6-Nov-2015 10:34 AM
SIA Group operating profit down 2% but net profit more than doubles in 2QFY2016
SIA Group revenue down 2% - financial highlights:
- Three months ended 30-Sep-2015:
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- Total revenue: SGD3845 million (USD2764 million), -1.5% year-on-year;
- Total costs: SGD3716 million (USD2674 million), -1.5%;
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- Fuel: SGD1211 million (USD870.7 million), -15.3%;
- Operating profit (loss): SGD129 million (USD92.7 million), -2.3%;
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- Singapore Airlines: SGD98 million (USD70.5 million), -29.0%;
- SIA Engineering: SGD27 million (USD19.4 million), +68.8%;
- SilkAir: SGD21 million (USD15.1 million), +600%;
- SIA Cargo: (SGD3 million) (USD2.2 million), compared to a loss of SGD16 million (USD11.5 million) in p-c-p;
- Scoot: (SGD2 million) (USD1.4 million), compared to a loss of SGD19 million (USD13.7 million) in p-c-p;
- Net profit: SGD213.6 million (USD153.6 million), +135%;
- Six months ended 30-Sep-2015:
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- Total revenue: SGD7578 million (USD5544 million), -0.1%;
- Total costs: SGD7338 million (USD5368 million), -1.1%;
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- Fuel: SGD2464 million (USD1802 million), -12.1%;
- Operating profit (loss): SGD240 million (USD175.6 million), +40.4%;
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- Singapore Airlines: SGD206 million (USD150.7 million), +12.6%;
- SIA Engineering: SGD48 million (USD35.1 million), +29.7%;
- SilkAir: SGD26 million (USD19.0 million), +420%;
- SIA Cargo: (SGD12 million) (USD8.8 million), compared to a loss of SGD34 million (USD24.9 million) in p-c-p;
- Scoot: (SGD22 million) (USD16.1 million), compared to a loss of SGD44 million (USD32.2 million) in p-c-p;
- Tiger Airways: (SGD10 million) (USD7.3 million);
- Net profit: SGD304.8 million (USD223,0 million), +142%;
- Passenger numbers:
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- SIA: 9.5 million, +0.1%;
- SilkAir: 1.9 million, +8.2%;
- Scoot: 1.1 million, +15.3%;
- Tiger Airways: 2.6 million, -3.2%;
- SIA Cargo volume: 564,600 tonnes, +1.6%;
- Passenger load factor:
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- SIA: 80.0%, +0.2 ppt;
- SilkAir: 71.3%, 1.6 ppt;
- Scoot: 83.1%, +3.0 ppts;
- Tiger Airways: 83.8%, +0.2 ppt;
- Passenger breakeven load factor:
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- SIA: 81.9%, +1.2 ppt;
- SilkAir: 69.4%, -3.5 ppts;
- Scoot: 98.1%, -9.6 ppts;
- Tiger Airways: 88.1%, -7.1 ppts;
- Passenger yield:
- Revenue per ASK:
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- Scoot: SGD 5.3 cents (USD 3.9 cents), +1.9%;
- Tiger Airways: SGD 6.7 cents (USD 4.9 cents), +6.3%;
- Total assets: SGD23,903 million (USD17,486 million);
- Total debt: SGD1395 million (USD1020 million). [more - original PR]
*Based on the average conversion rate at USD1 = SGD1.3909 for three months ended 30-Sep-2015
*Based on the average conversion rate at USD1 = SGD1.367 for six months ended 30-Sep-2015
SIA Group: "Uncertainty in economic conditions persists, exacerbated by concerns about China's slowing economy, which have led to weakening emerging-market currencies and volatility in stock markets. The outlook for both passenger and cargo traffic is cautious. Yields remain under pressure in the face of capacity additions from other airlines. Advance passenger bookings for the October-December quarter are positive, but mainly bolstered by promotional activities." Source: Company statement, 05-Nov-2015.