SATS - Phillip Securities 2024-03-04: Focus On Refinancing Debt & Managing Costs

SATS - Focus On Refinancing Debt & Managing Costs

Published:
SATS (SGX:S58) | SGinvestors.ioSATS (SGX:S58)
  • SATS (SGX:S58) reported 3Q24 net profit of S$31.5mil, which included S$3.1mil profit from WFS. The 9M24 net profit of S$23.7mil is in line with our FY24e estimates of S$66mil, before an estimated S$30mil amortization of intangible assets. The amount will be finalized in March 2024. Only limited financial information was provided in the 3Q24 update.
  • - Read this at SGinvestors.io -
  • Looking ahead, growth will be led by overseas operations in China, India and Indonesia, and lower interest costs through refinancing of debt. Net debt was flat q-o-q at S$2.2bn, and net gearing was 0.9x.

The Positives

Net profit improved

  • - Read this at SGinvestors.io -
  • Associates’ contributions improved, led mainly by India, Hong Kong, and Frankfurt.

The Negatives

3Q24 EBIT margin of 8.8% is still below the mid-teens level during pre-pandemic.

  • Read more at SGinvestors.io.




Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.




Peggy Mak Phillip Securities Research | https://www.stocksbnb.com/ 2024-03-04



Read also Phillip's most recent report:
2024-09-05 SATS - Across The Board Tailwind.

Previous report by Phillip:
2024-08-21 SATS - Aviation Recovery Continues.

Price targets by 2 other brokers at SATS Target Prices.

Listing of research reports at SATS Analyst Reports.

Relevant links:
SATS Share Price History,
SATS Announcements,
SATS Dividends & Corporate Actions,
SATS News Articles





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