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LATEST COMPANY ANNOUNCEMENT
SATS LTD – Singapore Airport Terminal Services.
SG1I52882764
Q4 FY24/25
Associate: Anne Ching
SATS POSTS FULL YEAR NET PROFIT OF S$243.8 MILLION
Highlights of FY25 (YoY)
- Revenue increased 13.0%1 to S$5.82B, driven by volume growth across all core business segments and market share gains in air-cargo
- EBITDA grew 32.7% to S$1.04B with margin expansion from 15.2% to 17.8%
- Free cash flow2 turned around from negative S$48.2M to positive S$228.3M
- Achieved S$103M3 EBITDA integration synergies within two years, well ahead of expectations
- Proposed final dividend for the year of 3.5 cents per share
Singapore, 23 May 2025 – SATS Ltd. (SATS) today reported its financial performance for the three months ended 31 March 2025 (4Q FY25) and the full year ended 31 March 2025 (FY25), showing resilient business growth driven by broad-based demand and continued market share gains. The Group has exceeded its integration target of $100M EBITDA synergies well ahead of expectations, reflecting strong integration execution and enhanced operational efficiency.
GROUP EARNINGS
4Q FY25 (1 January 2025 to 31 March 2025)
In 4Q FY25, SATS Group delivered revenue of S$1.48 billion, representing a 10.4% increase compared to the same period last year, driven by continued business volume growth and rate improvements. Gateway Services revenue rose 10.1% year-on-year to S$1.15 billion, reflecting both favourable market conditions and continued market share gains. Our cargo volumes outperformed IATA's global growth benchmarks, supported by broad-based demand and the redirection of certain ocean freight to air cargo due to ongoing Red Sea disruptions.
Food Solutions revenue increased 11.4% year-on-year to S$331.1 million, propelled by stronger demand for inflight meals amid the continued recovery in global travel. The Group's expenditure (excluding depreciation and amortisation) increased 9.1% year-on-year to S$1.22 billion, in line with expanded business volumes. Operating profit for 4Q FY25 rose by S$19.5 million year-on-year to S$108.3 million, with operating profit margin improving from 6.6% to 7.3%. This enhanced performance reflects scale and operational leverage derived from higher business volumes and improved customer rates.
The share of earnings from associates and joint ventures decreased by 30.7% to S$21.4 million year-on-year, partially due to timing differences in expense recognition, with certain non-recurring adjustments from prior periods being reflected in the current quarter. SATS posted PATMI of S$38.7...