% +28.9% 70.0% 66.7% 62.8% 60.7% Q1 YoY 60.0% 56.8% 56.3% 51.6% +129.3% 50.0% 47.1% 43.6% 40.0% 37.9% 38.7% Overall CTK 32.2% 30.0% 26.
Slide 4: Group Financial Results
Group Financial Results Q1 Q4 Better/ Better/ Q1 Better/ Better/ FY22/23 FY21/22 (Worse) (Worse) FY21/22 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) (%) Total Revenue 3,910.9 2,471.9 1,439.0 58.2% 1,294.4 2,616.5 202.1% Total Expenditure 3,354.5 2,538.5 (816.0) (32.1)% 1,568.8 (1,785.7) (113.8
Slide 5: Revenue (Q1 FY22/23)
Group Revenue (Q1 FY22/23) Sharp rise in demand as Singapore fully opened its borders to fully vaccinated travellers since April 2022 Group Revenue ($’M) Singapore fully opens borders 3,910.9 Q1 (QoQ) Expansion Re-opening of borders $1,439.0M of VTLs^ (+58.2%) 2,471.9 2,316.0 1,294.4 1,532.5 Q1 (YoY
Slide 6: Expenditure (Q1 FY22/23)
Group Expenditure (Q1 FY22/23) Group expenditure increased on expansion of operations Group Expenditure ($’M) 3,354.5 Q1 (QoQ) $816.0M 2,538.5 (+32.1%) 2,239.7 1,877.5 Q1 (YoY) 1,568.8 $1,785.7M (+113.8%) Q1 Q2 Q3 Q4 Q1 FY21/22 FY21/22 FY21/22 FY21/22 FY22/23 Slide 6 The copyright in this material (
Slide 7: Operating Performance (Q1 FY22/23)
Group Operating Performance (Q1 FY22/23) Record first quarter operating profit on the back of a sharp improvement in travel demand Group Operating Performance ($’M) 556.4 Q1 (QoQ) $623.0M (n.m.) 76.3 Q1 (YoY) -66.6 $830.8M (n.m.) -274.4 -345.0 Q1 Q2 Q3 Q4 Q1 FY21/22 FY21/22 FY21/22 FY21/22 FY22/23 S
Slide 8: Financials (Q1 FY22/23 vs Q4 FY21/22)
Group Financials (Q1 FY22/23 vs Q4 FY21/22) Record first quarter operating profit on the back of a sharp improvement in travel demand Group Revenue ($'M) Group Expenditure ($'M) 3,910.9 (+58.2%) 138.9 3,354.5 (+32.1%) (+0.6%) Others^ 1,096.3 2,538.5 (-1.5%) 2,471.9 2,081.8 138.1 Cargo flown (+16.1%)
Slide 9: Net Fuel Cost (Q1 FY22/23 vs Q4 FY21/22)
Net Fuel Cost (Q1 FY22/23 vs Q4 FY21/22) Net fuel cost up mainly due to higher fuel prices and volume uplifted, partially mitigated by higher fuel hedging gain Group Fuel Cost Analysis ($'M) +413.9 -90.6 +16.9 1,272.7 Higher Stronger +186.8 hedging USD +$527.0M (+70.7%) 745.7 Higher gain against wei
Slide 10: Operating Performance (Q1 FY22/23 vs Q4 FY21/22)
Group Operating Performance (Q1 FY22/23 vs Q4 FY21/22) Reversal from operating loss to operating profit driven by strong improvement in pax flown revenue Group Operating Performance ($'M) Higher costs from Higher pax increased flying activities flown revenue (e.g. higher staff costs, +1,455.4 -17.2
Slide 11: Operating Results for the Main Companies of the Group
Operating Results for the Main Companies of the Group QoQ QoQ YoY YoY Q1 Q4 Q1 Better/ Better/ Better/ Better/ FY22/23 FY21/22 FY21/22 (Worse) (Worse) (Worse) (Worse) ($’M) ($’M) ($’M) $M (%) $M (%) Full-service carrier 624.3 84.6 539.7 637.9 (152.6) 776.9 n.m. Low-cost carrier (51.9) (134.5) 82.6 6
Slide 12: Net Performance (Q1 FY22/23)
Group Net Performance (Q1 FY22/23) Reversal from net loss to net profit driven by better operating performance and absence of non-cash impairment charges, partially offset by tax expense vs tax credit last quarter Group Net Performance ($’M) 370.4 Q1 (QoQ) $580.3M 84.7 (n.m.) Q1 (YoY) -209.9 $779.6M
Slide 13: Net Performance (Q1 FY22/23 vs Q4 FY21/22)
Group Net Performance (Q1 FY22/23 vs Q4 FY21/22) Reversal from net loss to net profit driven by better operating performance and absence of non-cash impairment charges, partially offset by tax expense vs tax credit last quarter Group Net Performance ($'M) +623.0 -42.7 370.4 Mainly due to: ▪ Tax expe
Slide 14: Financial Results
Group Financial Results Q1 FY22/23 Q4 FY21/22 Q1 FY21/22 Earnings/(Loss) per share (cents) - Basic R1 5.8 (3.3) (9.2) - Adjusted Basic R2 12.5 (7.1) (13.8) - Diluted R3 5.6 (3.3) (9.2) EBITDA ($ million) R4 1,049.4 380.0 143.9 EBITDA margin (%) R5 26.8 15.4 11.1 R1 Earnings/(Loss) per share (basic)
Slide 15: Financial Position
Group Financial Position As at 30 June 2022 As at 31 March 2022 Total assets ($’M) 51,319.4 48,671.0 Total debt ($’M) 15,653.1 15,694.8 Total cash and bank balances ($’M) 16,112.2 13,762.7 Total liabilities ($’M) 27,991.5 25,870.6 Equity attributable to Owners of the Company ($’M) 22,934.5 22,411.9
Slide 16: 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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