Singapore Airport Terminal Services 2QFY2010 revenue up 45.4%

Singapore Airport Terminal Services Ltd (SATS) revenue up 45.4% - financial highlights:

Three months ended 30-Sep-2009:

• Revenue: USD260.2 million, +45.4% year-on-year;
• Costs: USD230.1 million, +55.6%;
• Operating profit: USD30.5 million, -2.8%;
• EBITDA: USD46.9 million, +13.4%;
• Profit before tax: USD36.6 million, +19.8%;
• Net profit: USD29.4 million, +26.2%;
• Passenger numbers: 8.0 million, +2.5%;
• Cargo volume: 350,170 tonnes, -12.8%;
• Aircraft movements: 23,820, +7.0%;

Six months ended 30-Sep-2009:

• Revenue: USD513.7 million, +44.8%;
• Costs: USD451.7 million, +52.6%;
• Operating profit: USD61.9 million, +5.3%;
• EBITDA: USD95.0 million, +111.6%.
• Profit before tax: USD73.9 million, +18.7%;
• Net profit: USD58.5 million, +21.5%;
• Passenger numbers: 15.6 million, -0.8%;
• Cargo volume: 675,980 tonnes, -15.3%;
• Aircraft movements: 47,240, +6.7%. [more]
• *Based on the conversion rate at USD1 = SGD1.39

SATS: "There are emerging signs that the global economy is improving, albeit slowly. While recent industry statistics suggest that the aviation downturn is bottoming out and activity levels during the second half may improve, they are likely to remain below pre-crisis levels. The Group will continue to benefit positively from the consolidation of SFI. Synergies have already added positively to profitability and will continue to do so as integration advances," Company statement. Source: SATS, 22-Oct-2009.